#financial-inclusion

#financial-inclusion

VantageScore said the results demonstrate that rent is both a strong indicator of repayment risk and a tool for greater financial inclusion. The study analyzed the impact of this positive rental data on the renter's VantageScore 4.0 credit score. It found that adding consistent, on-time rent payments to credit files improves the predictive performance of the VantageScore 4.0 credit scoring model. The data helps to identify up to 11% more defaults in higher-risk score ranges and delivers a 3.7% increase in overall predictive accuracy.

Mitcham and Morden MP, Dame Siobhain McDonagh, has called on LINK, the operator of the UK's banking hubs, to rethink its decision that the area is ineligible for one. With the closure of Lloyds, Mitcham will lose its last remaining bank a lifeline for many local people and small businesses who rely on in-person banking, said Dame Siobhain. They shouldn't have to travel to another town just to access basic financial services.

In today's rapidly evolving financial landscape, mortgage lenders and servicers are facing intense pressure to expand access to credit while maintaining sustainable risk practices. A growing strategy to meet this challenge is the rise of fintechnonprofit partnerships. These collaborations not only open new doors for underserved borrowers but also provide lenders with scalable tools to grow and retain their customer base. The emerging trend suggests a shift from viewing underserved consumers as high-risk to seeing them as future-ready homeowners with the right support.

Ponce Bank recently celebrated 12 graduates from its Small Business Bootcamp, which is designed to equip local small business owners and aspiring entrepreneurs with the tools necessary for their growth and success. This free bootcamp reflects Ponce Bank's commitment to fostering economic opportunity, expand financial inclusion and strengthen the neighborhoods where it serves. Three graduates from the Small Business Bootcamp's four cohorts, which include the Bronx, Brooklyn, Queens, Manhattan and New Jersey, were recognized and presented with growth awards.

The transition to electronic payments exclusively aims to improve efficiency, security, and ensure beneficiaries receive their monthly benefits promptly, according to the SSA.

Digital wallets are rewriting the financial playbook with a model that is accessible, real-time, and deeply user-centric, transforming traditional banking relationships.