Author: Nikole.Thompson

Enhancing the Customer Experience While Preventing Fraud

Today, with ever-increasing rates of fraud and the rise in competitors, many face a dilemma: how to convert more customers while reducing the risk of fraud.  Additionally, providing a superior customer experience is crucial. The truth is, the more personally identifiable information available on a customer, the more likely it is to reduce risks. The […]

RIBBIT Acquires ValidiFI®, Bolstering Data, Products and Market Presence

ATLANTA, GA, MAY 31, 2023 – RIBBIT, Inc., the authority on alternative bank and payment data, today announces its acquisition of ValidiFI®, a leading provider of fraud, compliance, and risk mitigation solutions. The acquisition will create the industry’s leading banking and payment data solutions platform, improving the company’s product offering and creating the largest alternative database of bank […]

What you Need to Know About Same Day ACH to be Successful

Have you ever heard from a bank or credit card processor that Same Day ACH will not make a difference? If you’re involved in pushing payments to cards or bank accounts, especially in the gig economy, you know that real-time payments and Same Day ACH can be game-changers. So why do some banks and financial services […]

Utilizing Alternative Data for Immediate Lift

Expanding portfolios is a clear objective for many lenders. But many financial service providers struggle with the fear of associated risks. What if there was a way to grow while mitigating the increased risk? Alternative data, a tool used by many lenders, empowers financial service providers to identify and approve consumers who might have been […]

Why You Need A Lending Autofunding Strategy

Today, Americans have nearly all but shifted their buying to online. With this shift many lenders have adapted to fully digital experiences. Lenders utilizing alternative credit data as part of their autofunding strategy are staying ahead. Lenders must be in tune with today’s consumer behavior, continuously improve and adapt the user experience they deliver to […]

The Importance of a Comprehensive Fraud Detection Strategy

Fraudulent activities have become a major concern for individuals, businesses, and governments worldwide. Fraudsters constantly evolve and find new ways to deceive and steal from their targets, making it increasingly important for organizations to have robust fraud detection systems in place. Whether it’s account takeovers, bank account fraud, ACH fraud, third party fraud (also known as identity theft), […]

Bringing Visibility to the Credit Invisibles

In a time where wallets are filled with credit cards, buy now pay later options are available at the click of a button, and brick-and-mortar lenders are on every corner, yet a significant amount of the population is still considered credit invisible. The credit invisible refers to those consumers that are invisible to lenders due […]

The Small Dollar Lending Rule: Make the Most of Your Two Attempts

The Consumer Financial Protection Bureau (CFPB) originally passed the Final Rule on the Payday, Vehicle Title, and Certain High-Cost Installment Loans in 2017. The rule is also referred to as the Payday lending Rule or  Small Dollar Lending Rule. In 2020 the final rule was issued, removing the underwriting requirements but still mandating the payment provisions. The payment provisions prohibit […]

Four Crucial Benefits of Verifying Bank Account Ownership

Verifying Bank Account Ownership is more important now than ever. In today’s digital environment businesses cannot afford not to verify consumer or vendor’s bank account ownership.    Enhancing Fraud Protection Through Bank Account Ownership Validation Verifying bank account ownership with open banking capabilities has proven to be one of the most authoritative methods in reducing fraud. In the past, many […]

Why Is Account Verification Important?

With identity theft continually on the rise, bank account verification is becoming a critical asset for organizations and financial institutions alike. Bank account verification authenticates and validates bank accounts, providing a snapshot of an account to better determine its status and structure while also detecting possible fraudulent activity. Below, we explain the critical importance of […]