Unifund CEO Consumer Credit Caution: “Time To Stop Getting Lost In The Averages”
Credit, and the consumer’s relationship with it, has changed rather dramatically over time. But those changes can only be seen if one takes a big step back and looks across the intersection of credit...
View ArticleEquifax CEO Vows To Make Changes, Protect Consumers In Wake Of Breach
Equifax Security chairman and chief executive officer Richard Smith recently penned an Oped in USA Today in which he vowed to provide protections to everyone who was impacted by a massive data breach...
View ArticleActivists To Use GDPR To Get Data From German Credit Scoring Company
With Europe’s new data protection law coming into effect this week, activists are aiming to turn the tables on big companies that have long harvested data on customers. According to a report in...
View ArticleExperian Invests $28M In FinTech Lender C88
C88 Financial Technologies (C88) announced that it has received an over-subscribed $28 million in a Series C investment from Experian. Other investors in the round include responsAbility Investments,...
View ArticleSizzle Of The Week: More Inclusive And Expansive Credit Scoring
Consumers with thin credit files got something of an early Christmas present this week, care of Experian. The credit rating agency announced the launch of Experian Boost, a service that provides a...
View ArticleFive At Five: Amazon’s India Expansion
Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes the latest international plans from Amazon and a new bid for Sears. Google is becoming...
View ArticleWhat Smart, Conversational AI Adds To Credit Scoring
Traditional credit-scoring models have not had it easy in the court of public opinion over the last few years. The complaints vary in their specifics, but all revolve around a basic premise: The old...
View ArticleOn Capitol Hill, Credit Bureau CEOs Say Reporting Changes Are In the Air
Executives from the trio that has come to dominate credit reporting — Equifax, Experian and TransUnion, of course — appeared on Capitol Hill and gave testimony before the U.S. House Committee of...
View ArticleIndonesian Lending FinTech JULO Closes $15M Series A
Indonesian peer-to-peer lending platform JULO is closing its Series A2 funding round with $15 million raised, after extending its initial $5 million Series A funding by an additional $10 million,...
View ArticleAlibaba, Tencent Withhold Data To Defy China’s Credit Score
Chinese tech titans Alibaba and Tencent are spurning the government’s private credit-scoring protocol by restricting access to customer data, The Financial Times reported on Thursday (Sept. 19). The...
View ArticleNova Credit Nets $50M To Aid Immigrant Credit Access
Cross-border consumer credit startup Nova Credit has raised $50 million in Series B equity financing, according to a Wednesday (Feb. 12) release. The investment was led by Kleiner Perkins, along with...
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How FIs And FinTechs Are Expanding The Credit Card Paradigm
As consumers shop amid ongoing public health restrictions, they almost invariably reach for their credit cards — whether the physical varieties in their wallets or the digital versions stored on their...
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How AI Can Help Banks Decide Which Struggling Borrowers Deserve Help
Amid the pandemic, banks have “frozen” at least $150 billion of loans – equating to about 5 percent of their consumer portfolios. The question becomes: What happens when the freeze thaws and lenders...
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FICO’s Resilience Index Predicts Borrowers’ Risk During Economic Uncertainty
In an effort to keep credit flowing amid uncertain economic conditions, FICO has unveiled its FICO Resilience Index. The tool is meant to complement the FICO Score and allow lenders to take into...
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Machine Learning Helps Expand Credit Access In Emerging Markets
Artificial intelligence (AI) is helping increase access to financial services in Africa. In recent years, advances in machine learning, a type of AI, have had a profound effect on the delivery of...
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Abound CEO Says AI-Driven Lending Still Needs People to Perform
Traditional consumer credit scoring, which overlooks a large proportion of the population, may have been the norm for years, but Gerald Chappell, CEO and co-founder at U.K.-based open banking startup...
View ArticleHow Could Generative AI Change Payments Processing?
While generative artificial intelligence (AI) makes headlines, the technology has for years been driving efficiencies. Particularly within the payments space. Already, automated machine learning (ML)...
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