Remove Assessments Remove Underserved Remove Underwriting
article thumbnail

How Insurers Leverage Fintech Solutions to Bridge the Digital Divide: Tapoly, FICO, SageSure, bolttech, Mylo, Planck

The Fintech Times

These innovative technologies not only enable insurers to streamline operations and enhance customer experiences but also play a pivotal role in extending financial services to underserved communities. “These solutions enhance accessibility by providing digital insurance options tailored to the needs of underserved communities.

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.

Insiders

Sign Up for our Newsletter

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

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. By combining payment flows with broader financial datasuch as rental history, savings patterns, and income variabilitylenders can offer dynamic, real-time credit assessments.

Finance 88
article thumbnail

Insurtech Outlook: How Can Insurance Firms Best Prepare for the Future?

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. “For technology preparation, firms should prioritise business problems and efficiency gains. .”

article thumbnail

The infrastructure of trust: building AI foundations for inclusive, explainable finance

Finextra

For financial services, especially those addressing underserved markets, the stakes are even higher. AdviceRobo has pioneered the use of psychometric data, behavioral analytics, and alternative data to assess risk far beyond FICO scores. The ambition? To AI-ify credit and democratize access to credit for the 1.7

AI 52
article thumbnail

Home Credit China Cuts Risk by 25 Percent on Thin File Loans

FICO

The introduction of the score has enabled Home Credit to underwrite and evaluate new clients with a thin file more objectively. This has been a big focus for the business in response to strong market demand for consumer loans in China. For its achievement, Home Credit was awarded the 2019 FICO® Decisions Award for Financial Inclusion. “By

Risk 97
article thumbnail

Future of Loan Management Systems: Predictions for the Next Decade, 2025-2035

M2P Fintech

This includes employing machine learning algorithms to automate parts of the loan application and underwriting process, as well as using digital platforms to facilitate communication between borrowers, lenders, and other relevant parties. “One-click” loans become reality through instant credit assessments.