Discover Financial reported last week that credit-card loans were down 9% for the year ending Jan. 31, 2021, reports Crain's Chicago Business. Meanwhile, Affirm, a leader in installment lending, announced a debit card with BNPL features to make the increasingly popular financing method easier to use at retail point-of-sale, according to PaymentsSource. "The trend eats away … [Read more...] about Buy Now, Pay Later Eats Credit Card Profits
Credit-RIsk
Credit-Card Fraud Detection: Customer Experience Rules
Excellent customer experience requires better credit-card fraud-detection tools for international and domestic travel bookings Of the many areas in financial services that could benefit from machine learning, credit-card fraud detection must be high on the list. Last year, card fraud reached $9.37 billion in the United States (36% of the global total) and is expected to … [Read more...] about Credit-Card Fraud Detection: Customer Experience Rules
Legacy Challenges
FINTECH ARTICLES OF THE WEEK 09/20/17 As a follow up to last week's newsletter, Breached, the Equifax breach likely will have regulatory effects on FinTech that go beyond the credit-scoring business itself. In an ironic but not unsurprising development, legacy institutions questioned new technologies in relationship to legacy problems. Last week's Senate Banking hearing on … [Read more...] about Legacy Challenges