FICO

FEBRUARY 21, 2023

Expectations from Visa are that the GDP will turn negative once again in Q1 and Q2 of 2023 leading The National Bureau of Economic Research to declare a recession. from November 2021 to November 2022) and the unemployment rate is expected to rise to 4.6% 19 report on Consumer Credit). according to the Federal Reserve forecasts.

Credit Cards 52

Credit Cards Federal Reserve Advisors Issuers 52

The Fintech Times

MARCH 9, 2024

According to Polaris Market Research , the global BNPL market is projected to expand from $6.24billion in 2022 to $80.52billion by 2032. Most providers charge an initial set-up fee and the process to find and negotiate a deal could require thorough research.”

BNPL 72

BNPL Risk Management Risk Push-to-Card 72

FICO

FEBRUARY 7, 2023

Developed by FICO in partnership with LexisNexis Risk Solutions and Equifax, this innovative credit score utilizes alternative data—data not included in the traditional credit bureau file. The inclusion of this alternative data leads to a more reliable estimate of consumer credit risk and helps score more than 26.5

BNPL 52

BNPL Posting Underwriting Credit Risk 52

FICO

NOVEMBER 23, 2021

This year our judges, in alphabetical order, are: Sidhartha Dash, research director at Chartis. He has held various roles in product development, risk management, software development and consulting for banks, hedge funds and software firms, including Standard Chartered Bank, TCG Group, HCL and Cognizant.

Regulatory Compliance 52

Regulatory Compliance Financial Inclusion Risk Management Consulting 52

Stax

APRIL 18, 2024

This is the largest chunk of the merchant fees that need to be paid for payment processing , amounting to between 70% and 90% of the average credit card processing fees. However, 2020 and 2021 have been exempt from these changes, which are paused until April 2022 , giving merchants some respite from the financial stress of the pandemic.

Credit Cards 88

Credit Cards Process Online and Mobile Banking Processors 88

FICO

FEBRUARY 14, 2022

In November 2021, the European Banking Authority (EBA), the prudential arm of the European Union, issued a discussion paper on the use of machine learning in IRB models. This was predicated on advances in explainability of machine learning models (e.g., Do Machine Learning Models Bring Predictive Improvements?

Volume 52

Volume Credit Risk Compliance Risk 52

FICO

JANUARY 26, 2022

In 2021, the financial services world continued to grapple with the uncertainty brought on by year two of the COVID-19 pandemic. Ethan Dornhelm wrote: The FICO® Score is the lingua franca, or common language, for the credit scoring industry. It serves as a broad-based, independent standard measure of credit risk.

Credit Cards 52

Credit Cards Demand Deposit Account (DDA) Credit Risk Consumer 52

FICO

MARCH 2, 2021

But there’s also a salutary tale here, as our research shows that failure to serve customers satisfactorily will simply see them switch to a competitor – and once they’ve gone, they’ve gone for good. Since the start of 2021, Open Banking is now front-of-mind for far more major creditors.

AI 52

AI Risk Credit Cards Assessments 52

FICO

FEBRUARY 12, 2023

Home Blog FICO Top 5 Customer Development Posts of 2022: Digital Banking and Pricing Opti The most popular posts in our Customer Development category dealt with digital banking, optimizing credit line increases, loan pricing and machine learning for credit risk models. Here are extracts from those customer development posts.

Posting 52

Posting Online and Mobile Banking Credit Limit Risk 52

FICO

JANUARY 27, 2022

In January 2020 the UK reported £31 below the Canadian average and by June 2021 the UK was £347 above. In support of our win, Sid Dash, research director at Chartis Research stated, "FICO's top-ten ranking reflects its focus on a cloud-based applied intelligence platform. What a way to wrap the year!

Posting 52

Posting Payment APIs and Integration Non-Bank Financial Crimes 52

Finovate

DECEMBER 19, 2023

Liquidnet will leverage bondIT’s Scorable Credit Analytics to help traders better anticipate market trends. The technology will also help them mitigate credit risk and make more informed decisions quicker. Interdealer broker TP ICAP acquired the company in 2021 for $700 million. bondIT was founded in 2012.

AI 104

AI Research Credit Risk Mitigation 104

FICO

JUNE 20, 2022

Key findings from FICO research on consumer credit files with recently opened Buy Now, Pay Later loans. Tue, 03/23/2021 - 22:16. market: BNPL reporting approach: How a BNPL lender reports these accounts to a credit bureau can materially influence the impact these loans ultimately have on the FICO® Score.

BNPL 52

BNPL Accounts Financial Inclusion Credit Cards 52

CB Insights

DECEMBER 4, 2019

As many as 3,000 Amazon Go locations could open by 2021, according to Bloomberg. In his 2016 annual letter to shareholders , Bezos outlined Amazon’s goal of expanding Amazon Lending: by continuing to work with partner banks to manage the bulk of the credit, the retailer can mitigate credit risk and calm investor nerves.

Online and Mobile Banking 101

Online and Mobile Banking Push-to-Card Payment APIs and Integration Non-Bank 101

FICO

JULY 5, 2023

billion, according to CFCA’s 2021 Fraud Loss Survey Report. CFCA reports that CSPs’ “fraud management systems tend to detect fraud cases with an average False Positives rate of either 13% or 88%” while 26% of those surveyed report spending more than 20 hours per week – or even more than 40 hours per week – researching false positives.

Crime 52

Crime Gateways Online and Mobile Banking Rules 52

FICO

JANUARY 11, 2023

It’s been a fixture in my talks about model development for years, and in June 2021 I wrote about the Highlander Principle in a blog about the importance of Auditable AI.”. What is the company’s philosophy around AI research? . There can be only one!" as Sean Connery and Christopher Lambert know.

AI 52

AI Posting Audit Governance 52