The Fintech Times

MAY 5, 2024

Not only are Resilience’s clients more effective at avoiding loss, but they also are more proactive about assessing and mitigating that risk. ” The post Resilience Launches New Cyber Risk Tools to Empower Clients to Improve Their Risk Mitigation appeared first on The Fintech Times. .

Risk Mitigation 69

Risk Mitigation Mitigation Risk Ransomware 69

PYMNTS

JANUARY 25, 2019

Equipment finance company CapX Partners has announced an integration of Moody’s Analytics technology to strengthen its underwriting and risk mitigation capabilities. “Assessing the creditworthiness of small businesses in a cost-effective manner is one of a lender’s most challenging tasks,” he said.

Underwriting 43

Underwriting Small Business Risk Mitigation Underserved 43

Finovate

MARCH 13, 2024

This will impact how banks and fintechs use AI for customer interactions, underwriting, and fraud detection. Therefore, banks using AI systems must assess and reduce risks, maintain use logs, be transparent and accurate, and ensure human oversight.

AI 111

AI Laws Fraud Detection Use Case 111

Stax

JANUARY 8, 2024

Common risk management strategies for PayFacs include proper merchant vetting and onboarding, transaction monitoring and fraud prevention, chargeback mitigation, KYC/AML compliance, and data breach prevention. You should also have contingency plans or initiatives in place to mitigate the impact of a risk.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

PYMNTS

OCTOBER 7, 2016

.” Financial institutions today are also struggling to connect the dots between all of the ways they use data analytics to mitigate risk and add value to their lending operations, added Horrocks. He offered the example of banks using analysis of financial statements to assess risk in the loan origination process.

Origination 78

Origination Underwriting Third-Party Service Provider Risk Mitigation 78

Fintech Review

JUNE 12, 2024

We explore the innovations in personalised insurance products, the role of IoT devices in data collection and risk assessment, and the challenges faced by established insurance companies integrating new technologies. Enhanced Risk Assessment IoT data provides insurers with a more accurate understanding of risk profiles.

Risk Assessment 96

Risk Assessment Regulatory Compliance Assessments Risk Management 96

The Fintech Times

APRIL 15, 2024

“By analysing big data and rapidly assessing risks, AI empowers financial companies to make well-informed decisions. However, a significant revolution lies ahead – the personalisation of services based on individual user assessments. “Finally, AI is reducing risk in the embedded insurance space.

Embedded Finance 134

Embedded Finance AI Finance Assessments 134

Nanonets

DECEMBER 13, 2023

A survey by Accenture on underwriting employees found that up to 40% of underwriters’ time is spent on non-core and administrative activities. Risk Assessment and Compliance Prediction: AI can assist in proactively identifying potential compliance risks by analyzing historical data and patterns.

AI 102

AI Process Fraud Detection Compliance 102

Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. PayFacs also handle risk assessment, underwriting, settling of funds, compliance, and chargebacks. This makes it much easier and quicker for businesses to start accepting payments.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

The Fintech Times

JULY 31, 2024

“One of the most meaningful ways we protect our customers and their homes is to work with them to understand and mitigate risk,” said Rebecca L. ” With ZestyAI models, carriers are able to move from territory-based segmentation to a property-by-property risk assessment. Stolte , assistant vice president at Amica.

Risk 59

Risk AI Risk Assessment Assessments 59

PYMNTS

MARCH 20, 2020

But lenders themselves, even industry incumbents, are also quickly recognizing the potential that unlocking data has not only on improving the SMB borrowing experience, but on significantly improving their own internal operations, particularly when it comes to risk mitigation. ” The U.S.’s ’s Open Banking Path.

Risk Mitigation 93

Risk Mitigation Mitigation Payment APIs and Integration Risk 93

PYMNTS

JULY 3, 2018

But SMB loan underwriting at traditional FIs has, for the most part, remained unchanged, even as alternative lenders began exploring the role of alternative data in the risk mitigation process. The issue at hand, however, is that Facebook stats are hardly reliable to traditional lenders mitigating the risk of small business borrowers.

Underwriting 40

Underwriting Small Business Assessments Third-Party Service Provider 40

Fintech Finance

FEBRUARY 24, 2025

By leveraging data sources across 220 countries & territories, the collaboration will provide region-specific solutions and access to business-relevant data along with documents and risk assessment models to help FIs onboard clients, vendors and dealers digitally and securely.

AML 59

AML Underwriting Security Verification 59

PYMNTS

OCTOBER 21, 2019

Providing consumers with sufficient supports can address these potential obstacles and speed up loan underwriting timelines, benefiting both borrowers and lenders. Consumers must give approval to have these details sent, which helps lending FIs quickly assess potential borrowers and determine whether to offer loans.

Underwriting 41

Underwriting Consumer Due Diligence Assessments 41

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 68

Finance Mitigation B2B Underwriting 68

PYMNTS

NOVEMBER 18, 2019

Faster payment services could help such consumers get much-needed funds, as long as lenders can access equally fast underwriting tools. Underwriting tools boost the confidence of both borrowers and lenders, and help the latter more seamlessly access reliable bank data that supersedes credit scores. Taking the Friction out of Lending.

Underwriting 41

Underwriting Federal Reserve Payments Faster Payments 41

The Fintech Times

MARCH 29, 2024

From enhancing risk assessment accuracy to personalising products and services, insurers are leveraging data analytics to optimise decision-making processes, mitigate risks and cater to evolving consumer needs. “At Cowbell, we are actively assessing the cyber risk posture of over 39 million businesses in the US and the UK.

Risk Assessment 59

Risk Assessment Underwriting Assessments Risk 59

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. Mitigating controls. Infrastructure.

Risk 70

Risk Security Risk Assessment Risk Management 70

PYMNTS

APRIL 3, 2019

The cyber insurance market is an emerging sector, Sayata Labs CEO and Co-Founder Asaf Lifshitz explained in a recent interview with PYMNTS, and insurance providers are facing some tough hurdles in underwriting and risk mitigation. Rapid Expansion. Technology, Partnerships Address the Gaps. ”

Small Business 63

Small Business Underwriting Risk Cybersecurity 63

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.

Small Business 63

Small Business Credit Union Mitigation Account Takeovers 63

M2P Fintech

APRIL 4, 2025

The new-age credit stack can do this efficiently with smarter underwriting capabilities, integrated data collection mechanisms and ability to automate workflows in the process. Improved Risk Management To assess credit risk accurately, new-age credit stack incorporates advanced algorithms and real-time analytics.

Finance 52

Finance Payment APIs and Integration Credit Cards Risk 52

FICO

FEBRUARY 7, 2017

Cyber-readiness is increasingly a necessity for organizations, but for insurance underwriters, evaluating an organization’s cybersecurity risk and setting the appropriate insurance premium continues to be an inexact science.

Cybersecurity 51

Cybersecurity Risk Mitigation Mitigation Underwriting 51

PYMNTS

JANUARY 30, 2019

The PayNet tool uses the firm’s proprietary database to predict borrower risk, and will deploy Numerated’s custom rules-based and borrower segment-based credit decision-making capabilities to match lenders’ risk mitigation needs.

Risk 57

Risk Risk Mitigation Small Business Underwriting 57

The Fintech Times

JUNE 24, 2025

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. When exploring some of the biggest emerging trends in the insurtech industry, one recurring theme was AI.

AI 45

AI Risk Automation Regulatory Compliance 45

FICO

AUGUST 28, 2018

They were not sure how they could bake it into their underwriting process.”. Scoring Cyber Risk: No Standardized Underwriting Processes. I asked Josh about the difference between what Sasha had observed and how cyberinsurance underwriting is evolving at Aspen. That’s a sad but an important observation.”. he laughed. “We

Risk 53

Risk Security Underwriting Breach 53

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. By combining J.P.

AI 59

AI B2B Finance Underwriting 59

PYMNTS

OCTOBER 16, 2018

Land Gorilla links construction lenders with technology to manage that lending process, a space that involves complexities and requires lenders to assess and manage risk based on a deluge of factors. Many of these factors are key to not only underwriting a loan, but enabling a borrower to draw down on that financing.

Mitigation 64

Mitigation Payments Risk B2B 64

FICO

FEBRUARY 20, 2017

Cyber-readiness is increasingly a necessity for organizations, but for insurance underwriters, evaluating an organization’s cybersecurity risk and setting the appropriate insurance premium continues to be an inexact science.

Cybersecurity 40

Cybersecurity Risk Mitigation Mitigation Assessments 40

PYMNTS

JUNE 23, 2016

So far, enterprise security solutions focus on strengthening the detection and mitigation of potential breaches within a corporate IT system or involve businesses taking out insurance in the event of a data breach. “We’re looking to assess the entire security of the enterprise,” he said.

Cybersecurity 40

Cybersecurity Data Breach Assessments Breach 40

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. JD.com, Suning.com Spark Concerns. Noah, however, claims that it had verified all documentation with JD.com.

Finance 51

Finance Disputes Underwriting Verification 51

PYMNTS

JULY 5, 2018

Trade Ledger operates an open banking platform for banks to assess lending risk to their corporate customers in real time. Australia-based Trade Ledger is launching its open banking and lending platform for corporates in Europe, the company announced Tuesday (July 3). ” . ”

Assessments 40

Assessments Mitigation Small Business Risk 40

Global Fintech & Digital Assets

DECEMBER 21, 2023

Credit and Underwriting Risk Borrowers may not fully understand BNPL loan repayment obligations or may take on excess credit, and creditors may be disadvantaged by the lack of credit history or BNPL activity captured by credit reporting agencies. Some of the highlighted risks and risk management practices are as follows.

OCC 59

OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

FICO

JUNE 30, 2023

Note that this odds-to-score relationship peaked in the first years after the onset of the COVID-19 pandemic, when government stimulus, lender payment accommodation and other tactics aimed at mitigating the financial impacts of the pandemic on borrowers led to historically low default rates.

Underwriting 52

Underwriting Credit Risk Mitigation Risk 52

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. ” The SME Underwriting Legacy . ” “This frustrates the borrower, and this frustrates the lender,” he added.

Underwriting 40

Underwriting Small Business Mitigation Risk Mitigation 40

PYMNTS

APRIL 19, 2018

FICO’s flagship product, the FICO credit score, could be at risk from FinTech disruption as lenders look for other ways to mitigate risk and underwrite loans, using alternative data sources and artificial intelligence technology. Its dominance in the market is at risk as well.

Audit 40

Audit Assessments Underwriting Risk 40

Nanonets

APRIL 24, 2023

This facilitates verification of customer profiles, streamlining the onboarding process, approving loans and mortgages, assessing borrower risk, etc. Bank extraction software can be used to extract this information and use it for loan approvals and risk assessments.

Assessments 52

Assessments Automation Fraud Detection Risk Assessment 52

FICO

AUGUST 1, 2018

Mitigating risk by onboarding the best vendors. The acquirer has incorporated a broad array of new automated functions, for example, additional compliance features such as know your customer (KYC) and bank account (DDA) verification and wrapping into a highly innovative business model of underwriting as a service (UaaS).

Acquirers 58

Acquirers Underwriting Risk Mitigation 58