Increase approvals while reducing losses

In this video interview filmed during Money 2020 in Las Vegas, Scott Brown, group president of financial and marketing services, sits down with Fintech Futures’ North America Correspondent Heather Sugg to share how Experian is bringing together the world of data, analytics and software to help modernize the financial services industry.

As published on the Business Information blog in a post titled Fintechs Transforming Financing and Growth -  the fintech industry has grown by 140% since 2018, with North America leading at 34% of global market share. This video recaps some of our research including:

• North American Dominance: North America accounts for over 34% of the global fintech market, making it a key player in the industry’s expansion.
• Innovative Solutions: Fintech companies have transformed traditional financial services with digital solutions in areas like payments, lending, personal finance, and investment management—led by apps like Venmo, Cash App, and Apple Pay.
• Increased Credit Activity: Businesses using fintech financing are 270% more credit-active than those relying on traditional financing, with higher inquiries, trades, credit lines, and balances.
• Higher Risk: Despite increased access to capital, fintech-financed businesses exhibit higher delinquency rates and lower credit scores, presenting added risks for lenders.

Check out the full report to see how these trends could impact your strategy!

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Host, Josee Farmer, is joined by Tara Walton, Sabrina Partlow and Kendall Hellman to discuss how incoming rate cuts will affect fintechs, regional and national banks through the rest of this year and next, in this in-studio episode.

Our expert panel discusses the critical questions addressing machine learning in credit risk and key findings for best practices for building, fine-tuning and deploying robust and effective ML models.