FICO

AUGUST 16, 2021

FICO Applauds FHFA Inclusion of Rental Data in Underwriting. Last week, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae will begin considering borrowers’ rental payment history in its risk assessment process. We share the assessment that the key to expanding access to credit is seeking alternative data.

Underwriting 52

Underwriting Risk Assessment Assessments Financial Inclusion 52

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. CapX noted that Moody’s Analytics’ tool addresses the pain point of lack of access to historical data on small businesses seeking financing.

Underwriting 43

Underwriting Small Business Risk Mitigation Underserved 43

Fintech News

AUGUST 12, 2024

These trends include ecosystem banking, generative artificial intelligence (GenAI), and embedded finance, a new report by PwC India and ASSOCHAM says. For non-financial services businesses, embedded finance allows for enhanced customer loyalty, new revenue streams and improved customer experiences. billion by then.

Embedded Finance 109

Embedded Finance FinTech Non-Bank Cross-Border 109

PYMNTS

SEPTEMBER 21, 2020

Decades ago, asset-based finance developed a nasty reputation. As a financing tool that requires business owners to place valuable assets — whether working capital or physical — up for collateral, asset-based financing (ABF) was often viewed as a solution to a dire problem when no other options were available.

Finance 102

Finance Underwriting Compromise Adjustments 102

PYMNTS

JUNE 17, 2020

As such, trade finance will be an important piece of the global recovery puzzle. Connecting B2B vendors to financing on their unpaid invoices can grant them the financial stability they need to keep trade flowing, but it comes with its own set of challenges — both for the vendor and financiers. With a trade finance gap as large as $1.5

Finance 68

Finance Mitigation B2B Underwriting 68

Nanonets

SEPTEMBER 27, 2024

According to a recent study by Datos Insights , the insurance industry lags in terms of digitisation, with only 20% automation in underwriting and less than 3% automation in claims processing across sectors. Underwriting and claims processing are two key insurance processes that are still handled manually.

Process 52

Process Underwriting Automation Database 52

PYMNTS

AUGUST 28, 2017

the financing arm of the vehicle manufacturer, announced Friday (Aug. The machine learning study compared results from a Ford Credit scoring model with a machine learning model developed by ZestFinance using its underwriting platform to do deeper analysis of applicant data. ƒFord Motor Credit Co. Millennials offer the perfect example.

Credit Risk 41

Credit Risk Assessments Risk Underwriting 41

Fintech News

SEPTEMBER 4, 2024

These companies, which represent countries such as Malaysia, the Philippines and South Korea, are tackling challenges in sectors such as lending, banking, and business finance, leveraging innovative business models and cutting-edge technologies to boost efficiency and enhance accessibility across the financial services industry.

FinTech 112

FinTech Cross-Border Payment APIs and Integration Credit Cards 112

Fintech Finance

SEPTEMBER 10, 2024

Klarna offers consumers a choice of ways to pay including immediate payments, short-term, interest-free BNPL and longer-term financing. Klarna underwrites every transaction based on strict eligibility assessments and boasts a 99% repayment rate globally. Globally, about 30% of the payments Klarna processes are immediate payment.

BNPL 97

BNPL Payment Networks Credit Cards APACS 97

PYMNTS

OCTOBER 21, 2019

Providing consumers with sufficient supports can address these potential obstacles and speed up loan underwriting timelines, benefiting both borrowers and lenders. Consumers must give approval to have these details sent, which helps lending FIs quickly assess potential borrowers and determine whether to offer loans.

Underwriting 41

Underwriting Consumer Due Diligence Assessments 41

Fintech Finance

JULY 15, 2024

According to the British Business Bank, nearly half (48%) of all UK SMEs with employees sought external finance in 2023, demonstrating the high demand for solutions like Paycorp’s. The post Paycorp Expands Embedded Business Funding into UK appeared first on Fintech Finance.

ATM 105

ATM Credit Risk On-Demand Underwriting 105

PYMNTS

JULY 3, 2018

But SMB loan underwriting at traditional FIs has, for the most part, remained unchanged, even as alternative lenders began exploring the role of alternative data in the risk mitigation process. “Lenders’ primary goal is to assess a consumer’s stability, ability and willingness to pay.

Underwriting 40

Underwriting Small Business Assessments Third-Party Service Provider 40

PYMNTS

JULY 16, 2019

FinTech Lendbuzz has announced Monday (July 15) that it has secured an additional $150 million in debt and equity financing led by 83North, with participation from existing investors. credit history to help them secure financing for auto loans. credit history to help them secure financing for auto loans.

Finance 49

Finance FinTech Underwriting Credit Risk 49

PYMNTS

NOVEMBER 11, 2019

The Monetary Authority of Singapore is backing the launch of a new trade finance offering operated by trade facilitation platform provider vCargo Cloud (VCC), a press release said Monday (Nov. MAS, as well as FinTechs from the country’s private sector, have propelled the nation into a global leading position in trade finance innovation.

Finance 40

Finance Underwriting NOV Assessments 40

PYMNTS

APRIL 16, 2020

Plaid is unlocking payroll data to ease access to federal financing. Designed to streamline the SMB loan distribution cycle, the lending-as-a-service tool integrates compliance controls with customizable business controls, while Plaid is enabling data integrations across a range of sources to bolster lenders’ underwriting processes.

Finance 67

Finance Payment APIs and Integration Cross-Border Payments Cross-Border 67

The Fintech Times

JULY 16, 2024

According to the British Business Bank , 48 per cent of all UK SMEs with employees sought external finance in 2023, demonstrating the high demand for these solutions. SMEs account for 61 per cent of all employment in the UK, highlighting the importance of providing access to support and funding required to ensure growth.

ATM 95

ATM Transactions Credit Risk On-Demand 95

PYMNTS

JULY 23, 2019

According to the publication, citing reports from Beijing media group Caixin Media, banks will be required to obtain primary, original documentation from the corporate borrower and its trading partner to stronger finance underwriting. for Finance and Development’s Deputy Director Zeng Gang in an interview with China Daily.

Finance 51

Finance Disputes Verification Underwriting 51

PYMNTS

NOVEMBER 2, 2020

Bloomberg is providing the data in the current global economic crisis to aid the markets with ready, accessible information that is timely and transparent for active credit assessments and predictive models to assess the volatility of the current market. They can also assess ongoing credit quality.

Credit Risk 85

Credit Risk Risk Risk Management Assessments 85

Fintech Finance

MARCH 21, 2024

Pockit has partnered with consumer lender, SteadyPay, to help perform the credit assessment, to provide underwriting activities required to ensure that all loans are responsible and affordable and to fund the loan book. The post Pockit Launches Income Advance Product appeared first on Fintech Finance. As of October 2023, 4.2

Product 52

Product Underwriting On-Demand Underserved 52

PYMNTS

JULY 25, 2019

What Fundbox offers as an alternative, she said, is an automated trade financing platform that makes it easier for small suppliers to provide terms to their buyers, or for small buyers to gain access to longer payment terms without having to clear the normally rigid hurdle set.

Finance 53

Finance Risk Assessment B2B Underwriting 53

FICO

SEPTEMBER 18, 2020

Our FICO Cyber Risk Score is becoming the de-facto cyber risk score for enterprise self-assessment, third-party risk management and insurance underwriting. . The FICO® Cyber Risk Score also enables better underwriting decisions through the ability to quantify cyber risk as statistical fact rather than opinion.

Risk 52

Risk Assessments Underwriting Cybersecurity 52

Finovate

MAY 6, 2024

Via the partnership, Alloy customers will be able to access Coris’ solutions to automate SMB onboarding, underwriting, and fraud prevention. Merchant Profiler enables fintechs and software companies to onboard, underwrite, and monitor their SMB customers via GPT-4 powered SMB industry classification.

Automation 52

Automation Risk Underwriting Embedded Finance 52

Nanonets

APRIL 4, 2023

However, with many factors to consider, such as property location, market conditions, tenant occupancy, and financing options, it can be challenging to know where to begin. Why opt for Argus modeling in underwriting? For underwriting commercial real estate investments, Argus modeling provides exceptional value.

Due Diligence 52

Due Diligence Underwriting Assessments Returns 52

Stax

JANUARY 8, 2024

This means that PayFacs need to conduct a thorough risk analysis of their sub-merchants before onboarding them so they are screened against terror financing or money laundering. Once the information is collected, PayFacs must render an underwriting decision to approve or decline sub-merchant applications.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

The Fintech Times

MARCH 12, 2024

One of the most important programmes to come out of the PSI is the Net-Zero Insurance Alliance (NZIA) which along with its partners is focused on decarbonising insurance and reinsurance underwriting portfolios. It allows insurance providers and their customers to assess the risks of today and help prepare them for those of the future.”

Mitigation 72

Mitigation Risk Underwriting Risk Assessment 72

PYMNTS

MARCH 13, 2018

one of Japan’s largest consumer financing companies, to provide loans and lending services to the unbanked. Dubbed Grab Financial Services Asia (GFSA), the joint venture will offer micro-financing products and services tailored for the fastest-growing economies in Southeast Asia.

Finance 40

Finance Consumer Financial Inclusion Assessments 40

PYMNTS

APRIL 16, 2018

According to YES BANK Group President and Head of Branch and Retail Banking Rajan Pental, the new solution is part of the financial institution’s (FI) broad efforts to expand access to faster financing for India’s SMBs. YES BANK will assess tax data from the last six months, and, if approved, businesses can access funds within a day.

Returns 43

Returns Underwriting Cross-Border Payments Cross-Border 43

Nanonets

AUGUST 16, 2024

Artificial Intelligence (AI) AI is particularly brilliant at handling complex tasks like fraud detection, risk assessment, and claims adjudication. Advanced AI systems can cross-check claim details against policy data, third-party databases, and historical claim records to detect anomalies and assess the validity of claims.

Automation 52

Automation Process Fraud Detection Payment APIs and Integration 52

Nanonets

APRIL 5, 2023

It helps lenders evaluate borrowers' creditworthiness, assess the risk of default, and ensure that only qualified applicants are approved for loans. Traditional underwriting processes may not assess creditworthiness accurately for a borrower who derives income from non-traditional sources.

Automation 52

Automation Process Risk Assessment Assessments 52

Nanonets

APRIL 24, 2023

This facilitates verification of customer profiles, streamlining the onboarding process, approving loans and mortgages, assessing borrower risk, etc. Bank extraction software can be used to extract this information and use it for loan approvals and risk assessments.

Automation 52

Automation Assessments Fraud Detection Risk Assessment 52

Clearly Payments

DECEMBER 5, 2023

Services like Apple Pay, Google Pay, and Samsung Pay revolutionized how consumers interacted with their finances, emphasizing the convenience of using smartphones for transactions. The level of detail required can vary, but accuracy is crucial to expedite the underwriting process.

Processors 52

Processors ISOs Payment APIs and Integration Payments 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

PYMNTS

DECEMBER 11, 2020

Their financial service providers are challenged, too, in looking into the future and forecasting the performance of small business clients seeking financing to carry them through the pandemic. According to Puskar, small businesses face a tough challenging act when it comes to their financing needs. A Hectic Experience.

Posting 93

Posting Small Business Assessments Returns 93

Nanonets

APRIL 24, 2023

It also includes various other steps such as underwriting , documentation, and funding.  The Automate your mortgage processing, underwriting, fraud detection, bank reconciliations or accounting processes with a ready-to-use custom workflow. The term also applies to other types of amortized personal loans.

Origination 52

Origination Process Underwriting Automation 52

Global Fintech & Digital Assets

DECEMBER 21, 2023

These consumer lending arrangements (also known as “point-of-sale installment loans” or “pay-in-4”) involve short-term installment loans repayable in four or fewer payments and carry no finance or interest charges. Some of the highlighted risks and risk management practices are as follows.

OCC 59

OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

PYMNTS

OCTOBER 7, 2016

Lending has become one of the largest benefactors of this trend, with alternative lenders once viewed as competitors to the banks now working with them to strengthen financing options for SME borrowers. He offered the example of banks using analysis of financial statements to assess risk in the loan origination process.

Origination 78

Origination Underwriting Third-Party Service Provider Risk Mitigation 78

PYMNTS

JUNE 10, 2020

If users fail to make timely minimum payments, they will be assessed late fees. The collaboration is a coup for Goldman Sachs because it gives it access to thousands of Amazon merchants as the New York-based financial services group fuels its push into Main Street finance. consumer business, told the network.

Push-to-Card 71

Push-to-Card Underwriting Credit Cards Assessments 71