EBizCharge

NOVEMBER 12, 2024

Merchant underwriting is an essential component of the payment processing industry, ensuring the safety and security of electronic payments. This process is critical for payment processors, who must determine whether a business poses a high financial risk. What is merchant underwriting?

Underwriting

Finezza

JANUARY 4, 2024

A combination of superior risk assessment, fraud detection capabilities, and quick and accurate underwriting turnaround can transform a lender’s success rate with borrowers and reduce non-performing assets. The revenue growth and profitability of a lending business depend on several factors.

Transactions

FICO

OCTOBER 27, 2016

It is also an important assessment tool for third parties such as potential business partners and, notably, cyber insurance providers. The number of underwriters active in the US market is growing rapidly as well, with a double-digit CAGR. The lingua franca of cyber breach underwriting .

Risk

Nanonets

APRIL 26, 2023

Automation can have a significant impact on this process—particularly the loan underwriting process. Loan underwriting is the step before a loan is approved or denied, where a lender verifies a potential borrower’s income, assets, debt and property details in order to issue final approval for the loan.

Underwriting

Fintech News

JUNE 12, 2024

It integrates an advanced cyber risk exposure scanning solution into the underwriting process. This technology enhances risk assessment by generating a real-time security posture score within a minute, allowing eligible small and medium-sized enterprises to obtain instant policy issuance in under 10 minutes.

Risk Assessment

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

Fintech News

SEPTEMBER 4, 2024

Paywatch, which operates across Malaysia, the Philippines, Indonesia, and South Korea, has recorded notable growth, processing over US$58 million in salaries to date and posting monthly disbursements of nearly US$8 million. The company expects to exceed US$120 million in disbursed salaries by the end of the year. With a US$6.6

FinTech

Fintech Labs Insights

OCTOBER 13, 2015

In the agreement, both companies will leverage the other’s unique security layer to combine email risk assessment with fraud scoring. Emailage, which debuted at FinovateSpring 2015 , offers a tool that assesses the risk associated with an email address. Feedzai made its European debut at FinovateEurope 2014.

Risk Assessment

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.

Risk

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

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

FICO

FEBRUARY 7, 2023

Home Blog FICO Top 5 Scores Posts of 2022: Steady FICO Score, BNPL and Alternative Data 2022 marked the first year in over a decade the average FICO Score did not increase, while the industry’s attention remained on topics such as alternative data and BNPL. Read the full post 2. Read the full post 3. Read the full post 4.

BNPL

FICO

NOVEMBER 30, 2016

These intelligent scores can be used to assess risk in the underwriting process for cyber security insurance, an exploding category that CFO magazine calls a “must have” : “A September [2016] survey by the Risk and Insurance Management Society found that 80% of the companies bought a stand-alone cybersecurity policy in 2016.”

AI

Finovate

SEPTEMBER 23, 2024

Power f raud detection and risk management While GenAI can continuously monitor transactions to detect anomalies and identify fraudulent patterns, Agentic AI can instantly flag suspicious activities, alert relevant parties, and even block transactions. Photo by cottonbro studio The post Are You Ready for Agentic AI?

AI

Nanonets

APRIL 11, 2023

In this blog post, we will discuss the challenges faced by commercial lenders today, the pain points in the loan process, and how loan automation can address these issues to deliver significant benefits to all stakeholders. This includes borrower information, income, and other relevant details required for underwriting.

Origination

PYMNTS

SEPTEMBER 18, 2018

Because as of today, the world of mortgage underwriting isn’t built for gig workers or the self-employed, thus making it challenging for those looking to dip in a toe. In the pre-2008 world, there was a genuinely failure in underwriting and risk assessment, as banks handed out mortgage loans to people who could not afford them.

Underwriting

The Fintech Times

MARCH 12, 2024

“Launched in 2012, the UN Environment Programme’s Principles for Sustainable Insurance Initiative (PSI) acts as a framework for the industry to tackle ESG risks and opportunities. As evidence mounts showing that EVs can be safer than traditional vehicles, insurers must adjust their risk assessments and pricing models accordingly.”

Mitigation

The Fintech Times

JULY 30, 2024

By leveraging payment transaction data and providing loan underwriters with real-time credit data, Network International hopes to enable its SME merchants to access new sources of capital. The combination of our payments data with Biz2X’s digital underwriting prowess is a clear advantage to lenders and merchants alike.”

Underwriting

PYMNTS

JUNE 16, 2016

Its biggest plan, reports said, is to use QuadMetrics’ capabilities in predictive analytics and risk assessment strategy to create an “enterprise security score” for business customers. FICO said it hopes to provide a tool to underwrite companies’ cybersecurity levels.

Security

FICO

OCTOBER 10, 2022

A low FICO score for a consumer can have the perverse effect of preventing them from having access to a second chance through manual underwriting. And financial institutions use FICO® Scores to underwrite lending to millions of people so that they can achieve their financial goals like buying a first home or starting a business.

Consumer

Payment Savvy

APRIL 14, 2021

Visa uses its Global Risk Standards to determine merchant risk level. Mastercard has a similar Business Risk Assessment. This allows for optimal merchant growth while minimizing the card brand’s risk. The risk review lies with the acquiring banks. They also charge more for high-risk transactions.

Acquirers

FICO

JUNE 23, 2023

The updated model reflects the evolving credit landscape and credit behavior to help better inform a higher level of consumer credit risk prediction. The validation results for FICO Score 10 T demonstrate improved credit risk prediction for this segment of the population. Moma holds an MBA and a Masters degree in Computer Science.

Risk Assessment

FICO

JANUARY 10, 2017

The minimum criteria needed to produce the FICO Score aren’t arbitrary — they are the result of decades of research into risk assessment. If two consumers score the same, lenders should expect their risk to be the same — but if one score is based on robust data and another on scanty or old data, these scores don’t mean the same thing.

Research

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 post Case Study: J.P. By combining J.P.

AI

The Fintech Times

DECEMBER 6, 2023

That leaves headroom in market areas that were dominated by mainstream players but are now becoming more niche, and niche is where we can find value and combine our underwriting with vibrant new services and tech layers. Insurers that embraced technology gained a substantial advantage over their peers.

FinTech

FICO

JUNE 26, 2019

That said, the market for security risk assessment scores and ratings remains nascent, with a double-digit CAGR that will likely continue into the foreseeable future. The same is true for cyber insurance brokers, underwriters and reinsurers. The post Cyber Scores: What Do They Mean? At FICO, we encourage you to ask.

Underwriting

FICO

JANUARY 24, 2018

Our FICO ESS customer, Barbican Insurance Group , participated in an excellent panel discussion about the evolution of the underwriting process. Barbican’s Cyber Business Group Leader, Graeme King, explained, “Risk and IT can be disconnected in respect of to cyber insurance. Barbican has partnered with FICO to assist in the effort.”

Cybersecurity

FICO

APRIL 28, 2023

Credit Risk Assessment Trends For a couple of decades now, there has been a growth in the use of alternative data (i.e., consumer data not included in the traditional credit file) for credit risk assessment. Therefore, we expect the use of consumer-permissioned data to grow in importance in the latter half of 2023.

Credit Risk

M2P Fintech

JANUARY 21, 2025

Key Features Customizable Decision Engine : HyperVerges decision engine is tailored to align with specific business rules, ensuring more accurate and efficient underwriting. These capabilities accelerate underwriting, enhance risk management, and improve decision-making accuracy.

Origination

Nanonets

SEPTEMBER 27, 2024

According to a recent study by Datos Insights , the insurance industry lags in terms of digitisation, with only 20% automation in underwriting and less than 3% automation in claims processing across sectors. Underwriting and claims processing are two key insurance processes that are still handled manually.

Process

M2P Fintech

NOVEMBER 7, 2024

In this blog post, we will explore the essential features of loan origination systems that every lender must have. Faster decision-making : Automated data sharing speeds up credit checks, approvals, and underwriting processes. First, let’s see what the Loan Origination System (LOS) is. What is a Loan Origination System?

Origination

FICO

AUGUST 2, 2017

That is the question for cybersecurity risk assessment. Before anyone thought to call the resulting algorithms “analytics,” they set off to create game-changing approaches to correlating signals with outcomes to help companies manage risk, reduce expense, and maximize opportunities. So why is empirical better?

Cybersecurity

Finovate

JUNE 21, 2024

Instead of traditional underwriting, the bank will review factors such as outstanding debt levels and the number of credit applications outstanding, as well as leverage Belvo’s open finance technology to secure income verification for applicants whose data is otherwise difficult to retrieve.

Financial Inclusion

The Fintech Times

MARCH 28, 2024

Our insurance sector partners and clients who have adopted satellite-based risk assessments see the clear benefits and have come back to ask for more. With our satellite-based monitoring and risk assessment technology we have swiftly created the capability to address this gap. appeared first on The Fintech Times.

Innovation

The Fintech Times

MARCH 31, 2024

“AI has been a game changer and excelled in analysing vast data sets, enabling accurate risk assessments, fraud detection, and streamlined claims processing. “Hence striking the right balance between automation and human expertise is crucial to enhance efficiency without compromising risks due to automated decisions.

Risk

The Fintech Times

FEBRUARY 20, 2024

Jumio , a provider of automated, end-to-end identity verification, risk assessment and compliance solutions, names Igor Beckerman as chief financial officer. The platform called Origo is focused on speeding up the underwriting process and delivering speedier and stress free mortgages to borrowers using the power of AI.

FinTech

Nanonets

AUGUST 16, 2024

Artificial Intelligence (AI) AI is particularly brilliant at handling complex tasks like fraud detection, risk assessment, and claims adjudication. 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.

Automation