Tag: Credit Risk

Revolutionizing Credit Unions: How ValidiFI’s Risk Management Tools are Changing the Game

As we cautiously wade through 2023, credit risk remains a top concern for financial institutions, particularly credit unions. Revolutionizing Credit Unions Credit unions are financial institutions that provide services such as loans, savings accounts, and checking accounts. These institutions operate on a not-for-profit basis, which allows them to offer more favorable rates and fees compared […]

Elevating Bank Account Validation and Risk Assessment to New Heights

Here at ValidiFI®, we’ve been diligently enhancing and expanding our predictive bank account and payment intelligence offerings to better serve your ever-evolving compliance, bank account validation, fraud, and credit risk needs. Introducing ValidiFI Solution Offerings: Predictive Bank Account and Payment Intelligence Solutions vIndex: Identify High and Low-Risk Financial Institutions. vAccount: Streamlined Bank Account Validation for […]

Navigating the Financial Terrain of 2024: Trends, Challenges, and Opportunities

As we navigate the financial terrain of 2024, economic volatility has become the standard. Here are some trends, challenges and opportunities to consider. US consumer financial metrics are reaching All-Time Highs across various categories. Trends reflecting the dynamic state of the economy According to the FDIC, a record-high 95% of Americans now have access to a bank […]

What’s Conversion Got to Do with It? Converting the Maximum Amount of Leads

When you add up the high costs to assess the risk of applicants, with lead purchasing becoming more competitive and the quality of leads becoming harder to verify with traditional methods, the financial returns are often outweighed. In fact, the odds are likely that you’re spending too much on poor-performing leads. Too often we see […]

ValidiFI Relaunches with Its’ Industry-Leading Offering of Credit Risk and Validation Solutions

ATLANTA, GA, July 5, 2023 – Today, ValidiFI, announces its official relaunch following its acquisition by RIBBIT in June 2023. Moving forward, the combined company will operate under the ValidiFI name and branding, serving a broader range of industries and customers.  This strategic combination has now created one of the industry’s largest alternative databases of bank and […]

Utilizing Alternative Data for Immediate Lift

Expanding portfolios is a clear objective for many lenders. But many financial service providers struggle with the fear of associated risks. What if there was a way to grow while mitigating the increased risk? Alternative data, a tool used by many lenders, empowers financial service providers to identify and approve consumers who might have been […]

Why You Need A Lending Autofunding Strategy

Today, Americans have nearly all but shifted their buying to online. With this shift many lenders have adapted to fully digital experiences. Lenders utilizing alternative credit data as part of their autofunding strategy are staying ahead. Lenders must be in tune with today’s consumer behavior, continuously improve and adapt the user experience they deliver to […]

Bringing Visibility to the Credit Invisibles

In a time where wallets are filled with credit cards, buy now pay later options are available at the click of a button, and brick-and-mortar lenders are on every corner, yet a significant amount of the population is still considered credit invisible. The credit invisible refers to those consumers that are invisible to lenders due […]

The Small Dollar Lending Rule: Make the Most of Your Two Attempts

The Consumer Financial Protection Bureau (CFPB) originally passed the Final Rule on the Payday, Vehicle Title, and Certain High-Cost Installment Loans in 2017. The rule is also referred to as the Payday lending Rule or  Small Dollar Lending Rule. In 2020 the final rule was issued, removing the underwriting requirements but still mandating the payment provisions. The payment provisions prohibit […]

Assessing Credit Risk: The Five-Step Risk Management Process

In the world of finance, prioritizing risk management is crucial. The evaluation of risk involves identifying potential hazards, how likely they are to happen, and how you can best prevent them. When lenders are evaluating the risk associated with credit, the ultimate goal is to see how likely it is that the consumer will repay […]