Podcast: Q3 captive originations are mixed
Third-quarter earnings were mixed again, with some captives reporting growth in originations while others logged declines. Credit performance worsened across…
Auto credit availability improves slightly again in September
Perhaps because of automotive market and general economic turbulence, there might be some tightening of underwriting by finance companies. The Dealertrack Credit Availability Index showed that development has yet to come based on Cox Automotive data gathered in September. The … [Read More]
AI contributes to 25% rise in fraud losses
AI-assisted fraud rings are contributing to a rise in losses at financial institutions such as credit unions. Fraud losses…
Singapore fintech TranSwap to build Edinburgh R&D centre
Singapore-based cross-border payments platform TranSwap is making a move into the UK market with plans to open an Edinburgh research and development centre employing more than 50 people.
CFPB penalizes Hyundai Capital America $19M over credit reporting
The largest monetary penalties handed out by the Consumer Financial Protection Bureau (CFPB) since Rohit Chopra became director in October surfaced publicly on Tuesday afternoon. And those penalties surpassing $19 million relate to auto financing. The CFPB penalized Hyundai Capital America … [Read More]
How is biometrics transforming banks’ security?
Finextra sat down with digital identity verification platform Veridas to learn more about how biometrics is taking over the cybersecurity industry. CEO and co-founder of Veridas Eduardo Azanza spoke on new developments in the field and the emerging technology’s potential to revolutionise security.
UBS Asset Management launches fund on ethereum blockchain
UBS Asset Management has launched a tokenized money market investment fund built on ethereum distributed ledger technology.
Blockchain to become ‘beating heart’ of financial system
Blockchain technology will fundamentally alter the way financial institutions do business, according to a report from the World Economic Forum.
Experts tackle lending-market impact if ‘unease’ creates recession
Experian North America chief economist Joseph Mayans and ADP chief economist Nela Richardson have used the terms “recession” and “unease” when discussing their respective looks at the lending market, the employment scene and general economy in recent days. You might … [Read More]
Podcast: CFPB halted, Q4 earnings continue
The Department of Government Efficiency, run by Elon Musk, effectively shut down the Consumer Financial Protection Bureau over the weekend,…
Launcher & Scienaptic AI look to boost credit access & underwriting via partnership
This week, Launcher and Scienaptic AI announced their full integration for mutual auto finance clients to make more advanced underwriting decisions. The companies said they’re able to achieve that objective by incorporating artificial intelligence-powered underwriting signals within Launcher’s appTRAKER Loan … [Read More]
Mastercard makes sustainable cards pledge
Mastercard is stepping up its sustainability efforts, vowing to ditch all first-use PVC plastics from its newly produced cards by the beginning of 2028.
BNP Paribas Fortis, HSBC open developer portals
BNP Paribas Fortis and HSBC are inviting external developers to develop and test new digital banking services using the banks’ APIs and internal sandbox environments.
60-plus-day delinquency growth slowed in Q2
Delinquencies climbed across auto loans in the second quarter, but at a lower rate than a year ago, as student…
Arra Finance closes acquisition of Crescent Bank’s auto-finance division
Arra Finance announced via social media on Tuesday that it has closed its acquisition of Crescent Bank’s auto-finance division in a move originally revealed in June. When Arra Finance first announced the acquisition, the subprime auto finance company said Crescent … [Read More]