The Government in Australia reportedly introduced new consumer protection legislation for Buy Now Pay Later (BNPL) that will see BNPL operators “regulated as consumer credit.” Most BNPL products are “not currently covered by the National Consumer Credit Act (Credit Act) meaning these providers are not… Read More
Earnest, a fintech company dedicated to making higher education accessible and affordable for everyone, and Nova Credit, a modern credit bureau bridging consumer credit data around the world, announced their partnership and the launch of International Private Student Loans. During the 2021/2022 school year, nearly… Read More
Compass, the Mediobanca Group consumer credit arm, has signed an agreement to acquire 100% of HeidiPay Switzerland AG from HeidiPay AG. HeidiPay Switzerland AG is described as “a fast-growing Swiss company specializing in the Buy Now Pay Later (BNPL) segment, with over 400 commercial agreements… Read More
NewDay, a provider of consumer credit in the UK, has appointed Checkout.com as its payments provider for debit card payments. The new partnership will see NewDay “streamlining its payment process, operations and reporting.” NewDay has “close to five million customers in the UK and processes… Read More
Experian has launched CreditLock, a new feature that will “enable customers to lock their Experian Credit Report at the touch of a button.” The launch comes “following data that shows 1 in 4 UK adults have fallen victim to fraud, with 75% of UK adults… Read More
Sezzle Inc. (ASX: SZL), a Buy Now, Pay Later (BNPL) solution in Canada, recently announced the expansion of Sezzle Up, a consumer credit-product, into the Canadian market. For Canadians who are either credit unserved or underserved, “the lack of a credit score and any history… Read More
Blnk, a fintech startup that enables instant consumer credit in Egypt, has “raised $23.7 million in equity and debt funding, and $8.3 million in securitized bond issuance to accelerate financial inclusion within underserved communities across the country.” The funds will support “further development of Blnk’s… Read More
Compass, the Mediobanca Group’s consumer credit arm, has reportedly “completed two deals in the Buy Now Pay Later (BNPL) segment.” The rationale for the deals is “to accelerate the bank’s growth in the deferred payment business using digital channels, which it has entered successfully with… Read More
The Consumer Credit Oversight Board Task Force in Malaysia recently shared the Consumer Credit Act consultation document, which is the new act that aims to properly regulate and consolidate all consumer credit activities under its unit, and to also support “fair” lending and “responsible” conduct… Read More
Ibancar, the asset based consumer credit platform, has signed its first institutional debt facility “up to an amount of €10m.” The business is scaling quickly in Spain and intends to expand its activity to Mexico as well as introduce other auto-related credit products, according to… Read More
i2c Inc., a provider of virtual payment and banking tech, reveals that it has teamed up with Credijusto, a technology-enabled SME lender in Mexico. Through the partnership, the firms will offer seamless credit services for the nation’s SMBs via the Covalto American Express credit card… Read More
FinAccel, the parent of Kredivo, an AI-powered digital consumer credit platform based in Southeast Asia, and VPC Impact Acquisition Holdings II (NASDAQ: VPCB), a special purpose acquisition company sponsored by Victory Park Capital, revealed on August 2, 2021 that they have finalized a definitive agreement… Read More
Equifax UK has reportedly made updates to its flagship credit risk product, Risk Navigator 5, which should establish a new standard in supporting improved decision-making and enhancing consumer credit outcomes. Implemented using Equifax UK’s largest-ever data set, Risk Navigator 5, has demonstrated its potential to… Read More
Buy now, pay later (BNPL) spending is set to nearly triple between 2018 and 2025, data from BNPL app Definanzas.com suggests, with much of that due to pandemic-driven spending pattern changes. Definanzas.com has seen its number of monthly active users grow by 186 percent year-over-year… Read More
TransUnion (NYSE: TRU) confirmed that consumer credit activity keeps rising from the COVID-19 pandemic lows, but some areas like automobile loans (subprime) performance have lagged. As noted in an update published on February 18, 2021, by TransUnion, the company’s Q4 2020 Industry Insights report looks… Read More
China’s reserve bank has issued the nation’s second license for collecting personal credit ratings to an initiative between a state-managed enterprise and two Internet companies. The move suggests that the Chinese government may want to get involved in deciding how technology interacts with finance (while… Read More
Michele Tucci, Chief Product Officer at CredoLab, a Fintech firm that’s focused on driving better credit decisions with the help of its platform, explains that his company has a strategy that may help US lenders with coming out of the COVID-19 pandemic “stronger than before.”… Read More
Nova Credit, a U.S. cross-border consumer credit reporting startup, today announced it raised $50 million through its Series B funding round, which was led by Kleiner Perkins with participation from Canapi Ventures, Index Ventures, General Catalyst, and Nyca Partners. Nova Credit reported that the funds… Read More
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