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5 Lessons APAC Digital Banks Can Learn from Nubank’s US$1B Profitability Journey

Fintech News

Embrace Financial Inclusion One of the key drivers behind the success of Nubank has been its unwavering commitment to financial inclusion — a major focal area for APAC digital banks as well. This presents a massive untapped market for digital banks willing to prioritise financial inclusion.

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Prosper Extends Credit to 200K Near-Prime Clients with FICO Scores

FICO

As of March 2023, Prosper has effectively managed credit limit changes for over 25,000 customers, with over 70 percent of them receiving credit limit increases. are currently credit invisible and need a path to access credit,” said Prosper CEO, David Kimball. “At Millions of consumers in the U.S.

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Truth Squad: Will Looser Scoring Standards Help Millions More Americans Get Mortgages?

FICO

Access to credit and the path to homeownership are important parts of the American way of life. That’s why it’s critical to understand what can be done to improve financial inclusion — and what won’t work. New to Credit : consumers with 1+ recently active/updated accounts, but with less than 6 months of credit history.

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How Transaction Analytics Transform Lending Speed and Results

FICO

The data explosion has also made banks curious about finding new customers and driving financial inclusion. There are an estimated 3 billion adults worldwide who don’t have credit and so don’t have credit records. How FICO Platform Can Help You Achieve Greater Returns from Lending.

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Stripe Teardown: How The $35B Payments Company Plans To Supercharge Online Retail

CB Insights

Additionally, the company must underwrite risk, and is on the hook in the event of fraud or returned items. The product offers business cards to existing Stripe customers with dynamic credit limits, real-time expense reporting, and personalized rewards, including 2% cashback in a business’ top 2 spending categories each month.

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Petal CEO: Using Cashflow — Not FICO — To Issue Credit Cards

PYMNTS

“One of the interesting things we learned – if you take two customers who save an identical amount each year, but one puts a consistent amount of money away each month and the other just saves whatever they don’t spend, the customer on the regular savings plan ends up doing better as a financial manager in the long run,” said Gross.