Traditional credit models tell only part of the story. In a market where accuracy, speed, and inclusion matter more than ever, lenders need deeper insights to make smarter decisions.
Many banks and credit unions hesitate to modernize their payment infrastructure, not because they don't see the need - but because they don't see immediate ROI.
Payment fraud (i.e. unauthorized or deceptive use of stolen payment information to obtain money, goods, or services) remains a major challenge for financial institutions.
"We want to put banks in the risk management driver's seat," says Sima Gandhi, co-founder of the Council for Fintech Ecosystem Standards, which has worked with a group of fintechs to create risk and compliance standards banks can use to evaluate their fintech partners.
