EXCLUSIVE – #Elevate #Credit will launch a new credit #card #product that targets #subprime clients in June, for which the company has teamed up with #Mastercard. “One of the unique things about this card is that, unlike most subprime credit card products whose credit lines tend to be below $ 500, this one is significantly larger,” […]
Bank Innovation
EXCLUSIVE— #Experian #DataLabs, the innovation center for #credit bureau Experian, is #experimenting with a #voice banking #feature, Eric Haller, executive vice president and global head, Experian DataLabs, told Bank Innovation. The feature would allow consumers to make routine financial transactions using only their voice, over voice devices like Amazon’s Alexa speaker or a Google Home, […]
Bank Innovation
#Credit #unions are under pressure to become more digital. CUNA is now partnering with Microsoft to provide #sophisticated #analytics to credit unions.
Financial Technology
EXCLUSIVE— How do #credit #recommendations really work? As #services such as Credit Karma, one of the larger credit monitors, increasingly turn to artificial intelligence and machine learning to manage #customer recommendations, it’s worth considering what #data those AI engines are using to pitch loans, credit cards, or other services to their customers (especially as consumers …Read More
Bank Innovation
EXCLUSIVE- Online loan marketplace #LendingTree is going head to head (again) with #credit scoring platform Credit #Karma, with the launch of its free credit #monitoring service within its My LendingTree platform. Credit Karma has over 75 million users, while My LendingTree platform has about seven million users based on the company’s announcement. With the launch …Read More
Bank Innovation
EXCLUSIVE—#Greenlight #Financial #Technology Inc., a PFM that provides “smart debit cards” to more than 100,000 users to begin financial literacy conversations with their children, is launching a #credit #product. “We’re working on several things for 2018—what we’re doing seems to be resonating,” Greenlight CEO and co-founder Tim Sheehan told Bank Innovation. “Credit is interesting, investing …Read More
Bank Innovation
Transactions:
Partnership Renewals:
New Partnerships:
New Products/Features:
Mobile & Tech:
1 Total receivables for non-retail issuers at end of 4Q17. 2 Total purchase volume of non-retail issuers in 4Q17. 3 After-Tax ROA excludes Wells Fargo, Chase, Bank of America and US Bank, which do not report credit specific income. 4 YoY = Year-over-year change versus 4Q16. 5 QoQ = Quarter-over-quarter change versus 3Q17. Note: PV is reported PV for the quarter (it is not annualized or TTM)
1 Chase no longer discloses an ROA measure directly attributable to Card Services. 2 Citi: Purchase volume includes cash advances. 3 Capital One: U.S. card business, small business, installment loans only. Purchase volume excludes cash advances. 4 Bank of America: Receivables, purchase volume and net loss rates are for U.S. consumer cards. ROA estimate is discontinued. 5 Discover: includes U.S. domestic receivables and purchase volumes only. Restated: ROA reflective of Direct Banking segment (credit card represents ~80% of loans) and implied U.S. Cards tax rate of ~40%. ROA denominator estimated from total loans ended totals. 6 American Express: Changed reporting method as of 1Q16. Figures are for U.S. Consumer segment only and exclude small business. 7 US Bank: Net Income attributable to Payments Services totaled $ 309M as of 4Q17, compared to $ 322M in 4Q16; Payments Services includes revenue from consumer credit cards, as well as commercial revenue and other sources. 8 A/R and PV for Retail Card unit only. 9 Loss rates and ROA include all of SYF’s business lines (i.e., Retail Card, Payment Solutions, and CareCredit). Retail Card accounts for about 70% of total receivables. 10 Average Receivables.
The post Q4 2017: U.S. credit card issuer snapshot appeared first on Accenture Banking Blog.
EXCLUSIVE — #Cryptocurrency exchange #Coinbase and payment processor #Visa are blaming each other for reversed or duplicated cryptocurrency purchases with #credit and debit cards, it was reported today. Today’s news comes after multiple Coinbase customers raised concerns #over such transactions and additional fees, prompting Coinbase to respond with this statement claiming “a number of major credit card […]
Bank Innovation
EXCLUSIVE – It’s #Credit #Karma’s second tax season as a tax prep/#filing company, and already about 3 million people have started using Credit Karma Tax, according to Jagjit Chawla, general manager of Credit Karma Tax. That number is three times the 1 million filers in the company’s last tax season. “It’s important to remember though, […]
Bank Innovation
EXCLUSIVE— Alternatives to the traditional #FICO #credit score have become a popular theme for emerging fintechs, but will it actually help consumers #improve their credit? Credit solutions provider #Elevate, however, will #focus on improving its customer’s relationship with their FICO score in 2018 as well as on alternative methods of scoring. “Consumers are more focused […]
Bank Innovation
Reply