Ten years ago, the three national credit bureaus got together to start a challenger to credit scoring’s dominant player. Out of that, VantageScore was born, and its new scoring model eventually gave 30 million-35 million consumers a score and access to credit. VantageScore President and...
PayPal and Village Capital announced Tuesday (March 8) their global collaboration efforts aimed at supporting startups that serve the financially excluded. This relationship between PayPal and Village Capital, a venture development organization that finds, trains and funds entrepreneurs working to solve global challenges, aims to improve access...
Visa is expanding its footprint in the African continent with a new base in the Ivory Coast for serving the underbanked population in the region, the company announced. The operation, which is set to be launched out of a new office in the francophone country, will engage with...
While a number of infrastructural and operational obstacles had historically made cash-based digital transfers for developing regions a near impossibility, GiveDirectly is looking to change that. Its Co-Founder and Executive Chairman Michael Faye shares with MPD CEO Karen Webster what inspired the nonprofit, as well...
Vodafone and TransferTo, a company specializing in international airtime credit and mobile money transmissions, said Wednesday (Feb. 17) that they are working together to enable real-time global money transfers via M-Pesa Mobile Money accounts around the world. The partnership will aim to facilitate the ability...
Creditworthy but unscorable. What gives? Old credit scoring models, for one. VantageScore sat down with PYMNTS to explain how using new credit scoring models can expand the pool of borrowers without increasing the risk to the lender.
The Silicon Valley-based startup Stellar, an open-source payment network that’s backed by Stripe, has announced a new partnership aimed at bringing instant money transfers to Nigeria. That partnership with Oradian, a FinTech company that provides core-banking software for local financial organizations and provider of microfinance systems...
Consumers in the developed world tend to think of their financial systems as complex, particularly as compared to the developing world. And while that is not an entirely incorrect perception, it might just be a little bit skewed. When it comes time to pay in...
Though confusing to non-financial professionals, a big loan is much easier for a bank to make than a small loan. Though the natural assumption is that it would somehow be harder to loan more money than less, the reality is that the administrative side of...