Tagged: credit

February 24, 2024 @ 2:32 pm By Omar Faridi  |  

Varun Surapaneni from Neuberger Berman notes that the percentage of past-due loans “to riskier consumers has begun to flatten, while newly issued paper is carrying higher interest rates.” In an update titled, A Turning Point in Sub-Prime Credit, Varun writes that “after a challenging period… Read More

February 11, 2024 @ 3:27 pm By Omar Faridi  |  

Running a successful small business goes beyond profit margins; it’s about managing financial health. One crucial metric is your business credit score, according to the team at Thriday. Thriday’s latest feature – the business credit score check aims to address key requirements. As explained in… Read More

January 25, 2024 @ 6:55 am By Omar Faridi  |  

Experian has shared an important update which reveals that UK consumers may switch and save £672 annually as lower interest credit returns in 2024. According to a blog post by Experian, savvy Brits are already “taking advantage with searches for balance transfer credit cards up… Read More

January 19, 2024 @ 6:15 pm By Omar Faridi  |  

Kashable, a fintech platform that provides socially responsible credit and financial wellness solutions as an employer-sponsored voluntary benefit, announced a Series B capital raise of $25.6 million. The round was reportedly “co-led by Revolution Ventures and Moneta Ventures, with participation from EJF Capital and Krillion… Read More

December 23, 2023 @ 4:12 am By Omar Faridi  |  

PhonePe announced the launch of a new ‘Credit’ section on its platform. The new section will allow users “to view their credit bureau score without any additional cost, conveniently manage their credit/ Rupay cards and repay loans and credit card bills.” The Credit bureau report also… Read More

November 6, 2023 @ 9:59 am By Omar Faridi  |  

ESTO Holdings OU, an Estonian payment processor and consumer credit provider,  reported its financial results “for the three-quarters of 2023.” With revenue growth of 54% from a year ago, the company has “achieved a historic milestone by attaining a three consecutive quarter profit of EUR… Read More

October 28, 2023 @ 1:17 pm By Omar Faridi  |  

Percent, the private credit platform that has created the modern credit marketplace, announced the findings of a recent study completed with Coalition Greenwich on trends and data in private credit, demonstrating a seismic shift to private credit market investments. The study, titled “Coalition Greenwich 2023… Read More

October 27, 2023 @ 4:46 pm By Omar Faridi  |  

NerdWallet, Inc. (Nasdaq: NRDS), a platform that provides financial guidance to consumers and small and mid-sized businesses (SMBs), announced the launch of its first financial product for consumers—NerdUp by NerdWallet—a secured credit card designed to help users build and improve their credit responsibly. NerdWallet identified… Read More

October 19, 2023 @ 10:05 pm By Omar Faridi  |  

Alloy, the identity risk management company, is expanding its credit underwriting capabilities to support banks, fintechs, and other builders of financial products in managing their holistic credit risk. In a challenging macro-environment, Alloy enables lenders to “make smarter credit decisions, capture default risk, and increase… Read More

October 18, 2023 @ 1:05 pm By JD Alois  |  

Uplinq Financial Technologies is partnering with EY Canada to provide “fair and ethical credit” to SMEs via its credit decisioning platform. Mario Schlener, Partner and EY’s Lead Risk Consulting for Canada and Global FS Risk Technology, Alliance, Innovation, said the partnership with provide small business… Read More

October 12, 2023 @ 8:39 am By Omar Faridi  |  

Zilch, the UK-headquartered ad-subsidized payments network, today proudly unveils Zilch Up – a product dedicated to empowering people typically excluded from mainstream credit. This will create access for millions “to build their financial profiles safely and responsibly and without paying any interest.” The introduction of… Read More

October 4, 2023 @ 6:22 am By Omar Faridi  |  

Continuing its innovation to put debt-free, credit-building power in consumers’ hands, Experian launched the Experian Smart Money Digital Checking Account & Debit Card that embeds the first-of-its-kind feature Experian Boost. Now it will be even more convenient for consumers “to use Experian’s FICO Score -boosting… Read More

September 24, 2023 @ 10:19 pm By Omar Faridi  |  

Mastercard (NYSE: MA) wrote to several members of the U.S. Congress to highlight the harms the Credit Card Competition Act would “bring to consumers, businesses of all sizes and financial institutions. Today’s payments ecosystem enables consumers “to make purchases safely and securely while gaining access… Read More

September 21, 2023 @ 3:17 pm By Omar Faridi  |  

Percent, the private credit platform that has created the modern credit marketplace, announced a new partnership with a US-based, alternative credit investment manager focused on uncorrelated income-generating assets in niche markets. Through this partnership, an asset-backed warehouse facility “has been established, enabling Percent to bring… Read More

August 29, 2023 @ 9:46 pm By Omar Faridi  |  

The India Digital SME Credit Report 2023 released in collaboration between GetVantage and Redseer Strategy Consultants estimates that “a potential US$ 220 Bn credit deficit poses a roadblock to unlocking the economic potential of millions of digitized businesses.” Out of the current US$ 220 Bn… Read More

August 24, 2023 @ 11:40 am By Omar Faridi  |  

Cross River Bank, a technology infrastructure provider that offers embedded financial solutions, and Current, a U.S. fintech platform dedicated to empowering Americans in their pursuit of a brighter financial future, today announced the launch of a new credit building product. Together, the two companies will… Read More

August 17, 2023 @ 8:31 am By Omar Faridi  |  

The Federal Trade Commission will require Experian Consumer Services, which offers consumers access to their Experian credit information, “to pay $650,000 to settle charges it sent consumers unsolicited email without offering them a way to opt out of such messages, as required under the CAN-SPAM… Read More

August 15, 2023 @ 10:02 am By Omar Faridi  |  

Credit scoring is a statistical method employed by lenders to predict the probability an existing and/or prospective borrower or counterparty “will default on loans/credit products, or incur additional charges for repayment, also known as measuring creditworthiness,” the team at Juniper Research explains. Juniper Research also… Read More

August 14, 2023 @ 1:50 pm By Omar Faridi  |  

At the mid-point of 2023, Gen Z consumers (born between 1995 and 2005) increasingly find themselves with new access to credit products. The newly released Q2 2023 Quarterly Credit Industry Insights Report (CIIR) from TransUnion (NYSE: TRU) shows “that relative to the consumer population as… Read More

August 10, 2023 @ 8:40 am By Omar Faridi  |  

Global fintech company SumUp announced that it has entered into a US$100 million credit facility with Victory Park Capital (VPC), a global alternative investment firm specialising in private credit. The credit facility will enable SumUp “to provide advance payments to merchants based in the UK… Read More