ST. PAUL, Minn. - (02/08/05) -- Deluxe Corp. said its DeluxeFinancial Services unit has teamed with First Data Corp.'s PrimaryPayment Systems Inc. to introduce a new service to help creditunions and banks fight fraud. Deluxe Detect, powered by EarlyWarning, is a new relationship-screening tool that allows financialinstitutions to reduce fraud at the new account desk by providingverification and reliable risk assessment in real time. Newapplicants are screened against the Early Warning databases, whichcontain public and non-public data, including contributions fromfinancial institutions and other financial services organizations.Deluxe Detect will also operate through Primary Payment Systems'Trusted Custodian model that protects financial institution datawhile rewarding the institutions with revenue sharing whencontributed information provides value to anotherinstitution.
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The parent company for crypto exchange Kraken bought the stablecoin payments fintech as it awaits a response to its national trust bank charter application.
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This data release means another milestone for the use of updated credit score models than the current FICO Classic has been met by Fannie Mae and Freddie Mac.
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The Connecticut-based bank announced its release from a formal agreement with regulators. It is pushing to expand in wealthy areas such as Beverly Hills, California, and Palm Beach, Florida.
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The fintech said that Senior Vice President of Group Finance Hwa Tsao would become the company's interim chief financial officer effective Sept. 1 following the departure of CFO Ethan Tandowsky at the end of August. Separately, Gayathri Rajan will assume the role of chief product officer, effective immediately.
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The rise in completed modifications occurred as many other loan performance indicators plateaued, and may reflect the temporary impact of recent rule changes.
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A bill setting national standards for earned wage access programs passed the House Financial Services Committee in a 29-22 vote.
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