Tagged: credit

Alloy Expands Credit Underwriting Offering to Assist Fintechs with Making Inclusive Credit Decisions

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

Uplinq Works with EY to Provide Loans for SMEs

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

UK Fintech Zilch Launches Product to Help Consumers Excluded from Mainstream Credit

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

Experian Introduces New Card to Support Consumers with Becoming Debt-Free, while Building Credit

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

Mastercard Responds to Congressional Letter on Credit Card Competition Act

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

Percent Enters Senior Lending Partnership to Support Capital Sources Available for Lower Middle Market Lenders

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

Alternative Financing Set to Capitalize on $500B SME Credit Opportunity in India, Report Claims

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

Fintech Cross River, Current to Enable Financial Inclusion, Serving Underbanked US Consumers

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

FTC Charges Experian with “Spamming” Clients Who Signed Up for Accounts with Marketing Emails They Couldn’t Opt Out Of

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

AI’s Role in Credit Scoring Expected to Grow Exponentially, in line with Generative AI Advancements: Report

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

Gen Z Consumers Turning to Bankcards, Unsecured Personal Loans As Lenders Tighten Underwriting, Report Reveals

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

Global Fintech SumUp Enters $100M Credit Facility with Victory Park Capital

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

Tradeweb, LSEG’s FXall to Launch FX Swap Workflow Solution

Tradeweb Markets Inc. (Nasdaq: TW), a global operator of electronic marketplaces for rates, credit, equities and money markets, announced it has launched a new and innovative solution to help institutional investors trade Emerging Markets (EM) products more efficiently. Developed in collaboration with FXall – LSEG’s… Read More

European Investment Platform Bondora Committed to Enhancing Credit Industry for Clients

European investment platform Bondora says it remains committed to improving the credit industry for all customers. Pärtel Tomberg, CEO and Founder of Bondora, has said: “So far, we have issued credit agreements in accordance with the law and previous guidelines. We don’t foresee significant changes… Read More

Fintech Firm Earnest, Nova Credit Launch International Private Student Loans

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

Fintech Firm Hello Alice, Global Entrepreneurship Network Announce $70M Equitable Access Fund

The Global Entrepreneurship Network (GEN) and Hello Alice, the fintech helping over one million small businesses access capital, announced the creation of a $70M Equitable Access Fund, with initial funding “led by Wells Fargo, that will be developed and deployed over the next five years… Read More

Latin America: Fintech Dock Launches Responsible Credit Solutions to Enable Financial Inclusion

Dock, an innovator in payments and digital finance infrastructure across Latin America, announced the launch of Responsible Credit Solutions on its proprietary Dock One platform. These solutions enable businesses “to offer an array of flexible, customizable credit and loan products to their customers in a… Read More

Tarabut Gateway, MENA’s Open Banking Platform, Partners with Qarar, the Credit Analytics Tech Firm

Tarabut Gateway, MENA’s open banking platform, announces a strategic partnership with Qarar, the region’s credit analytics technology provider and technology arm of SIMAH, the first and largest credit bureau in the Kingdom of Saudi Arabia. This strategic partnership is set to enhance the financial landscape… Read More

Fintech Klarna Introduces UK’s Credit ‘Opt Out’ After Meeting with MP

Klarna, the global payments network and shopping destination, has today launched the UK’s first voluntary credit ‘opt out’, an additional tool in the Klarna app to help consumers save time, money and worry. The new feature will “help consumers achieve their financial goals by providing… Read More

TransUnion Report: Consumers Increasingly Turning to Credit, Unsecured Loans to Manage Household Budgets

The newly released Q1 2023 Quarterly Credit Industry Insights Report (CIIR) from TransUnion (NYSE: TRU) shows that in this current economic climate in which inflation remains at elevated levels and interest rates have risen sharply, consumers “are increasingly turning to credit to manage their household… Read More

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