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BNPL Fraud On the Rise as Scammers Prey On Borrowers in Southeast Asia

Fintech News

BNPL fraud in Southeast Asia is seeing a rapid rise with fraudsters exploiting weaknesses in these platforms and developing sophisticated methods to deceive users for financial gain. In these BNPL fraud schemes, borrowers in need of cash agree to use their BNPL credit to pay bills for lenders, expecting a cash transfer minus a small fee.

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BNPL Profitability Remains Elusive Despite Rising Adoption

Fintech News

Buy now, pay later (BNPL) arrangements, a type of short-term financing that allows customers to make purchases and pay for them in monthly installments, are growing strongly around the world, picking up steam among both customers and merchants. million in 2023. million in 2023.

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Finovate Global Mexico: Banorte’s Digital Bank, Amazon’s BNPL Partnership with Kueski Pay

Finovate

First up is news that Grupo Financiero Banorte has launched Mexico’s first fully digital bank, bineo. The new digital bank also offers financing products for bineo account holders. The bank also pledges competitive rates and instant access to funds once loans are approved. The company noted that it hopes to add 2.8

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Digital, Challenger and Neobanks in the Middle East and Africa 2024

The Fintech Times

The digital banking scene in the Middle East and Africa (MEA) is undergoing a significant transformation, with neobanks and challenger banks emerging as key players in reshaping financial services. It’s worth noting that digital banks can fall into either category, whether neobanks or challenger banks.

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ClearScore Calls For Change as UK Lending Market Contracts for Higher-Risk Customers

The Fintech Times

The findings come from the latest ClearScore whitepaper, ‘ Building a non-prime lending market that delivers for UK consumers ‘, which uses EY analysis to show how access to credit has worsened in recent years. Since 2019, guarantor loans to sub-prime customers have declined 99.6

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Top 5 Fraud and Financial Crime Topics of 2021

FICO

From TBML to BNPL to NFTs, 2021 found fraud and financial crime professionals dealing with a plethora of new challenges and criminal schemes. Our five most popular posts of the year dealt with trade-based money laundering, non-fungible tokens, buy now pay later scams, courier scams and good old credit card fraud.

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Fintech’s Value in Australia Grows by 17,900% in Less Than a Decade

The Fintech Times

Despite its market stalling in H1’24, Australia’s economy still remains a major player globally with a gross domestic product (GDP) per capita of over $65,000 according to the World Bank. These include cross-border payments Airwallex , buy now pay later (BNPL) Afterpay and challenger bank Judo Capital.