Fintech News

DECEMBER 20, 2023

Buy now, pay later (BNPL) arrangements, a type of short-term financing that allows customers to make purchases and pay for them in monthly installments, are growing strongly around the world, picking up steam among both customers and merchants. million in 2023.

BNPL 105

BNPL Consumer Financial Protection Bureau (CFPB) Settlement Non-Bank 105

FICO

OCTOBER 17, 2022

Open Banking in the Philippines and the Opportunities in the Data. How data sharing can improve credit risk decisioning. Open Banking in the Philippines - the path ahead. Open Banking in the Philippines promises to give customers the control to share their data and allow third-party providers to access their data.

Credit Risk 52

Credit Risk Payment APIs and Integration Consulting Risk 52

PYMNTS

FEBRUARY 15, 2018

Commercial credit risk solutions provider Credit2B is rolling out a portal for trade credit suppliers to share and access information about B2B payment experiences in real time. After collecting that information, Credit2B automatically generates a credit score to analyze the financial strength of a company.

Risk 43

Risk Credit Risk Non-Bank Assessments 43

CB Insights

APRIL 22, 2020

Such low cash buffers help explain why small businesses rely heavily on external financing in times of crisis. SMBs need financing, but many banks have been slow to process loan applications and even slower to disburse funds. Lending marketplaces can cement themselves as go-to sources for SMBs and their financing needs.

FinTech 87

FinTech Processors Government Governance 87

PYMNTS

OCTOBER 8, 2018

The International Chamber of Commerce ‘s (ICC’s) Banking Commission is collaborating with bank-owned database Global Credit Data (GCD) to broaden the scope of the ICC’s Trade Register, an announcement revealed Monday (Oct. trillion-worth of exposures.

Risk 59

Risk Non-Bank Database Credit Risk 59

PYMNTS

MAY 24, 2019

Baoshang Bank, based in Inner Mongolia, will be taken over by China’s banking and insurance regulator over critical credit risks, according to a report by Reuters. Takeovers of banks are rare in China, and this is the first one in almost 20 years. The bank’s non-performing loan ratio, as of December 2016, was 1.68

Regulations 63

Regulations Non-Bank Small Business Credit Risk 63

PYMNTS

MAY 1, 2019

at Export Development Canada (EDC), said that before products like trade finance , bank capital and trade credit insurance come into play, supporting SMBs’ ability to find and choose the right customers and markets across borders is key. Of course, suppliers often need to be connected with financing, too.

Cross-Border 55

Cross-Border Non-Bank Finance Risk 55

Nanonets

APRIL 5, 2023

Traditional underwriting processes may not assess creditworthiness accurately for a borrower who derives income from non-traditional sources. Filtering customers based on income and savings, in addition to credit scores, can be a stronger predictor of mortgage risk. Verify KYC/AML based on geography.

Automation 52

Automation Process Risk Assessment Assessments 52

PYMNTS

FEBRUARY 9, 2018

Invoice financing company MarketInvoice is enhancing its product offering through a new collaboration with Euler Hermes. Recent high-profile corporate failures reinforce the need to be increasingly aware of the risks of late or non-payment for goods and services provided on credit.”. Reports Thursday (Feb.

Risk Mitigation 40

Risk Mitigation Non-Bank Risk Underwriting 40

PYMNTS

OCTOBER 4, 2019

India’s FinBox landed an undisclosed amount of pre-Series A funding, reports in Inc42 said this week, with investors at Arali Ventures leading the investment in the credit risk management technology startup. Australia’s ANZ Bank led a $1.56 Australia’s ANZ Bank led a $1.56 ForwardLine Financial.

B2B 51

B2B Payment APIs and Integration Participant Small Business 51

FICO

JANUARY 19, 2023

The unprecedented level of financial support during the past two years has created an expectation among consumers and businesses that banks and other institutions will continue to provide help, support and forbearance, as and when they are adversely impacted financially. How credit and debit card spending and borrowing are changing over time.

Risk 52

Risk Non-Bank Credit Risk Continuity 52

PYMNTS

JULY 26, 2017

Treasury’s Office of the Comptroller of the Currency (OCC) has again released its report on top risks facing banks, with its Spring 2017 analysis warning FIs that threats are coming from all angles. The federal banking system is, and should be, a source of strength for the nation and its economy.

OCC 46

OCC Office of the Comptroller of the Currency Money Laundering Non-Bank 46

FICO

SEPTEMBER 29, 2020

The attendees had a combined experience of over 300 years across analytics, credit risk and operations across Europe, UK, the Middle East and Southern Africa. Further to “strategic defaulters”, make an attempt to start having sight of collaborators vs. non-collaborators. Platforms have become more advanced.

Non-Bank 87

Non-Bank Risk Participant Automation 87

FICO

FEBRUARY 9, 2017

For all the differences between traditional banks and new online lenders, there is one business challenge that unites both groups: acquiring new customers. While online lenders experiment with offline marketing tactics, banks are aggressively ramping up their online marketing efforts, with total digital ad spend by U.S.

Online and Mobile Banking 40

Online and Mobile Banking Non-Bank Card Issuer Identity Theft 40

PYMNTS

MAY 16, 2018

It’s been a full year for SoFi , as the personal finance company attempts to get back on track after a 2017 that was, at best, tumultuous. Those efforts soon expanded into ancillary areas of lending, most notably mortgages and personal loans – and even talk that SoFi might make the leap to actually become an official bank.

Non-Bank 40

Non-Bank Credit Risk Advisors Volume 40

FICO

NOVEMBER 30, 2022

Profitability and Customer Financial Health in Retail Banking. In my recent Forbes article , I explored a vision for the future of retail banking where the customer’s complete financial wellness is at the center of decision making. For this, banks need a more robust model of financial wellness. FICO Admin. by Bill Waid.

Non-Bank 52

Non-Bank Credit Cards Process Returns 52

CB Insights

DECEMBER 4, 2019

If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”. Based on our findings, it’s hard to claim that Amazon is building the next-generation bank. In aggregate, these product development and investment decisions reveal that Amazon isn’t building a traditional bank that serves everyone.

Online and Mobile Banking 101

Online and Mobile Banking Push-to-Card Payment APIs and Integration Non-Bank 101

PYMNTS

MAY 17, 2017

The theme across all of these offerings, he said, is one of using alternative data, traditional data and technology to assess the risk of small businesses that are tied to a “small business information gap” that cuts across millions of small firms. The extension of credit, said Cutler, “is something of a business accelerator.

Small Business 40

Small Business Risk Assessments Credit Risk 40

PYMNTS

FEBRUARY 7, 2020

Things were a bit more active on the Amazon front, with a big infrastructure investment pushing its market cap back over the $1 trillion line, a new B2B financing partnership with Goldman Sachs potentially in the offing and its expanding stores and services menu.

Push-to-Card 52

Push-to-Card Underwriting Caps Small Business 52

CB Insights

OCTOBER 10, 2018

Traditional banking products, including checking, credit, and savings accounts, are under threat from a new crop of digital-first startups. Many of these startups are launching products without a bank charter and targeting a very specific customer base. DOWNLOAD THE 61-PAGE consumer banking REPORT. savings accounts.

Online and Mobile Banking 78

Online and Mobile Banking Debit Card Credit Cards Non-Bank 78

FICO

APRIL 15, 2021

The FICO Credit Market Report for the UK paints a conflicting picture of UK consumer finances, with both increased financial stress and reduced spending. Consequently, FICO has seen a continuing increase in the average amount consumers are spending over their credit card limit, which could be a clear sign of financial stress.

Credit Cards 52

Credit Cards Card Issuer Issuers Accounts 52

PYMNTS

DECEMBER 10, 2016

The consumer credit market has huge potential — trillions and trillions of dollars — and I wanted to ride that winner. Lending Club’s model does not need bank branches on each street corner, and it can turn around in minutes and hours, not days. banks at the time. The Trouble With “Not Being A Bank”.

Non-Bank 73

Non-Bank Compliance Push-to-Card Origination 73

FICO

SEPTEMBER 18, 2018

Instant access to online banking and therefore easy access to committing fraud due to the safe status of being an ‘existing’ customer. Andy: Credit risk is the bigger player in account originations. The overall question the organization is asking is ‘should we extend credit to this(these) individual(s)?'.

Fraud Detection 51

Fraud Detection Best Practices Automation Checks 51

FICO

SEPTEMBER 20, 2018

Instant access to online banking and therefore easy access to committing fraud due to the safe status of being an ‘existing’ customer. Andy: Credit risk is the bigger player in account originations. The overall question the organization is asking is ‘Should we extend credit to this(these) individual(s)?'.

Fraud Detection 45

Fraud Detection Best Practices Automation Checks 45

PYMNTS

JUNE 7, 2018

Most business still looked to banks, despite the fact that in the wake of the financial crisis and subsequent credit crunch, lending from banks more or less ground to a halt where SMBs were concerned. It’s also important, he noted, to steer away from being all things to all people.

Small Business 49

Small Business Underwriting Risk Product 49

Fintech Labs Insights

AUGUST 27, 2020

Service UX: US Bank’s Well-Designed Appointment Scheduler. Watch How INSTNT Removes Risk from New Applications (Aug 2020 Startup of the Week). If you are on a hyper-growth curve, make sure to apply for the Inc 2021 list by next May. And while you are at it, please add your fintech startup to our database.

FinTech 15

FinTech CRM Caps Database 15

FICO

JANUARY 15, 2021

In our top post, Vice President and General Manager of Scores, Sally Taylor explained the new FICO Resilience Index, designed to provide lenders with a more precise assessment of consumer credit risk and consumers with demonstrated talent for weathering economic storms greater access to credit.

Posting 59

Posting Agreements Credit Cards Consumer 59

PYMNTS

DECEMBER 19, 2016

16) said Lendingkart will offer its credit risk assessment technology to banks and other alt-lenders starting in 2017. According to Lendingkart Cofounder Harshvardhan Lunia, the company will look to expand its reach in the SME lending market over the next six months by having other banks use its credit risk analytics software.

Credit Risk 40

Credit Risk Risk Risk Assessment Assessments 40

PYMNTS

JUNE 6, 2018

Most business still looked to banks – despite the fact that in the wake of the Financial Crisis and subsequent credit crunch lending from banks more or less ground to a halt where SMBs were concerned. Factoring is a tough product and hard to manage entirely online.” It is also, he noted, a badly misunderstood product.

Small Business 40

Small Business Underwriting Risk Product 40

PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. The Rundown on the Run-up to the Decisions.

P2P 54

P2P Origination Underwriting Returns 54

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

FICO

MAY 19, 2021

From banks to telcos to debt collection agencies, what looks like unrecoverable bad debt may in fact be first-party fraud. For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. What Is First-Party Fraud? Tue, 07/02/2019 - 02:45.

Cross-Border 52

Cross-Border Crime Credential Money Laundering 52

FICO

MAY 19, 2021

Furthermore, you might automatically assume that first-party fraud only affects banks, but as telcos evolve into payment processing and handset financiers, they also are now feeling the pinch. In contrast, first-party fraud often masquerades as a credit risk problem; delinquent accounts are sent to collections for a progression of treatment.

Cross-Border 52

Cross-Border Crime Money Laundering Credential 52

PYMNTS

JUNE 17, 2020

In financial fraud, the breaches come when bank standards are lax. Australian bank Westpac Banking Corp. And that guiding principle is what leads fraudsters and bad actors to probe systemic vulnerabilities in banks’ compliance processes. may stand as Exhibit A here. There was no evidence of intentional wrongdoing.”.

AML 75

AML Money Laundering Compliance Financial Crimes 75

PYMNTS

DECEMBER 13, 2016

The issues that have kept millennials out of the mortgage market tend to fall into three categories: lack of sufficient credit, lack of sufficient funds for a down payment or lack of a sufficiently long employment record to get lenders comfortable with them as a credit risk. Capturing That Millennial Customer.

Credit Risk 84

Credit Risk Non-Bank Risk On-Demand 84

FICO

FEBRUARY 15, 2021

With the rise of Open Banking, this trend is now hitting financial services. Are you ready to become a banking ecosystem? In financial services, the switch to digital financial marketplaces is being driven by the proliferation of fintechs and customer-centric legislation that’s enabled Open Banking. Are You Ready?

Online and Mobile Banking 52

Online and Mobile Banking Non-Bank Authorization Fraud Prevention 52

FICO

JANUARY 27, 2022

Managing risk and improving the customer experience during a pandemic presented credit professionals with new sets of challenges. The Impact of Covid-19 on Credit Card Payments . Read the full post: The Impact of Covid-19 on Credit Card Payments . Open Banking: Are You Ready to Become a Banking Ecosystem? .

Posting 52

Posting Payment APIs and Integration Non-Bank Financial Crimes 52