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Dave posts first quarterly profit since 2016 inception

Bank Automation

For the first time since it was founded in 2016, digital bank Dave posted a profitable quarter. Dave reported fourth-quarter adjusted EBIDTA of $10 million compared to a loss of $13 million in Q4 2022, according to the bank’s earnings release today.

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Capitalise Teams Up with Plaid

Finovate

Capitalise made its Finovate debut at FinovateEurope 2016. “Open Banking sits at the core of SME credit decisioning and brings confidence to underwriting risk assessments,” Capitalise Co-Founder Ollie Maitland said. Capitalise made its Finovate debut at FinovateEurope 2016. Plaid has been a Finovate alum since 2014.

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Earnix Teams Up with Tokio Marine North America Services

Finovate

Earnix made its Finovate debut at FinovateSpring 2016 in San Jose, California. ” Founded in 2001 and maintaining headquarters in both Tel Aviv, Israel, and Westport, Connecticut, Earnix made its Finovate debut at FinovateSpring 2016 in San Jose, California.

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Former Grab Exec Mehrotra Leads JULO to Profitability, Eyes IPO Plans

Fintech News

JULO’s credit underwriting process, which uses comprehensive behavioral data, has enabled the successful launch of virtual credit card products designed for the middle-income demographic in Indonesia. Supported by AC Ventures, Credit Saison, Quona Capital, and Saratoga, JULO aims to make financial services more accessible in Indonesia.

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Payday Lending’s Long, Strange Trip Through 2016

PYMNTS

Arguments about payday loans have a habit of quickly devolving from polarized to outright acrimonious pretty quickly — and 2016 has seen that habit get very, very ingrained. Luckily, we have a handy roadmap right here — the PYMNTS PayDay Loan Chronicle 2016. Spoiler: The situation is more complicated than you’ve heard.

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The infrastructure of trust: building AI foundations for inclusive, explainable finance

Finextra

Toward inclusive finance at scale The next chapter for AdviceRobo lies not in building bigger models, but smarter infrastructure —systems that: Are multi-lingual and culturally contextual , Run efficiently even in data-constrained environments, And prioritize inclusion, from UX to underwriting. The ambition?

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Sub-Prime Lending’s Late-Year Bounce

PYMNTS

This reverses the previous year’s trend, between 2016 and 2017, when sub-prime loan originations across categories fell by 7.1 Matt Komos, vice president of financial services at TransUnion , said this indicates a growing risk tolerance among lenders across underwriting categories. “In 30 was the biggest jump since 2016.