Fintech News

MAY 28, 2024

By focusing on developing innovative solutions to serve the underbanked, such as mobile-first banking apps, low-cost accounts, and microfinance products, digital banks can not only drive social impact but also unlock significant growth opportunities.

APACS

PYMNTS

JULY 25, 2017

“The individual cards may be serviced by the local card issuer in that country or region, but we’re managing the overall program, doing a single contract throughout the world, underwriting the process, setting the credit limit and negotiating the pricing terms,” Rankin said.

Commercial Card

PYMNTS

FEBRUARY 20, 2020

Unless a business is at least five years old, its credit profile is likely quite thin, leaving banks to rely on personal guarantees to underwrite an account. “With the changes that have happened in underwriting and risk assessment, it’s just one of the things that should go.”

Commercial Card

PYMNTS

OCTOBER 21, 2019

The company recently announced it has joined five°degrees ’ Open Banking Marketplace, enabling Codat’s SMB clients to connect their accounting platforms with their bank accounts in what Codat Co-founder and Chief Operating Officer Alexander Cardona described as an “Open Accounting” framework, according to the company’s press release.

Small Business

FICO

JULY 10, 2017

The percentage of consumers scoring in the lowest score ranges — populated most frequently by consumers with high debt to credit limit ratios and numerous recent and significantly past due payments — continues to drop. The percentage of consumers with a new credit account opened in the past year dropped to 46.5%

Consumer

CB Insights

FEBRUARY 13, 2020

‘PayFac’ technology simplifies underwriting and onboarding. Typically, when a company wants to accept payments online, it has to set up a merchant account — a complex process involving legacy infrastructure and manual tasks that could take days or even weeks. TABLE OF CONTENTS. A decade of online payments innovation.

Online and Mobile Banking

PYMNTS

OCTOBER 24, 2019

The latest in commercial card innovation reflects that, with new solutions ranging from cards designed for small businesses with high travel spending to products designed with more flexible credit limits for cash-strapped startups. T&E Goes Virtual. Amex Embraces Open Banking.

Commercial Card

Wharton Fintech

OCTOBER 12, 2023

Inspiration for innovation at Finley: consumer credit and technology on the equity fundraising side Jeremy: We actually look to innovation that’s happening in the consumer credit space. Others are pretty skeptical; like a lot of other areas, financial services might be the laggard or late adopter when it comes to the newest tech.

Agreements

FICO

JANUARY 10, 2017

As a reminder, reliable credit scores can only be calculated from credit files with at least one open credit account for at least six months and that have had an update reported to the credit bureau in the last six months. A mortgage would be a big leap up the credit ladder. Delinquencies and collections.

Research

PYMNTS

NOVEMBER 5, 2018

On Thursday morning, news broke that the nation’s largest retailer is suing its longtime credit card issuer, alleging breach of contract. 1), Walmart alleges that Synchrony used underwriting standards that hurt Walmart financially, and is seeking damages of $800 million. Capital One and Discover Tap the Underwriting Brakes.

Credit Cards

PayHawk

APRIL 18, 2023

Authorization Hold The practice of holding funds from the cardholder’s account to ensure the availability of funds before the completion of a transaction. Automated Clearing House (ACH) An electronic network that enables the transfer of funds between bank accounts.

Process

CB Insights

DECEMBER 4, 2019

If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”. Both are key elements that non-bank-chartered tech firms in the US have been leveraging to launch banking services, like checking and savings accounts. Amazon has also made investments in improving kids’ access to the platform.

Online and Mobile Banking

PYMNTS

JUNE 25, 2018

.” Even if balances are paid in full each month, high utilization of credit lines can put downward pressure on personal credit scores, too. This issue also means that a personal credit card may not even have a high enough credit limit for a startup’s needs. ”

Credit Cards

Nanonets

MARCH 21, 2023

Business owners and credit professionals must consider multiple factors before extending payment terms to a new customer or increasing the credit limit of an existing customer. This includes integrating traditional credit data, with other non-traditional external data sources such as social media information.

Automation

The Fintech Times

OCTOBER 30, 2024

In other words, some people still find it harder to get credit because of who they are, not their suitability for credit. “All too often these gaps can be traced back to legacy underwriting processes which typically include some degree of person-led interpretation of criteria. “BaaS can enable credit building too.

Financial Inclusion

M2P Fintech

FEBRUARY 28, 2025

Customer App for Borrowers enhances user experience by providing easy account management, savings options, and a smooth re-KYC process for repeat loans. Seamless Dealer Payments: API-enabled direct disbursal to dealer accounts for efficient auto loan processing. Real-time analytics and automated reminders for better loan servicing.

Payment APIs and Integration

Fintech Labs Insights

OCTOBER 14, 2021

The Brex card’s unique feature is its high credit limit for startups. The startup underwrites the care, not with credit history, but with cash in the bank. High-limit (non-revolving) charge cards (based on bank account balance, not founder(s) personal credit history. Transaction/checking account.

FDIC

PYMNTS

APRIL 4, 2018

Instead of looking at the traditional credit score – which, he notes, is backward-looking and also a static, itemized list of what a customer has already done, rather a prediction of what they will do – Petal plugs into a consumer’s bank account and looks at their monthly cash flow. about their vision,” Gross noted.

Credit Cards

Fintech Labs Insights

MARCH 14, 2019

Underwriting : Brex’s key value prop, at least compared to bankcards, is vastly higher credit limits. Similar to American Express, the sky is the limit on the amount of credit extended. It has nothing to do with personal credit scores, and all to do with revenues, cash flow, and bank balances.

Underserved