FICO Blog

APRIL 12, 2023

We also recognize that our scores serve many different purposes. And while some of our clients’ business lines benefit from the very latest innovations, others such as mortgage continue to find that older versions of the FICO® Score – even some that were first developed decades ago – meet their needs for credit risk assessment.

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Know-It Global

MARCH 21, 2023

A business credit report is a powerful tool at your disposal that will allow you to get a glimpse into the financial shape of your customers, helping you make smarter credit decisions. The key metric displayed on a business credit report is a business credit score. Get Your Free Business Credit Report!

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FICO Blog

FEBRUARY 7, 2023

Home Blog FICO Top 5 Scores Posts of 2022: Steady FICO Score, BNPL and Alternative Data 2022 marked the first year in over a decade the average FICO Score did not increase, while the industry’s attention remained on topics such as alternative data and BNPL. BNPL in Credit Reports: How Could This Data Impact FICO Scores?

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Know-It Global

JUNE 28, 2023

In today’s fast-paced and interconnected world, credit control has become a vital aspect of financial management for businesses. Traditionally, credit management involved manual processes and relied heavily on human intervention, which often proved time-consuming and prone to errors. Check out this short demo to see how-it works!

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Credit Scoring Credit and Collections Bad Debt Credit Management 52

Know-It Global

APRIL 13, 2023

Debtor days, or as some call days sales outstanding (DSO), is a measure of how long it takes for a company to collect payment from its customers. High debtor days figures suggest that a business takes too long to collect payment. Business credit scores, credit ratings and credit limits are never fixed, they do change.

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Credit and Collections Days Sales Outstanding Credit Scoring DSO 97

The Red Spectrum

APRIL 12, 2023

Better Credit Management: By offering net 30 payment terms, businesses can better manage their credit as they can delay payment for up to 30 days without negatively impacting their credit score. They continue to report, and your business continues to grow.

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Know-It Global

JULY 26, 2023

Evaluate and improve your credit terms Begin by assessing your current credit terms and ensure they are reasonable and aligned with industry standards. Consider shortening the credit period, tightening credit limits, or implementing stricter credit approval processes. Struggling for time?

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Abrigo

AUGUST 28, 2019

Ask the staff of banks and credit unions about the loan application, underwriting, and onboarding processes at their respective institutions, and you’ll likely hear some complaints from them, too. A look at the steps of an institution relying on manual processes and an institution utilizing technology sheds light.

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Credit Unions Credit and Collections Credit Risk Credit Scoring 60

Credibly

MAY 28, 2024

Source: LinkedIn Typically, direct lenders are also more specific with credit scoring and other stipulations. AI integration will become increasingly used for more accurate and efficient credit risk assessments. A marketplace loan offers more flexibility with requirements and a wider range of loan programs.

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Credit Scoring Credit and Collections Cybersecurity Small Businesses 40

Lendio

NOVEMBER 29, 2022

Before a lender in particular will approve your application for a business loan , you typically need to prove that you and your business are good credit risks. First, it’s wise to review your credit reports and scores (from all three credit bureaus, if possible). Applying is free and won’t impact your credit.

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Know-It Global

NOVEMBER 28, 2022

Without it, it would be extremely difficult to keep track of orders you’ve fulfilled and payments you’ve collected. The benefits of company matching for Check-it, Chase-it and Collect-it. Know-it works wonders for your business cashflow by automating the complete credit control process.

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Credit and Collections Credit Risk Credit Scoring Credit Management 52

Know-It Global

JUNE 20, 2023

Credit control is a vital aspect of financial management for businesses. It involves managing credit sales and making informed credit decisions, ensuring timely payment from customers, and minimising bad debt. Setting Up Credit Control Processes 1.1 This is where business credit checking comes into play.

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Bad Debt Credit and Collections Debt Collections Credit Risk 19

Due

MAY 28, 2023

Banks, by nature, face numerous risks. These risks include credit risk, meaning loans may not be paid turning them into non-performing assets, and liquidity risk, which is when withdrawals from the bank are more than the bank’s available funds. What Is a Bank Crisis?

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