Clarity Services reports on details of its new Clear Bank Debit™ product in a blog post; product allows underwriters to confirm a consumer's banking status and utilize banking account transaction details for alternative credit underwriting; according to Clarity Services, the view provided by Clear Bank Debit™ can help lenders better understand risk. Source
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USA
Marketplace lending originations have been increasing significantly in the US and China however in 2016 both countries saw a number of challenges influencing the market and increasing risk; Moody's analyzes market similarities and differences in the two countries; reports on the variance in lending model structuring; notes that US marketplace lenders are more deeply integrated with partner-bank relationships; while structuring and partnerships vary considerably between the two countries, there are similarities, including reliance on big data, lack of credit cycle testing and ongoing development of regulatory standards. Source