Lending Front

JUNE 15, 2021

But the reality is that–at the time–credit scores were simply the best thing an insurer could access in order to assess risk. Technology has evolved to provide real-time financial data to institutions, facilitating more accurate assessments of both creditworthiness and risk. There is a correlation , i.e,

Underwriting 52

Underwriting Small Business Federal Reserve Assessments 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

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

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

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 118

FinTech Cross-Border Payment APIs and Integration Credit Cards 118

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

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

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 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

FICO

DECEMBER 23, 2016

He proposed that both can be solved with clever, analytically driven credit assessments that use new sources of data. All three of these aspects can facilitate the operation and underwriting of credit.”. Understanding the consumer’s reliability, stability and attention to detail are key to effective credit assessment.

Finance 59

Finance Online and Mobile Banking Risk Management Assessments 59

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

Tearsheet

AUGUST 7, 2024

This collaboration aims to provide corporate clients with improved short-term financing options and embedded payment solutions at the point of sale. Morgan’s financial strength and Slope’s innovative approach to credit risk assessment and monitoring. The partnership brings together J.P. Working with Slope, our team at J.P.

AI 59

AI B2B Finance Underwriting 59

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

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

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 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

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

The Fintech Times

JULY 30, 2024

Network International , the enabler of digital commerce in the Middle East and Africa (MEA), is joining forces with Biz2X , the financing fintech in the US, India and Australia, to unlock new sources of capital for its SME merchants. Biz2X boasts over $10billion funded through its digital lending platform.

Underwriting 52

Underwriting Embedded Finance Risk Assessment Settlement 52

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

DECEMBER 17, 2018

Use of alternative finance (AltFin) sources among small business (SMB) owners is on the rise, but still has a long way to go before it poses a legitimate threat to traditional banks’ market dominance. firm that bridges companies with a range sources to obtain loans, equity financing or grants. Key to this solution is the U.K.’s

Small Business 78

Small Business Finance Non-Bank Assessments 78

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, 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

Finovate

DECEMBER 16, 2024

Capitalise, a business finance platform based in the U.K., has forged a strategic partnership with data and open finance network Plaid. based business finance platform Capitalise has announced a strategic collaboration with fellow Finovate alum Plaid. Capitalise made its Finovate debut at FinovateEurope 2016.

Small Business 59

Small Business Non-Bank Risk Assessment Finance 59

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

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

DECEMBER 28, 2020

But maybe the most dramatic and realistic assessment comes from Pedro DePaula , director of MercadoLibre ’s MercadoCrédito division. A rapidly changing world, he said, meant changes for MercadoLibre as well, particularly in its underwriting business MercadoCrédito. The digital compression of 2020 has drawn a wide range of speculation.

Underwriting 88

Underwriting Contactless Payments Consumer Underserved 88

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

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

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

PYMNTS

FEBRUARY 27, 2020

In a recent conversation with PYMNTS’ Karen Webster, Grab Financial Group’s Head of Lending Ankur Mehrotra highlighted the significance of Southeast Asia’s SMB lending opportunity, in which McKinsey research has calculated a whopping $175 billion gap in available financing for micro and small businesses in the region. .”

Small Business 72

Small Business Assessments Finance Addressing 72

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

PYMNTS

APRIL 16, 2019

Ability to repay, he noted, is a fantastic criteria by which to assess whether or not to give someone a loan — and the credit industry has a long and ignoble history of using people’s inability to handle credit as a tool for harvesting fees and interest revenue.

Risk 89

Risk AI Underwriting Assessments 89

PYMNTS

NOVEMBER 15, 2018

Dun & Bradstreet recently released a survey that found only about one-quarter of finance executives believe blockchain will emerge as the dominant B2B payments technology by 2028; instead, professionals believe online payments and eChecks will lead the way. There are many potential use cases for blockchain in corporate finance.

B2B 74

B2B Blockchain Risk Assessment Payments 74

PYMNTS

MAY 29, 2018

And, Experian’s report notes, both consumers and lenders are getting increasingly interested in “those much more comprehensive profiles” becoming a standard part of the underwriting process. Lenders’ primary goal is to assess a consumer’s stability, ability and willingness to pay. Alternative Data Streams Good (And Not So Good).

Financial Inclusion 62

Financial Inclusion Underwriting Credit Cards Disputes 62

Stax

FEBRUARY 15, 2024

ISVs create software platforms for various industries, including business management, healthcare, and finance. ISVs create software platforms for various industries, including business management, healthcare, and finance. There are two main ways that an ISV can become a payment provider—by adopting the ISO model or the PayFac model.

ISVS 88

ISVS Facilitators ISOs Payment APIs and Integration 88

PYMNTS

MARCH 20, 2020

But Michael Ellis, head of commercial at Equiniti Group’s EQ Riskfactor , said the market is also quickly discovering that lenders themselves can benefit from unlocking data to improve SMB financing operations, and the U.K.’s A Win-Win for Banks and SMBs. For lenders, unlocking data also means strengthened fraud mitigation.

Risk Mitigation 93

Risk Mitigation Mitigation Payment APIs and Integration Risk 93