Zain Razvi

Class is in Session: Cash Flow Solutions 101 with Mrs. Villarreal, Your Queen of Cash Flow! Okay, it's a bit cheesy but funny, right? Haha! Thanks Carlos Vides for allowing me to share with your team members how PLEX Capital LLC can help your customers boost their cash flow. #businessinsurance #businessfunding #kcsmallbusinesses

29

Synthetic Identity Fraud is Skyrocketing—Is Your Credit Prequalification Process Secure? The 400% rise in synthetic identity fraud reported by Capital One is a stark reminder of the challenges auto lenders face today. One possible contributor to this surge could be the “Get Prequalified” calls-to-action (CTAs) on dealer websites, which may inadvertently open the door to fraudulent applications. Addressing this issue early in the loan process is critical, and that's where solutions like VeriQual™ step in. By verifying identity right at the credit prequalification stage—using just a phone number—patent-pending VeriQual helps lenders and dealers identify potential fraud before it becomes a costly problem. Integrating identity verification with soft-pull credit prequalification ensures that only legitimate applicants move forward, reducing risk while enhancing the customer experience. In an era of increasing fraud threats, implementing secure, streamlined tools like VeriQual can make all the difference. Lenders need to take a more proactive role in helping dealers combat fraud, as they face greater potential losses and compliance exposures if synthetic fraud goes unchecked. VeriQual info here: https://lnkd.in/g8u9tK_C How is your team handling the rise in synthetic identity fraud? #AutoFinance #FraudPrevention #SyntheticFraud #VeriQual #IdentityVerification #RiskManagement

13

2 Comments

Another successful transaction completed by Benchmark International! Learn more about how we helped Quotient, Inc. and Virtual Technologies Group achieve their goals. https://lnkd.in/eUmc7jUN #BenchmarkInternational #SellSide #StrategicSeller #DealCompletion #MakeADeal #Success #Mergers #Acquisitions #BenchmarkSuccess #MergersAndAcquisitions 

4

I give a quick economic update on the Equifax Market Pulse podcast. https://lnkd.in/eB4SEuGY

10

Borrower consent mandates his/ her bank, utility provider and cooperative must share data to a new lender to take a decision. While the data flows may have different velocities owing to the readiness of each institution, over time this will feed into a real-time risk API. The lender's LOS today is configurable to act on whichever borrower category/ market it is targeting. We can bring in additional inputs tied to performance of borrowers in different weather scenarios. For example, we have conceptualized an index for future values of vulnerable assets. Inputs from updated local economy data are needed to add granularity. With the above, Open Banking and advanced LOS systems can work together to deliver higher levels of credit across a broader base. As more segments of borrowers become vulnerable to extreme weather events, growth forecasts need to incorporate future event impact. In other words, how can growth be achieved beyond just responsive resilience to floods, storms, etc. That's the operating reality we have to work with. It will lead to new credit product concepts. Open Banking holds the key to contextual data that will drive all the above. It also changes the relationship between the account holder and his/ her bank. A well-thought consent framework and participation in that framework are the first steps. #openbanking #lending #AI #climatechange #Asia

1

5 Comments

With the increasing integration of blockchain technology in property transactions, as highlighted in the examples from Texas, Florida, and Kentucky, it's clear that this emerging trend has the potential to reshape how we think about buying and selling real estate. Where do you see the future of cryptocurrency in real estate acquisition and beyond? #blockchain #crypto #bitcoin #realestate AllTech National Title https://lnkd.in/gravHXyZ

6

Axiom Bank in Miami, FL was served a consent order yesterday from the Office of the Comptroller of the Currency. Axiom Bank is another community bank involved in #BaaS. Among traditional banking, they are in the debit and pre-paid card issuing space, as well as merchant processing. There are a few things that stand out that I note below, but most of what is outlined by the OCC we have seen in a host of other bank orders. So, I will stick with the unconventional aspects: 1) It is frustrating that the regulatory material cited in the order is old… meaning, they are telling this #bank (and others) to fix certain issues and having them refer to almost decades old guidance. This is a sign of what is the biggest problem plaguing responsible innovation. We have decades old (in some cases 50 years) requirements and guidance that has never been updated to fit the current state, much less prepare us for future state. We cannot keep citing outdated, in some cases, ill-fitting guidance and expect to get good results. Our regulatory framework needs CPR now. Exactly what I’ll be addressing at the J5 next week. Part of responsible innovation for #fintechs comes from clear and forward-thinking regulatory frameworks. 2) “adhered to by Bank staff” and "staff comply"... seems like our screening process Hyper-S Research could help detect effective #financialcrimes investigators. 3) Specifically, a good reminder for all non-big banks when it comes to reliance upon an #AML system – there are other depts or processes outside of what gets fed to the AML system that must be incorporated into your “suspicious activity monitoring program”. We often include this in our validation scope, as FIs are sorely missing out on key data and access and should have some type of monitoring that most AML systems cannot address. Looking at you commercial lending, wealth mgmt., wholly owned mortgage co subs, etc. 4) Noted in recent orders, validations MUST include the customer risk rating criteria! 5) TPRM expectations, if you haven’t started operationalizing the somewhat vague guidance docs, look at pgs. 18-19 for your starting point. 6) “The Board shall review/assess the effectiveness of….” fill-in the blank. Again, how will these Board members review the effectiveness of these various elements when not a single Board member has AML experience? Same question I asked for the #TDBank of the world. The way in which bank Boards are put together needs a major overhaul. Receiving 30 minutes of training once a year does not make an informed, educated, connected or effective Board. Our board advocacy groups, staffing, and publications *MUST* do better. AML and #sanctions training cannot be an afterthought in any type of conference or publication. #ifollowdirtymoney

179

22 Comments

🎤 MIC DROP! “Since we started this dance together, we’ve taken our costs for verifications from 8 basis points per loan down to 3 basis points per loan.” 🔥 Femi Ayi, Revolution Mortgage 🔥 (https://lnkd.in/e5Ca2YkW - just this clip) As you can see, we had an amazing event with one of our best customers, Femi Ayi, as well as Brooke S., and Jodi Eberhardt, on this week’s Mortgage Bankers Association webinar: “Minimizing Risks with GSE Borrower Verifications”. This is THE event to watch if you're using a consumer-permissioned verifications provider and want to get more from the service, or thinking about using one. Femi, Brooke, and Jodi broke everything down that you need to know in a real world example of a lender (Revolution) using a CPP (Truv) with great success. Here's what we covered: ●    Defined what it means to be an authorized supplier for Freddie Mac's AIM solution and Fannie Mae’s DU® validation service ●    Detailed how new consumer-permissioned verification technologies can save lenders up to $350 per loan ●    Explained how automated income and employment verifications can help lenders increase pull-through rates and close loans faster ●    Provided steps lenders can use to improve loan quality by leveraging real-time data directly from the source Check out the full webinar here: https://lnkd.in/esavg7Kt

21

1 Comment

Are you a private lender and trying to understand how did the rate cuts affect bridge/fix and flip/construction/RTL loan interest rates? (shhhhh they didn't) How did they affect the interest rates of DSCR loans? (the EXPECTATION of rate cuts already did) We combed through tens of thousands of loan transactions on Lightning Docs to provide the real time data to understand. Detailed video below providing specific insights into both markets.

32

1 Comment

It seems like our money can move as fast as a text message, so why are bank transactions so slow? Our LinkedIn messages zip across the globe instantly, but our bank transfers can takes days. The average ACH transfer takes 3-5 business days due to its batch processing system from the 70s, multiple verification steps, middlemen, and non-operational weekends and holidays. In contrast, blockchain technology allows for real-time, peer-to-peer transactions without intermediaries, operating 24/7. Companies such as Shield build on top of the technology to enable regulated levels of compliance, multiple verification steps, and modern batch processing. Next time you're waiting a long time on a transfer, remember: there's a faster, more efficient ways available.

2

The The Wall Street Journal recently ran a great article about the increasing aversion from merchants to cash payments and the rise of “reverse atms” and providers like PayNearMe to address the desire to push cash from registers and bill payment. This trend uncorks a whole lot of policy debate given that cash usage is negatively correlated with income and a bastion of the underbanked. Here’s my take: I do NOT want a cashless society but in a free market I think it’s okay for merchants to design their payment preferences and charge commercially reasonable fees for the friction cash presents in operations. It’s a slippery slope to the privacy of cash going away so I would like to see a “Maginot Line” from that perspective. Tony DeSanctis , Ron Shevlin , Anne Arvia and Brandi Gregory - what do you think makes sense here? #payments #cashlesssociety #smarterbank

35

6 Comments

🌟 Attention #Importers of #Nostalgia #Products in the #US! 🌟 Are you looking to #streamline your #payments to #suppliers in #LatinAmerica and ensure timely payments from your #DSD? Drip Capital's supplier financing line can be your solution! The growth of the Hispanic market in the United States is highly significant. The continuous increase in migrants from our home countries represents a market niche that constantly demands products of Mexican origin. This segment is known as the "Nostalgia Market." This concept refers to the consumption habits of those who cling to their roots when they are far from their country of origin and do everything possible to consume the products they knew in their childhood. This group of products includes #food, #beverages, #crafts, and #gifts, among others. The #potential #consumer #market consists of the entire #Hispanic population residing in the US. The states with the highest Hispanic population are #California, #Texas, #Florida, #Arizona, #NewMexico, #NewYork, #NewJersey, and #Illinois. These eight states contain three-quarters (74%) of the nation's Latino population. The nostalgia market represents an opportunity for micro, small, and medium family businesses to expand their market, increase their profits, diversify risks, and explore new markets. The concentration of Hispanics in the state of Arizona symbolizes a constant business opportunity for family businesses, as there are companies capable of supplying the market in small quantities. If you're an importer of these nostalgic products, Drip Capital can help you obtain the benefit of a line to pay your suppliers in Latin America with our supplier financing line. Additionally, we offer the possibility to qualify all your DSD through a specific program, ensuring timely payments. Expand your business and ensure smooth operations with Drip Capital! 📞 Contact us Daniel Moran today to learn more about how we can support your business growth. #Importers #NostalgiaProducts #HispanicMarket #SupplierFinancing #DripCapital #BusinessGrowth #LatinAmerica #DSD #FamilyBusiness #MarketExpansion

1

CFPB: Banks have been getting a pass on privacy regs... Financial institutions are monetizing consumer data, selling our income, expenses, and balances to third parties. Current Fed protections (Graham Leach, FCRA) don't address new tactics. 💡State laws might fix, if they stop with the GLBA etc exemptions... Banks do give consumers notice, and some painful opportunities to opt out, but only a minuscule percentage are taking them up on it, because they don't understand the privacy threat. Consumer Financial Protection Bureau Report: https://lnkd.in/ezhEWv66 Sheppard Mullin Richter & Hampton LLP Summary: https://lnkd.in/eFGJp3qq #banking #dataprivacy #cfpb #glba #fcra #fintech #consumerrights #privacylaws #financialprivacy

43

17 Comments

Five and Two Services, an Aspire Partners USA Partner focused on automating and monetizing payments for businesses like yours. We provide a range of Commercial Payment Services to enhance your financial operations: - **Payment Processing**: Accept various payment methods, including credit/debit cards and eCheck payments. - **Bill Payment Automation**: Schedule bill payments to optimize cash flow. - **Account Payables**: Streamline your payables for timely financial closures. - **Spend Limits**: Manage budgets with tailored spend limits. - **Expense Management**: Automate expense management while ensuring policy compliance. Our services can greatly enhance your payment processing and operational efficiency. I’d love to discuss how we can assist your business further. Additionally, we offer financing solutions through ROK Financial for small and medium-sized businesses, whether it’s equipment loans or lines of credit. If you’re facing challenges with traditional funding, we’re here to help. If you’re interested, I can guide you through our process. Just send me a message letting me know what you are interested in, and I’ll send a brief questionnaire to better understand your needs.

2

A reminder that the people who supports your business are important beyond the revenue. It’s a two-way relationship. We are not colonizers and opportunists. #startup #entrepreneur #payments #networking #fintech #belize #fundraising #caribbean

12

5 Comments

The recent Alloy study highlights a significant challenge FI's, with nearly 60% of banks, fintechs, and credit unions experiencing over $500K in direct fraud losses in 2023. Chargeback, Check, and ACH fraud represent a substantial portion of this financial crime. Financial institutions are increasingly turning to technology solutions like FusionDMS from FIntegrate Technology to streamline and automate the dispute resolution process. By implementing such systems, organizations can not only track and analyze the sources of fraud and work the disputes more effectively but also intervene earlier to prevent chargebacks. This proactive approach not only mitigates the risk of fraud but also translates into considerable cost savings, as it reduces the amount of money lost to fraudulent activities. Investing in advanced workflow and automation system for dispute management and prevention is essential for financial institutions to protect their assets and maintain customer trust in an era where digital transactions and fraud are ever-increasing. #CommunityBanking, #disputemanagement

29

1 Comment

ACH volume will only continue to grow as the digitization of payments continues. With it will come the need to validate identity, availability of funds, and risk. B2B payments, which has over $54T and 6.6B individual ACH transactions growing number of transactions by over 10% in a year is insane. 47% growth in same day ACH illustrating the shift to faster payments is another huge stat.

43

2 Comments

How safe is your telephone system? Not very, according to the CFPB (Consumer Financial Protection Bureau), which recently issued an official memo to its staff advising them not to use cell phones or text messaging for official business--even cell phones that were issued precisely for the purpose of official business. Why? In the wake of the #ChineseSaltTyphoon attack into telecom infrastructure, the CFPB has determined that cell phone networks, including but not necessarily limited to AT&T and Verizon, have been compromised. The agency recommends that folks use, instead, videoconferencing systems "such as" Microsoft Teams and Cisco Webex. (No word on Zoom but the "such as" wording leaves open the possibility that it, too, may be preferable.) This is a fairly explosive policy, and the implications for #finserve organizations and other organizations dealing with confidential data are profound, given the ubiquity of cell phone usage. Not to pour gasoline on the fire, it's worth noting that while videoconferencing solutions such as the ones noted do, in fact, provide encryption, the US government issued a finding a few months back that any data relying on encryption that's not using quantum-safe algorithms is potentially at risk. In other words: Even if you DO use encrypted videoconferencing, the sensitive data may be captured and later decrypted using quantum computers--with "later" being as early as 2026. So unless your vendors are using quantum-proof encryption algorithms, your data may still be at risk. The bottom line: Assume infrastructure has been compromised, and if your confidential data will still be relevant in a year or two, plan to use the National Institute of Standards and Technology (NIST) quantum-proof algorithms to protect it. For more on this topic, check out the #FinServTechOracles episode in which Jerry and I discuss the issue (link below).

21

2 Comments