Tech complexity spurs enhanced risk measures
Advances in digitalization and machine learning are sparking a need for lenders to revisit operational risk management protocols. In the…
Binance Kazakhstan gains consent for full regulatory license
Binance Kazakhstan has been granted consent for a full regulatory licence from Astana Financial Services Authority (AFSA).
Polaris, Suzuki incentives surge in June
Off-road vehicle incentives are surging in June as manufacturers vie for market dominance. Manufacturers Bombardier Recreational Products and Polaris are…
Revolut and Monzo go head-to-head with interest bearing savings accounts for kids
Revolut is launching an Instant Access Savings accounts for kids and teens aged 6-15 with market-beating rates of up to 4.5% AER
Thought Machine goes global with latest hiring spree
UK cloud-native core banking vendor Thought Machine is gearing up for growth by boosting its global headcount by more than 20% – 125 people – as it makes its first hires in India, Japan and South Africa.
PictureWealth scores $12 million seed funding; acquires NFS
Australian wealthtech startup PictureWealth has secured $12 million in seed funding and acquired Perth-based financial planning tool NEO Financial Solutions for an undisclosed sum.
Podcast: Q3 earnings season begins, Octane enters marine
Chase Auto and Wells Fargo kicked off the Q3 earnings season last week, with both lenders reporting flat or lower…
Bunq leverages NVIDIA AI to debunk financial fraud
Dutch neobank bunq this week announced their partnership with NVIDIA to combat fraudsters with the help of accelerated computing and AI.
SoFi fined $1.1 million over flawed ID programme that led to multi-million dollar fraud
SoFi’s self-directed retail brokerage unit has been fined $1.1 million by financial regulator Finra over ID verification failures that enabled thieves to steal $8.1 million from the accounts of customers at other financial institutions.
Danske Bank signs cloud deal with AWS
Denmark’s Danske Bank has signed a multiyear agreement with Amazon Web Services (AWS) as part of a strategy to invest more in cloud technology.
Cox Automotive & FICO tackle complexities of subprime auto finance amid increasing student-loan delinquency
TransUnion previously reported that consumers who have recently gone delinquent on their federal student loans because of policy changes have seen their credit scores drop by 60 points on average. That decrease might shift those individuals into the subprime credit … [Read More]
Report shows 165% increase in complaints to CFPB by servicemembers during a 4-year span
Advocates are encouraged and concerned following the release of a new report on Tuesday from the U.S. PIRG Education Fund and Frontier Group that analyzed a portion of complaints published by the Consumer Financial Protection Bureau (CFPB). While not specifically … [Read More]
Experian Q2 data could illuminate ongoing movements involving affordability & risk
Is vehicle affordability improving for consumers? Or are finance companies not taking on as much risk? To help you decide, consider these metrics from Experian’s State of the Automotive Finance Market Report: Q2 2024 released on Thursday. Experian determined the … [Read More]
PODCAST: Talking product refunds at Used Car Week
We continue our episodes of the Auto Remarketing Podcast originating from Used Car Week 2024 in Scottsdale, Ariz., with another conversation about product refunds — perhaps one of the most complex parts of auto finance. Nancy Coleman of Stellantis Financial … [Read More]
Under the Hood: Social sites shed light on consumers’ auto loan concerns
Financiers expect lending conditions to worsen, and dealers perceive the auto market as weak, according to recent surveys, but for…