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An AI Blueprint For More Profitable Portfolios In 2021

PYMNTS

This was a year that bent and broke quite a few risk forecasting models, thus all the more reason to bring AI smarts to bear on transaction volumes scaling far beyond a human pace. Circumstances] have underscored the singular importance of artificial intelligence (AI) in managing credit risk as well as supporting other bank operations.

AI 87
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How Are Incumbents Adjusting Their Offerings to Become More Accessible?

The Fintech Times

. “Opportunities with things like consumer-permissioned data, specifically around consumer bank transactions, can help FI’s learn more about their customer and provide them with better products, make more intelligent credit risk decisions, and help their customers directly to enrich their credit history.

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What are Developing Countries Doing to Improve Access to Finance?

The Fintech Times

This shift has led to a bunch of great advancements in mobile banking and money apps, making it possible for financial services to reach even the most remote areas. Governments are promoting digital payment systems and mobile banking to reach unbanked populations.

Finance 59
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Big Blue Backs Mobile Banking in Rural China

Fintech Labs Insights

With the new technology, FJRC will be able offer better customer service via mobile service vehicles and provide more direct service through convenient service outlets and mobile banking. Blockchain services, as well as advanced credit risk analysis, or BigCredit, both are two areas of focus for IBM’s research in China.

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How 60+ Startups Are Disrupting Retail And Commercial Banking Around The World

CB Insights

This year in the US, JP Morgan launched mobile banking app Finn and Goldman Sachs’ retail banking arm Marcus crossed 1.5M Chime is a mobile banking app that provides a checking account-like service through a partnership with Bancorp, debit cards through Visa, and optional round-up savings accounts.

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Fintech Fundings: 20 Companies Raise $300 Million Week Ending July 17

Fintech Labs Insights

Credit Benchmark. Independent source of consensus credit risk. Mobile banking platform. Mobile payment system for restaurants. Tags: Digital banking, mobile. Latest round: $30 million. Total raised: $34 million. Source: Boston Business Journal. HQ: London, UK. Latest round: $20 million.

FinTech 29
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Stripe Teardown: How The $35B Payments Company Plans To Supercharge Online Retail

CB Insights

Despite its benefits, Stripe’s PayFac model also means that the company absorbs more merchant risk by serving as a master merchant account, and that it’s responsible for downside risk in the event of chargebacks and fraud. Stripe’s market opportunity. Series A, 2019).