Having a strong risk management team is the foundation of any successful FinTech or lending portfolio.
There are many types of risk management. Compliance, Enterprise, Infrastructure and Data risk management are so important to today’s banks and consumer-facing lending companies.
However, one often forgotten type of risk management is credit and fraud risk management. Fraud and Credit Risk management are foundations of a healthy consumer lending portfolio. It checks for early defaults and overall charge-offs.
That is to say, fraud and credit risk management govern the initial underwriting approval, pricing and line/amount assignment to new customers.
Although an internal team is massively important to be the gatekeeper of your default rates, an external workforce is always recommended as an additional resource to conduct A/B testing, champion/challenger testing and industry benchmarking.
Credit risk and fraud risk management is the foundation of some of the most successful portfolios we see today. A robust identity verification strategy and custom credit risk model scores are the standard practice if you want to launch and manage a portfolio today. We have the tools, experience and decades of benchmarked models to help you launch your portfolio today.
Risk Management is key to your success
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