As one of the hottest trends in payments, embedded finance has emerged as a compelling credit proposition for consumers and businesses. The execution demands an intricate web of collaboration and technology and might even intersect with another hot concept: open banking. As Tribh Grewal, head...
Experian is providing debt relief and financial education, products and services to more than 5,000 Hispanics nationwide. The initiative is a response to findings that high numbers of Hispanics lack access to bank accounts and credit and that they report feeling the least financial security...
Mexican FinTech startup Stori has begun its expansion into Colombia. The company said it will spend $100 million on the project over the next three years and has named former Rappi head of payments Carlos Ayalde to lead its operations in Colombia, Bloomberg reported Thursday (Aug. 29). Stori focuses...
Banks have been fine-tuning their branch efforts as the pandemic recedes, shuttering locations in some markets and building new outposts in others. The Federal Reserve said in a recent blog post that in some cases, “banking deserts” have emerged, impacting 12 million individuals in the...
VantageScore unveiled a new credit-scoring model that uses both traditional credit data and alternative open banking data. The combination gives lenders a predictive lift of up to 10% compared to the VantageScore 4.0 credit score, which itself gives an 8% lift over conventional scoring models, the company said in...
This week, Michael Hsu, acting comptroller of the currency at the Office of the Comptroller of the Currency (OCC) called on U.S. financial institutions (FIs) to take steps to serve newly arrived immigrants before they can slip into the ranks of the country’s unbanked. “The OCC encourages...
Intuit launched a financial literacy program that provides U.S. high school educators with resources to teach their students about personal and entrepreneurial finance. The new Intuit for Education program covers budgeting, saving, managing credit and other essential skills, the global financial technology platform said in a Tuesday (April...
Last year, banks shuttered 2,300 branches. The move should come as no surprise, given the fact that banks, like any other business, have been examining their cost structures. At the same time, they’ve been investing aggressively in technology and digital experiences, fending off challenges from...
Last year, Uber began offering highly supervised services to young passengers. Now, the ride-hailing and delivery company is giving parents even more oversight into how their kids use the app, with a monthly spending limits feature announced Thursday (Feb. 29). “With spending limits, you can set a custom budget...
