Cross River announced it would power FuturePay's "MyTab" digital revolving credit platform, a merchant-focused consumer credit as a service.
Often marketed as a "force for good," UK fintech's actual impact on issues such as diversity and the climate crisis remains limited.
By offering buyers more flexible payment terms, BNPL encourages consumers to take on more debt they may not be able to repay.
As 43% of Generation Z and millennials increase credit card spending, it's an incentive to learn the preferences of this influential group.
The economic, reputational, and strategic implications of enforcement action can long outlive the action itself.
With regulation taking center stage, there's an opportunity for banks to take the place of some large BNPL providers and lead the space.
Lenders have long identified the need to develop better scoring models that include those with thin or no credit files, but the problem persists, Credolab’s CSO Michele Tucci said. Credolab tackles the problem using privacy-consented and permissioned data through smartphones and web pages.
Pinwheel’s new partnership with American Express is the latest development for a fintech that has been quite busy over the past two years. The income and employment API is now American Express' direct deposit switching partner for their new checking account.
TransUnion, one of the big three credit bureaus, has launched a new data analytics platform called OneTru.
The new platform will offer banks and fintechs AI and ML tools for addressing a variety of credit, anti-fraud and marketing needs.
First-party fraud is rife, costing over $100 billion a year. Many say they're accidental, but data sharing could stop repeat offenders.