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. PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks.

Risk Management

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

FICO

OCTOBER 27, 2016

With its quantitative, empirically derived analytics, FICO ESS will drive objective risk measurement, transparency and predictability into both breach insurance underwriting and longer-term portfolio management––essential requirements in monetizing the rapidly evolving market for cyber breach insurance.

Risk

The Fintech Times

SEPTEMBER 11, 2024

MoneyLion has teamed up with Nova Credit to integrate cash flow underwriting into its decisioning engine, enabling credit issuers on its platform to access more comprehensive data for evaluating consumers’ financial health. The integration of cash flow data could help expand credit access while maintaining risk management practices.

Underwriting

Fintech Review

JUNE 12, 2024

IoT devices, such as smart home sensors and connected cars, provide real-time data that insurers can use for risk assessment and mitigation. Real-Time Monitoring and Prevention IoT devices enable real-time monitoring of insured assets, allowing for proactive risk management.

Risk Assessment

PYMNTS

SEPTEMBER 22, 2016

In a press release , the company said that it removed a barrier for acquirers and ISOs by simplifying the option to add ACH and Remote Deposit Capture for new and existing card merchants. Merchants register online via risk management-enabled forms that confirm the approval criteria to streamline onboarding, the company noted.

Automation

Stax

FEBRUARY 15, 2024

It involves a complex ecosystem of financial institutions, including acquiring banks, payment processors, and card networks, alongside technology providers and regulatory bodies. PayFacs also provide a streamlined onboarding experience, manage underwriting, and handle compliance for its sub-merchants.

ISVS

FICO

SEPTEMBER 13, 2021

Consumer habits have shifted to online shopping for goods and services and the impact for merchant acquirers is the need for faster onboarding of new merchants and effective ongoing monitoring to minimise fraud and compliance risk. Automate as much of the underwriting process as possible. Gather actionable and objective data.

Risk

FICO

DECEMBER 8, 2022

If we think of a lending portfolio as an exclusive night club, its underwriting policy acts as the doorperson, checking IDs and making sure anyone trying to enter meets minimum acceptance criteria. Traditional underwriting risk management strategy approach in stressed versus unstressed economy. Senior Director, Scores.

Addressing

Fintech News

MAY 28, 2024

The company’s competitive advantage lies in its ability to leverage data, proprietary machine learning algorithms, and agile cloud infrastructure to make better credit and underwriting decisions than traditional banks. The meteoric rise of Nubank in Latin America offers valuable lessons for digital banks in the APAC region.

APACS

Exact Payments

OCTOBER 30, 2023

Acquiring banks Acquiring banks, also known as acquirers, are banks that process payments on behalf of merchants. They essentially operate as intermediaries between acquiring banks and merchants, onboarding merchants with processing accounts and providing additional core processing services and technology.

Facilitators

PYMNTS

JANUARY 11, 2018

Although the news about LendingPoint ’s decision to formally acquire Loan Hero is made public today for the very first time, the conversation between the two firms about how they could best combine their efforts has been ongoing for the last two years, according to CEO Tom Burnside. Breaking New Ground. .

Consumer

Fintech News

FEBRUARY 27, 2024

Furthermore, Nanu disclosed to Bloomberg plans for Nium to acquire two to three payments startups over the next year, targeting regions such as Africa, the Middle East, and Latin America. No one can time the market, but the focus for us over the next 18 months is to be fully prepared,” Nanu remarked at the time.

FinTech

PYMNTS

MARCH 11, 2020

Connor noted that historically, acquiring was centered around indirect sales channels, through independent sales organizations (ISOs) or merchant service providers (MSPs). Connor noted that alongside the consolidation at the traditional acquiring level, there has also been consolidation across the SaaS landscape.

Payment APIs and Integration

PYMNTS

JULY 13, 2017

­­­­­­­­­ Once upon a time, merchants had direct contractual agreements with the acquirers who signed them up to accept payments. To expand and scale the business, acquirers realized that they needed more feet on the street and invited a middle man to the party — the ISO. ISOs are hard-pressed to deliver that. Choose Your Own Destiny.

ISOs

PYMNTS

MARCH 7, 2018

LendingPoint Merchant Solutions combines LoanHero’s merchant onboarding, program management and reporting technology with LendingPoint’s credit underwriting, risk management and customer service expertise. The move comes after the company acquired LoanHero in Dec.

Finance

PYMNTS

APRIL 16, 2020

That firm recently secured funding from Visa, which is also in the process of acquiring Plaid as part of its own wide-ranging open banking initiatives. Catch up on the most recent efforts to unlock, share and integrate bank data below. Currencycloud, Derivative Path Team for Bank FX Solutions.

Finance

PYMNTS

OCTOBER 29, 2018

On the front end, the bank or business gets to offer its customer the set of services most appropriate to acquire and keep them. On the back end, Pintec leverages its artificial intelligence (AI) and deep learning technology against risk management, underwriting and other back-end challenges associated with the services. “We

Posting

Exact Payments

AUGUST 13, 2023

Payfacs partner with card networks and an acquiring bank to provide systems to onboard merchants, manage risk and adhere to compliance guidelines—among many other responsibilities. These entities register for a master merchant account and seek to act as payment aggregators for a collection of sub-merchants.

Facilitators

Fintech Labs Insights

JUNE 18, 2015

Compliance & risk-management technology. Mobile personal finance manager . Tags: Risk management, security, regulation, compliance. Source: Crunchbase. LendInvest. P2P mortgage lending. HQ: London, England, UK. Latest round: $34.2 million Series A. Total raised: $34.2 Source: FT Partners. Payment processor.

Underwriting

Exact Payments

NOVEMBER 8, 2023

Unlike traditional merchant service providers that resell payment processing, PayFacs own processing accounts and underwrite and onboard sub-merchants under their accounts. What makes PayFacs unique as compared to other MSPs is that they own a merchant payment processing account directly with an acquiring bank.

Facilitators

The Fintech Times

SEPTEMBER 24, 2024

Specialist analytics and risk management consultancy 4most has expanded its senior team by appointing Philippa Milner-Jones as a client partner in the London office. CEO Marc Bailey highlighted Almeida’s expertise as crucial for the firm’s growth and risk management.

FinTech

Nanonets

APRIL 5, 2023

In the world of lending, risk management is crucial to success. But with a growing number of loan applications and an increasing number of delinquencies, how can lenders effectively manage risk without sacrificing efficiency? The answer lies in automating steps in the lending process.

Automation

Stax

JANUARY 17, 2024

All this without having to invest time and resources in partnering with an acquiring bank or building an elaborate payment infrastructure. After this, it usually takes about 3-5 days to get approvals post the underwriting process. Acquiring new customers can be quite costly as compared to keeping existing ones.

ACH

Stax

JANUARY 10, 2024

In addition to generating revenue for the card network, the purpose of credit card transaction fees is to cover operational costs and risk management. Interchange fees An interchange fee is paid by the merchant’s acquiring bank to the issuing bank every time a credit card transaction is made. 2% of the total transaction value.

Credit Cards

Fintech Labs Insights

JULY 23, 2015

Fortress Risk Management. Enterprise risk management services for financial institutions. Risk & compliance management for financial institutions. Argos Risk. Credit risk management tools for small businesses. Tags: SMB, accounts receivables, trade finance, underwriting.

FinTech

Fintech Labs Insights

MAY 15, 2015

Tags: Payments, mobile, acquiring, SMB.

Online and Mobile Banking

CB Insights

JANUARY 4, 2018

Travelers: “There’s an increasing awareness and consciousness in the mind of the risk manager (of cyber risk) and whether that’s a job description for somebody in a big company or proprietor in a small business. A breakdown of the four by funding and investors is below: Guidewire acquires Cyence.

Underwriting

Fintech Labs Insights

JULY 17, 2015

Independent source of consensus credit risk. Tags: Payments, mobile, mPOS, merchants, acquiring, cards, SMB. Source: Finovate. Merchant-issuer collaboration software. HQ: Toronto, Ontario, Canada. Latest round: $45 million. Total raised: $45 million. Source: FT Partners. RealtyMogul. Marketplace lender for real estate projects.

FinTech

EBizCharge

MAY 8, 2024

A PayFac takes the burden of managing the complex aspects of payment processing, such as PCI compliance standards , risk management, and handling various payment methods like credit and debit cards, online payments, and mobile payments. Payment processors offer standardized services that are more rigid and less customizable.

Facilitators

Fintech Labs Insights

SEPTEMBER 19, 2016

Alt-credit score & risk management for financial institutions in emerging markets. Tags: Institutions, metrics, analytics, information, BI, underwriting, risk management. HQ: Palm Beach Gardens, Florida. Source: Finovate. POS solutions provider. Latest round: $45.1 million Series B. Total raised: $60.9

Underwriting

Fintech Labs Insights

OCTOBER 19, 2015

Alternative loan underwriting models. Tags: Enterprise, underwriting, credit, lending, analytics, API, Life.SREDA (investor). Source: TechCrunch. Alt-lender to small businesses. HQ: Atlanta, Georgia. Latest round: $135 million at $1 billion valuation. Total raised: $600 million. Source: Finovate. HQ: Palo Alto, California.

Underwriting

Exact Payments

SEPTEMBER 25, 2023

If you choose to build a full PayFac infrastructure, you’ll need to staff in-house customer support, development, and risk management teams. Preventing fraud and risk concerns requires a multi-layered approach, consisting of various procedural systems and technologies. Do I have enough internal resources to operate as a PayFac?

PCI DSS

Fintech Labs Insights

SEPTEMBER 21, 2015

Risk management for P2P lending. Tags: Consumer, advisors, investing, trading, wealth management. Source: Crunchbase. LightSpeed. Point of sale system. HQ: Montreal, Canada. Latest round: $61 million. Total raised: $126 million. Real estate marketplace. HQ: New York City. Latest round: $50 million. Total raised: $123 million.

Online and Mobile Banking

PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements.

P2P

EBizCharge

JUNE 6, 2025

Start by looking for a gateway that specializes in high-risk industries, particularly firearms and ammunition. These providers are more likely to have established relationships with acquiring banks that accept gun-related transactions and understand the regulatory landscape you operate in.

Payment Gateways

CB Insights

APRIL 8, 2018

Of course, it’s unclear how many of the startups will eventually succeed — flight insurance partner Blink , for example, was acquired for an initial €1M a few months after announcing its partnership. In some cases, these startups also announced they would look to craft customized insurance products with Munich Re.

Risk Assessment