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

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.

Underwriting

EBizCharge

NOVEMBER 12, 2024

Merchant underwriting is an essential component of the payment processing industry, ensuring the safety and security of electronic payments. This process is critical for payment processors, who must determine whether a business poses a high financial risk. What is merchant underwriting?

Underwriting

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

Fintech News

SEPTEMBER 4, 2024

In addition, Lista features a receipt scanner that converts paper receipts into digital records for seamless tracking, and a cash flow sync function that securely consolidates all accounts in one place. Jenfi uses a proprietary risk assessment engine that evaluates both a business’s creditworthiness and its marketing growth efficiency.

FinTech

PYMNTS

NOVEMBER 2, 2020

The release stated firms have more often been looking for data to validate their own internal counterparty and credit risk assessment. Firms can bolster risk management, loan and debt underwriting, portfolio optimization, supply chain risk management and investment idea generation, the release stated.

Credit Risk

PYMNTS

NOVEMBER 3, 2020

The release stated firms have more often been looking for data to validate their own internal counterparty and credit risk assessment. Firms can bolster risk management, loan and debt underwriting, portfolio optimization, supply chain risk management and investment idea generation, the release stated.

Credit Risk

The Payments Association

MAY 9, 2025

of the business population, they account for over 60% of employment and generate over 2.1 Large businesses take for granted access to merchant accounts, real-time settlements, and cross-border payments. Key components include: Instant account issuing : Digital-first account creation accelerates launch timelines.

Finance

Stax

JANUARY 8, 2024

Several US legislations (like the Patriot Act, anti money laundering laws , or FinCEN regulations) require PayFacs to know the identities of the business owner(s) they plan to facilitate payments for, during the underwriting stage. This requires sound underwriting policies and procedures. This means PayFacs always need to be vigilant.

Risk Management

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. TL;DR Payment facilitators remove the need for businesses to open merchant accounts of their own to accept payments. This makes it much easier and quicker for businesses to start accepting payments.

Risk Management

PYMNTS

NOVEMBER 15, 2018

. “I believe there will be a system of trust in the coming years that’s going to connect small and medium-sized businesses as well as accountants, their lenders, their banks, and maybe tax authorities,” he said. “It becomes a big deal when a business has a unique identity.”

B2B

Finovate

SEPTEMBER 23, 2024

Power f raud detection and risk management While GenAI can continuously monitor transactions to detect anomalies and identify fraudulent patterns, Agentic AI can instantly flag suspicious activities, alert relevant parties, and even block transactions. Also, as regulations change, it can adjust to rules without human intervention.

AI

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. “Now, small businesses are stepping in to get a piece of the pie.” A report published by the U.S.

Community Banks

PYMNTS

SEPTEMBER 18, 2018

Among workers, over 37 percent noted that they receive at least 40 percent of their income via gig work, accounting for some $1.4 Because as of today, the world of mortgage underwriting isn’t built for gig workers or the self-employed, thus making it challenging for those looking to dip in a toe. trillion of total U.S. The New Rules.

Underwriting

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. by Doug Clare.

Risk

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

Payment Savvy

APRIL 14, 2021

If any unusual activity is spotted, it is reported, and the merchant must ensure all card brand rules are being followed to not risk losing their processing account. Visa uses its Global Risk Standards to determine merchant risk level. Mastercard has a similar Business Risk Assessment.

Acquirers

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

JULY 25, 2019

To make that underwriting decision, she said, they look at more than 100 data points to evaluate the overall health of the businesses, with a focus on its growth trajectory. “We What Fundbox tends to hear from suppliers are tales of “drowning in accounts receivables” without the time, staffing power or funds to go chasing down payments.

Finance

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

Nanonets

APRIL 24, 2023

The use of bank extracts allows organizations to quickly and easily extract important information such as account details, transaction history, and financial status from a range of financial documents. These are official documents issued by a bank that provide detailed information on a customer's account transactions and balances.

Assessments

PYMNTS

APRIL 10, 2019

It’s why, when you open a bank account, you often have to bring a utility bill with you, because it pins down both where you live and how long you’ve lived there from a third-party source.”. The first, he noted, involves underwriters looking to establish credit information on applicants, particularly thin-file applicants.

Verification

M2P Fintech

JANUARY 21, 2025

Key Features Customizable Decision Engine : HyperVerges decision engine is tailored to align with specific business rules, ensuring more accurate and efficient underwriting. These capabilities accelerate underwriting, enhance risk management, and improve decision-making accuracy.

Origination

FICO

APRIL 28, 2023

announced that, as of April 2023, medical debt collection accounts under $500 have been removed from consumer credit reports. Credit Risk Assessment Trends For a couple of decades now, there has been a growth in the use of alternative data (i.e., First, the three main credit bureaus in the U.S.

Credit Risk

PYMNTS

MAY 2, 2018

According to IBM research’s Isaac Markus, the solution aims to provide borrowers with a credit score using machine learning algorithms to underwrite loans. Blockchain accounting platform PayPie is now in beta testing, according to Accounting Today reports.

Blockchain

FICO

JANUARY 10, 2017

The minimum criteria needed to produce the FICO Score aren’t arbitrary — they are the result of decades of research into risk assessment. These criteria are necessary because credit scores need to reflect a person’s true creditworthiness to a sufficient degree that lenders, regulators and consumers, themselves, can rely on them.

Research

M2P Fintech

NOVEMBER 7, 2024

Heres how they benefit from lending operations: Streamlined data flow: APIs allows smooth data exchange between credit bureaus, KYC systems, accounting software, and other platforms, reducing manual entry and errors. Faster decision-making : Automated data sharing speeds up credit checks, approvals, and underwriting processes.

Origination

PYMNTS

JULY 6, 2018

Many customers, he said, are clients of more than one FI as they use account, card and financing products from multiple providers. According to Leboeuf, Canada’s banks have an opportunity to embrace Open Banking, not as a regulatory requirement, but as a way to strengthen their market positions.

FinTech

M2P Fintech

JANUARY 28, 2025

Knight Fintech Knight Fintech is a comprehensive digital lending solution for banks, covering the entire loan lifecycle from origination and underwriting to servicing and collections. The loan management solution of Knight Fintech enhances process efficiency, automation, and scalability, all while ensuring affordability and security.

Payment APIs and Integration

PYMNTS

MARCH 13, 2018

According to Grab , central to the new joint venture is the ability for the company to gather and analyze alternative data points on consumer behavior, which can then be used to develop credit and risk assessments.

Consumer

Finovate

JUNE 21, 2024

Instead of traditional underwriting, the bank will review factors such as outstanding debt levels and the number of credit applications outstanding, as well as leverage Belvo’s open finance technology to secure income verification for applicants whose data is otherwise difficult to retrieve.

Financial Inclusion

Stax

NOVEMBER 27, 2023

Even if you’re not in the financial industry, you’ll need a payment processor or payment service provider (PSP) to start generating revenue, which means you’ll need to either have a proper risk management framework in place—or work with a PSP that has one. In the U.S.,

Due Diligence

The Fintech Times

MARCH 28, 2024

Our insurance sector partners and clients who have adopted satellite-based risk assessments see the clear benefits and have come back to ask for more. With our satellite-based monitoring and risk assessment technology we have swiftly created the capability to address this gap.

Innovation

M2P Fintech

MARCH 28, 2024

without requiring a traditional bank account or debit card. It seamlessly manages vital banking operations like customer accounts, deposits, loans, transactions, and other services. It’s essentially a risk assessment to determine the likelihood of the borrower repaying the debt according to the agreed terms.

FinTech

The Fintech Times

MARCH 31, 2024

“AI has been a game changer and excelled in analysing vast data sets, enabling accurate risk assessments, fraud detection, and streamlined claims processing. “Hence striking the right balance between automation and human expertise is crucial to enhance efficiency without compromising risks due to automated decisions.

Risk

PYMNTS

JUNE 18, 2018

Insurance is a complex world of many moving parts, including data collection, mathematical models and risk assessment. In some ways, the difficulties can increase when a company tries to do risk management in real time. You are left holding an invoice and you have a very big hole in your account,” he said.

Payment APIs and Integration

Nanonets

SEPTEMBER 18, 2024

  From multinational banks and big accounting firms to local insurance agencies and small healthcare providers, businesses of all sizes process hundreds and thousands of financial documents daily. Use cases of financial document automation Document automation in the realm of finance and accounting is used in many sectors.

Automation