Fintech News

MARCH 18, 2024

Modal Rakyat’s use of “wallet insurance” from PT Citra International Underwriters, which apparently provides only administrative services rather than direct protection of lender funds, has been a particular point of contention.

P2P 103

P2P Disputes Legal Underwriting 103

PYMNTS

JANUARY 24, 2018

While legal marijuana companies in the U.S. Small, independent brokers are jumping into the industry, as Canada plans to legalize the drug this year, with these players securing underwriting fees and, in some cases, warrants that become more valuable as marijuana company stock values increase.

Legal 43

Legal Underwriting Cryptocurrency Facilitators 43

International Payments Processing

AUGUST 30, 2021

Is It Legal To Sell Kratom? This development has made the online selling of Kratom more complex, and it’s only legal to sell Kratom in some states, not in others. Kratom Merchant Account Because of the legality of the products, it isn’t easy to get a Kratom merchant account. Why is kratom a High-Risk Business?

Accounts 88

Accounts Credit Cards Legal Processors 88

International Payments Processing

AUGUST 30, 2021

Is It Legal To Sell Kratom? This development has made the online selling of Kratom more complex, and it’s only legal to sell Kratom in some states, not in others. Kratom Merchant Account Because of the legality of the products, it isn’t easy to get a Kratom merchant account. Why is kratom a High-Risk Business?

Accounts 88

Accounts Credit Cards Legal Processors 88

PYMNTS

FEBRUARY 1, 2021

According to PwC, the average underwriting fee is 7 percent for a range of $25 million to $99 million. SPACs have grown in popularity in part because of the high expense of taking a private company public. That number decreases to about 3.5 percent for deals above $1 billion.

Underwriting 79

Underwriting Legal Checks Risk 79

M2P Fintech

APRIL 11, 2025

With the gold loan market continuing to expand, particularly in rural and semi-urban India, this framework focuses on improving underwriting, valuation, collateral safety, and end-use transparency. Background: Current State of Gold Lending RBIs review uncovered widespread irregularities and recurring issues in gold loan practices.

Due Diligence 52

Due Diligence Caps Audit Non-Bank 52

The Fintech Times

OCTOBER 29, 2024

Appointments UK digital MGA Ripe appoints David Rowntree as its new chief underwriting officer. Rowntree has held senior roles at Zurich, RSA, Legal & General and Swiss Re. He was most recently head of property and SME for the UK and Europe at Wakam.

FinTech 64

FinTech Multi-Currency Embedded Finance Cryptocurrency 64

The Fintech Times

MARCH 22, 2024

They are most impactful for functions where large volumes of natural language information are processed, such as compliance, legal, risk management and underwriting. Generative AI assistants are trained on specific policies, procedures and regulations.

AI 64

AI Underwriting Legal Consulting 64

Stax

JANUARY 8, 2024

Several US legislations (like the Patriot Act, anti money laundering laws , or FinCEN regulations) require PayFacs to know the identities of the business owner(s) they plan to facilitate payments for, during the underwriting stage. This requires sound underwriting policies and procedures.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

The Payments Association

MARCH 18, 2025

In India, telecom data is being leveraged to assess first-time borrowers, while in Kenya, mobile money transaction data is already driving credit underwriting for underserved populations. However, without a legally mandated structure, adoption has been slower compared to its neighbor.

Finance 88

Finance Payment APIs and Integration Non-Bank Embedded Finance 88

PYMNTS

AUGUST 14, 2020

And what will be interesting to see, he noted, is how that emerging commerce center will affect the wider worlds of underwriting, fraud, know your customer (KYC) and all the things that determine where the risk lies and what entity is responsible for it. There’s people that get hurt by these services getting shut down,” he said.

FinTech 120

FinTech Push-to-Card Rules Credit Cards 120

PYMNTS

DECEMBER 3, 2018

In addition, payouts for data breaches might be limited to the legal minimum, without anything extra the client may want to spend, such as keeping customers informed. If underwriters can’t predict where security threats will come from, it’s very hard to reward companies for their security posture today.”.

Disputes 73

Disputes Data Breach Breach Underwriting 73

PYMNTS

DECEMBER 22, 2020

Legal Cannabis Steps Into The World Of Trade Credit. But in the legal cannabis space, a lack of digital payments adoption and bank participation has left marijuana vendors unable to offer trade credit to their retail customers. Offering sales to corporate customers on trade credit is an important component of B2B trade.

Commercial Card 79

Commercial Card B2B Legal Accounts 79

PYMNTS

MAY 29, 2018

The system got a major boost in the 1970s with the passage of The Fair Credit Reporting Act , which officially regulated what information would be collected as well as created rules that made credit reports something consumers had a legal right to both see and dispute. Alternative Data Streams Good (And Not So Good). What’s Next.

Financial Inclusion 62

Financial Inclusion Underwriting Credit Cards Disputes 62

Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. PayFacs also handle risk assessment, underwriting, settling of funds, compliance, and chargebacks. Think of them as service providers that rent their master merchant accounts to their clients.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Fintech News

FEBRUARY 27, 2024

Zhang admitted to past compliance challenges, and Airwallex has also dealt with a demanding work environment and high turnover rates, particularly in its legal, risk, and compliance teams, which experienced a 14% departure rate in one 2022 quarter.

FinTech 120

FinTech Risk Federal Reserve Compliance 120

Nanonets

MARCH 26, 2023

Underwriting: The lender evaluates the borrower's application and documentation to determine the level of risk associated with the loan. Conditional approval: Once the underwriting and appraisal are complete, the lender issues a conditional approval, which outlines the terms and conditions of the loan.

Automation 52

Automation Process Underwriting Origination 52

Nanonets

DECEMBER 13, 2023

A survey by Accenture on underwriting employees found that up to 40% of underwriters’ time is spent on non-core and administrative activities. This reduces the risk of unintentional non-compliance and helps insurers stay within the legal boundaries.

AI 102

AI Process Fraud Detection Compliance 102

PYMNTS

MARCH 25, 2019

The new Director Kathleen Kraninger has proposed eliminating one of the components of the rule, which put in place new underwriting requirements for lenders (such as verifying borrowers’ ability to repay the payday loans). The judge wrote in his March 19 ruling that he had not received a request to lift the stay.

CFPB 51

CFPB Rules Consumer Financial Protection Bureau (CFPB) Underwriting 51

FloQast

APRIL 12, 2024

If the securities will be offered through underwriters, this section gives the names of the principal underwriters and the amounts underwritten. It also identifies any underwriter with a material relationship with the company and the nature of that relationship. Interests of named experts and counsel.

Underwriting 52

Underwriting Indemnification Due Diligence Legal 52

Nanonets

MAY 3, 2023

This has many niche challenges under it: credit ratings, loan applications, underwriting, stock buy and sell decisions, cash flow management, and more. Rebank Rebank is a finance and legal database for companies operating in multiple countries and currencies. Each document will be completely legal for each country that it affects.

AI 94

AI Finance Advisors Fed 94

PYMNTS

MARCH 31, 2020

Then, SmartLenders works to automatically collect the required documents, complete underwriting and close the loans. SmartLenders is backed up by professionally-trained banking and legal experts who overlook the process and make sure everything is compliant with SBA regulations, according to the release.

Process 52

Process Payroll Underwriting Legal 52

Finovate

JUNE 13, 2024

Pinwheel’s Verify product allows financial institutions to improve their underwriting processes by accessing their customers’ verified income and employment information. Because Pinwheel is a Consumer Reporting Agency (CRA), financial institutions can legally use the income and employment data for credit decisioning.

Direct Deposit 59

Direct Deposit Payroll Credit Union Underwriting 59

Clearly Payments

DECEMBER 5, 2023

PayFacs Adyen Braintree Intuit Payments PayPal Square Stripe The Steps to Get a Payment Processing Account The process of obtaining a payment processing account involves several steps, encompassing application submission, underwriting, and approval. Providing accurate and complete documentation aids in expediting the underwriting process.

Processors 52

Processors ISOs Payment APIs and Integration Payments 52

Stax

NOVEMBER 27, 2023

If you’re starting the underwriting process and have no idea how to make sense of the complex world of KYC and all the terminology involved, you’re in the right place. That said, besides the legal and financial repercussions, there are ethical reasons to have a strong AML and KYC policy in place. million ($47.3 million ($47.3

Due Diligence 88

Due Diligence Money Laundering AML Financial Crimes 88

PYMNTS

JULY 17, 2018

Meanwhile, a recent regulation change could make it easier for credit unions to participate in the real estate underwriting process. A credit union advocacy organization is pushing to make changes to regulations that would make it easier for credit unions to do serve businesses involved in the legalized marijuana business.

Credit Union 40

Credit Union Regs Push-to-Card Underwriting 40

PYMNTS

MARCH 3, 2017

has developed software to help companies manage financial agreements to ensure legal enforceability and compliance. 2), will go toward continuing global expansion as well as the development of new data applications that can help the financial services industry use this type of information for underwriting and lending purposes.

B2B 59

B2B Agreements Underwriting Participant 59

PYMNTS

MAY 29, 2019

Align applies underwriting standards when it evaluates customers because what it is offering is technically — and more importantly, and legally speaking — not a loan. Customers get a repayment schedule running from two to five years, and the contract states it will take no more than 10 percent of someone’s income.

Agreements 59

Agreements Laws Underwriting Caps 59

Nanonets

APRIL 24, 2023

Additionally, lenders may be exposed to legal liability if they fail to properly verify the information contained in a fake bank statement. Borrowers may also be racked with debt and legal trouble. This can lead to lenders extending credit to borrowers who are not actually able to repay the loan.

Fraud Detection 52

Fraud Detection Automation Underwriting Reconciliation 52

PYMNTS

APRIL 17, 2020

Open banking connectivity not only means that the information is integrated much more quickly, but it also allows lenders to expand the scope of their underwriting process beyond a few months of transaction data. It’s a conundrum that has already emerged in the U.S.,

Innovation 83

Innovation Payment APIs and Integration Use Case Reconciliation 83

PYMNTS

APRIL 20, 2020

However, once a customer has demonstrated that their loan qualifies, the CARES Act requires that underwriters must extend forbearance for a maximum of 180 days, with the possibility of applying for an additional 180-day extension at the end of that initial period.

Consumer 56

Consumer Underwriting Economy Laws 56

PYMNTS

NOVEMBER 21, 2019

When it comes to professional liability cases, insurers have seen “a tripling of verdicts over $10 million over the past three years,” said Rob Francis, who runs healthcare underwriting at ProAssurance — for example, a recent $230 million settlement against a Baltimore hospital, which is now the largest U.S. malpractice award to date.

Underwriting 52

Underwriting Settlement Adjustments Accounts 52

PYMNTS

OCTOBER 6, 2017

That’s because banks still hold the strongest traction with small business borrowers, are able to provide the strength in underwriting capabilities and revenue and liquidity cushions necessary to remain viable. million by Legal & General, while Blenheim Chalcot also participated, according to reports. The company, based in the U.K.,

B2B 61

B2B P2P Small Business Finance 61

Nanonets

APRIL 11, 2023

Fragmented communication between borrowers, lenders, and third parties: In the absence of a unified platform, communication between borrowers, lenders, and third parties, such as appraisers or underwriters, can be fragmented and inconsistent. This includes borrower information, income, and other relevant details required for underwriting.

Origination 52

Origination Automation Risk Assessment Underwriting 52

PYMNTS

MAY 20, 2016

Lending Club, for its part, said that it plans to cooperate with the DFS investigation, which also looks for information on underwriting and other business procedures and how these myriad practices square with consumer protection laws and laws governing fair business practices. The requested New York information dates back to 2013.

Regulations 40

Regulations Laws Underwriting Caps 40

Stax

DECEMBER 27, 2023

Setting up a merchant account involves choosing the right merchant account provider for your needs, identifying your type of business, submitting an application, and undergoing an underwriting process to assess risk. Request Quote What Is a Merchant Account? Be prepared to answer questions about: Your expected transaction volumes.

Accounts 88

Accounts Online and Mobile Banking Payment Gateways PCI DSS 88

Finovate

FEBRUARY 6, 2024

. “Alloy’s platform will allow us to enter new markets quickly, optimize our merchants’ fully digitized application for funding and scale to meet our partners’ demand, while also maintaining our high standards for compliance,” Liberis’ Chief Legal & Compliance Officer Alexis Alexander said.

Risk Management 59

Risk Management Risk Embedded Finance Compliance 59