The team that founded marketplace lender Avant Inc. raised about $15 million to start a firm that will use blockchain technology and digital tokens to motivate companies to share data about customer identities and credit worthiness.
A former senior executive at Equifax Inc. was criminally charged for allegedly selling almost $1 million worth of shares before the company’s announcement last year that it had suffered a massive data breach.
The hunt for solid credit card customers is driving issuers to try creative new approaches, including digging deeper for good prospects who fall outside the usual parameters of U.S. credit scoring models.
Petal has received a $13 million funding round from Valar Ventures, a New York-based venture capital fund that specializes in financial technology, to use artificial intelligence to fill holes in legacy risk vetting.
Equifax Inc.’s political troubles expanded, as a top U.K. Parliament lawmaker demanded information from the company and its British regulator about the hack that exposed sensitive data for nearly 700,000 U.K. consumers.
Equifax Inc. has seen no evidence that the cyberattackers who got access to sensitive information on 145 million U.S. consumers worked for the company, former Chief Executive Officer Richard Smith said.