Credit referencing and support

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/Credit referencing and support

VeraScore unveils credit monitoring model focused on equality

VeraScore, an innovative AI platform for measuring consumers’ financial health, is introducing a SaaS-based model that will allow lenders to more accurately and fairly extend credit. T

HSBC invests $10m in Nova Credit

/inclusion

HSBC invests $10m in Nova Credit

HSBC has invested $10 million in Nova Credit as part of a wider partnership giving the bank global access to the startup's cross-border credit data product.

/wholesale

Redwood signs for Jaywing commercial real estate credit scoring software

Established Jaywing client and specialist lender, Redwood Bank, will use Echelon, Jaywing's SAAS risk technology framework, to process credit applications and apply consistent credit scoring approaches to businesses applying for loans.

Fintech lending boosts credit access for US small businesses

/wholesale

Fintech lending boosts credit access for US small businesses

The use of alternative data sources and machine learning to assess the credit quality of applicants gives US fintechs an advantage over banks when it comes to small business lending, according to a paper from the Bank for International Settlements.

/retail

Codat partners nCino to help banks underwrite small business loans

Codat, the universal API for small business data, today announced a partnership with nCino (NASDAQ: NCNO), the worldwide leader in cloud banking, to automate and accelerate banks' ability to underwrite small business loans around the world.

FTC fines Credit Karma $3m over false 'pre-approved' offers

/regulation

FTC fines Credit Karma $3m over false 'pre-approved' offers

Credit Karma has been fined $3 million by the Federal Trade Commission for "tricking" Americans with allegedly false "pre-approved" credit offers.

Alloy raises $52m for global expansion

/retail

Alloy raises $52m for global expansion

Alloy, the New York-based company behind an operating system that helps banks and fintechs make better identity and risk decisions, has raised $52 million at a $1.55 billion valuation.

/retail

Tink introduces affordability verification product

Europe’s leading open banking platform, Tink, has today announced the launch of its new product Expense Check, designed to simplify and streamline the customer affordability verification process for lenders.

/startups

Spectral raises $23 million for Web3 credit crosing model

We’re excited to announce that we’ve closed a $23 million round led by General Catalyst and SocialCapital. Samsung Next, Gradient Ventures, Section 32, Franklin Templeton Investment, Shrug Capital, Circle, Jump Crypto and others participated.

/startups

GCV leads £695,000 investment round into Finexos

Growth Capital Ventures has led a £695,000 investment round into Finexos, a fintech platform set to improve access to credit for millions of people around the world.

/retail

Alliant Credit Union partners Upstart on AI-powered personal loans

Alliant Credit Union, a fully digital, top 10 credit union in the U.S. with more than 650,000 members and over $15 billion in assets, today announced it has partnered with Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending marketplace, to offer AI-powered personal loans nationwide.

/retail

Trustfolio partners with Equifax to offer debt advisers instant access to bank transaction data

Trustfolio Ltd, the ‘debt-tech’ collective behind the Debt Adviser Support Portal and other digital tools for creditors and third parties designed to ‘enable better debt solutions’, has partnered with Equifax to launch a new feature powered by Open Banking.

Equifax coding issue leads to inaccurate credit scores

/retail

Equifax coding issue leads to inaccurate credit scores

Equifax says a "coding issue" is to blame for it providing inaccurate credit scores for millions of Americans.

/retail

Lokyata boosts platform to help lenders modernise decision automation

Lokyata, a company focused on delivering products that digitize, automate, and scale lenders’ credit decisions, has released a number of platform enhancements to help lenders further automate loan decisioning to save time, minimize manual work, standardize processes, and improve underwriting performance.

/retail

Crif introduces open banking-led consumer credit scoring to UK

Europe’s leading provider of credit information, CRIF, has expanded its open banking-powered consumer credit solution to the UK, helping more people access affordable, responsible credit during the current economic climate.

Morgan Stanley and Mastercard back credit-building startup TomoCredit

/inclusion

Morgan Stanley and Mastercard back credit-building startup TomoCredit

TomoCredit, the US startup behind a credit card designed to help first-time borrowers build credit history, has raised $22 million in a Series B funding round joined by Morgan Stanley's Next Level Fund and Mastercard.

/retail

Fico teams up with Israel's Open-Finance.ai

Global analytics software provider FICO announced today a partnership agreement with Israel’s Open-Finance.ai, a risk, finance and compliance software enabler of open banking and finance services and consulting firm headquartered in Tel Aviv.

FairPlay raises $10m to tackle bias in lending

/startups

FairPlay raises $10m to tackle bias in lending

FairPlay, a startup using AI fairness techniques to reduce algorithmic bias in lending, has raised $10 million in Series A funding.

/cloud

EXL, Oliver Wyman and Corridor Platforms launch real-time risk decisioning tech for FIs

EXL [NASDAQ: EXLS], a leading data analytics and digital operations and solutions, Corridor Platforms, a leading decision workflow automation platform, and Oliver Wyman, a premier global management consultancy, today announced a joint venture to develop a risk decisioning-as-a-service solution for financial institutions.

X1 raises $25m for smart credit card

/startups

X1 raises $25m for smart credit card

X1, the challenger credit card for digital natives founded by former Twitter executives, is set to open to the public after securing $25 million in Series B funding.

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