Credit risk

153 articles tagged with this keyword

/Credit risk

China regulator says fintech must serve real economy

One of China's senior financial regulators has stated that the government will only support fintechs that serve the real economy, casting further doubt on the future of virtual currencies and related technologies within China.

/Credit risk

UK Treasury looks to fintech to revive the mortgage market

HM Treasury is offering £2 million to budding entrepreneurs who can develop an application that will enable Britain’s 11 million renters to record and share their rent payment data, helping to improve their credit scores and their chances of getting a mortgage.

/Credit risk

Cleveland Fed report comparing P2P lending to subprime mortgages removed for revision

A Federal Reserve Bank of Cleveland report which compared the peer-to-peer lending industry to the subprime mortgage market has been temporarily taken offline after questions were raised about the underlying data set.

/Credit risk

Fed researchers compare P2P lending to subprime mortgages

The peer-to-peer lending industry has the potential to destabilise consumer balance sheets, with loan performances bearing a striking resemblance to the subprime mortgage market before the 2007 crisis, warns a new paper from the Cleveland Federal Reserve.

/Credit risk

AI brings news stability risks, warns regulator

An increasing reliance on artificial intelligence by banks, insurers and hedge funds could have unintended consequences and threaten the financial system's stability, warns a report from a top global watchdog.

/Credit risk

New DLT consortium forms for syndicated lending market

A consortium of fintechs and banks has developed a distributed ledger technology (DLT) platform for the syndicated lending market.

/Credit risk

Former Credit Suisse board member de Boissard backs credit risk AI startup

Former Credit Suisse board member Gaël de Boissard and ex-Deutsche Bank COO Henry Ritchotte have invested in James, a startup using artificial intelligence to tackle credit risk.

/Credit risk

Capital One Canada launches free credit score tool

Canadians are suffering from ostrich syndrome, according to a new survey from Capital One which shows that more than half have never attempted to get their credit score.

/Credit risk

Big banks more popular than fintechs with US SMEs - survey

A survey of small business credit published by the Federal Reserve Bank of New York has revealed that online lenders are less popular with small and medium enterprises (SMEs) than big banks.

/Credit risk

Online lender Upstart raises $32.5m

Upstart, a US online lender founded by a gaggle of former Googlers, has raised $32.5 million in a funding round led by Japan's Rakuten and an unnamed asset manager.

/Credit risk

High rate of defaults hit P2P lending sector

Investors in the peer to peer (P2P) lending sector have seen their returns suffer due to a high rate of borrower defaults among start-ups, reports the Wall Street Journal (WSJ).

/Credit risk

P2P lender gets £40m boost from UK government

UK startup Funding Circle has received £40m from the state-owned British Business Bank (BBB)on the condition that the funds be used to lend to small businesses, according to a report from news website Business Insider.

/Credit risk

Fed Governor sounds warning on alternative credit scoring data

A Federal Reserve governor has cautioned fintech firms about the risks of using non-traditional data such as social media information to judge creditworthiness, warning that it could lead to them falling foul of fair lending laws.

/Credit risk

CPMI-Iosco reports push CCP regulatory agenda

Derivatives central counterparties (CCPs) have made meaningful progress in boosting their resilience in recent years but more work is needed to ensure consistency around the world, according to new reports from major global bodies.

/Credit risk

Baidu partners ZestFinance to turn search data into credit scores

Chinese web giant Baidu has made an investment in ZestFinance, a US fintech startup using machine learning to overhaul the credit scoring business. The size of the deal has not been disclosed.

/Credit risk

UK P2P lender MarketInvoice raises £7.2m

MarketInvoice, a UK-based P2P lender has secured more than £7m in its latest round of fundraising, defying the economic uncertainty around startups following the UK's controversial vote to leave the European Union.

/Credit risk

Ormsby Street partners Deutsche Bank to launch credit checking tool in Germany

British startup Ormsby Street has launched its small business credit-checking tool in Germany through a partnership with Deutsche Bank.

/Credit risk

US Treasury calls for online lending oversight

In a week in which the sector has been rocked by the Lending Club scandal, online marketplaces have been warned in a new report from the US Treasury that they need to be more transparent and should, in some cases, face greater regulatory oversight.

/Credit risk

Wells Fargo promises faster credit for small business customers

Wells Fargo is ditching the paperwork for small businesses in need of short-term credit with the introduction of FastFlex, an online, fast-decision loan that is funded as soon as the next business day.

/Credit risk

Branch raises $9.2m to bring mobile-based lending to developing markets

Branch, a startup promising to bring lending to people in developing nations by using data stored on their mobile phones to make credit decisions, has raised $9.2 million in a Series A funding round led by Andreessen Horowitz.