Stax

JANUARY 8, 2024

However, several complex types of risks come along with this. As such, PayFacs need to equip themselves with an effective risk management strategy that helps them continuously monitor risks and employ appropriate risk responses if needed. Let’s get started.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

PYMNTS

MARCH 10, 2020

Inaccurate and slow credit risk assessment for [small- to medium-sized business (SMB)] commercial loan requests is one of the major reasons that over 50 [percent] of loans are currently declined by financial institutions (FIs),” said Roger Vincent, chief innovation officer at Trade Ledger.

Risk Assessment 52

Risk Assessment Assessments Risk Underwriting 52

PYMNTS

MARCH 23, 2020

But after years of finding SMBs too unprofitable to finance, lenders have to play catch-up to develop better underwriting processes for greater accuracy and efficiency. “But at the same time, they have all lacked a credible tool to conduct an assessment of these [SMBs] in an independent way.”

Underwriting 75

Underwriting Risk Assessment Risk Mitigation Mitigation 75

The Fintech Times

MAY 5, 2024

Resilience , the US-based cyber risk solution company, has introduced two new cyber risk tools to its cyber insurance package, in a move to help its clients reduce losses from cyberattacks. Not only are Resilience’s clients more effective at avoiding loss, but they also are more proactive about assessing and mitigating that risk.

Risk Mitigation 69

Risk Mitigation Mitigation Risk Ransomware 69

The Fintech Times

MARCH 12, 2024

Among these, the insurance industry stands as a critical player uniquely positioned to drive sustainable initiatives and proactively manage climate-related risks. As the world grapples with the increasingly urgent need to address climate change, industries across the board are being called upon to play their part in mitigating its effects.

Mitigation 72

Mitigation Risk Underwriting Risk Assessment 72

PYMNTS

NOVEMBER 2, 2020

Bloomberg customers will now be able to use the news site's terminal to look at Credit Benchmark 's credit risk data, which comes from risk views of the world's largest financial institutions, according to a press release. They can also assess ongoing credit quality. The pandemic has created rifts of uncertainty in the markets.

Credit Risk 85

Credit Risk Risk Risk Management Assessments 85

PYMNTS

APRIL 24, 2020

These circumstances have brought to the fore what has long been a central concern for lenders: assessing and managing credit risk. This vital task is complicated even in normal times due to the multitude of financial risk factors in play at any given time. percent employ it for credit underwriting.

Credit Risk 100

Credit Risk Risk AI Underwriting 100

Finezza

JANUARY 4, 2024

A combination of superior risk assessment, fraud detection capabilities, and quick and accurate underwriting turnaround can transform a lender’s success rate with borrowers and reduce non-performing assets. The revenue growth and profitability of a lending business depend on several factors.

Transactions 94

Transactions Fraud Detection Risk Assessment Underwriting 94

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

FICO

SEPTEMBER 18, 2020

For the second year running, FICO has been named as category leader in the recently published Chartis ‘Cyber Risk Quantification Solutions 2020: Market Update and Vendor Landscape’ report. As the report shows, the market for Cyber Risk Quantification Solutions (CRQ) continues to show rapid growth.

Risk 52

Risk Assessments Underwriting Cybersecurity 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

Finovate

MAY 6, 2024

Via the partnership, Alloy customers will be able to access Coris’ solutions to automate SMB onboarding, underwriting, and fraud prevention. “We’re excited to partner with Coris on improving the SMB risk management process for builders of financial products,” Alloy GM of Partner Solutions Brian Bender said.

Automation 52

Automation Risk Underwriting Embedded Finance 52

Payments Source

JANUARY 28, 2020

Alternative lending companies are one of the strongest examples of how leveraging rich financial transaction data can be used to go beyond traditional credit risk assessments, says Finsync's Eddie Davis.

Underwriting 84

Underwriting Risk Assessment Payments Data Digital Payments 84

Fintech News

JUNE 12, 2024

This platform, Reinsurance-as-a-Service (RAAS), offers a fully digital customer experience, from onboarding and risk profiling to policy issuance. It integrates an advanced cyber risk exposure scanning solution into the underwriting process. ” said Ian Lim, Chief Executive Officer of Lexasure.

Risk Assessment 75

Risk Assessment Assessments Cybersecurity Underwriting 75

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

The Fintech Times

MARCH 31, 2024

Is the insurance sector risking over-reliance on artificial intelligence, and what’s the balance between innovation and human expertise? LexisNexis Risk Solutions John Beal, senior vice president, data science, LexisNexis Risk Solutions. “Take underwriting. “In particular, transparency is key.

Risk 69

Risk AI Underwriting Automation 69

PYMNTS

AUGUST 28, 2017

In a press release , the company said the move was a result of a study with ZestFinance that measured the effectiveness of machine learning to better predict risk in auto financing and potentially expand auto financing for millennials and other Americans with limited credit histories. “At ƒFord Motor Credit Co.

Credit Risk 41

Credit Risk Assessments Risk Underwriting 41

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. The integration of cash flow data could help expand credit access while maintaining risk management practices.

Underwriting 59

Underwriting Risk Management Credit Risk Issuers 59

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. per cent dip.

Innovation 64

Innovation FinTech Risk Assessment Assessments 64

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. This has been a big focus for the business in response to strong market demand for consumer loans in China.

Risk 97

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

PYMNTS

NOVEMBER 3, 2020

Today in B2B, Bloomberg broadens its credit risk data pool, and two ERP solutions secure B2B payments integrations. Bloomberg To Incorporate Credit Risk Data. The release stated firms have more often been looking for data to validate their own internal counterparty and credit risk assessment. 2) announcement.

Credit Risk 88

Credit Risk B2B Risk ISO 20022 88

International Payments Processing

DECEMBER 29, 2021

We believe that all merchants in high risk industries deserve high-quality payment processing solutions to run and scale their businesses. Why High Risk Businesses Get Denied a Merchant Account? How Rapid Application Processing Helps You Get a High Risk Merchant Account Fast?

Risk 88

Risk Process Accounts Gateways 88

International Payments Processing

DECEMBER 29, 2021

We believe that all merchants in high risk industries deserve high-quality payment processing solutions to run and scale their businesses. Why High Risk Businesses Get Denied a Merchant Account? How Rapid Application Processing Helps You Get a High Risk Merchant Account Fast?

Risk 88

Risk Process Accounts Gateways 88

FICO

OCTOBER 27, 2016

ESS can be used by an enterprise to understand its cyber risk and shore up defense gaps. 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.

Risk 97

Risk Underwriting Breach Risk Assessment 97

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

Payment Savvy

APRIL 14, 2021

Card brands, such as Visa and MasterCard, assess risk levels before boarding a merchant. Due to an acquiring bank processing card funds on behalf of merchants, MasterCard and Visa delegate this risk review to them. Merchant’s Risk Review. Determining merchant risk is not clear-cut. These factors include: .

Acquirers 52

Acquirers Risk Visa Underwriting 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. “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

MARCH 31, 2024

Is the insurance sector risking over-reliance on artificial intelligence, and what’s the balance between innovation and human expertise? However, the risks for AI are real and have been well reported on a cross-industry basis. AI is augmenting human capabilities rather than replacing them.

Risk 64

Risk AI Underwriting Automation 64

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.

Underserved 115

Underserved FinTech Financial Inclusion Risk 115

PYMNTS

MARCH 26, 2019

The plan, which illustrates the growing dangers of hacking, is meant to create an assessment system for the most viable cybersecurity defenses available to businesses. The unit will collect and analyze scores from insurers participating in the program, aiming to find the services that most effectively reduce the risk from cyber hackers.

Cybersecurity 54

Cybersecurity Assessments Underwriting Participant 54

Finovate

MARCH 13, 2024

This will impact how banks and fintechs use AI for customer interactions, underwriting, and fraud detection. Compliance and oversight The ruling specifically calls out banking as an “essential private and public service” and categorizes it as a high-risk use of AI.

AI 111

AI Laws Fraud Detection Assessments 111

FICO

JULY 28, 2020

A 2019 Allianz survey of risk management experts across 86 countries ranked cyber incidents as the biggest single point of risk for an organization, thus highlighting the need for an effective insurance policy to transfer risk from potentially damaging effects of a cyber-attack.

Underwriting 69

Underwriting Assessments Breach Data Breach 69

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

Finovate

SEPTEMBER 23, 2024

Offer autonomous roboadvisory with algorithmic trading Roboadvisors have been popular in fintech since 2015, but Agentic AI will make it possible for firms to autonomously manage investment portfolios by analyzing market trends, risk profiles, and financial goals.

AI 105

AI Assessments Compliance Automation 105

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

FICO

SEPTEMBER 13, 2021

Consumer habits have shifted to online shopping for goods and services and the impact for merchant acquirers is the need for faster onboarding of new merchants and effective ongoing monitoring to minimise fraud and compliance risk. Automate as much of the underwriting process as possible. Gather actionable and objective data.

Risk 52

Risk Micro-Entry Underwriting Acquirers 52

PYMNTS

JUNE 24, 2020

The insurance industry is all about risk mitigation, and not only when it comes to underwriting policies. Averse to the risk of change, the property and casualty (P&C) insurance arena has been resistant to embrace electronic payments when disbursing funds to claimants.

Business Continuity 114

Business Continuity Mitigation Risk Continuity 114