The credit giant is adding advanced analytics to further assist lenders in managing their risk profiles while adding expanded credit models for small business loans and credit-card lines.
Our next guest on the Fintech One-on-One podcast is Steve Smith, the CEO, and co-founder of Finicity. Finicity has been a real pioneer in the open banking space, or as Steve likes to call it an open financial data network, which is probably more accurate.
Mastercard said today that is acquiring Finicity, a leader in real-time access to financial data, for $825 million; there is...
In TearSheet’s recent podcast they discussed the growth of data aggregation in the financial services; data aggregation has become one...
Experian has partnered with Finicity to launch Digital Verification Solutions, a service that leverages Finicity's technology to connect with financial institutions for verifying income and assets; Experian is the first credit bureau to offer this type of solution; in addition to offering an enhanced service, the solution is also intended to help lenders broaden their credit underwriting for thin file borrowers; Finicity is also working with other lenders to help improve verification processes and shorten the end-to-end processing time for lending. Source
Mastercard launched a set of open banking tools through Finicity, enabling b2c transactors to check user accounts before requesting an ACH.
In American Banker Penny Crosman considers Mastercard’s recent announcement of the acquisition of Finicity and Visa’s acquisition of Plaid; if...
With their recent acquisition of Credit Karma still fresh in everyone’s minds Intuit is rumored to be eyeing more fintechs;...
From the deal, Finicity will gain data sharing access to Wells Fargo's customer data for its clients which include personal financial management providers and online lenders; the deal is one of many currently underway for Wells Fargo and Finicity as well as numerous other market participants; overall, market consensus from American Banker shows less tension between banks and third party providers with companies such as Intuit reporting an increased interest from all parties involved in improving the experience for customers; American Banker also notes that as data sharing becomes more prevalent there's likely to be an evolution of technology that helps facilitate the connectivity. Source