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A Top Technology Provider on the FinTech 100 list, Equifax, has published a white paper, “Back to the Future: The Resurgence of New Account Fraud,” which details the hidden costs of synthetic identity fraud, common fraud challenges, best practices for beefing up front-line defences, and scenarios for fighting application fraud.
IonTuition surveyed more than 400 middle managers to evaluate their perspectives on student loan assistance programs as an employee benefit. The results of the survey were clear: employers see value in helping employees manage their student debt and are willing to offer programs that lessen the financial stress.
Last week the Bank of England announced that it will be launching a fintech accelerator programme that will work with technology companies to harness fintech innovations. A survey of more than 2,000 consumers shows that 68 per cent believe that cashless technologies will completely replace physical money by 2036. The figure is higher in London where three quarters of people said they thought cash would disappear within 20 years.
Superior customer experience, speed, and ultimately cost of credit have allowed P2P lending platforms to compete for banks’ customer bases directly. P2P lending platforms are not attempting to serve a previously underserved segment of the market, but lucrative creditworthy borrowers. Alternative credit risk models are a key competitive advantage for P2P lending platforms, enabling cheaper cost of credit through more accurate default risk assessment. The more customers P2P lending platforms acquire, the more refined their credit risk models become and consequently the cheaper the cost of credit.