Everything banks think they know about risk is wrong
The risk models that banks use to help inform their commercial-lending decisions have been dealt a blow by Covid-19. The pandemic has presented a crisis where historical correlations do not hold.
The coming opportunity in consumer lending
The global COVID-19 pandemic touched off economic effects that essentially ended the previous credit cycle in most markets. As these markets slowly resume normal activity, a new credit cycle will begin, offering innovative lenders a rare opportunity to expand into credit markets and win market share.
Blockchain and taking the politics out of tech
Ex-Treasury official and former Coinbase counsel Brian Brooks talks future of crypto with TechCrunch.
Broke and In Debt, China's Gen Z Adjusts to Life Without Easy Credit
China’s 36 million university students are starting to learn what it’s like to live without easy credit.
Last month authorities effectively shuttered student access to the once ubiquitous online loan industry, a sprawling collection of apps, fintechs and other unregulated lenders.
Brazil’s biggest banks battle for reinvention in digital era
Brazil’s big banks had it good for years.
A small club of institutions dominates the high street in Latin America’s largest economy, long notorious for its costly banking fees and borrowing rates, with their fat margins often the source of public anger.
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Plaid raises $425M Series D from Altimeter as it charts a post-Visa future
Plaid, a unicorn that helps connect consumers’ bank accounts to financial applications, has raised a $425 million Series D, it announced this morning. TechCrunch understands that the new capital infusion, led by Altimeter Capital, values the company at around $13.4 billion.
Mastercard invests $100 million in Africa Airtel mobile money
The $100 million investment from global payments giant Mastercard in the mobile money business arm of Airtel Africa announced this week is a sign of the rapid growth and optimism in Africa’s digital payment sector.
Signal Adds a Payments Feature—With a Privacy-Focused Cryptocurrency
When the encrypted communications app Signal launched nearly seven years ago, it brought the promise of the strongest available encryption to a dead-simple interface for calling and texting. Now, Signal is incorporating what it describes as a way to bring that same ease of use and security to a third, fundamentally distinct feature: payments.
Federal agencies seeks views on financial institutions' use of artificial intelligence
The agencies seek information from the public on how financial institutions use AI in their activities, including fraud prevention, personalization of customer services, credit underwriting, and other operations.