The Fintech Times

SEPTEMBER 11, 2024

MoneyLion has teamed up with Nova Credit to integrate cash flow underwriting into its decisioning engine, enabling credit issuers on its platform to access more comprehensive data for evaluating consumers’ financial health.

Underwriting 58

Underwriting Risk Management Credit Risk Issuers 58

Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Major risk factors for PayFacs include fraudulent transactions, merchant credit risk, regulatory compliance, and operational risks.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

PYMNTS

JANUARY 25, 2019

Equipment finance company CapX Partners has announced an integration of Moody’s Analytics technology to strengthen its underwriting and risk mitigation capabilities. “Assessing the creditworthiness of small businesses in a cost-effective manner is one of a lender’s most challenging tasks,” he said.

Underwriting 43

Underwriting Small Business Risk Mitigation Underserved 43

The Fintech Times

JULY 16, 2024

By leveraging line-by-line transaction data, Recap’s credit risk engine can assess a merchant and return a funding offer in under two minutes without any further underwriting requirements such as a credit check on the owner or management accounts or business bank statements.

ATM 95

ATM Transactions Credit Risk On-Demand 95

Fintech Finance

JULY 15, 2024

By leveraging line-by-line transaction data, Recap’s credit risk engine can assess a merchant and return a funding offer in under two minutes without any further underwriting requirements such as a credit check on the owner or management accounts or business bank statements.

ATM 104

ATM Credit Risk On-Demand Underwriting 104

The Fintech Times

APRIL 15, 2024

“By analysing big data and rapidly assessing risks, AI empowers financial companies to make well-informed decisions. However, a significant revolution lies ahead – the personalisation of services based on individual user assessments. “Finally, AI is reducing risk in the embedded insurance space.

Embedded Finance 134

Embedded Finance AI Finance Assessments 134

FICO

MARCH 25, 2020

Home Credit , a global non-bank consumer lender, has successfully reduced its credit risk while maintaining loan volumes and keeping approval rates steady by incorporating the FICO® Score X Data to optimize its loan process in China. They are one of our most sophisticated clients in terms of advanced analytics.”. by FICO.

Risk 97

Risk Financial Inclusion Point-of-Sale (POS) Risk Assessment 97

Finovate

APRIL 10, 2024

To better help marginalized consumers access the credit they need, the company doesn’t require them to have a credit score to qualify for the card. Instead, Petal leverages users’ open banking data as underwriting data to offer them credit and help them establish a credit history. credit card market.

Credit Cards 52

Credit Cards Underserved Underwriting Acquirers 52

Tearsheet

AUGUST 7, 2024

Morgan’s financial strength and Slope’s innovative approach to credit risk assessment and monitoring. The fact that they not only use AI for initial underwriting, but also for the ongoing risk monitoring of the portfolio, is what really attracted us to Slope. The partnership brings together J.P.

AI 59

AI B2B Finance Underwriting 59

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

FICO

OCTOBER 10, 2022

A low FICO score for a consumer can have the perverse effect of preventing them from having access to a second chance through manual underwriting. We all know that having a higher credit score helps a consumer gain access to credit and get better terms from a lender. JessicaButalla@fico.com. Tue, 07/19/2022 - 16:11.

Consumer 52

Consumer Underwriting Credit Risk Risk Assessment 52

PYMNTS

JUNE 1, 2020

invoice insurance provider Nimbla is teaming up with the credit risk assessment firm Wiserfunding , according to a report in Crowdfund Insider on Friday (May 29). The partnership is a result of the launch of the FinTech task force Innovate Finance , which took place in March, the report said.

Risk Assessment 67

Risk Assessment Risk Management Underwriting Credit Risk 67

FICO

MAY 6, 2019

FICO Scores Are Not Fixed Estimates of Credit Risk. The FICO ® Score is designed to rank-order the likelihood that a borrower will repay their loan(s), with higher scoring borrowers representing lower risk, and lower scoring borrowers representing higher risk. So are FICO ® Scores “artificially inflated”?

Underwriting 75

Underwriting OCC Credit Risk Risk 75

PYMNTS

JULY 16, 2019

The debt funding was led by BHI, ConnectOne Bank, IDB Bank, Viola Credit and a large insurance company. Lendbuzz’s financing model, which is powered by machine learning and proprietary algorithms, allows it to better assess the creditworthiness of consumers with limited U.S.

Finance 49

Finance FinTech Underwriting Credit Risk 49

FICO

SEPTEMBER 28, 2018

I had the pleasure of speaking on a panel at ABS East yesterday, entitled “Traditional vs Non-Traditional Underwriting, Does Machine Learning Teach Us Anything New?”. The panel primarily focused on the opportunities and challenges associated with the use of Machine Learning (ML) in credit underwriting.

Underwriting 53

Underwriting Credit Risk AI Risk 53

PYMNTS

JUNE 17, 2020

Having announced a partnership with Dun & Bradstreet , Velotrade is expanding the pool of data from which it draws to underwrite financing. The first and most obvious risk is credit risk, or the risk that a business will fail to repay financing.

Finance 68

Finance Mitigation B2B Underwriting 68

PYMNTS

MAY 29, 2018

In some instances, this helps them offer consumers new credit opportunities, and in other cases it might illuminate risk,” noted Paul DeSaulniers, Experian’s senior director of Risk Scoring and Trended/Alternative Data and Attributes. Lenders’ primary goal is to assess a consumer’s stability, ability and willingness to pay.

Financial Inclusion 62

Financial Inclusion Underwriting Credit Cards Disputes 62

Fintech News

DECEMBER 20, 2023

The BNPL platform then assesses their creditworthiness through a soft credit check. Once the platform approves the credit line, it pays the merchant the full amount of the goods purchased, thus taking on the customer’s credit risk. million) in Q3 2023 compared with a loss of SEK 2.1

BNPL 102

BNPL Consumer Financial Protection Bureau (CFPB) Settlement Non-Bank 102

PYMNTS

APRIL 16, 2019

But it occurred to them that their solution was useful outside of HR — and that many of the things that made someone a good hire of over time could also make them a good credit risk over time, if the artificial intelligence (AI) model they were using to screen with were modified to that task.

Risk 89

Risk AI Underwriting Assessments 89

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

MAY 7, 2018

Some of the top thought leaders in banking, finance, artificial intelligence, machine learning, and credit risk came together in San Francisco to discuss the key trends and innovations in our industry. A key driver of successful financial inclusion is the ability for lenders to effectively gauge the risk of an underserved consumer.

Financial Inclusion 77

Financial Inclusion Innovation Credit Risk Underserved 77

PYMNTS

JUNE 16, 2016

Its biggest plan, reports said, is to use QuadMetrics’ capabilities in predictive analytics and risk assessment strategy to create an “enterprise security score” for business customers. FICO said it hopes to provide a tool to underwrite companies’ cybersecurity levels.

Security 41

Security Risk Assessment Cybersecurity Assessments 41

PYMNTS

NOVEMBER 16, 2018

A press release issued this week said that BNB Bank, a community bank operating across the New York and Long Island metropolitan area, will integrate PayNet technology to enhance its underwriting process for small business loans. In another statement, BNB Bank EVP and Chief Lending Officer Kevin L.

Community Banks 53

Community Banks Small Business Risk Assessment Underwriting 53

PYMNTS

APRIL 6, 2017

FICO is strengthening its position in the corporate underwriting space with a new solution for SME lenders. The company said Wednesday (April 5) that it is rolling out its Origination Manager Essentials solution for mid-market banks and credit unions. ” .

Credit Union 40

Credit Union Small Business Risk Assessment Origination 40

PYMNTS

FEBRUARY 26, 2019

The complaints vary in their specifics, but all revolve around a basic premise: The old credit-scoring models are too backward-looking in a world where real-time data is available — and they are insufficient to the task of properly assessing risk. Aire, though, is a credit-assessment platform intended to fill in that extra data.

AI 61

AI Credit Risk Assessments Card Issuer 61

PYMNTS

JULY 28, 2017

At the center of many of these discussions is the issue of ACH underwriting, which sees FIs establish how long it takes for funds to actually settle into an account. The company’s stability, ability to cover insufficient funds and chargebacks are taken into account.

Same Day ACH 41

Same Day ACH ACH Underwriting Payments 41

PYMNTS

AUGUST 4, 2016

Primarily, Reckon provides small and medium-sized enterprises with cloud accounting solutions, but now, it’s utilizing the data it has about small businesses to its advantage by partnering with alternative lending company Prospa to underwrite loans to its SME users. “This is transforming the credit risk analysis process. .

Small Business 40

Small Business Underwriting Regulations Assessments 40

PYMNTS

APRIL 10, 2018

Adjaoute said doing this goes far beyond what FIs can offer through manual, paper-based underwriting processes, which can keep applicants waiting for a month or longer. Evaluating credit risk isn’t just about keeping fraudsters from getting loans under illegitimate identities. When Less Isn’t More.

AI 54

AI Credit Risk Risk Underwriting 54

FICO

FEBRUARY 6, 2017

FICO Scores, of course, play an important role in the risk management and transparency that powers the secondary market. Now VantageScore is claiming that its score can be used instead in GSE underwriting (and by extension, securitization), as a one-to-one replacement for the FICO Score. Could a clean swap-out work?

Credit Risk 40

Credit Risk Risk Assessment Risk Payer 40

PYMNTS

SEPTEMBER 20, 2018

That means the big opportunity for X Financial comes from the 400 million or so Chinese consumers who have credit cards, but are hampered by limits that are too low. Those limits remain low because China is relatively undeveloped when it comes to credit bureaus and assessing credit risk, which makes lenders cautious and consumers frustrated.

P2P 66

P2P Credit Cards Online and Mobile Banking Credit Limit 66

PYMNTS

JULY 11, 2017

One of those collaborators is CRiskCo, a credit risk management company that deploys Big Data analytics to provide a business credit score to lenders and trade finance providers. Together, the businesses are going straight to the trading partners to protect a supplier against the risk of non-payment.

Finance 43

Finance Risk Mitigation Risk Non-Bank 43

FICO

FEBRUARY 27, 2017

Cybersecurity scoring is similar in many respects to scoring for credit risk. Credit scores are widely used to underwrite loans large and small, and are trusted by both lenders and regulators as reliable, quantitative tools for assessing risk at both the loan level as well as the portfolio level.

Cybersecurity 40

Cybersecurity Breach Assessments Risk 40

PYMNTS

MAY 2, 2018

According to IBM research’s Isaac Markus, the solution aims to provide borrowers with a credit score using machine learning algorithms to underwrite loans. PayPie’s offering includes a credit risk assessment with proprietary credit score, the firm added.

Blockchain 48

Blockchain Online and Mobile Banking Small Business Risk Assessment 48

FICO

MAY 10, 2017

There has been much discussion and several studies over the years regarding the potential value of leveraging rental data in assessing consumer credit risk. Which raises the question: Should rental data be widely reported to the three primary consumer credit agencies (CRAs)? Does Rental Data Make Thin Files Fatter?

Regulatory Compliance 72

Regulatory Compliance Volume Compliance Underwriting 72

FICO

MARCH 15, 2018

In short, the origination score is built by honing in on the population looking to obtain new credit, and then looking at the performance of the new debt. There can be nuanced differences in the risk patterns and trends for this population relative to those of the holistic customer (i.e., customers assessed only by their FICO ® Score).

Origination 40

Origination Risk Underwriting AI 40

PYMNTS

FEBRUARY 9, 2017

Paramount to Fundbox’s strategy, he explained, is its underwriting process. Our foundation is built on leveraging data science and machine learning to provide a better mechanism for evaluating risk with SMBs,” he said. MacAvoy told PYMNTS that, since winning that award, that focus hasn’t faltered, either.

Innovation 46

Innovation FinTech Small Business On-Demand 46

FICO

JANUARY 10, 2017

The “innovation” VantageScore claims can score more people is simply the weakening of credit score criteria. The minimum criteria needed to produce the FICO Score aren’t arbitrary — they are the result of decades of research into risk assessment. Delinquencies and collections. Inactive/stale.

Research 81

Research Consumer Risk Assessment Risk 81