PYMNTS

JUNE 14, 2019

As Melissa McSherry, senior vice president and global head of credit and data products at Visa , told Karen Webster, the responsible use of AI that examines huge swathes of data (such as those housed in the payment giant’s own databases), “is a vital consideration for AI practitioners.”.

AI

Finovate

AUGUST 6, 2024

GenRPT GenRPT is an AI-driven insights and reporting platform that allows users to generate visual reports from databases in plain English, supporting SQL, Excel, PDF, CSV formats, and more. Gen Z and Millennial consumers (21 and above). Credit unions and community banks.

Credit Union

Stax

JANUARY 8, 2024

Several US legislations (like the Patriot Act, anti money laundering laws , or FinCEN regulations) require PayFacs to know the identities of the business owner(s) they plan to facilitate payments for, during the underwriting stage. This requires sound underwriting policies and procedures.

Risk Management

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. In a press release issued on Tuesday (Jan.

Risk

Tearsheet

AUGUST 7, 2024

Morgan’s fortress balance sheet and depth of client relationships with Slope’s strengths in underwriting and credit risk monitoring as well as platform flexibility, we are well-positioned to meet our clients’ needs in a rapidly evolving market. Morgan to this partnership, and how does it complement J.P. By combining J.P.

AI

Nanonets

JANUARY 17, 2024

Submitting an insurance claim is often tedious for customers and underwriters alike. The system will then validate the extracted data against predefined rules and databases. This could include checking policy details, confirming accident details with third-party databases, and verifying cost estimates.

AI

The Fintech Times

JANUARY 5, 2024

Graph databases’, which store complex data structures (most commonly used for social networks), and which are very powerful when combined with generative AI (GenAI), will come to the fore. “Breakthroughs in GenAI and transfer learning from top universities and big tech are driving the next wave of innovation around AI. .

AI

PYMNTS

MARCH 2, 2018

PIRS Capital recently launched its proprietary credit scoring technology via the PIRScore, a technology that uses machine learning to underwrite loans based on a slew of data points. “But there are other data points we would love to share, and put into a national database with all other lenders.”

Small Business

PYMNTS

MAY 16, 2018

Business intelligence company Creditsafe is enhancing its credit information database with a focus on business financial data, the company announced Tuesday (May 15). The information can be used by Creditsafe customers to enhance the underwriting process when they are making decisions to grant credit to their own customers. businesses.

Payments Data

FICO

MAY 7, 2018

we found that leveraging the Fair Credit Reporting Act (FCRA) compliant “alternative data”– data that resides outside of traditional credit files– could effectively address a large segment of the unscorable population, producing a reliable and accurate credit assessment for lenders to use in underwriting this credit underserved population.

Financial Inclusion

PYMNTS

JUNE 27, 2016

. “Their solution takes on outdated accounts receivable processes, automates it then underwrites the credit risk for the seller.” The company provides a database for companies to see how well other businesses are paying their invoices on time. Across the pond, U.K. startup Satago raised about $6.3

B2B

PYMNTS

FEBRUARY 27, 2020

Understanding the borrower means assessing the business’ ability to repay a loan, a key component to the underwriting process. It’s a more behavioral metric that is even less accessible for traditional FIs, and one that Mehrotra said can also be assessed via Grab’s database. The Data Of Repayment Habits.

Small Business

PYMNTS

MARCH 27, 2018

Mortgages have dominated the top spot since the database itself launched in 2012 — which is unsurprising given the CFPB was created following a crisis in mortgage underwriting. Of the approximately 240,000 complaints logged in the CFPB database in 2017, a full 30,000 were about Equifax. Debt collectors managed to lose their No.

CFPB

Nanonets

MAY 3, 2023

This has many niche challenges under it: credit ratings, loan applications, underwriting, stock buy and sell decisions, cash flow management, and more. Rebank Rebank is a finance and legal database for companies operating in multiple countries and currencies.

AI

FICO

NOVEMBER 30, 2022

In health insurance, abuse is also a relevant topic when correlating such extra data, and the ability to identify such cases saves millions, and that's what I saw, for example, in an insurer who provided us with their past database, already analyzed by them. Of course, all business in Insurance begins with the underwriting process.

Underwriting

Nanonets

AUGUST 16, 2024

Advanced AI systems can cross-check claim details against policy data, third-party databases, and historical claim records to detect anomalies and assess the validity of claims. Integrations: Automation pulls data from multiple sources, databases, third-party tools, etc., thus allowing for seamless verification.

Automation

Stax

NOVEMBER 27, 2023

If you’re starting the underwriting process and have no idea how to make sense of the complex world of KYC and all the terminology involved, you’re in the right place. From EDD and eKYC to AML to CDD, we’re going to cover everything you need to know about KYC in this article. This legal requirement was codified into U.S.

Due Diligence

Finovate

APRIL 9, 2024

Rove leverages a cash-flow algorithm for underwriting to offer a no-annual-fee travel card that allows average spenders to earn a free trip each year. GovernGPT is an AI-based database that pre-populates due diligence questionnaires with recent and trusted data.

FinTech

Nanonets

APRIL 24, 2023

Automate your mortgage processing, underwriting, fraud detection, bank reconciliations or accounting processes with a ready-to-use custom workflow. Automate your mortgage processing, underwriting, fraud detection, bank reconciliations or accounting processes with a ready-to-use custom workflow.

Fraud Detection

PYMNTS

JUNE 1, 2017

There are a lot of stories being written about how machines are taking people’s jobs, and our approach has often been lumped in with this, as some underwriters feel threatened that predictive analytics are meant to be their replacement. Another way we’ve overcome the challenge is by getting underwriters involved early in the process.

Underwriting

PYMNTS

MARCH 24, 2020

“Data engineering is critical to the future of our eCommerce product, as Brex seeks to ensure that we have 10x data advantages for all of the customers we underwrite,” offered Miguel Rios-Berrios, director of engineering, data, at Brex.

Product

PYMNTS

APRIL 23, 2020

Wielding its database of SMB information, the portal eases identification and underwriting for PPP lenders to accelerating funding. SMB credit analytics firm Paynet announced the launch of PayNet P3 Data Pack , a platform that helps lenders streamline PPP loans to SMBs by automating the borrower verification process.

FinTech

PYMNTS

APRIL 22, 2019

Other top factors behind rejections include an applicant’s poor credit profile, limited institutional ability to underwrite financing, a decline in correspondent banking relationships, and geopolitical and economic risk factors.

Finance

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. Together, the companies are rolling out an offering that arms SMBs with commercial cards without the need for a personal guarantee, according to a press release.

Commercial Card

PYMNTS

MARCH 14, 2017

Once one gets in, their SAT score is officially useless to them; a mortgage underwriter won’t ask about it, credit card companies don’t care about it, and while we can’t be sure that no employer on Earth would make a hiring decision on the basis of it, we are fairly sure that the list of those that do is vanishingly short. Possible Troubles.

CFPB

Fintech Finance

MARCH 6, 2024

On top of this, Allianz Trade pay is also bringing some innovative solutions to the market: A buyer onboarding solution : this service is a ‘company search’ module at check-out. The post Allianz Trade launches Allianz Trade pay, a new range of services fully dedicated to B2B e-commerce activities appeared first on Fintech Finance.

B2B

PYMNTS

DECEMBER 9, 2019

Among the opportunities is the concept of decentralized credentials, which involves the use of distributed ledger technology (DLT) to establish digital identities for credit union members, without relying on a central authority to manage that database. “The biggest weakness a payment has is anonymity,” Esser said. .

Credit Union

PYMNTS

DECEMBER 14, 2017

By way of example, Cottrell posited a donation management software platform, which brings tools together for different organization verticals (faith-based or fraternal, for example) and whose services have grown beyond the purview of managing member databases to communications. Consider the PayFac that must shoulder liability along with risk.

Facilitators

CB Insights

MARCH 21, 2018

For flight insurance, a smart contract could be linked to an air traffic control database, and automatically trigger compensation when delays or cancellations occur. Allianz Insurance recently launched a prototype for captive insurance, built on top of Hyperledger’s Fabric blockchain.

Blockchain

PYMNTS

JUNE 18, 2018

Potential clients go online with Credable to check the creditworthiness of their customers, using data accumulated by the Swedish firm, which can leverage the database of its parent company, Allianz. So, how does one insure invoicing via digital methods? A client uploads an image of the invoice to the Credable app.

Payment APIs and Integration

Nanonets

MAY 10, 2023

For instance, collaborative tools, inboxes that are shared, and databases. Start Free Trial Kissflow Kissflow - workflow automation platform Kissflow is a low-code workflow automation software used to create and manage processes from a single database. List every possible input route. Or Start your free trial !

Automation

FICO

JUNE 12, 2019

The key risk signals leveraged by the FICO Cyber Risk Score are based on a deep database of timeseries historical information, collected by FICO, which spans the entire internet address space for six years. As a result, organizations may confuse security activity (e.g., Depth and breadth of signals.

Risk

Fintech Labs Insights

AUGUST 17, 2016

The Florida-based company announced yesterday it has expanded the Cortera Credit Exchange database. Between January and July 2016, this database increased by more than $170 billion in B2B purchases. This brings the database’s total annual purchase insights to $1.2 businesses. We’re excited about the path we’re on.”.

Database

The Fintech Times

SEPTEMBER 24, 2024

Alternative data analytics specialist QuantCube Technology has unveiled an Asset Mapping database, designed to fill the data gap facing banks, insurance companies, asset managers and corporates as they seek to monitor the risk exposure of the physical assets they own and invest in.

FinTech

Fintech Labs Insights

JANUARY 11, 2017

Underwriting. Fintech example : AI can help underwriters create a uniform metric that accurately identifies risk across borrowers. The lending industry has already transformed its underwriting practices from relying on large databases to now using AI to analyze large amounts of scattered, unstructured data.

AI

Payment Savvy

SEPTEMBER 5, 2024

It also streamlines a range of services that businesses depend on, from loan underwriting to real estate appraisals. By merging artificial intelligence with data about consumers, fintech companies can gain deeper insights into their customers, which in turn fuels the engines of marketing efforts for products and underwriting processes.

FinTech

PYMNTS

APRIL 18, 2017

The playbook we would recommend starts with organizational communication,” Frechtling explained, noting that sales, underwriting and account monitoring are three key functions for addressing compliance and risk. Flushing Out the Hustlers. It can be described as fraud forensics in real time. “A A lot of fraud can happen quickly.

Law Enforcement