Fintech News

FEBRUARY 10, 2025

In fintech, Agentic AI could enhance fraud prevention, risk management, trading, and customer engagement by autonomously analysing financial data, detecting anomalies, and executing decisions in real time. Theres a risk that AI could inadvertently expose data through cyberattacks, algorithmic vulnerabilities, or insufficient safeguards.

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AI FinTech Fraud Detection Fraud Prevention 74

The Payments Association

APRIL 8, 2025

Fraudsters, armed with advanced technologies and professional networks, are exploiting gaps in systems and consumer behaviour. Lin Tao ( Prezzee ) highlighted the disproportionate risk her industry faces: Gift cards are inherently attractive to scammers due to their high liquidity and minimal traceability.

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Fraud Detection Fraud Prevention Scams Participant 88

Payments Source

AUGUST 6, 2020

One of the few clear implications from the initial two months of the lockdown with the changes to consumer behavior and the uncertainty ahead is the imperative for organizations to regain clarity on credit risk by obtaining a more complete picture of consumer creditworthiness, says LexisNexis Risk Solutions' Ankush Tewari.

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Credit Risk Risk Payments Consumer 115

FICO

JANUARY 21, 2020

Credit scoring is widely used in South Africa to determine the risk of credit applicants — using this kind of objective, precise measure of risk lets banks, retailers and other organizations lend with more confidence, which in turn means more people get approved for credit. About the Empirica Score.

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Credit Risk Risk Economy Origination 52

FICO

APRIL 28, 2023

Credit Risk and FICO Score Trends? Consumers face debt burden challenges that could impact U.S. credit risk and FICO® Score trends. economy, credit scores, and credit risk trends were headed. At the start of the pandemic, uncertainty surrounded where the U.S. consumers?

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Credit Risk Risk Risk Assessment Assessments 52

Stax

MARCH 13, 2025

In 2023, 27% of all point-of-sale (POS) payments were made using credit cards while 23% were made with debit cards. A survey by Forbes Advisor also revealed that 33% of consumers prefer to use credit cards as they’re safer than carrying cash. Credit card companies also use them to fund rewards programs.

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Debit Card Credit Cards Processors Processing Costs 88

PYMNTS

JANUARY 22, 2021

Given the roller coaster ride consumer finances have been on for the last 10 months, managing risk has become critical for financial institutions (FIs), both in terms of rising fraud counts and in terms of rising consumer delinquencies. But AI, he said, can provide a lot more than that in terms of protecting FIs from risk.

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AI Credit Risk Point-of-Sale (POS) Risk 106

Fintech Finance

MARCH 18, 2025

AKUVO , a leading technology organization specializing in collections and credit risk management, is proud to announce that Prosperity Bank , with $40 billion in total assets, has chosen AKUVO’s platform to streamline its collections processes. We are excited to see the long-term impact this will have on our collections process.”

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Credit Risk Risk Management Volume Process 59

The Payments Association

NOVEMBER 18, 2024

The shift driven by fintechs could erode banks’ dominance, forcing them to modernise or risk losing a significant share of the market. While banks still hold the majority of merchant relationships and dominate acquiring market share in most regions, they face an existential risk. Why is it important? What’s next?

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FinTech Online and Mobile Banking Acquirers Fraud Prevention 88

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. Expanding Access to Credit With AI.

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Risk AI Underwriting Assessments 89

FICO

AUGUST 16, 2021

It serves as a broad-based, independent standard measure of credit risk. It is relied upon by stakeholders across the entire lending ecosystem – from regulators, investors and boards to consumers, lenders, and brokers – as a baseline metric for assessing credit risk that is fair to both lenders and consumers. .

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Consumer Credit Cards Continuity Credit Risk 98

The Payments Association

JANUARY 3, 2025

Fraudsters, armed with advanced technologies and professional networks, are exploiting gaps in systems and consumer behaviour. Lin Tao ( Prezzee ) highlighted the disproportionate risk her industry faces: Gift cards are inherently attractive to scammers due to their high liquidity and minimal traceability.

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Fraud Detection Fraud Prevention Participant Financial Crimes 88

Payments Source

FEBRUARY 5, 2019

Young consumers don't have long credit records, but they do make lots of recurring payments that can feed credit risk decisioning, according to Barrett Burns, president and CEO of VantageScore Solutions.

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Consumer Payments Data Credit Risk Payments 65

FICO

AUGUST 23, 2021

Based on the 2020 US Census , the US credit-eligible population (those over 18 years of age) is 258 million people. But how many of those consumers can obtain a FICO® Score? . Calculations by FICO data scientists indicate that more than 232 million US consumers can be scored by the FICO® Score suite.

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Consumer Research CFPB Credit Risk 98

PYMNTS

NOVEMBER 11, 2020

Fintech Partner Connect will “support new ways for businesses and consumers to seamlessly and securely pay, get paid, send money and more,” a spokesperson for the credit card and financial services giant said in an email announcing the new program on Visa on Wednesday (Nov.

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FinTech Credit Risk Small Business NOV 110

FICO

NOVEMBER 30, 2017

Managing fraud is a balancing act that starts with knowing your fraud risk appetite. Fraud managers have to look beyond losses and loss prevention and consider consumers’ need for a frictionless experience, regulators’ stipulations and the competitive pressures of fintech disruptors. Step 3 – Collaboration with Risk.

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Risk Fraud Detection Assessments Origination 82

Payments Dive

DECEMBER 14, 2022

Exposure to consumer credit risk and lower-income spending is significant for those three payments companies, analysts warned Tuesday.

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Credit Risk Risk Consumer Payments 88

PYMNTS

JULY 8, 2020

Mastercard is harnessing artificial intelligence (AI) in a bid to hit fraudsters hard by searching for emerging patterns of criminal activity before they become major problems, two top executives told Karen Webster during Mastercard’s Virtual Cyber & Risk Summit. “In AI Also Helps Manage Credit Risk.

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Visa AI Credit Risk Risk 109

PYMNTS

DECEMBER 10, 2020

And in banking, financial institutions can incorporate artificial intelligence into their consumer credit strategies at a time when a retroactive approach to credit risk management has become less feasible amid COVID-19. 48.8% : Portion of consumers who require a vaccine before returning to their routines.

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Credit Risk Risk Management AI On-Demand 102

FICO

JUNE 26, 2020

By actively working with lenders and consumers to navigate the current situation, it is apparent that precise analytics are as important as ever to help avoid over-tightening of credit which can delay an economic recovery. . For instance, higher-resilience consumers tend to have: More experience managing credit.

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Credit Risk Risk Assessments Origination 98

FICO

JUNE 13, 2017

The use of scores that rate a firm’s cybersecurity risk — such as the FICO® Enterprise Security Score — is picking up momentum. As more entities rely on these scores and ratings, their governing bodies and relevant regulatory agencies will care more about how these tools are used to drive decisions to mitigate risk.

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Risk Disputes Cybersecurity Best Practices 85

The Fintech Times

NOVEMBER 2, 2024

Banks By 2020, Bhutan’s financial sector included five banks, three insurance companies, one CSI bank, five microfinance institutions, one pension institution, two telecom companies as well as a single stock exchange.

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Financial Inclusion Technology FinTech Credit Cards 69

The Fintech Times

APRIL 15, 2024

“By analysing big data and rapidly assessing risks, AI empowers financial companies to make well-informed decisions. Natasa Kyprianidou, senior director at Alvarez & Marsal “Traditional credit decision timelines, extending over weeks or months, have been dramatically shortened to seconds thanks to AI-driven algorithms.

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Embedded Finance AI Finance Assessments 134

Fintech Finance

DECEMBER 10, 2024

Curve , the ultimate digital wallet, has announced the appointments of Robert Pasco as General Manager of Curve Credit and Ash Woolf as Senior Credit Risk Manager. With the UK’s unsecured consumer credit market valued at 232 billion, there is a great opportunity for responsible, innovative and ethical solutions.

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Innovation Consumer Credit Risk Risk Management 52

PYMNTS

MAY 13, 2019

The proposed credit card interest rate cap legislation , courtesy of Democratic presidential hopeful Senator Bernie Sanders and Rep. Alexandria Ocasio-Cortez is in serious need of an almost half-century-old refresher course in the unintended consequences of price caps on the American consumer. consumers by as much as 40 percent.

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Consumer Caps Credit Cards Push-to-Card 78

FICO

OCTOBER 21, 2021

How can lenders best measure and manage credit risk, given the disruptive patterns in consumer behaviour over the last 18 months? Last week a FICO team met with chief risk officers from some of the biggest UK banks to discuss these and other challenges, at our UK CRO Summit. Managing Risk Models in a Crisis.

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FICO

DECEMBER 8, 2022

Addressing Portfolio Risk in Economic Uncertainty: Part 1 (2022). This four-part series looks at embedding portfolio risk resilience into decisions across the credit lifecycle through targeted application of the FICO ® Resilience Index. risk that only manifests during periods of economic stress) more precisely.

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Addressing Risk Credit Risk Risk Management 52

FICO

FEBRUARY 18, 2021

Retail consumers, small and medium enterprises, and commercial entities are looking to banks for increasing levels of support and assistance, especially as government-introduced stimulus programs start to mature and expire around the globe. Here are our five recommendations for credit risk managers.

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Risk Credit Risk Advisors Adjustments 59

FICO

JULY 7, 2021

Leveraging FICO’s heritage of scoring expertise, the new models outperform prior FICO industry version scores in key use cases while providing the same trusted user and consumer experience as prior versions. The FICO® Auto Score 10 provides strong performance for prime thin and new-to-credit files many of who maybe first-time auto borrowers.

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Card Issuer Credit Cards Credit Risk Issuers 98

FICO

OCTOBER 24, 2022

Plus, FICO Score 10 T utilizes a consistent odds-to-score relationship as the prior FICO Score version used by the Enterprises, offering continuity and stability for lenders, investors and consumers. FICO® Score 10 T incorporates trended credit bureau data. FICO Score 10 Suite Available from All Three Credit Bureaus.

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Credit Risk Risk Consumer Continuity 93

FICO

MAY 11, 2021

Credit risk industry veterans who managed consumer loan portfolios through the Great Recession can recall the challenge of responding to swiftly changing borrower payment behavior and the resulting delinquency and default rate volatility during that time. risk that only manifests during periods of economic stress).

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Addressing Risk Credit Risk SWIFT 52

FICO

AUGUST 29, 2022

FICO® Score Stays Steady at 716, as Missed Payments and Consumer Debt Rises. Each year, we provide insight into the national average FICO ® Score to help ensure consumers have a baseline measure of credit health standing. consumer reporting agencies (CRAs). Average U.S. by Ethan Dornhelm. expand_less Back To Top.

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Consumer Credit Cards Payments Government 98

FICO

DECEMBER 20, 2018

For my predictions, I’ll focus on four areas of tactical concern within consumer banking that I feel confident bank executives will make significant progress addressing 2019. The post Consumer Banking Predictions 2019: Four Trends to Watch appeared first on FICO. Banks Will Get Smarter in the War for Deposits. The good times are over.

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Consumer Emerging Payments OCC FDIC 73

FICO

MAY 11, 2021

Credit risk industry veterans who managed consumer loan portfolios through the Great Recession can recall the challenge of responding to swiftly changing borrower payment behavior and the resulting delinquency and default rate volatility during that time. risk that only manifests during periods of economic stress).

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Addressing Risk Credit Risk SWIFT 52

FICO

OCTOBER 18, 2016

And if that consumer is looking to secure any type of credit, the party on the other end of the transaction will use the FICO Score to critically inform an important decision: should my organization assume business risk by transacting with this person? A score that quantifies cyber risk.

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Cybersecurity Assessments Ransomware Data Breach 96

FICO

DECEMBER 8, 2022

Addressing Portfolio Risk in Economic Uncertainty: Part 3 (2022). Building portfolio risk resilience into customer management. Lenders must adopt a similar mindset as they manage the financial health of their consumer lending portfolios to insulate their existing assets from potential portfolio risk volatility.

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Fintech Review

MARCH 20, 2024

As well as the increasing application of AI in financial services for risk management and personalized experiences. Financial services are increasingly using AI to manage risks, combat money laundering, and offer personalized customer experiences. Lastly, consumers must see its value and start using the technology.

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AI API Risk Credit Risk 104