PYMNTS

MARCH 23, 2020

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. “But at the same time, they have all lacked a credible tool to conduct an assessment of these [SMBs] in an independent way.”

Underwriting 75

Underwriting Risk Assessment Risk Mitigation Mitigation 75

Finezza

JANUARY 4, 2024

A combination of superior risk assessment, fraud detection capabilities, and quick and accurate underwriting turnaround can transform a lender’s success rate with borrowers and reduce non-performing assets. The revenue growth and profitability of a lending business depend on several factors.

Transactions 94

Transactions Fraud Detection Risk Assessment Underwriting 94

Fintech Review

JUNE 12, 2024

We explore the innovations in personalised insurance products, the role of IoT devices in data collection and risk assessment, and the challenges faced by established insurance companies integrating new technologies. Enhanced Risk Assessment IoT data provides insurers with a more accurate understanding of risk profiles.

Risk Assessment 96

Risk Assessment Regulatory Compliance Assessments Risk Management 96

The Fintech Times

MARCH 12, 2024

Among these, the insurance industry stands as a critical player uniquely positioned to drive sustainable initiatives and proactively manage climate-related risks. As the world grapples with the increasingly urgent need to address climate change, industries across the board are being called upon to play their part in mitigating its effects.

Mitigation 72

Mitigation Risk Underwriting Risk Assessment 72

Fintech News

JUNE 12, 2024

This platform, Reinsurance-as-a-Service (RAAS), offers a fully digital customer experience, from onboarding and risk profiling to policy issuance. It integrates an advanced cyber risk exposure scanning solution into the underwriting process. ” said Ian Lim, Chief Executive Officer of Lexasure.

Risk Assessment 86

Risk Assessment Assessments Cybersecurity Underwriting 86

Payments Source

JANUARY 28, 2020

Alternative lending companies are one of the strongest examples of how leveraging rich financial transaction data can be used to go beyond traditional credit risk assessments, says Finsync's Eddie Davis.

Underwriting 84

Underwriting Risk Assessment Payments Data Digital Payments 84

PYMNTS

NOVEMBER 2, 2020

Bloomberg customers will now be able to use the news site's terminal to look at Credit Benchmark 's credit risk data, which comes from risk views of the world's largest financial institutions, according to a press release. They can also assess ongoing credit quality. The pandemic has created rifts of uncertainty in the markets.

Credit Risk 85

Credit Risk Risk Risk Management Assessments 85

PYMNTS

APRIL 24, 2020

These circumstances have brought to the fore what has long been a central concern for lenders: assessing and managing credit risk. This vital task is complicated even in normal times due to the multitude of financial risk factors in play at any given time. percent employ it for credit underwriting.

Credit Risk 100

Credit Risk Risk AI Underwriting 100

FICO

MARCH 25, 2020

Home Credit , a global non-bank consumer lender, has successfully reduced its credit risk while maintaining loan volumes and keeping approval rates steady by incorporating the FICO® Score X Data to optimize its loan process in China. This has been a big focus for the business in response to strong market demand for consumer loans in China.

Risk 97

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

The Fintech Times

MARCH 29, 2024

From enhancing risk assessment accuracy to personalising products and services, insurers are leveraging data analytics to optimise decision-making processes, mitigate risks and cater to evolving consumer needs. “At Cowbell, we are actively assessing the cyber risk posture of over 39 million businesses in the US and the UK.

Risk Assessment 59

Risk Assessment Underwriting Assessments Risk 59

FICO

AUGUST 16, 2021

FICO Applauds FHFA Inclusion of Rental Data in Underwriting. Last week, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae will begin considering borrowers’ rental payment history in its risk assessment process. Joanne Gaskin. Mon, 08/16/2021 - 18:53.

Underwriting 52

Underwriting Risk Assessment Assessments Financial Inclusion 52

The Fintech Times

MARCH 31, 2024

Is the insurance sector risking over-reliance on artificial intelligence, and what’s the balance between innovation and human expertise? However, the risks for AI are real and have been well reported on a cross-industry basis. AI is augmenting human capabilities rather than replacing them.

Risk 64

Risk AI Underwriting Automation 64

FICO

OCTOBER 27, 2016

ESS can be used by an enterprise to understand its cyber risk and shore up defense gaps. It is also an important assessment tool for third parties such as potential business partners and, notably, cyber insurance providers. The number of underwriters active in the US market is growing rapidly as well, with a double-digit CAGR.

Risk 97

Risk Underwriting Breach Risk Assessment 97

Payment Savvy

APRIL 14, 2021

Card brands, such as Visa and MasterCard, assess risk levels before boarding a merchant. Due to an acquiring bank processing card funds on behalf of merchants, MasterCard and Visa delegate this risk review to them. Merchant’s Risk Review. Determining merchant risk is not clear-cut. These factors include: .

Acquirers 52

Acquirers Risk Visa Underwriting 52

FICO

APRIL 28, 2023

Credit Risk and FICO Score Trends? credit risk and FICO® Score trends. economy, credit scores, and credit risk trends were headed. These include federal efforts to combat high inflation, a balanced housing market, the looming prospect of a recession in the U.S debt ceiling and its impacts and geopolitical risks.

Credit Risk 52

Credit Risk Risk Risk Assessment Assessments 52

The Fintech Times

JULY 30, 2024

By leveraging payment transaction data and providing loan underwriters with real-time credit data, Network International hopes to enable its SME merchants to access new sources of capital. The combination of our payments data with Biz2X’s digital underwriting prowess is a clear advantage to lenders and merchants alike.”

Underwriting 52

Underwriting Embedded Finance Risk Assessment Settlement 52

Fintech News

SEPTEMBER 4, 2024

With this fresh capital, Fluid plans to expand its product offerings, attract larger suppliers from diverse industries, and grow its risk and engineering teams to support its expansion. Jenfi uses a proprietary risk assessment engine that evaluates both a business’s creditworthiness and its marketing growth efficiency.

FinTech 112

FinTech Cross-Border Payment APIs and Integration Credit Cards 112

FICO

SEPTEMBER 18, 2020

For the second year running, FICO has been named as category leader in the recently published Chartis ‘Cyber Risk Quantification Solutions 2020: Market Update and Vendor Landscape’ report. As the report shows, the market for Cyber Risk Quantification Solutions (CRQ) continues to show rapid growth.

Risk 52

Risk Assessments Underwriting Cybersecurity 52

Nanonets

APRIL 11, 2023

The need to minimize risk and maintain loan portfolio quality : In a volatile economic environment, lenders must carefully manage risk to protect their loan portfolios and maintain financial stability. Manual compliance processes increase the risk of non-compliance and may result in costly fines or penalties.

Origination 52

Origination Automation Risk Assessment Underwriting 52

FICO

JULY 31, 2019

As TPRM or third-party risk management grows in importance, so does cybersecurity risk assessment as part of it. The latest Assessment of Business Cyber Risk (ABC) report from the US Chamber of Commerce and FICO discusses four steps for improving third-party cybersecurity risk management.

Risk 70

Risk Security Risk Assessment Risk Management 70

Finovate

SEPTEMBER 23, 2024

Offer autonomous roboadvisory with algorithmic trading Roboadvisors have been popular in fintech since 2015, but Agentic AI will make it possible for firms to autonomously manage investment portfolios by analyzing market trends, risk profiles, and financial goals.

AI 105

AI Assessments Compliance Automation 105

Fintech Labs Insights

OCTOBER 13, 2015

In the agreement, both companies will leverage the other’s unique security layer to combine email risk assessment with fraud scoring. Emailage, which debuted at FinovateSpring 2015 , offers a tool that assesses the risk associated with an email address. Feedzai made its European debut at FinovateEurope 2014.

Risk Assessment 26

Risk Assessment Assessments Risk Fraud Prevention 26

FICO

DECEMBER 2, 2019

Now it’s easier than ever to understand your company’s cyber risk. The latest release of the FICO® Cyber Risk Score is now available on AWS Marketplace, a digital catalog with thousands of software listings from independent software vendors. The FICO Cyber Risk Score is the first cyber rating available on the AWS Marketplace.

Risk 52

Risk Data Breach Breach Assessments 52

Tearsheet

AUGUST 7, 2024

Morgan’s financial strength and Slope’s innovative approach to credit risk assessment and monitoring. The fact that they not only use AI for initial underwriting, but also for the ongoing risk monitoring of the portfolio, is what really attracted us to Slope. The partnership brings together J.P.

AI 59

AI B2B Finance Underwriting 59

PYMNTS

AUGUST 28, 2017

In a press release , the company said the move was a result of a study with ZestFinance that measured the effectiveness of machine learning to better predict risk in auto financing and potentially expand auto financing for millennials and other Americans with limited credit histories. “At ƒFord Motor Credit Co.

Credit Risk 41

Credit Risk Assessments Risk Underwriting 41

Nanonets

SEPTEMBER 27, 2024

According to a recent study by Datos Insights , the insurance industry lags in terms of digitisation, with only 20% automation in underwriting and less than 3% automation in claims processing across sectors. Underwriting and claims processing are two key insurance processes that are still handled manually.

Process 52

Process Underwriting Automation Database 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. In addition, AI can help insurance firms evaluate risk with high accuracy by analyzing large volumes of data. Lastly, AI's predictive capabilities extend to risk management.

AI 102

AI Process Fraud Detection Compliance 102

FICO

JUNE 23, 2023

The updated model reflects the evolving credit landscape and credit behavior to help better inform a higher level of consumer credit risk prediction. The validation results for FICO Score 10 T demonstrate improved credit risk prediction for this segment of the population.

Credit Risk 52

Credit Risk Risk Assessment Assessments Risk 52

PYMNTS

APRIL 16, 2019

But it occurred to them that their solution was useful outside of HR — and that many of the things that made someone a good hire of over time could also make them a good credit risk over time, if the artificial intelligence (AI) model they were using to screen with were modified to that task.

Risk 89

Risk AI Underwriting Assessments 89

PYMNTS

JUNE 1, 2020

invoice insurance provider Nimbla is teaming up with the credit risk assessment firm Wiserfunding , according to a report in Crowdfund Insider on Friday (May 29). s SMEs if they combine the various innovations from the FinTech space, insurance and risk management sectors.”.

Risk Assessment 67

Risk Assessment Risk Management Underwriting Credit Risk 67

Nanonets

APRIL 5, 2023

In the world of lending, risk management is crucial to success. But with a growing number of loan applications and an increasing number of delinquencies, how can lenders effectively manage risk without sacrificing efficiency? The answer lies in automating steps in the lending process.

Automation 52

Automation Process Risk Assessment Assessments 52

The Fintech Times

SEPTEMBER 24, 2024

Previously at Capital One and Amazon, Husaini will play a pivotal role in scaling Marqeta’s AI organisation to help increase purchasing power by reducing risk and improving consumer and commercial rewards, while also helping accelerate innovation. Sucden Financial has appointed Bruno Almeida as director of regulatory and financial risks.

FinTech 59

FinTech Payment APIs and Integration AI Risk 59

Nanonets

AUGUST 16, 2024

Artificial Intelligence (AI) AI is particularly brilliant at handling complex tasks like fraud detection, risk assessment, and claims adjudication. This also helps them prioritize claims that require detailed scrutiny, ensuring that high-risk claims are flagged early in the process. thus allowing for seamless verification.

Automation 52

Automation Process Fraud Detection Payment APIs and Integration 52

FICO

OCTOBER 10, 2022

A low FICO score for a consumer can have the perverse effect of preventing them from having access to a second chance through manual underwriting. And financial institutions use FICO® Scores to underwrite lending to millions of people so that they can achieve their financial goals like buying a first home or starting a business.

Consumer 52

Consumer Underwriting Credit Risk Risk Assessment 52

The Fintech Times

MARCH 28, 2024

Legacy players bring expertise and a long-term view, with a capacity to approach risk across different cycles. ” Filling a gap Mike Mcnerney, senior vice president of security, Resilience Startups thrive by addressing unmet needs, says Mike Mcnerney, senior vice president of security at cyber risk solution company Resilience.

Innovation 69

Innovation Consumer On-Demand Risk Assessment 69

PYMNTS

NOVEMBER 16, 2018

A press release issued this week said that BNB Bank, a community bank operating across the New York and Long Island metropolitan area, will integrate PayNet technology to enhance its underwriting process for small business loans.

Community Banks 53

Community Banks Small Business Risk Assessment Underwriting 53

Nanonets

APRIL 24, 2023

This facilitates verification of customer profiles, streamlining the onboarding process, approving loans and mortgages, assessing borrower risk, etc. Bank extraction software can be used to extract this information and use it for loan approvals and risk assessments.

Automation 52

Automation Assessments Fraud Detection Risk Assessment 52