PYMNTS

SEPTEMBER 15, 2016

In an effort to bridge what is increasingly being known as the “inclusion gap” for minorities, Visa is finding promise in supporting products for financial inclusion in the credit union and community bank portfolio. To hurdle the financial gap that exists for these underserved populations in North America.

Financial Inclusion 76

Financial Inclusion Credit Union Underserved Non-Bank 76

FICO

MAY 7, 2018

Some of the top thought leaders in banking, finance, artificial intelligence, machine learning, and credit risk came together in San Francisco to discuss the key trends and innovations in our industry. A key driver of successful financial inclusion is the ability for lenders to effectively gauge the risk of an underserved consumer.

Financial Inclusion 77

Financial Inclusion Innovation Credit Risk Underserved 77

FICO

MAY 19, 2023

In total, Prosper extended more than USD $225M in credit access to these consumers. Prosper also proactively mitigates credit risk and meets the increasing credit demand for creditworthy customers based on their monthly updated FICO® Scores. You can read more about this story in the full media release.

Financial Inclusion 52

Financial Inclusion Credit Limit Financial Literacy Credit Risk 52

The Fintech Times

JULY 24, 2024

For example, variables such as screen resolution, the presence of banking apps, and the number and length of calls have all been shown to be predictive of credit risk. Opening branches and installing ATMs in remote locations and lower-income neighbourhoods can improve access to credit for the underserved residents in those areas.”

Finance 59

Finance Micro-Entry Online and Mobile Banking Financial Inclusion 59

PYMNTS

NOVEMBER 2, 2018

In China , X Financial specializes in helping underserved prime borrowers and mass affluent investors by matching those borrowers with investors willing to loan them money. That means the big opportunity for X Financial comes from the 400 million or so Chinese consumers who have credit cards, but are hampered by limits that are too low.

P2P 53

P2P Credit Cards Underserved Credit Limit 53

FICO

JANUARY 4, 2018

“By contrast, growth in student loan debts outpaced inflation, being both greater in number as well as balances; this undoubtedly creates a drag on capacity for other forms of consumer credit.”. A New Way to Score Credit Risk – Psychometric Assessments. Using Alternative Data in Credit Risk Modelling.

Posting 58

Posting Risk Credit Risk Regulatory Compliance 58

PYMNTS

JANUARY 25, 2019

” In another statement, Moody’s Analytics Director of Product Management Ed Oetinger said the partnership with CapX will help the firm expand into an underserved segment of the market. . “We have not been able to find a comparable tool that incorporates both tradeline and financial statement data.”

Underwriting 43

Underwriting Small Business Risk Mitigation Underserved 43

FICO

JULY 18, 2022

Machine Learning is simply another analytic technique; one that can help produce highly predictive credit scores which must also be explainable, with two important caveats: . The use of Machine Learning must be balanced with deep domain expertise in credit risk modeling. ML does not create new data.

AI 52

AI Financial Inclusion Fraud Detection CFPB 52

FICO

MAY 22, 2019

Instead, innovative analytic firms such as FICO are investing in identifying new predictive and compliant data sources to build models that accurately assess if underserved borrowers are in a position to successfully take on a new credit obligation.

Demand Deposit Account (DDA) 68

Demand Deposit Account (DDA) Credit Risk On-Demand Deposit Account 68

FICO

JULY 15, 2022

While the introduction of credit scoring technology introduced by FICO in the late 50's changed lending forever; it’s worth exploring what it takes to make a social impact today. It means the inclusion of credit markets that are less developed, where a larger part of the population is underserved. No, it's not.

Financial Inclusion 52

Financial Inclusion Underserved Consumer Innovation 52

PYMNTS

SEPTEMBER 20, 2018

The opportunity is also gigantic, Cheng told Webster, given that the country has some 800 million working adults, with less than half of them in possession of a credit card. X Financial specializes in helping underserved prime borrowers and mass affluent investors in China by matching those borrowers with investors willing to loan them money.

P2P 66

P2P Credit Cards Online and Mobile Banking Credit Limit 66

FICO

DECEMBER 1, 2022

Here's an example of why we need to focus more on practical uses of Generative AI: Open banking represents a huge revolution in credit evaluation, particularly for the underserved. Generative AI can be applied practically to produce realistic, relevant transaction data for developing real-time credit risk decisioning models.

AI 98

AI Government Governance Audit 98

PYMNTS

JANUARY 11, 2018

The medical arena – including elective procedures like laser hair removal, dental, orthodontics and equipment, such as wheelchairs, Burnside noted – is a massive market that is largely underserved. Just one of Loan Hero’s medical equipment-focused practices, Burnside noted, pushes through $500 million in financing a year alone.

Consumer 43

Consumer Underwriting Risk Management Underserved 43

PYMNTS

SEPTEMBER 25, 2019

What those consumers — and the businesses that could potentially be serving them — need is a way to evaluate their actual risk level in the absence of the standard data that informs a traditional FICO score. Luckily, he noted, just such a font of data happens to exist for almost every member of that cohort.

Underwriting 49

Underwriting Credit Cards Underserved Risk 49

PYMNTS

AUGUST 8, 2017

When news of the financial crisis broke in 2008 and big banks all over the world were eschewing consumer and small business credit markets, Batine and Dunaev saw an opportunity — one that was particularly pressing in developing nations, an area of the world that was below the big banks’ radars.

Small Business 42

Small Business Finance FinTech Underserved 42

CB Insights

OCTOBER 10, 2018

What these startups share is the goal of creating customer-centric banking products that target underserved individuals and businesses. Many of the startups disrupting banking are reaching customers who are either underserved by existing bank accounts or do not qualify to open an account (unbanked). Underbanked/Unbanked.

Online and Mobile Banking 78

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

FICO

JUNE 5, 2023

But as more providers take steps towards extending mobile phone leasing to underserved markets, new demographics and segments with thin credit files, while offering the lasts handsets and access to high-speed services, they face a multitude of challenges.

Finance 52

Finance Credit Risk Risk Origination 52

Fintech News

JANUARY 18, 2024

Using remote sensing technologies on farmland, the bank assesses credit risk based on crop growth and various factors. This approach ensures that even farmers in remote areas can access credit. This not only boosted the accessibility of SME loans but also contributed to the bank’s growth.

APACS 104

APACS Finance Cross-Border Ubiquitous 104

CB Insights

FEBRUARY 13, 2020

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. Source: Stripe.

Payment APIs and Integration 98

Payment APIs and Integration Online and Mobile Banking Payments Push-to-Card 98

The Fintech Times

FEBRUARY 19, 2024

A compliant bearer deposit token instrument would eliminate counterparty credit risk and could enable a decentralised digital identity-based pre-validation protocol to deliver low-cost automated global compliance, transparency, and privacy. BIS Aurum) and interoperability solutions (e.g, Deutsche Bundesbank Trigger Solution).

Cross-Border Payments 69

Cross-Border Payments Cross-Border Stablecoins Multi-Currency 69

FICO

JANUARY 11, 2023

Here's an example of why we need to focus more on practical uses of Generative AI: Open banking represents a huge revolution in credit evaluation, particularly for the underserved. Generative AI can be applied practically to produce realistic, relevant transaction data for developing real-time credit risk decisioning models.

AI 52

AI Posting Audit Government 52

FICO

MAY 23, 2022

Finding a way to score millions without credit history. Círculo de Crédito , the fastest-growing credit bureau in Mexico, has used unique credit risk scores from FICO to boost financial inclusion in Mexico and help an additional 20 million citizens access credit.

Financial Inclusion 52

Financial Inclusion Embedded Finance Risk Assessment Assessments 52