Stax

AUGUST 22, 2024

In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks.

Risk Management 88

Risk Management Risk Regulatory Compliance Payment APIs and Integration 88

Nanonets

APRIL 26, 2023

Automation can have a significant impact on this process—particularly the loan underwriting process. Loan underwriting is the step before a loan is approved or denied, where a lender verifies a potential borrower’s income, assets, debt and property details in order to issue final approval for the loan.

Underwriting 52

Underwriting Automation Fraud Detection AI 52

The Fintech Times

JUNE 20, 2024

European insurer, Allianz Trade , is collaborating with BPL , a specialist credit and political risk insurance (CPRI) broker, to improve how underwriters and brokers share enquiry data using Application Programming Interface (API) integration via the independent digital trading platform Whitespace , a Verisk subsidiary.

Underwriting 59

Underwriting Payment APIs and Integration Non-Bank API 59

Finextra

MARCH 19, 2024

Worth AI, a fintech SaaS startup, officially launched today and announced its artificial intelligence-powered risk management and underwriting technology.

Underwriting 52

Underwriting AI Risk Management Risk 52

CB Insights

MAY 17, 2023

Loan underwriting is a slow and complex process, due to insufficient data for credit scoring, stringent risk management requirements, and highly manual processes. This has cleared the way for new tech solutions that can effectively reduce costs and risk, while also improving speed. Fraud is also a concern.

Underwriting 70

Underwriting Process Risk Management Risk 70

Stax

JANUARY 8, 2024

However, several complex types of risks come along with this. As such, PayFacs need to equip themselves with an effective risk management strategy that helps them continuously monitor risks and employ appropriate risk responses if needed. Let’s get started.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

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. 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.

Underwriting 75

Underwriting Risk Assessment Risk Mitigation Mitigation 75

The Fintech Times

MAY 5, 2024

Resilience , the US-based cyber risk solution company, has introduced two new cyber risk tools to its cyber insurance package, in a move to help its clients reduce losses from cyberattacks. Not only are Resilience’s clients more effective at avoiding loss, but they also are more proactive about assessing and mitigating that risk.

Risk Mitigation 69

Risk Mitigation Mitigation Risk Ransomware 69

The Fintech Times

JULY 31, 2024

ZestyAI , a climate and property risk analytics solutions provider, is expanding its existing partnership with Amica Mutual Insurance , enabling the insurance firm to leverage ZestyAI’s full property and climate risk analytics platform. Stolte , assistant vice president at Amica. “Amica earned the top spot in the J.D.

Risk 59

Risk AI Risk Assessment Assessments 59

The Paypers

OCTOBER 2, 2024

US-based TreviPay has entered into a strategic collaboration with Allianz Trade to augment B2B risk management and underwriting solutions.

Risk Management 36

Risk Management B2B Risk Underwriting 36

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

FICO

DECEMBER 8, 2022

Addressing Portfolio Risk in Economic Uncertainty: Part 2 (2022). Building portfolio risk resilience into customer acquisition. If we think of a lending portfolio as an exclusive night club, its underwriting policy acts as the doorperson, checking IDs and making sure anyone trying to enter meets minimum acceptance criteria.

Addressing 52

Addressing Risk Underwriting Risk Management 52

Finovate

MAY 6, 2024

Via the partnership, Alloy customers will be able to access Coris’ solutions to automate SMB onboarding, underwriting, and fraud prevention. “We’re excited to partner with Coris on improving the SMB risk management process for builders of financial products,” Alloy GM of Partner Solutions Brian Bender said.

Automation 52

Automation Risk Underwriting Embedded Finance 52

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. Among banks that use AI, 92.9

Credit Risk 100

Credit Risk Risk AI Underwriting 100

PYMNTS

MARCH 10, 2020

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.

Underwriting 77

Underwriting Small Business Value Added Service Non-Bank 77

Lending Front

JUNE 15, 2021

But the reality is that–at the time–credit scores were simply the best thing an insurer could access in order to assess risk. Technology has evolved to provide real-time financial data to institutions, facilitating more accurate assessments of both creditworthiness and risk. There is a correlation , i.e,

Underwriting 52

Underwriting Small Business Federal Reserve Assessments 52

Bank Automation

SEPTEMBER 23, 2024

Auto lenders are incorporating artificial intelligence into their processes to improve customer service automation and credit decisioning while eyeing uses for underwriting.

AI 81

AI Underwriting Credit Risk Automation 81

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

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. Clients will also be able to use the data for an enterprise use case, the release stated.

Credit Risk 85

Credit Risk Risk Risk Management Assessments 85

The Fintech Times

MARCH 13, 2024

Lloyd’s , the insurance and reinsurance marketplace, has published a new report, revealing how the rapid evolution of generative artificial intelligence (AI) technology could impact the cyber risk landscape, requiring businesses to build greater resilience to these evolving threats. ” However, businesses cannot do this without support.

Risk Mitigation 59

Risk Mitigation Mitigation AI Risk 59

International Payments Processing

DECEMBER 29, 2021

We believe that all merchants in high risk industries deserve high-quality payment processing solutions to run and scale their businesses. Why High Risk Businesses Get Denied a Merchant Account? How Rapid Application Processing Helps You Get a High Risk Merchant Account Fast?

Risk 88

Risk Process Accounts Gateways 88

International Payments Processing

DECEMBER 29, 2021

We believe that all merchants in high risk industries deserve high-quality payment processing solutions to run and scale their businesses. Why High Risk Businesses Get Denied a Merchant Account? How Rapid Application Processing Helps You Get a High Risk Merchant Account Fast?

Risk 88

Risk Process Accounts Gateways 88

Finovate

FEBRUARY 6, 2024

Embedded finance platform Liberis announced a partnership with identity risk management innovator Alloy. Embedded finance platform Liberis has teamed up with identity risk management innovator Alloy. Alloy made its Finovate debut at our developers conference, FinDEVrSilicon Valley 2016.

Risk Management 59

Risk Management Risk Embedded Finance Compliance 59

PYMNTS

JULY 26, 2019

Lloyd’s syndicate Beat Syndicate 4242 is collaborating with trade finance solution provider Previse to underwrite those invoices financed by third parties so suppliers can get paid more quickly, according to a Thursday (July 25) press release. Beat Syndicate will underwrite pre-approval invoice payments for an unnamed large U.K.

Underwriting 40

Underwriting B2B Instant Payments Risk 40

The Paypers

AUGUST 11, 2020

The Electronic Transactions Association (ETA) has released the fourth edition of the ETA Guidelines on Merchant and ISO Underwriting and Risk Monitoring.

ISOs 31

ISOs Underwriting Risk Transactions 31

Finextra

OCTOBER 2, 2024

Backbase, the creator of the Engagement Banking Platform, announced today an integration with Middesk, a business identity platform designed to automate business verification and underwriting decisions to help banks and credit unions to mitigate risk and reduce fraud.

Verification 52

Verification Credit Union Underwriting Mitigation 52

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

PYMNTS

JANUARY 25, 2019

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.

Underwriting 43

Underwriting Small Business Risk Mitigation Underserved 43

FICO

APRIL 17, 2020

The FICO® Cyber Risk Score continues to experience significant momentum in the cyber insurance marketplace with strong growth, new clients, and exciting industry recognition. FICO has become the trusted name in cyber risk scoring in the insurance marketplace. To learn more about the FICO® Cyber Risk Score, visit [link].

Risk 52

Risk Continuity Underwriting Breach 52

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

The Fintech Times

FEBRUARY 28, 2024

The UK lending market for higher-risk individuals has contracted by around 34 per cent since 2019, as unsecured loans from unregulated lenders have risen significantly, according to a new whitepaper from ClearScore , the financial services marketplace.

Risk 59

Risk BNPL Non-Bank Regulations 59

FICO

OCTOBER 27, 2016

ESS can be used by an enterprise to understand its cyber risk and shore up defense gaps. The number of underwriters active in the US market is growing rapidly as well, with a double-digit CAGR. The need for objective risk measurement. The lingua franca of cyber breach underwriting .

Risk 97

Risk Underwriting Breach Risk Assessment 97

FICO

MAY 25, 2021

If we think of a lending portfolio as a night club, its underwriting policy acts as the doorperson, checking IDs and making sure anyone trying to enter meets documented criteria. FICO® Scores, often an important contributor to underwriting strategies, are designed to provide valuable risk rank-ordering through all economic cycles.

Risk 52

Risk Addressing Underwriting Economy 52

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

The Fintech Times

SEPTEMBER 11, 2024

MoneyLion has teamed up with Nova Credit to integrate cash flow underwriting into its decisioning engine, enabling credit issuers on its platform to access more comprehensive data for evaluating consumers’ financial health. The integration of cash flow data could help expand credit access while maintaining risk management practices.

Underwriting 59

Underwriting Risk Management Credit Risk Issuers 59

PYMNTS

MAY 9, 2018

The findings, contained in the company’s Q1 Senior Loan Officer Opinion Survey , show that there has been “a modest tightening” of bank underwriting standards across credit card and auto loan applications as measured in the first quarter of this year. Moody’s expects credit card underwriting to deteriorate.

Underwriting 40

Underwriting Credit Cards Economy Risk 40

PYMNTS

MAY 26, 2016

The same applies to risk teams in automating their underwriting processes. Key Elements of Automating Underwriting. This methodology allows for greater confidence in the risk model over time, whereas diving into full automation right away can waste money and time. Getting Started. Mapping Out the Current Process.

Underwriting 40

Underwriting Automation Agreements Risk 40