Fintech News

DECEMBER 20, 2023

But despite increased adoption of these novel payment methods, BNPL profitability remains a challenge, hampered by high fixed costs, increasing funding expenses and elevated delinquency rates, a new report by the Bank for International Settlements (BIS) says. million in 2023.

BNPL 105

BNPL Consumer Financial Protection Bureau (CFPB) Settlement Non-Bank 105

FICO

SEPTEMBER 28, 2017

Lenders are looking for new ways to connect with the estimated 3 billion people worldwide who fall outside the credit mainstream. These “credit invisibles” don’t have credit cards, bank accounts or credit history — so how can a lender assess their risk? those with a credit history.

Credit Risk 74

Credit Risk Assessments Online and Mobile Banking Risk 74

FICO

OCTOBER 17, 2022

Open Banking in the Philippines and the Opportunities in the Data. How data sharing can improve credit risk decisioning. Open Banking in the Philippines - the path ahead. Open Banking in the Philippines promises to give customers the control to share their data and allow third-party providers to access their data.

Credit Risk 52

Credit Risk Payment APIs and Integration Consulting Non-Bank 52

Nanonets

APRIL 5, 2023

While access to credit is crucial for many people and companies, lenders must also protect themselves from the risk of default and ensure that they can remain financially solvent in the long run. Without proper filtering, lenders run the risk of approving high-risk borrowers, which can lead to increased loan defaults and losses.

Automation 52

Automation Process Risk Assessment Assessments 52

Tearsheet

AUGUST 7, 2024

Morgan’s financial strength and Slope’s innovative approach to credit risk assessment and monitoring. All of these features are powered by our AI-driven underwriting and risk-scoring infrastructure, which is built in-house from the ground up. The partnership brings together J.P. By combining J.P.

AI 59

AI B2B Finance Underwriting 59

PYMNTS

FEBRUARY 15, 2018

Commercial credit risk solutions provider Credit2B is rolling out a portal for trade credit suppliers to share and access information about B2B payment experiences in real time. After collecting that information, Credit2B automatically generates a credit score to analyze the financial strength of a company.

Risk 43

Risk Credit Risk Non-Bank Assessments 43

Fintech News

JANUARY 16, 2024

In 2024, the banking sector is witnessing a pivotal transformation driven by advanced technologies like AI and cloud computing, evolving customer demands, and changing regulatory landscapes. Accenture’s “ Banking Top 10 Trends ” report for this year highlights this transformative journey. Generative AI supercharges banking.

AI 112

AI Risk Non-Bank On-Demand 112

FICO

JANUARY 4, 2018

“By contrast, growth in student loan debts outpaced inflation, being both greater in number as well as balances; this undoubtedly creates a drag on capacity for other forms of consumer credit.”. A New Way to Score Credit Risk – Psychometric Assessments. 2017 Banking Regulatory Predictions—Brace for a Sea Change.

Risk 58

Risk Posting Credit Risk Regulatory Compliance 58

PYMNTS

JANUARY 7, 2021

This success has laid the groundwork for traditional banks to now build upon this digital foundation with an array of technologies and tools, sometimes proprietary and sometimes offered by third parties, to optimize various workflows. You have to look at risk in its entirety," said Gugelmann. "You Optimization Through Technology.

Finance 70

Finance Risk Mitigation Mitigation Cross-Border 70

FICO

MAY 2, 2023

Other expenditure blind spots, such as Buy Now Pay Later, can be removed through the use of digital income and expenditure assessments or Open Banking data. The value of emerging, non-traditional data sources should not be overlooked.

Compliance 52

Compliance Consumer Credit Risk Facilitators 52

FICO

JANUARY 6, 2021

We did not assess how they might behave once the crisis that triggered their financial stress was starting to pass. Collections, risk and operations executives will need to have the data that helps them: Understand the differences between COVID-19 related debt and non-COVID related debt. Redundancy?

Posting 98

Posting Credit Risk Risk Returns 98

FICO

APRIL 28, 2020

Customer Onboarding & Management Banreservas , the largest bank in the Dominican Republic, has centralized and automated its credit origination processes, enabling it to assess 80 percent of its loans automatically, increase loans processed by 30 percent and offer up-sells to 47 percent of approved applicants.

Financial Inclusion 52

Financial Inclusion Fraud Detection Regulatory Compliance Non-Bank 52

FICO

FEBRUARY 6, 2017

Securitization plays a key role in driving increased liquidity in the mortgage market, ensuring that banks can fund more loans, at lower cost. FICO Scores, of course, play an important role in the risk management and transparency that powers the secondary market. This in turn gives consumers greater access to affordable mortgages.

Credit Risk 40

Credit Risk Risk Assessment Risk Payer 40

PYMNTS

MAY 17, 2017

Earlier this month, LexisNexis Risk Solutions said that its suite of products geared toward assisting lenders with account management can help mollify this challenge through its Small Business Monitoring, which draws on disparate data points to assess risk in a proactive manner.

Small Business 40

Small Business Risk Assessments Credit Risk 40

FICO

OCTOBER 26, 2021

Credit unions are different and they inherently think of themselves that way – as part of a microcosm, somewhat separate from the broader financial services industry. But the reality is that credit unions are still competing for customers in the same market as big banks and FinTechs. Let’s consider the competition.

Credit Union 52

Credit Union AI Non-Bank Risk Assessment 52

FICO

JANUARY 15, 2021

In our top post, Vice President and General Manager of Scores, Sally Taylor explained the new FICO Resilience Index, designed to provide lenders with a more precise assessment of consumer credit risk and consumers with demonstrated talent for weathering economic storms greater access to credit.

Posting 59

Posting Agreements Credit Cards Consumer 59

EBizCharge

AUGUST 15, 2024

These fees are incurred by merchants for each transaction and are paid to the card-issuing banks as compensation for handling the credit risk and processing the payment. Pass-through fees are essential for merchants since they directly impact overall credit card processing costs.

Processors 52

Processors Credit Cards Best Practices Volume 52

PYMNTS

DECEMBER 19, 2016

16) said Lendingkart will offer its credit risk assessment technology to banks and other alt-lenders starting in 2017. “We plan to offer our analytics technology to other NBFCs [non-banking financial companies] and financial institutions sometime in 2017,” the executive said in an interview with Livemint.

Credit Risk 40

Credit Risk Risk Risk Assessment Assessments 40

CB Insights

DECEMBER 4, 2019

If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”. Based on our findings, it’s hard to claim that Amazon is building the next-generation bank. In aggregate, these product development and investment decisions reveal that Amazon isn’t building a traditional bank that serves everyone.

Online and Mobile Banking 101

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

PYMNTS

JUNE 17, 2020

In financial fraud, the breaches come when bank standards are lax. Australian bank Westpac Banking Corp. And that guiding principle is what leads fraudsters and bad actors to probe systemic vulnerabilities in banks’ compliance processes. may stand as Exhibit A here. There was no evidence of intentional wrongdoing.”.

AML 75

AML Money Laundering Compliance Financial Crimes 75

FICO

JANUARY 11, 2017

As a data scientist from FICO’s Scores organization, I feel it’s important to remind our blog readers that collection information on a credit bureau report has consistently been found to be a strong indicator of increased credit risk.

Consumer 67

Consumer CFPB Research Non-Bank 67

FICO

MARCH 6, 2020

A partnership aimed at helping banks, payment providers and fintechs meet the ever stronger regulatory demands while reducing effort and expense. . We serve corporates, insurance companies, and banks – be it a retail, private, wealth management, automotive or telecom bank, tier 1 or tier 3 bank. What do you do?

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

PYMNTS

JULY 11, 2017

The International Chamber of Commerce Banking Commission recently released a report that found an imbalance between supply and demand of trade finance services. Indeed, banks must tread carefully in the world of trade finance, and with such little room for error and financial losses, risk management is critical.

Finance 43

Finance Risk Mitigation Risk Non-Bank 43

Fintech Labs Insights

JULY 14, 2015

We also wanted to know what to expect from the Netherlands-based, cloud-banking software specialist in the second half of 2015. Michiel Schipper: During our first appearance, we showcased a solution where medium-sized enterprises could build their own financing solution from the bank’s assortment.

Risk Assessment 28

Risk Assessment Risk Origination Non-Bank 28