Alternative data helps lenders score previously difficult-to-serve groups like thin- and no-file customers. Lenders seeking to serve those client groups need the right technology in place, Provenir’s executive vice president for North America Kathy Stares said.
The company has tripled its revenue and added new products like the Varo Advance personal credit advance announced in October last year.
The product lets users get small amounts of credit, starting from a feeless $20.
Global fintech behemoth FIS has signed a new partnership with Banked to expand pay-by-bank options for consumers and small businesses. Banked has created an alternative payment rail based on account-to-account (A2A) connectivity and powers real-time payments through this technology.
While Synapse collapse is in the news a lot right now, this is a reminder that not all fintech is created equal. Let's not forget that there are many fantastic innovations that have come out of the rise of fintech.
Embedded finance can help small businesses manage their money end-to-end, but not all companies are equipped to offer it properly.
The UK gig economy is underserved by lenders' traditional affordability assessment. A shift to probability of future income could be key.
Fraud is rising with the increased reliance on alternative payment methods, and AI could stop it. FIs have difficulties in adopting the tech.
While Web3 and the crypto world bring provide some unique situations, when insurance providers assess their risk, they go back to the basics. That is, if they touch it all.
Embedded finance and buy now, pay later (BNPL) are hotbeds of innovation, and Marqeta is in the middle of the action, CEO Simon Khalaf said.
Digital ID verification tools must respond quickly and accurately, even as fraudster methods change, Sumsubs's chief legal officer says.