PYMNTS

JULY 31, 2019

In order to lower those rates, MO Instant Cash has nixed any reliance on borrowers to provide paperwork and documentation like bank statements and Social Security numbers, instead deploying technology offered by Plaid, a FinTech that enables end-customers to connect their financial services apps and products with their bank accounts.

Federal Trade Commission

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

JUNE 17, 2020

Gianluca Pizzituti , CEO and co-founder of invoice financing platform Velotrade , told PYMNTS about the risks financiers must mitigate in the trade finance arena, the role of data in mitigating those threats, and the evolving role of invoice finance to help B2B companies endure the most volatile market many have seen in years.

Finance

PYMNTS

SEPTEMBER 7, 2018

When the company first launched, it began by working with factoring companies, helping them underwrite financing based on projected income from borrowers’ accounts receivable data. million.

Finance

PYMNTS

JULY 23, 2019

According to the publication, citing reports from Beijing media group Caixin Media, banks will be required to obtain primary, original documentation from the corporate borrower and its trading partner to stronger finance underwriting. A similar dispute has also risen stemming from accounts receivable from Suning as well.

Finance

PYMNTS

AUGUST 1, 2017

DueCourse also developed its own risk mitigation technology to use data found within SMEs’ cloud-based accounting platforms to underwrite loans. The debt financing, reports said at the time, reflected the company’s business model as a direct lender of invoice financing, instead of a third-party intermediary.

Risk Mitigation

PYMNTS

APRIL 8, 2016

It also signals a different kind of consolidation in the alternative finance sector, with different FinTech companies joining up to enhance the sophistication of technology behind lending and credit underwriting. But the accessibility of cloud accounting software — and software for small businesses in general — is going to help them catch up.”

Underwriting

PYMNTS

JULY 11, 2017

Indeed, banks must tread carefully in the world of trade finance, and with such little room for error and financial losses, risk management is critical. In many ways, collaboration with FinTechs has become a key part of risk mitigation for banks, with researchers finding that only 1.4

Finance

PYMNTS

SEPTEMBER 12, 2018

As the industry grows, access to small business financial data is a critical component of risk mitigation and underwriting practices. Working with a bank like BTG is another spoke in the wheel of small business financing, but one that similarly addresses risk mitigation in the market.

Finance

PYMNTS

OCTOBER 3, 2019

In response, FIs are prioritizing credit assessment, underwriting and borrower verification processes, and finding that technology can be instrumental in bolstering their fraud mitigation strategies. Identity spoofing, meanwhile, has increased 20 percent.

Small Business

M2P Fintech

NOVEMBER 7, 2024

Regulatory Compliance: Helps lenders stay compliant with regulations such as GDPR, PCI DSS, and other financial industry standards, reducing the risk of legal penalties. Risk Mitigation: Strong security protocols help prevent unauthorized access, data leaks, and potential fraud, protecting the institutions reputation and customer trust.

Origination

PYMNTS

MARCH 25, 2020

Designed for firms with between two and 200 employees, the card program underwrites SMBs through Archa’s proprietary machine learning-powered risk analysis technology. Payhawk is able to operate in unison with businesses’ existing bank accounts, however, thanks to Europe’s PSD2 and open banking regulations.

Commercial Card

PYMNTS

DECEMBER 17, 2019

They can adopt technology to automate various aspects of checks, from printing to generation to submission and, on the accounts receivable side, processing and reconciliation. If I become an ACH originator, and I don’t use a third party, I control the application, the underwriting; I can on-board people faster.

ACH

PYMNTS

MAY 10, 2018

Simultaneously, the report noted, a spike in bad corporate loans is also signaling to FIs that they need to improve their digital offerings with cost savings benefits, risk mitigation and other advantages that can strengthen their financial standings. ” Banks Need to Multitask.

SWIFT

FICO

AUGUST 16, 2019

However, even as the two groups have distinctly different functions at most financial institutions, both touch almost every point of the customer lifecycle — from marketing to origination, to management, to account closure — including collections and recovery. In credit risk, underwriting and account origination are tied to application fraud.

Credit Risk

PYMNTS

JUNE 23, 2016

The first, and perhaps obvious, one is for insurance underwriters. “They don’t have the tools for risk-based pricing,” he said of cyberbreach insurance providers. ” “There’s a need for quantitative tools, kind of like what banks use to assess consumers in underwriting a loan.

Cybersecurity

PYMNTS

NOVEMBER 22, 2019

With a focus on integration with payment and accounting platforms, the startup said it will also continue to connect with a broader array of data sources to bolster small to medium-sized business (SMB) loan underwriting for its partners, which include banks and other lenders. leading the investment. The Access Group , a U.K.-based

B2B

EBizCharge

JUNE 6, 2025

In this article, you’ll learn what high-risk merchant accounts for the firearms industry entail, the common challenges GunBroker users face, and why EBizCharge is the most optimal payment gateway for these users. What is a high-risk merchant account? That’s where a high-risk merchant account comes in.

Payment Gateways

Nanonets

AUGUST 16, 2024

Risk mitigation and fraud prevention Fraud detection technologies have been instrumental in reducing the $40 billion annual cost of fraudulent claims in the U.S. alone​   Advanced automation tools incorporate features for fraud detection by ML algorithms that detect and flag suspicious patterns in claims.

Automation

PYMNTS

FEBRUARY 11, 2020

And as financial regulations expand to combat financial crime, many financiers have found trade finance is simply too expensive to underwrite as a result, leading to either higher costs for global traders or banks pulling back from trade finance altogether. ”

Finance

PYMNTS

MARCH 10, 2016

Early Warning , a real-time payments, authentication and risk mitigation solutions provider, announced Wednesday (March 9) that Bank of America is now live in processing real-time P2P transactions through Early Warning’s clearXchange network. Early Warning Boosts Big Banks’ P2P Power. Apple Pay Drives Up Gas Station Acceptance.

Online and Mobile Banking

CB Insights

JULY 23, 2020

For example, in 2018, 23andMe entered a $300M deal to sell data to drug giant GlaxoSmithKline, while in 2019, MyHeritage experienced a data breach that exposed details from 92M+ accounts. But in recent years, companies have generally moved away from cubicles toward open floor plans. Source: Density.

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