Remove Addressing Remove Risk Assessment Remove Underwriting
article thumbnail

Merchant Underwriting: What It Is, How It Works, and Why It’s Important

Stax

The merchant underwriting process is a critical step that payment processors and financial institutions use to assess the risk associated with onboarding new businesses. Key steps include application review, risk assessment, credit checks, and compliance verification. What is the Purpose of Merchant Underwriting?

article thumbnail

AI Becomes the Banker: 21 Case Studies Transforming Digital Banking CX

Finextra

Traditional areas like fraud prevention (65%), credit underwriting (62%) and regulatory compliance (58%) are still heavily prioritized, reflecting that these were some of the first uses of AI in banking and continue to be critical for reducing losses. Banks had to address customer trust and security concerns around AI.

AI
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

From open banking to open finance and beyond: The future of financial data-sharing

The Payments Association

Open data, in turn, enriches these offerings, enabling innovative credit scoring and risk assessment beyond traditional banking channels. Open data extends beyond regulated financial data-sharing to non-banking datasets, such as telecom, utility, e-commerce, and social data, creating new layers of insight but also new risks.

article thumbnail

HUD studies BNPL housing risks

Payments Dive

Current FHA policies “largely exclude” BNPL loans from underwriting determinations, HUD said. These are some of the 22 questions in HUD’s solicitation: “What financial behaviors set frequent BNPL users apart from traditional credit users, and how can this guide FHA risk assessments?” “How You can unsubscribe at anytime.

article thumbnail

Insurtech’s Biggest Emerging Trends: AI, Cloud Architecture, CX and Modernisation

The Fintech Times

AI, automation, and embedded insurance are just some of the technologies driving change in everything from underwriting and claims to customer engagement, leading many industry firms and leaders to rethink their approach. “The increase in available data sources is transforming risk assessment capabilities.

AI
article thumbnail

Intersys Launches in India, Enabling Local Insurers and Brokers to Better Protect Clients

The Fintech Times

Led by Tanmay Gore , director of Intersys India, the Mumbai-based office is addressing a key challenge in the market: the difficulty of assessing and pricing cyber risk for organisations that often lack dedicated IT security resources.

article thumbnail

Trade Ledger Partners With Wiserfunding For Commercial Risk Assessments

PYMNTS

Inaccurate and slow credit risk assessment for [small- to medium-sized business (SMB)] commercial loan requests is one of the major reasons that over 50 [percent] of loans are currently declined by financial institutions (FIs),” said Roger Vincent, chief innovation officer at Trade Ledger.