PYMNTS
MAY 2, 2019
“Since we launched the card in 2011, our cardmembers’ buying habits have evolved, which is why we’re evolving the card, too,” said Kunal Madhok, vice president of U.S. consumer lending and acquisition at American Express. “If I had to pick, I’d argue that the best potential fits are older millennials and Gen Xers.
PYMNTS
MAY 29, 2019
Over the last year, we’ve worked aggressively to grow SoFi from a desktop lending business to a broad-based, mobile-first financial platform enabling members to borrow, save, spend, invest and protect their money,” said Anthony Noto, CEO of SoFi. billion in 2018, up from under $1 billion in 2013. percent annual percentage yield.
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PYMNTS
MAY 2, 2017
Auto lending, particularly to subprime borrowers, has been looking especially concerning as delinquencies and default rates have steadily climbed. And auto lending is not the only alarm bell currently going off — student loans are also showing a spike in defaults. percent, its highest level since 2011. trillion of $3.6
Jeff For Banks
MARCH 20, 2016
After its most recent capital raise in September, SoFi, a marketplace lender that focuses on millennials, has raised nearly $1.5 billion in equity capital since its founding in 2011. Since 2011, SoFi has funded over $6 billion in loans (through December 15, 2015). SoFi started in 2011, so the tide has not yet gone out on them.
Jeff For Banks
MARCH 3, 2018
How do we balance strategic direction, customer demand, and the futurist or wildly over-caffeinated millennial that tells us we have to implement every shiny new object or we'll die? When I wrote that post in January 2011 there were 7,700 FDIC insured financial institutions. Maybe those millennial futurists don't remember this.
CB Insights
SEPTEMBER 10, 2019
While the media often portrays millennials as preoccupied with the rising prices of festival tickets and avocado toast, their real financial concerns are a bit more practical. But millennials face significant headwinds in making those financial dreams a reality. get the REPORT on next generation investors. From big banks to big tech.
PYMNTS
JULY 23, 2018
Median household income, which had dropped to $58,829 in June 2011, has consistently increased since the summer of 2014. They have and use store cards and say they pay student loans (probably at that age for their millennial kids). Yet, you might not think consumers are so happy if you look under the hood, as we have done.
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