Stax

DECEMBER 20, 2023

From there, your users must go through an application and underwriting process that determines their eligibility to accept payments. TL;DR Merchant underwriting is the risk level assessment process an acquiring bank carries out on every new merchant before they grant them a merchant account. What Is Merchant Underwriting?

Underwriting 88

Underwriting Process Payment APIs and Integration Enrollments 88

Finezza

MARCH 9, 2024

Merely evaluating income statements or […] The post How Is Alternative Data Revolutionising Credit Underwriting Software appeared first on Finezza Blog. Therefore, lenders need access to various data points to make data-driven decisions.

Underwriting 69

Underwriting Risk Posting 69

Payments Dive

OCTOBER 26, 2022

Count the card company among those that added to credit loss provisions in the third quarter as economic conditions soured.

Underwriting 88

Underwriting 88

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. The post 91 companies digitizing and accelerating the loan underwriting process appeared first on CB Insights Research. Fraud is also a concern. Want the full expert post?

Underwriting 70

Underwriting Process Risk Management Risk 70

EBizCharge

NOVEMBER 12, 2024

Merchant underwriting is an essential component of the payment processing industry, ensuring the safety and security of electronic payments. This article will explore the mechanics of merchant underwriting, from the essential steps involved in the process to the factors influencing it. What is merchant underwriting?

Underwriting 52

Underwriting ISOs Risk Assessment Assessments 52

Nanonets

SEPTEMBER 27, 2024

Traditional (manual) underwriting processes often struggle to keep pace with the growing complexity of modern risk assessment, data collection, and policy management. Underwriting automation can help alleviate these issues to a great extent. Here are specific underwriting processes that can benefit from automation: 1.

Underwriting 52

Underwriting Automation Risk Assessment Assessments 52

Finezza

JULY 24, 2024

Despite their valuable contribution, access to credit remains one of the major barriers for MSMEs, particularly unorganised MSMEs due to lack […] The post How Is Alternative Credit Data Transforming Credit Underwriting? appeared first on Finezza Blog.

Underwriting 59

Underwriting Accounts Posting Product 59

Payments Dive

OCTOBER 12, 2023

The deal will enhance NMI’s underwriting capabilities and allow ISVs and fintechs to create merchant accounts within the company’s existing platform, NMI said.

ISVS 174

ISVS Acquirers Underwriting Accounts 174

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

OCTOBER 9, 2024

Experian UK&I today announces a new AI-powered data solution ‘Hazard Tags’ which will help transform underwriting processes in the commercial insurance sector.

Underwriting 52

Underwriting AI Process 52

Finezza

APRIL 23, 2024

Factoring […] The post Mitigating Risk in Debt Factoring: Underwriting Best Practices appeared first on Finezza Blog. However, factoring could be an excellent solution for companies to try to cash in on their account receivables, control cash flow, and keep the business afloat.

Best Practices 52

Best Practices Underwriting Mitigation Risk 52

Finextra

SEPTEMBER 10, 2024

(“MoneyLion”) (NYSE: ML), a digital ecosystem for consumer finance that empowers everyone to make their best financial decisions, today announced a partnership with Nova Credit, a leading credit infrastructure and analytics company, to activate cash flow underwriting within MoneyLion’s hosted decisioning engine.

Underwriting 52

Underwriting Finance Consumer 52

PYMNTS

NOVEMBER 10, 2020

The fact is, they had a belief that by deploying machine-learning underwriting that they’d be able to create a more durable lending system that could weather the storm.”. The time for machine-learning underwriting is now, especially with the uncertainty of COVID and the uncertainty of next year's economic environment.”.

AI 138

AI Underwriting Credit Risk Credit Union 138

The Paypers

OCTOBER 8, 2024

Plaid has announced its partnership with MoneyLion in order to introduce Layer and Consumer Report and provide lenders with access to cash flow underwriting insights.

Underwriting 41

Underwriting Consumer 41

TechCrunch Fintech

JANUARY 11, 2024

Developers add Pier’s APIs with a few lines of codes, and the company then manages the credit lifecycle from end-to-end, including origination, underwriting, compliance and servicing. © 2023 TechCrunch. All rights reserved. For personal use only.

Underwriting 114

Underwriting Origination API Compliance 114

PYMNTS

DECEMBER 22, 2020

The addition of a lower-cost, underwriter-free IPO option was formally approved by the U.S. The change comes at the end of a record-busy IPO year — and one with heightened attention to initial stock offerings that were conducted without traditional underwriters. Securities and Exchange Commission (SEC) Tuesday (Dec. 22), FT reported.

Underwriting 114

Underwriting Rules Blocks Innovation 114

Fintech Finance

SEPTEMBER 6, 2024

Christensen will lead the company’s global acquiring and risk management teams, working to grow and manage relationships with processors and banks, as well as overseeing the underwriting and risk functions. He brings 20 years of experience in financial risk, electronic payments and credit cards to the role.

Risk 100

Risk Acquirers Risk Management Underwriting 100

PYMNTS

DECEMBER 27, 2020

Securities and Exchange Commission approved a plan by the New York Stock Exchange to approve “direct” listings by companies, which let companies come to market without the underwriters (typically) large banks that charge hefty fees to bring the deals to the Street and reach institutional and retail investors.

Underwriting 108

Underwriting Legal Facilitators Research 108

PYMNTS

OCTOBER 19, 2020

So said that in a traditional screening process, SMEs “would send PDFs of bank statements or PDFs or their audited or unaudited financials, and banks [would] take weeks to underwrite. And the cost of underwriting a large borrower vs. a small SME was virtually the same.”. Information Asymmetry.

AI 120

AI B2B Underwriting Non-Bank 120

Payments Source

NOVEMBER 25, 2020

hired underwriters for a planned 2021 initial public offering, according to people with knowledge of the matter. Marqeta, a payments startup backed by Goldman Sachs Group Inc. and Visa Inc.,

Underwriting 104

Underwriting Payments FinTech 104

PYMNTS

SEPTEMBER 29, 2020

Many of the firms looking for trade finance may be shipping on a weekly, biweekly or monthly basis — and the underwriting process, which can take 30 to 60 days, may not offer the cash these smaller firms need to grow or lock up supply chain contracts. The platform model offers a process that is a streamlined one compared to the banks.

Finance 114

Finance Underwriting Volume Accounts 114

Fintech Finance

JULY 26, 2024

This will provide consumers with the potential opportunity to benefit from Visa’s acceptance, the simplicity and ease of Marqeta’s platform, and Affirm’s technology and underwriting capabilities in Buy Now, Pay Later. We’re proud to be the first issuer processor in the U.S.

Credential 97

Credential Processors Issuers BNPL 97

The Fintech Times

JANUARY 17, 2024

. “A key component of our AI suite is our GPT -based assistant, ‘TensorAssist,’ tailored for underwriters. With these tools, a single underwriter can now do the work that used to take five underwriters. With these tools, a single underwriter can now do the work that used to take five underwriters.

AI 128

AI FinTech Underwriting Due Diligence 128

PYMNTS

DECEMBER 16, 2020

Zhang and his co-founder, Ansel Parikh, had been developing Finch initially as a way to integrate consumer lending products within online marketplaces and other businesses, unlocking those firms' customer data to underwrite financing.

Payroll 116

Payroll Underwriting Use Case API 116

Payments Dive

FEBRUARY 28, 2023

The buy now, pay later company has cut costs by winding down operations in some markets, renegotiating prices with merchants and tightening underwriting.

Underwriting 88

Underwriting 88

Finezza

MARCH 25, 2024

However, existing systems cannot accurately underwrite MSME businesses due to their unique needs and lack of credit history. For instance, the estimated credit gap of INR 33 trillion in Micro, Small, and Medium Enterprises (MSMEs) presents an opportunity for lenders to service this sector more efficiently.

Underwriting 88

Underwriting Posting Origination 88

Bank Automation

AUGUST 20, 2024

Gather Federal Credit Union has selected credit underwriting platform Zest AI to reduce fraudulent activity during the loan origination and decisioning process.

Transactions 81

Transactions Credit Union Underwriting Procedures 81

Bank Automation

APRIL 17, 2024

We are maintaining our through-the-cycle underwriting discipline and seeing the benefits of our multiyear investments in [the] digital, technology and payments ecosystem in the form of strong fee growth across our business lines,” Chief Executive Andrew Cecere said […]

Underwriting 80

Underwriting Payments Technology 80

PYMNTS

DECEMBER 15, 2020

Because the industry is dominated by startups, a lack of historical business data makes underwriting a challenge. Everyone's a startup, and you can't really underwrite your customer and understand how much credit you should be giving them, what terms they need or what their limit it," Gordon explained.

Legal 111

Legal B2B Underwriting Payment Reconciliation 111

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

PYMNTS

DECEMBER 13, 2020

Legacy payment options, archaic systems, and traditional risk and credit underwriting models can be harmful, deceptive, and restrictive to both consumers and merchants.". Levchin was a co-founder of PayPal.

Point-of-Sale (POS) 134

Point-of-Sale (POS) BNPL Underwriting PayPal 134

PYMNTS

AUGUST 4, 2020

.” It’s also important to consider the external environment and current economic difficulties stemming from the pandemic, particularly when dealing with things like underwriting, net credit losses, and consumer behavior. How Players Act Now Will Influence Future Results .

Push-to-Card 138

Push-to-Card Financial Literacy Underwriting Risk 138

Payments Dive

AUGUST 29, 2023

With payments set to resume in October, the buy now, pay later provider is factoring consumers’ student loan balances into its underwriting decisions.

Underwriting 78

Underwriting Consumer Payments 78

CB Insights

NOVEMBER 3, 2022

Underwriting and claims automation. Why it matters: Insurers can use geospatial analytics to quickly and accurately underwrite policies and virtually assess claims for property insurance without needing in-person inspections. What’s next: Underwriting and claims teams have prioritized geospatial analytics in recent years.

Underwriting 95

Underwriting Risk Management Risk Product 95

CB Insights

MAY 23, 2023

using payroll provider data for pay-as-you-go workers comp), improve underwriting accuracy (e.g. For consumers, these products can provide faster, more convenient, and more accessible insurance options. For insurers, embedded insurance can enable more product personalization (e.g. reducing customer channels). Want the full expert post?

Underwriting 90

Underwriting Payroll Research Product 90

Finovate

MAY 13, 2024

From the massive volume of manual processes and the document-intensive nature of the business to the challenges of underwriting and refining statistical models, the idea that AI will be a powerful ally in the insurance business is a no-brainer. The insurance business is ripe for innovation. There are obstacles.

AI 119

AI Federal Reserve Underwriting Risk 119

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 80

Transactions Fraud Detection Risk Assessment Underwriting 80