PYMNTS

DECEMBER 19, 2019

Insurance may not be the most flashy or exciting of industries, but its continued reliance on paper and inefficient underwriting processes makes the market a prime target for technology disruptors. “In a traditional process, the end user would, for example, have to find a designated industry code for their business,” he said.

Small Business

Finovate

AUGUST 6, 2024

Features Offers digital investing natively integrated into digital banking Supplies pre-made portfolios and self-selection of stocks, bonds, or ETFs Makes end-users feel like they are investing with their FI via 100% white-labeling Who’s it for? Banks and credit unions of all sizes. Credit unions and community banks.

Credit Union

PYMNTS

NOVEMBER 10, 2020

The second, indirect way is through the ability for financiers to use that same data to underwrite loans, a particularly valuable impact for SMBs in need of affordable capital. Together, these two use cases for open banking can be applied broadly with solutions surrounding ERPs, expense management, invoice financing and more.

Use Case

Stax

APRIL 17, 2025

Underwriting process/approval times To maximize customer retention and loyalty, your sub-merchant onboarding process needs to be as quick and frictionless as possible. Our sales and marketing enablement support ensures that ISVs get access to customized marketing plans that truly maximize the value of their platform to best serve end-users.

ISVS

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. By choosing to become a PayFac, SaaS companies and ISVs can enjoy incredible revenue-earning opportunities and greater control over the end-user experience.

Facilitators

PYMNTS

APRIL 19, 2018

The analytics software firm announced news on Wednesday (April 18) that Falcon Assurance Navigator, its solution to help identify fraud and spend waste in the procurement function, is now available on AWS, enabling end users to benefit from both tools, according to Doug Clare, vice president of product management at FICO.

Audit

PYMNTS

MAY 13, 2016

The PayFac does not have to underwrite all merchants upfront — they are instead, underwriting the merchants essentially as they continue to process transactions for them on an ongoing basis. RB: With most acquiring banks, they underwrite you, and register you and presto-chango — you are now ready to become a PayFac.

ISOs

PYMNTS

OCTOBER 21, 2019

Codat’s joining of the Open Banking Maketplace is targeting a new use-case, enabling banks to connect into accounting data to more quickly and accurately underwrite SMB loans. According to Cordona, accounting data is in a unique position to ease some of the largest challenges of SMB lending. feel like a second job.”.

Small Business

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

Lending Front

MARCH 2, 2021

After all, manual underwriting and approval processes can cost lenders as much as $5,000 in productivity loss—and thousands more in missed opportunities. . Now, the benefits of end-to-end automation and enterprise-wide digitization are demonstrating their ability to deliver more credit to customers—with less risk and overhead.

Credit Union

PYMNTS

DECEMBER 8, 2016

Finding that right balance between what financial institutions obviously need to cover from a regulatory perspective and eliminating friction from the end user experience isn’t so easy — especially when many millennials haven’t built up enough of a credit profile for banks to easily make that call. It’s All About The Use Case .

Due Diligence

PYMNTS

FEBRUARY 7, 2020

The partnership would apply Goldman’s lending technology to SMB loans on Amazon’s underwriting platform, according to unnamed sources. The SMB underwriting space is far from empty – and Amazon-Goldman will find themselves taking on players like PayPal and Square, which have invested heavily in this area.

Push-to-Card

Exact Payments

SEPTEMBER 25, 2023

Improve the end-user experience? This typically includes a payment gateway, end-user interfaces, merchant management platforms, and merchant dashboards. As the last step in the PayFac journey, this one never truly ends. Consider asking yourself the following questions: What are my key business drivers?

PCI DSS

PYMNTS

AUGUST 16, 2019

That discount, Reinsch noted, is determined by risk and time value of money, scored and computed by Qwil’s own proprietary underwriting algorithms. Lack of understanding is the first hurdle we come across,” he said, adding that collaborative efforts to educate end-users come through joint marketing between Qwil and its corporate clients.

Payment APIs and Integration

PYMNTS

OCTOBER 22, 2018

So, it is the providers taking the risk, because they are underwriting the risk of the loan.”. He noted that, in determining this financing, the underwriter reviews the services being booked and takes note of the device being used — perhaps a penthouse that might be financially out of reach is being put on a card.

Payments

Exact Payments

OCTOBER 30, 2023

This includes end-user payment features, a merchant platform, and back-end software for managing underwriting and risk monitoring. They must establish thorough risk management and underwriting policies that comply with regulatory requirements, such as anti-money laundering (AML) and Know Your Customer (KYC) rules.

Facilitators

PYMNTS

DECEMBER 5, 2019

Buyers and other end users expect seamless payment experiences, putting pressure on manufacturers to provide an experience that meets all parties’ expectations. The Playbook highlights the various frictions that manufacturers and distributors can experience in the onboarding process.

Point-of-Sale (POS)

PYMNTS

DECEMBER 30, 2019

It’s a delicate balance; in some ways, FinTech firms and banks are competing, but many FinTech firms rely on bank account data to provide the level of service that end users have come to expect. banking industry, as well as the inconsistencies in digitization, make the path toward ubiquitous Open Banking even more uncertain.

Non-Bank

PYMNTS

DECEMBER 9, 2019

Second is the concept of digital exchange of data between credit unions, critical for an array of processes from loan underwriting to payments. ” Credit unions must have access to both legacy and emerging payment rails to meet changing needs among end users.

Credit Union

PYMNTS

DECEMBER 14, 2017

Cottrell noted that a master merchant or merchant of record takes on all the liabilities – but, in linking up with the underwriting institution, questions arise. Along with underwriting (which itself takes a lot of work) comes policies and procedures that govern KYC and anti-money laundering (AML) processes.

Facilitators

PYMNTS

JULY 17, 2018

The blockchain hype-machine is driven largely from the technology’s proponents that say they have an application of the tool for everything: payments, risk mitigation, contracts, KYC (Know Your Customer) compliance, financing, cloud storage, an alternative to foreign exchange, credit underwriting.

Blockchain

PYMNTS

NOVEMBER 4, 2019

Both are key to addressing the modern demands of end-users.

Real Time Payments

Stax

JANUARY 17, 2024

After this, it usually takes about 3-5 days to get approvals post the underwriting process. End-users can send and receive payments instantly while benefiting from low transaction fees, flexible and recurring billing, and great customer experiences. This makes ACH PayFacs a desirable option for small businesses or start-ups.

ACH

PYMNTS

JANUARY 2, 2020

For other manufacturers, this may mean expanding corporate relationships from a few dozen distributors to thousands of smaller end users. Integrating with that many touchpoints can be a huge undertaking, impacting everything from processes to payments.

B2B

Nanonets

AUGUST 20, 2023

RPA streamlines tasks such as data entry, claims processing, policy administration, underwriting, and customer service. Tool Smartness: Ideally, the RPA tool should act as an end-user, mimicking human behavior and understanding natural language inputs.

Bots

Fintech Labs Insights

JULY 22, 2015

It’s no longer necessary to redirect end users to affiliate sites to complete a purchase with Spreedly’s universal vault product. Spreedly APIs minimize the complexity, cost, and risk of PCI compliance and payment integration.

Payment APIs and Integration

PYMNTS

MARCH 7, 2016

Yes, the sobering reality of having to really make money has become an unwelcome wake-up call for those who masked the real value of their business with the never-ending piles of VC cash that just kept underwriting losses and kicked the revenue can way down the road. Here’s insomnia-inducing problem No. Take checkout.

Online and Mobile Banking