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New Q3 2017 TransUnion Industry Insights Report Reveals Latest Consumer Credit Trends

As Black Friday Nears, a Record 196 Million Consumers Now Have Access to Various Forms of Credit Cards and Other Revolving Lines of Credit New Q3 2017 TransUnion Industry Insights Report reveals latest consumer credit trends With the holiday shopping season officially kicking off during Black Friday next week, TransUnion’s (NYSE: TRU) just released Q3 2017 Industry Insights Report found that ... Read More »

Ant Financial, Ayala Corp. to Invest in Globe Telecom’s Mynt

Alipay’s technology to upgrade payment experience for local users of Mynt’s GCash The Philippine mobile operator Globe Telecom announced that Ant Financial Services Group, one of the world’s leading digital financial services providers, has entered into a strategic partnership with Globe Fintech Innovations, Inc. (Mynt), a wholly-owned subsidiary of Globe Capital Venture Holdings (GCVHI) under Globe Telecom, and Ayala Corporation, one ... Read More »

TransUnion Expands Credit Access to More Americans with Acquisition of FactorTrust

TransUnion (NYSE: TRU) announced the acquisition of FactorTrust, a provider of alternative credit data, analytics and risk scoring information that empowers lenders to make more informed decisions, and increases financial inclusion to a wider population of consumers. The acquisition reinforces TransUnion’s position as a provider of consumer reporting models that capture a wide range of positive payment behaviors. The addition ... Read More »

The US$5.2 Trillion MSME Finance Gap

The International Finance Corporation (World Bank Group) has published its latest assessment of the shortfalls and opportunities in financing micro, small and medium enterprises in emerging markets.  According to this assessment the potential demand for MSME Finance is US$8.9 Trillion compared to the current credit supply of US$3.7 Trillion.  This leaves a finance gap of US$5.2 Trillion.  The report can ... Read More »

Cambodia: CBC’s Commercial Credit Reporting to be Ready by 2018

The Credit Bureau Cambodia (CBC) – a provider of credit information and other credit reporting services – is developing commercial credit reporting to allow CBC members access to the credit history of commercial enterprises. To date, the CBC has only produced consumer credit reports, which give the personal credit history of individual borrowers.  The new product will make it easier ... Read More »

FICO India:  New FICO Credit Scores Provide Lenders Opportunity to Expand Access to Credit in India for Nearly 350 Million

FICO® Score for India and the new FICO® Score X Data for India use new data and platforms to evaluate risk across credit bureaus and establish a path to credit access According to The World Bank, nearly 350 million adults in India have no access to mainstream lending opportunities due to insufficient data. FICO® Score for India, which uses data ... Read More »

MAS and HKMA Joined Hands to Promote FINTECH Growth and Innovation

New Developments Helping Trade Finance, Small Businesses The Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA) signed a cooperation agreement on fintech this week in Hong Kong. The first initiative is a project based on distributed ledger technology (DLT) to help facilitate trade finance cross-border infrastructure. Additional details are expected to be announced in November, said ... Read More »

Asian Development Survey Suggests Fintech, Digitization Still Not Significantly Impacting Trade Finance Gap

Banks and companies in the trade finance sector are increasingly using digital solutions to address companies’ significant and unmet financing needs. Yet the global trade finance gap—estimated at $1.5 trillion, with approximately 40% originating in Asia and the Pacific—persists in a stable state, with emerging economies and small- and mid-size enterprises (SME) bearing the brunt of financing shortfalls. More than ... Read More »

TransUnion Hong Kong Debunks Common Credit Card Myths

A recent survey by TransUnion (NYSE: TRU) revealed most Hong Kongers act responsibly when it comes to credit card repayment habits, yet are still confused about credit basics.  The survey found Hong Kongers act responsibly when it comes to managing their credit cards and understand how those accounts affect their credit. In fact, more than two-thirds (67 percent) correctly reported ... Read More »

SME Lending: Credibly Continues Growth with $500M Origination Milestone, BizFi Portfolio

Credibly’s products rely on data science and machine learning Leading “fin-data” SMB lender Credibly will now be servicing the portfolio of competitor lender BizFi, adding BizFi’s $250 million portfolio and 5,200 merchants to its platform.  Along with the BizFi decision, Credibly also announced today that it has hit $500 million in originations to tens of thousand of SMBs, a milestone for the company ... Read More »

India’s Supreme Court Rules that Privacy is a Fundamental Right for Citizens

India’s universal identification program — Aadhaar — suffered a setback today after the country’s Supreme Court voted unanimously in favor of individual privacy. Given the prevalence of data in today’s digital age, and the trend towards ‘smart living’ based on data, the ruling has the potential to be hugely impactful in India both now and in the future. The landmark ... Read More »

US Credit Climate: Small-Business Optimism Heads for Record Levels

A surge in capital spending and high sales expectations have caused a streak of historically high performances dating back to November to continue in the Index of Small Business Optimism from the National Federation of Independent Business (NFIB).  The percentage of small-business owners who plan to make capital expenditures in the near term is at its highest level since 2006. ... Read More »

Creditinfo Registr – Next Generation Credit Bureau in the Czech Republic

Thousands of credit records have started to flow into the Creditinfo Registr – CRKI, a new next generation credit bureau in the Czech Republic, led by Tesa Vitelj, Managing Director Recently 14 microfinance institutions joined Creditinfo Registr as Early Adopters and the bureau holds records on more than 50 000 contracts and 40 000 individuals.  This number is rapidly increasing, as more ... Read More »

Equifax India, IFC Partner to Provide Credit Data on SHGs

Credit information company Equifax India signed an agreement with International Financial Corporation (IFC) to deepen coverage of self-help group (SHG) member data in credit bureaus. The agreement will promote financial inclusion and access to funds for women from lower income groups by facilitating integration of SHG borrower data with credit bureaus. “The initiative will increase the number of borrower profiles ... Read More »

ID Analytics’ Study Finds Use of Alternative Credit Scoring Can Increase Financial Inclusion

Study Finds Lenders Using Only Traditional Credit Scores Are Turning Away Credit-Worthy Consumers A new study released today by ID Analytics LLC, a leader in consumer risk management, finds that using alternative credit scores for safe lending can dramatically increase the number of individuals that are considered eligible for credit. Through the use of alternative scores, lenders are able to ... Read More »