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SMB Loan Underwriting Prepares For Turbulent Times

PYMNTS

But after years of finding SMBs too unprofitable to finance, lenders have to play catch-up to develop better underwriting processes for greater accuracy and efficiency. This presents a gap in the market and an opportunity for FinTechs to fill it with automated underwriting technologies, like an automated small business credit score.

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Resilience Launches New Cyber Risk Tools to Empower Clients to Improve Their Risk Mitigation

The Fintech Times

NetDiligence, the cyber risk firm, revealed that both average ransom demands and average incident costs have skyrocketed since 2018, in its latest Cyber Claims Study. ” The post Resilience Launches New Cyber Risk Tools to Empower Clients to Improve Their Risk Mitigation appeared first on The Fintech Times. .

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‘Critical’ That Businesses Improve Risk Mitigation and Security as AI Threat Increases, Says Lloyd’s

The Fintech Times

. “Generative AI is not the first, and won’t be the last, disruptive technology to impact the cyber threat landscape, so it is critical that businesses improve their risk mitigation, security and defence technologies, as well as seek appropriate risk transfer today, more than ever before.”

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Rethinking The SME Loan Underwriting Model In Southeast Asia

PYMNTS

Traditional banks will require credit histories and collateral to underwrite a small business loan, both of which many SMBs in Southeast Asian nations lack. At the root of the matter is often a lack of predictive data to ascertain the creditworthiness of these small- to medium-sized businesses (SMBs). Improving The SMB Lending Experience.

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The Role of Digital Payouts In Mitigating The Insurance Industry’s Business Continuity Risks

PYMNTS

The insurance industry is all about risk mitigation, and not only when it comes to underwriting policies. Averse to the risk of change, the property and casualty (P&C) insurance arena has been resistant to embrace electronic payments when disbursing funds to claimants.

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CapX Taps Moody’s For SMB Loan Underwriting

PYMNTS

Equipment finance company CapX Partners has announced an integration of Moody’s Analytics technology to strengthen its underwriting and risk mitigation capabilities. The company issued a press release on Thursday (Jan.

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How Opening Bank Data Can Transform SMB Lending

PYMNTS

But lenders themselves, even industry incumbents, are also quickly recognizing the potential that unlocking data has not only on improving the SMB borrowing experience, but on significantly improving their own internal operations, particularly when it comes to risk mitigation.