Resources

Fraud prevention is a critical component for lenders looking to mitigate risk and protect their businesses and borrowers. With the rise of digital lending, fraudsters have evolved and are using increasingly sophisticated methods to carry out their schemes.

The lending industry has undergone significant changes in recent years, particularly concerning fraud prevention. In this episode of The Lending Link, host Rich Alterman is joined by Frank McKenna, Chief Fraud Specialist for Point Predictive, to discuss these changes and the turning points that led to them. With over two decades of experience in the…

 Investment banking can seem like a complex and mysterious industry, but in this episode of The Lending Link, our host Rich Alterman sits down with Tom McDermott, the Managing Director at Cambridge Wilkinson, to shed light on the inner workings of investment banking. With over 25 years of experience in the industry, Tom offers…

Fraud is an ever-growing problem that businesses face, costing them billions of dollars every year. To combat this issue, many companies are turning to artificial intelligence (AI) and machine learning (ML) to improve their fraud detection capabilities.

In today’s uncertain economic climate, credit unions need to employ various strategies to maintain and increase their deposit base. These financial institutions are not only competing with other credit unions but also with traditional banks and online financial institutions. Therefore, credit unions must be innovative and proactive to retain their current members and attract new…

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…