Resources

The financial industry is undergoing a transformative shift with the rise of open banking. In a recent development, open banking providers MX Technologies and Finicity have been approved by the Fair Credit Reporting Act (FCRA) for credit decisioning.

Stricter credit requirements as a "top-down" approach has helped mitigate some economic risk, and yet it has left many companies struggling to overhaul their approach to credit risk assessment.

The use of trended data in lending has gained popularity in recent years. This is due to recognizing the benefits of using this type of data, making more informed lending decisions, and identifying patterns of financial behavior that may not be apparent from a traditional credit report.  

U.S. consumers are continuing to use their credit cards despite the economic slowdown. In the latest quarter, spending on Visa credit cards saw a 9.5% YoY increase, while MasterCard saw an even bigger jump of 14%. This growing trend outpaces inflation and is due to the enduring appeal of credit cards.

 In the digital era, personal lending products emerge daily from various banks, credit unions, and fintech companies. When it comes to the U.S. and Canadian markets, it is critical to understand the full credit lifecycle of lending and risk management to remain agile and competitive.  While the countries may share a border and many…

 Bias may present itself in a variety of ways within lending. When assessing biases, two issues frequently arise: Was someone treated differently because of who they are? Or did a sincere goal activity end as being harmful to one group? A recent wave of technological innovation has enabled lenders to better comprehend how distinct…

 By end of this year, fraud is projected to cost U.S. businesses roughly $2.5 Billion, with some research suggesting that figure could rise as high as $5 Billion by 2025. There’s no doubt that every business is vulnerable to fraud, due largely to the numerous ways in which scammers can attack your organization. So…

 As much as lending has changed in the last few years, its  fundamental tenet—putting the customer at the center of every choice—remains unchanged. Nevertheless, the last few years have brought an abundance of changes fueled by digitisation and the adoption of big data.

 Shortly after the 2008 financial crisis, a new phrase emerged, and we were quickly introduced to the thriving “Fintech” industry. When it comes to financial inclusion, the more approachable you are, the more success you will have.

Taking a Deeper Dive into the Future of Data, Decisioning and Credit Risk Solutions GDS Link is delighted to announce their new podcast, The Lending Link, is launching in September.

Significant losses can dramatically undermine a lender’s ability to remain competitive. Reducing default is business-critical — and it must start with credit decisioning.

Any organization lending money or extending credit needs a credit risk management framework to protect itself and assess credit risk. Without a framework, it’s easy to become overextended on financial obligations, putting your organization at a greater chance of finding itself in the hole.