Tagged: credit

September 3, 2022 @ 10:35 am By Omar Faridi  |  

The Federal Trade Commission (FTC) has taken action against credit services company Credit Karma for “deploying dark patterns to misrepresent that consumers were ‘pre-approved’ for credit card offers.” The FTC alleges that the company “used claims that consumers were ‘pre-approved’ and had ‘90% odds’ to… Read More

August 31, 2022 @ 1:07 pm By Omar Faridi  |  

dAMM Finance is building a decentralized borrowing and lending protocol for crypto assets that is “highly capital efficient” and accessible for many token projects. Credora is partnering with dAMM “to conduct privacy-preserving credit evaluations and real-time risk monitoring on eligible dAMM borrowers.” The partnership will… Read More

August 24, 2022 @ 8:38 am By Omar Faridi  |  

Growth Capital Ventures has led a £695,000 investment round into Finexos, a fintech platform set “to improve access to credit for millions of people around the world.” Oversubscribed by almost 40% from the initial target, the funds will be used “to drive forwards Finexos’s market… Read More

August 17, 2022 @ 5:07 pm By Omar Faridi  |  

Pomelo has announced a $20 million round in venture capital and $50 million in warehouse facility for a total of $70 million in seed financing, and claims to be “the first company to combine credit and international money transfer.” Pomelo also “announced its official launch… Read More

August 7, 2022 @ 8:25 pm By Omar Faridi  |  

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

August 3, 2022 @ 8:42 am By Omar Faridi  |  

Agile Financial Systems (AFS), a financial technology company specializing in payment processing, announced that it has teamed up with LendingPoint, an AI-driven CreditTech financial platform, “to offer merchants consumer lending and unsecured personal loans online and at the point of sale.” By enabling merchants to… Read More

July 29, 2022 @ 2:29 pm By Omar Faridi  |  

Lokyata, a company focused on delivering products that digitize, automate, and scale lenders’ credit decisions, has released a number of platform enhancements “to help lenders further automate loan decisioning to save time, minimize manual work, standardize processes, and improve underwriting performance.” The company “sees particular… Read More

July 26, 2022 @ 9:51 am By Omar Faridi  |  

Europe’s provider of credit information, CRIF, has reportedly expanded its Open Banking-enabled consumer credit solution to the United Kingdom, assisting more consumers with  accessing affordable, “responsible” credit during the ongoing economic crisis. CRIF’s credit scoring service, which is currently available to UK-based banking institutions and… Read More

July 19, 2022 @ 8:09 am By Omar Faridi  |  

Creditspring, which is on a mission to make “emergency” borrowing simpler and safer, has raised £8,056,088 or over 100% of its £8,034,420 target from 118 investors (at the time of writing) via Seedrs through its crowdfunding campaign (with 26 days left in the sale). Located… Read More

June 30, 2022 @ 11:35 am By Omar Faridi  |  

StellarFi, a public benefit corporation, recently announced its credit-building product is now “available to everyone.” With this news, 132 million Americans — who currently have poor credit or no credit, or are living paycheck to paycheck –– “may build their credit rating simply by paying… Read More

June 28, 2022 @ 8:20 am By Omar Faridi  |  

With its innovative tech, Provenir provides an AI-powered decisioning platform that can “assess risk in areas like identity, credit, and fraud.” The company prides itself on working with established partners, such as SEON who are able to “provide groundbreaking technology that can be incorporated within… Read More

June 26, 2022 @ 10:22 pm By Omar Faridi  |  

Small business credit platform Tillful, backed by ING Ventures, Experian Ventures, Bitrock Capital, and Katalyst Ventures, announced that it’s partnering with Experian to help establish credit profiles for businesses that “are new to credit or otherwise credit invisible, and thereby potentially expand the range of… Read More

June 1, 2022 @ 7:46 am By Omar Faridi  |  

The United Kingdom’s cost of living crisis is leading to a considerable increase in consumers checking their credit score. This, according to a recent update from Lloyds Bank. Elyn Corfield, Managing Director Consumer Finance at Lloyds Bank said: “Almost 1 million people checked their credit… Read More

May 26, 2022 @ 2:17 pm By Omar Faridi  |  

Viola Credit, a global alternative credit asset manager providing customized credit solutions to technology companies and Fintech lenders, announced the final closing of the Viola Credit Alternative Lending Income Fund II (ALF II) “with $700 million of investable capital including its flagship fund and related… Read More

May 25, 2022 @ 12:46 pm By Omar Faridi  |  

In a UK Credit Union “first,” Optimus Cards, the UK’s provider of white label card and banking solutions for traditional and new forms of currency, has introduces a flexible and “responsible” Credit Card product to Credit Unions at the Annual ABCUL conference. As mentioned in… Read More

May 23, 2022 @ 5:51 pm By Omar Faridi  |  

Jack Henry & Associates, Inc. (NASDAQ: JKHY) recently announced that Array’s credit management services, identity protection tools, and offers engine will be integrated into the Banno Digital PlatformTM, “offering consumers personalized credit and financial insights through their trusted financial institutions.” Array has leveraged the Banno… Read More

May 21, 2022 @ 12:54 pm By Omar Faridi  |  

Uplinq, the global credit assessment platform for small and medium sized business lenders, strengthens its global reach with Ranqx, a digital SMB loan origination, decisioning and monitoring platform “for lenders and banks.” With the help of Uplinq’s advanced technology, New Zealand based Ranqx will be… Read More

May 20, 2022 @ 2:58 pm By Omar Faridi  |  

Fraugster, an AI payment intelligence company, has announced the launch of their latest product, Alternative Credit Decisions, which allows Buy Now Pay Later (BNPL) and Enterprise merchants “to approve more customers without increasing credit risk.” There is a pressing need for a new approach because… Read More

May 20, 2022 @ 2:42 am By Omar Faridi  |  

Ophelos, the technology firm building “fairer” debt resolution for businesses and their customers, announces it has partnered with Plend, an “ethical” consumer lender using Open Banking “to provide affordable loans to those struggling with access to credit.” Both pending B-corporations, Plend and Ophelos are closely… Read More

May 17, 2022 @ 11:37 pm By Omar Faridi  |  

Experian, the global information services company, is pleased to confirm that it has agreed to acquire MOVA Sociedade de Empréstimo entre Pessoas S.A., a Fintech in Brazil that helps equip any company, including non-banks, “with the expertise and technology to perform data-driven credit assessments of… Read More