Post Tagged with: "risk"

Loan Volume at Elevate, Alt-Subprime Startup, Hits $442 Million

Loan Volume at Elevate, Alt-Subprime Startup, Hits $442 Million

by February 10, 2015 at 12:30 pm 0 comments

Welcome to the newest innovation sector: alternative subprime lending. Fort Worth, Texas-based Elevate appears to be leading the charge in this new sector, announcing today that its total loan originations has hit $442 million. Elevate launched in 2014 and offers three products: RISE, a personal loan, Elastic, a paycheck advance, andRead More

Risk, Compliance Top Concerns for Bitcoin Startups

Risk, Compliance Top Concerns for Bitcoin Startups

by April 8, 2014 at 3:58 pm 0 comments

It’s no longer the Wild West for virtual currency startups — all 2,000 of them. The regulators (and tax collectors) have virtual currencies in their cross-hairs, and the startups must learn to operate in a regulated space. There is tension in the bitcoin community over compliance. There will always beRead More

A New Warning That Employees’ Social Media Use Exposes Banks to Risks

A New Warning That Employees’ Social Media Use Exposes Banks to Risks

by June 21, 2013 at 10:48 am 2 comments

At a time when many banks are finally easing up their social media policies for employees, at least one security firm is warning that the social media profiles of bank staffers are providing valuable information to those seeking to do banks harm. Bank websites are well-protected from attempts to breakRead More

Call Centers Are Weak Links for Compliance as Well as Security

Call Centers Are Weak Links for Compliance as Well as Security

by March 12, 2013 at 2:52 pm 0 comments

Call centers have become targets for fraudsters and identity thieves, and now regulators have them in their sights as well. Consider a loan origination and the amount of disclosures that must be presented to a customer. This may be easily accomplished in a paper environment, as well as online andRead More

Payments Startup Affirm Takes on Risk to Bring One-Click Shopping to Mobile

Payments Startup Affirm Takes on Risk to Bring One-Click Shopping to Mobile

by February 28, 2013 at 10:48 am 1 comment

PayPal co-founder Max Levchin launched a new payments company called Affirm this week. Described as an online “charge card” along the lines of American Express, Affirm will cover consumer purchases for 30 days. Using social media data, as well as other sources yet to be identified, Affirm will take onRead More

Feds Inch Closer to Clearer Understanding of Financial Risk

Feds Inch Closer to Clearer Understanding of Financial Risk

by January 14, 2013 at 9:27 am 0 comments

Federal regulators have begun exploring a new method of financial modeling, called agent-based modeling, which inches them closer to an optimal understanding of the true risk within the banking sector. The only thing is that agent-based modeling still doesn’t address the core problem within a financial crisis: disorderly liquidation ofRead More

As Fraud Increases, Call Centers Become Key Security Battleground for Banks

As Fraud Increases, Call Centers Become Key Security Battleground for Banks

by January 9, 2013 at 9:57 am 2 comments

Fraud is just a phone call away for most banks today. In a shift, call centers have become the weakest link in banks’ security chains, rather than online banking platforms, according to experts. “It used to be easiest for criminals to fraudulently access accounts online,” says Ben Knieff, head ofRead More

Why Mobile Wallet Will Win

Why Mobile Wallet Will Win

by December 11, 2012 at 9:28 am 1 comment

“Mobile wallet will not happen just because you can pay with your phone. It will happen when the value-add far exceeds what is available with plastic, and there is an end-to-end integrated checkout process.” That is how Schwark Satyavolu, CEO of Truaxis, now a Mastercard company, put it. We agree.Read More

Visibility and Control: The Liquidity Management Mantra

by November 29, 2012 at 3:35 pm 0 comments

Liquidity has moved further and further up banking executives’ agendas thanks to the growing industry focus as well as regulatory demands for more liquidity to be available in banks. Following the 2008 crash, liquidity has established itself as a risk concern for banks like never before – the failure ofRead More

Top Insurers with Exposure to Hurricane Sandy

Top Insurers with Exposure to Hurricane Sandy

by October 30, 2012 at 11:09 am 0 comments

At least one catastrophe modeling firm, according to SNL, has already begun to place a dollar figure on the potential damages from Hurricane Sandy. In an estimate published yesterday, EQECAT predicted $5 billion to $10 billion in insured losses along the East Coast, based on economic damages of between $10Read More