Credit referencing and support

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Visa partners with Pagaya to to help issuers expand access to credit

/payments

Visa partners with Pagaya to to help issuers expand access to credit

Visa has formed a strategic relationship with AI fintech Pagaya to enable its merchant and issuing bank partners to expand access to credit.

Open Banking adoption in UK lending set to hit 70% in next two years

/predictions

Open Banking adoption in UK lending set to hit 70% in next two years

A quarter of UK lenders now use Open Banking technology, with half of those that don't planning to do so in the future, according to research from Credit Kudos.

AmEx partners Nova Credit to help immigrants access credit

/retail

AmEx partners Nova Credit to help immigrants access credit

American Express has teamed up with Nova Credit to enable more newcomers to the US to use their home-country credit history to apply for its cards.

Indian credit card outfit Slice raises $220m

/startups

Indian credit card outfit Slice raises $220m

Slice, a fintech startup which offers card-based products to young Indians to help them build a better credit score, has raised $220 million in a Series B funding round that values the firm at over $1 billion.

Ant cleared to set up credit scoring JV with state-backed partners

/regulation

Ant cleared to set up credit scoring JV with state-backed partners

The People's Bank of China has given the greenlight to a new credit scoring company owned by a consortium including Ant Group and a collection of state-backed partners.

Open finance challenge winners unveiled

/startups

Open finance challenge winners unveiled

An Australian startup working to green the housing market has won a global open finance challenge run by NAB, CIBC, Itaú Unibanco and NatWest.

Mexican credit card startup Stori closes $125m Series C

/inclusion

Mexican credit card startup Stori closes $125m Series C

Stori, a Mexican fintech bringing credit cards to the country's middles class, has raised $125 million in a Series C funding round, adding another $75 million in debt financing.

Cred doubles valuation to $4 billion

/startups

Cred doubles valuation to $4 billion

Indian credit card bill payment app Cred has raised $251 million in a Series E funding round, almost doubling its valuation to $4 billion in six months.

Identity decisioning platform Alloy moves into credit underwriting

/identity

Identity decisioning platform Alloy moves into credit underwriting

Alloy, the recently named unicorn, has expanded its identity decisioning platform to include credit underwriting, with the intention of building comprehensive views of customers in line with their onboarding and transaction monitoring products.

X1 rolls out smart credit card to 350,000-strong waitlist

/startups

X1 rolls out smart credit card to 350,000-strong waitlist

X1, the challenger credit card for digital natives founded by former Twitter executives, is rolling out of private beta to a waitlist of 350,000 people.

Klarna introduces package of measures to rebuff BNPL critics

/payments

Klarna introduces package of measures to rebuff BNPL critics

Klarna is repositioning its buy now, pay later product range in the UK in response to sustained criticism of its business practices, introducing the ability for consumers to pay in full at the checkout, stronger credit and affordability checks, clear checkout language, simplified T&Cs, improved complaints handling and removal of last remaining late fees.

Microlender Tala raises $145m to move into savings and crypto

/inclusion

Microlender Tala raises $145m to move into savings and crypto

Microlender to the underbanked Tala has raised $145 million in Series E financing to fund a host of new services, including crypto.

Credit Kudos launches Open Banking credit score

/retail

Credit Kudos launches Open Banking credit score

Credit Kudos has launched Signal, an Open Banking and machine learning-based credit score that it says enables lenders to increase acceptance of previously declined customers and reduce defaults.

First National Bank of Omaha launches BNPL offering for merchants

/payments

First National Bank of Omaha launches BNPL offering for merchants

First National Bank of Omaha is joining the BNPL goldrush, launching a service which will allow merchant partners to offer their customers the option to make purchases and pay for them at a future date.

Wiserfunding scores investment; wins Revolut contract

/startups

Wiserfunding scores investment; wins Revolut contract

Wiserfunding, a London-based provider of credit risk assessment for SME lenders, has secured a £3 million investment from BGF and signed up Revolut as a client.

Credit building firm Self raises $50m

/startups

Credit building firm Self raises $50m

Self Financial, a fintech startup promising to help Americans build their credit while also saving money, has raised $50 million in a Series E funding round led by Altos Ventures.

TomoCredit raises $10m for credit-building card

/inclusion

TomoCredit raises $10m for credit-building card

TomoCredit, the US startup behind a credit card designed to help first-time borrowers build credit history, has raised $10 million in a Series A funding round led by Kapor Capital and KB Investment, a subsidiary of South Korea’s Kookmin Bank.

Monzo makes BNPL move

/payments

Monzo makes BNPL move

UK digital challenger Monzo is the latest to jump aboard the increasingly crowded buy now, pay later train.

Money.co.uk slams Klarna over BNPL versus credit card claims

/payments

Money.co.uk slams Klarna over BNPL versus credit card claims

Financial comparison site money.co.uk has launched a stinging riposte to claims from buy now, pay later firm Klarna that it offers a fairer and more equitable platform for consumer spending than credit cards.

Machine learning startup Taktile raises $4.7m

/startups

Machine learning startup Taktile raises $4.7m

Taktile, a German technology platform used by financial services companies to deploy machine learning applications, has raised $4.7 million in seed financing led by Index Ventures.

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