Finovate

MAY 16, 2024

The score combines consumer-permissioned open banking data with data from Experian, Equifax, or TransUnion to improve lenders’ underwriting efforts. The company, which is committed to financial inclusion, saw the usage of its VantageScore increase by 42% in 2023, when it reported more than 27 billion credit scores.

Underwriting 52

Underwriting Adjustments Financial Inclusion Underserved 52

FICO

MARCH 25, 2020

The introduction of the score has enabled Home Credit to underwrite and evaluate new clients with a thin file more objectively. For its achievement, Home Credit was awarded the 2019 FICO® Decisions Award for Financial Inclusion. This type of financial inclusion is good for the consumer and good for our business.

Risk 97

Risk Financial Inclusion Point-of-Sale (POS) Risk Assessment 97

PYMNTS

SEPTEMBER 15, 2017

Good credit isn’t built overnight, and neither are underwriting systems that help consumers build it. According to Orloff, LendUp and Beneficial State came up with the idea to offer a socially responsible credit card product several years ago, but it only came to market this spring. We have to change this entire system.”.

Financial Inclusion 79

Financial Inclusion FinTech Credit Cards Caps 79

PYMNTS

OCTOBER 22, 2018

In a press release , Tala said the undisclosed investment from PayPal will help the company bring visibility and access to underserved regions in emerging markets across the world. It also makes it difficult for the traditional financial services companies to reach these consumers. 22) a strategic investment from PayPal.

PayPal 77

PayPal Underserved Underwriting Consumer 77

PYMNTS

SEPTEMBER 17, 2019

Currently, more than 200,000 customers use FairMoney to access financing, with the company’s algorithm using data from a user’s smartphone to underwrite those loans. Our vision is to build a holistic financial platform for underserved customers in emerging markets,” explained FairMoney CEO Laurin Hainy in a statement.

Financial Inclusion 46

Financial Inclusion Underserved Small Business Underwriting 46

Payment Savvy

SEPTEMBER 5, 2024

It also streamlines a range of services that businesses depend on, from loan underwriting to real estate appraisals. By merging artificial intelligence with data about consumers, fintech companies can gain deeper insights into their customers, which in turn fuels the engines of marketing efforts for products and underwriting processes.

FinTech 52

FinTech Online and Mobile Banking Payment APIs and Integration Cryptocurrency 52

PYMNTS

OCTOBER 30, 2018

Underwriting is still very complicated in India, where 20 percent of customers do not have a bank account.”. As of yet, the firm has not raised any funding, though it was recently accepted by the Mumbai-based Financial Inclusion Lab as part of its class of 11 innovators chosen for mentoring and upscaling their activities.

Consumer 49

Consumer Financial Inclusion Underserved Underwriting 49

PYMNTS

DECEMBER 18, 2018

It’s not only hard for banks in the region to underwrite profitably, it is incredibly hard for them to evaluate consumers in terms of credit-worthiness. Small-dollar loans — less than a thousand dollars — are hard for banks to offer profitably.

Underserved 54

Underserved Product Underwriting Economy 54

PYMNTS

APRIL 4, 2018

I think one of the great promises of more fair and accurate underwriting is bringing people back into the markets that have had an issue,” he said. Before we ever sought a dime of angel investment dollars, we were talking to financial regulators in D.C. about their vision,” Gross noted.

Credit Cards 53

Credit Cards Underwriting Product Regulations 53

PYMNTS

MARCH 21, 2017

There is also the reality of what the panel called “legislatively enshrined bias” where lenders have to factor in information about borrowers, even if they know it isn’t really well correlated to underwriting outcomes. No one wants to be biased.

Crime 45

Crime CFPB Push-to-Card Credit Cards 45

CB Insights

FEBRUARY 13, 2020

‘PayFac’ technology simplifies underwriting and onboarding. Additionally, the company must underwrite risk, and is on the hook in the event of fraud or returned items. ‘PayFac’ technology simplifies underwriting and onboarding merchants. TABLE OF CONTENTS. A decade of online payments innovation.

Payment APIs and Integration 98

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

PYMNTS

MARCH 10, 2016

PayPal’s Financial Inclusion Partnership. PayPal has extended another relationship aimed at supporting startups that serve the financially excluded — a population that instead often turns to their mobile devices for financial needs (less access to banks). And that was just in the past four days.

Online and Mobile Banking 41

Online and Mobile Banking EMV P2P Mobile Deposit 41

PYMNTS

MARCH 7, 2016

Yes, the sobering reality of having to really make money has become an unwelcome wake-up call for those who masked the real value of their business with the never-ending piles of VC cash that just kept underwriting losses and kicked the revenue can way down the road. ARE WE AS AN INDUSTRY DESTINED TO WHIFF ON FINANCIAL INCLUSION?

Online and Mobile Banking 46

Online and Mobile Banking Payments Financial Inclusion Same Day ACH 46