Fintech News

JUNE 12, 2024

It integrates an advanced cyber risk exposure scanning solution into the underwriting process. This technology enhances risk assessment by generating a real-time security posture score within a minute, allowing eligible small and medium-sized enterprises to obtain instant policy issuance in under 10 minutes.

Risk Assessment 74

Risk Assessment Assessments Cybersecurity Underwriting 74

The Fintech Times

JULY 30, 2024

By leveraging payment transaction data and providing loan underwriters with real-time credit data, Network International hopes to enable its SME merchants to access new sources of capital. The combination of our payments data with Biz2X’s digital underwriting prowess is a clear advantage to lenders and merchants alike.”

Underwriting 52

Underwriting Embedded Finance Risk Assessment Settlement 52

Fintech Review

JUNE 12, 2024

We explore the innovations in personalised insurance products, the role of IoT devices in data collection and risk assessment, and the challenges faced by established insurance companies integrating new technologies. Enhanced Risk Assessment IoT data provides insurers with a more accurate understanding of risk profiles.

Risk Assessment 96

Risk Assessment Regulatory Compliance Assessments Risk Management 96

PYMNTS

DECEMBER 11, 2020

But because we're in a pandemic, we're also trying to assess how they're doing in 2020, and what their plans might be to get back up and running to where they were previously.". It will also include the continuing practice of looking beyond historical data to assess SMBs' future performance when decisioning and underwriting a loan.

Posting 93

Posting Small Business Assessments Returns 93

The Fintech Times

NOVEMBER 21, 2024

Companies use data-driven innovations, combining AI, big data, and IoT, to automate ESG assessments and enable real-time environmental monitoring. This shift from historical to real-time data, powered by satellite imaging and geospatial analysis, transforms risk assessment across the sector.

Innovation 64

Innovation FinTech Risk Assessment Assessments 64

FICO

FEBRUARY 7, 2023

Home Blog FICO Top 5 Scores Posts of 2022: Steady FICO Score, BNPL and Alternative Data 2022 marked the first year in over a decade the average FICO Score did not increase, while the industry’s attention remained on topics such as alternative data and BNPL. Read the full post 2. Read the full post 3. Read the full post 4.

BNPL 52

BNPL Posting Underwriting Credit Risk 52

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

The Fintech Times

MARCH 29, 2024

From enhancing risk assessment accuracy to personalising products and services, insurers are leveraging data analytics to optimise decision-making processes, mitigate risks and cater to evolving consumer needs. “At Cowbell, we are actively assessing the cyber risk posture of over 39 million businesses in the US and the UK.

Risk Assessment 59

Risk Assessment Underwriting Assessments Risk 59

PYMNTS

NOVEMBER 18, 2019

Faster payment services could help such consumers get much-needed funds, as long as lenders can access equally fast underwriting tools. Underwriting tools boost the confidence of both borrowers and lenders, and help the latter more seamlessly access reliable bank data that supersedes credit scores. A Complete Banking Picture.

Underwriting 41

Underwriting Federal Reserve Payments Faster Payments 41

Finovate

MARCH 13, 2024

This will impact how banks and fintechs use AI for customer interactions, underwriting, and fraud detection. Therefore, banks using AI systems must assess and reduce risks, maintain use logs, be transparent and accurate, and ensure human oversight.

AI 111

AI Laws Fraud Detection Assessments 111

The Fintech Times

OCTOBER 2, 2024

As the financial partner, Wio Bank utilises proactive decision-making insights from the platform to assess the performance and financial health of businesses, enabling accurate and timely lending decisions. The post Magnati and Wio Bank Join Forces to Accelerate Embedded Finance Usage Across UAE appeared first on The Fintech Times.

Embedded Finance 72

Embedded Finance Finance Point-of-Sale (POS) Underwriting 72

The Fintech Times

MARCH 26, 2024

.” Flood risk Bob Schiller , director of product innovation at insurer SageSure addresses the significant gap in flood insurance coverage by highlighting the role of data in accurately assessing flood risk and facilitating insurers’ adaptation to evolving risks. times more properties that have substantial flood risk.

Underserved 115

Underserved FinTech Financial Inclusion Risk 115

Finovate

APRIL 10, 2024

Instead, Petal leverages users’ open banking data as underwriting data to offer them credit and help them establish a credit history. We believe that modern product design and new technologies like cash flow underwriting can be used to radically improve credit access around the world,” said Petal Co-founder Jason Rosen.

Credit Cards 52

Credit Cards Underserved Underwriting Acquirers 52

Finovate

SEPTEMBER 23, 2024

Credit scoring and underwriting Agentic AI can autonomously assess creditworthiness by analyzing vast amounts of structured and unstructured data, such as transaction histories, social media activity, and economic conditions. Photo by cottonbro studio The post Are You Ready for Agentic AI? appeared first on Finovate.

AI 105

AI Assessments Compliance Automation 105

EBizCharge

NOVEMBER 12, 2024

Merchant application information is critical in the underwriting process , which assesses the risk of providing merchant services to a business. Financial statements: Recent financial records to assess financial stability. This helps the payment processor assess your business’s risk profile.

Online and Mobile Banking 52

Online and Mobile Banking Processors Debit Card Volume 52

Fintech News

SEPTEMBER 4, 2024

Paywatch, which operates across Malaysia, the Philippines, Indonesia, and South Korea, has recorded notable growth, processing over US$58 million in salaries to date and posting monthly disbursements of nearly US$8 million. The company expects to exceed US$120 million in disbursed salaries by the end of the year. With a US$6.6

FinTech 109

FinTech Cross-Border Payment APIs and Integration Credit Cards 109

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 93

ATM Credit Risk On-Demand Underwriting 93

Fintech News

AUGUST 12, 2024

Technology firm Microsoft is working with Axis Bank and Aditya Birla Capital, among others, to deploy processes using genAI to transform contact centers, boost sales and overhaul claims and underwriting processes. The book size of digital lenders in India is projected to grow from US$38.2

Embedded Finance 98

Embedded Finance FinTech Non-Bank Cross-Border 98

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. ” The post How Has AI Impacted the Embedded Finance Space in Recent Years?

Embedded Finance 134

Embedded Finance AI Finance Assessments 134

Nanonets

MARCH 27, 2023

From application submission to underwriting and funding, mortgage automation can simplify the steps involved in getting a loan approved. In this blog post, we'll explore the benefits of mortgage automation, the role of OCR technology in the process, and how Nanonets can help streamline the workflow.

Automation 52

Automation Regulatory Compliance Underwriting Origination 52

Fintech Finance

SEPTEMBER 10, 2024

Klarna underwrites every transaction based on strict eligibility assessments and boasts a 99% repayment rate globally. The post Klarna Partners with UATP to Tap the $1 Trillion Air Travel Industry appeared first on FF News | Fintech Finance. Globally, about 30% of the payments Klarna processes are immediate payment.

BNPL 78

BNPL Payment Networks Credit Cards APACS 78

The Fintech Times

SEPTEMBER 2, 2024

By adopting these solutions, clients are expected to optimise their credit decision processes, increase underwriting efficiency and reduce costs. In addition, the partnership will also enable the refinement of risk models and credit policies, leading to more precise assessments in their credit operations.

Financial Inclusion 72

Financial Inclusion AI Underserved Underwriting 72

Nanonets

APRIL 11, 2023

In this blog post, we will discuss the challenges faced by commercial lenders today, the pain points in the loan process, and how loan automation can address these issues to deliver significant benefits to all stakeholders. This includes borrower information, income, and other relevant details required for underwriting.

Origination 52

Origination Automation Risk Assessment Underwriting 52

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

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

FICO

OCTOBER 27, 2016

It is also an important assessment tool for third parties such as potential business partners and, notably, cyber insurance providers. The number of underwriters active in the US market is growing rapidly as well, with a double-digit CAGR. The lingua franca of cyber breach underwriting .

Risk 97

Risk Underwriting Breach Risk Assessment 97

CB Insights

MARCH 4, 2021

Allianz and Munich Re will integrate with Google Cloud in order to access customers’ data in order to better assess the cyber risks they face and provide more personalized protection. Other information like if the company uses 2-factor authentication will also be provided for underwriting purposes.

Cybersecurity 74

Cybersecurity Underwriting Identity Theft Wire Transfer 74

The Fintech Times

MAY 5, 2024

Not only are Resilience’s clients more effective at avoiding loss, but they also are more proactive about assessing and mitigating that risk. ” The post Resilience Launches New Cyber Risk Tools to Empower Clients to Improve Their Risk Mitigation appeared first on The Fintech Times. .

Risk Mitigation 69

Risk Mitigation Mitigation Risk Ransomware 69

CB Insights

JUNE 17, 2020

The pandemic has forced retailers and brands to go all in on their online operations, and the momentum virtual commerce is gaining seems likely to carry over to a post-virus world. Regulation will play a significant role in how opportunities in the fintech space take shape in a post-Covid world. Some experts, however, aren’t so sure.

Posting 101

Posting Technology Online and Mobile Banking On-Demand 101

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 post Case Study: J.P. By combining J.P.

AI 59

AI B2B Finance Underwriting 59

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. And financial institutions use FICO® Scores to underwrite lending to millions of people so that they can achieve their financial goals like buying a first home or starting a business.

Consumer 52

Consumer Underwriting Credit Risk Risk Assessment 52

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.

Product 52

Product Underwriting On-Demand Underserved 52

Finovate

JUNE 13, 2024

Pinwheel’s Verify product allows financial institutions to improve their underwriting processes by accessing their customers’ verified income and employment information. Photo by Skye Studios on Unsplash The post Pinwheel Partners with Lumin to Offer Deposit Switching Within Digital Banking Suite appeared first on Finovate.

Direct Deposit 59

Direct Deposit Payroll Credit Union Underwriting 59

CB Insights

NOVEMBER 3, 2022

Underwriting and claims automation. Why it matters: Insurers can use geospatial analytics to quickly and accurately underwrite policies and virtually assess claims for property insurance without needing in-person inspections. What’s next: Underwriting and claims teams have prioritized geospatial analytics in recent years.

Underwriting 95

Underwriting Risk Management Risk Product 95

Stax

FEBRUARY 15, 2024

PayFacs also provide a streamlined onboarding experience, manage underwriting, and handle compliance for its sub-merchants. They handle merchant onboarding, including underwriting and meeting regulatory requirements like Know Your Customer (KYC) mandates.

ISVS 88

ISVS Facilitators ISOs Payment APIs and Integration 88

Clearly Payments

DECEMBER 5, 2023

PayFacs Adyen Braintree Intuit Payments PayPal Square Stripe The Steps to Get a Payment Processing Account The process of obtaining a payment processing account involves several steps, encompassing application submission, underwriting, and approval. This assessment aims to evaluate the risk associated with your transactions.

Processors 52

Processors ISOs Payment APIs and Integration Payments 52