PYMNTS

JANUARY 6, 2017

based startup company that operates an online lending platform, has received an investment of £40 million from British Business Bank, the state-owned bank, but the money comes with strings. According to a report , Funding Circle has to use the funds to lend to small businesses. Funding Circle, the U.K.-based

Lending 100

Lending Report Operations Online 100

CFPB Monitor

AUGUST 14, 2018

The CFPB announced that it has settled a lawsuit that it filed in 2014 in a Missouri federal district court alleging that the defendants engaged in unlawful online payday lending schemes. The CFPB had sued Richard Moseley Sr.,

Online 79

Online Lending Missouri Fraud 79

Fintech Labs Insights

AUGUST 16, 2024

Before becoming an indie online banking/fintech analyst in the mid-1990s, I tried to do the same in the consumer loan/mortgage industry. I ended up pivoting to the fledgling online banking world, and I’m super glad I did. My favorite real job had been as a loan/mortgage product manager at Rainier Bank (now BofA).

Conference 15

Conference Las Vegas Lending Nashville 15

CB Insights

FEBRUARY 13, 2020

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Specifically, the Collisons aimed to more seamlessly connect online businesses and payment processors, allowing more businesses to accept online payments.

Online 98

Online Company Retail Payments 98

PYMNTS

MARCH 20, 2018

The “Scottish Pacific SME Growth Index,” released twice a year, found the portion of small businesses that said they would use banks for funding declined from 38 percent in 2014 to 24 percent in 2018. At the same time, interest in alternative lenders increased. Nearly half (47.6 Nearly half (47.6

Fintech 118

Fintech Lending Survey Innovation 118

Fintech Labs Insights

JULY 2, 2024

Before becoming an indie online banking/fintech analyst in the mid-1990s, I tried to do the same in the consumer loan/mortgage industry. I ended up pivoting to the fledgling online banking world, and I’m super glad I did. My favorite real job had been as a loan/mortgage product manager at Rainier Bank (now BofA).

Conference 15

Conference Las Vegas Lending Nashville 15

Perficient

JULY 11, 2022

When online shopping, if a retailer has a partnership with a BNPL platform, the customer can choose it as their payment method when placing their order at checkout. Apple is planning to make this service available at both online and retail stores – if you can use Apple Pay for it, you can use Apple Pay Later for it.

Fintech 474

Fintech Trends Apple South Dakota 474

PYMNTS

MARCH 5, 2016

The Federal Reserve published the findings of its research on small business lending habits in the U.S. According to the Fed, 80 percent of SMEs that sought funding in 2015 received it, a 15 percent increase from 2014 levels. In addition to increased bank lending, revenue was up for the businesses surveyed.

Cleveland 100

Cleveland Lending Survey Online 100

PYMNTS

MARCH 31, 2016

Analysts have largely been looking at the impact on SMEs in particular, especially as Chinese authorities promote bank lending to small businesses. This month, the China Banking Regulatory Commission (CBRC) reportedly ordered local banks to boost lending to small and medium-sized corporate customers. Bank Lending.

Lending 100

Lending Online Regulation Guidelines 100

Abrigo

JANUARY 22, 2015

Over the first half of 2014, these banks, with an approval rate of just under 60 percent, beat out large national banks (31 percent), large regional banks (45 percent) and online lenders (38 percent). While the approval rates are high and portfolios are expanding, the OCC did point out that lending standards continued to soften.

Community Bank 150

Community Bank Community Regional Cleveland 150

PYMNTS

OCTOBER 22, 2020

In today’s top payments news around the world, Swedish peer-to-peer (P2P) lending upstart Lendify has reportedly secured $115 million of funding, while international trade platform Contour has teamed with information technology (IT) solutions firm Mphasis. Swedish Startup Lendify Closes $115M Funding Deal.

Security 134

Security Groups Payments Regulation 134

PYMNTS

JANUARY 13, 2017

The biggest online lender for small businesses in the U.K., Either way, Bloomberg noted that Funding Circle’s lending has grown by one-third since the referendum last June. Funding Circle, announced that it secured $100 million in equity funding. s decision to exit the European Union was made last year.

Lending 100

Lending California Capital Online 100

PYMNTS

MAY 29, 2020

Since its founding in 2014, the company has raised more than $443 million. In early May, Boden told the Treasury Select Committee Starling was “very, very keen to start lending as soon as possible,” pending authorization. and Harald McPike, founder of QuantRes , Yahoo! Finance reported.

Digital Banking 131

Digital Banking Lending Community Groups 131

Gonzobanker

MAY 8, 2015

The annual LendIt conference was held last month at Times Square in New York City and GonzoLender descended boldly on the scene to evaluate the mysterious underbelly of digital lending. The lending attack on community banks and credit unions has been waged. LENDING VERTICALS. peer-to-peer or Marketplace) and lending vertical.

Conference 60

Conference Lending Community Bank Community 60

Bank Innovation

APRIL 3, 2018

based money transfer service, it launched in 2014, where customers could transfer money at lower fees. Retail giant Walmart announced today the launch of a global money transfer service called Walmart2World. The Walmart2World service is extension of its U.S.-based

Retail 250

Retail Online Innovation Lending 250

PYMNTS

AUGUST 12, 2016

Upserve is said to have a fancy, slick restaurant management algorithm that could help Square Capital refine its own fancy, slick risk management algorithm to make better lending decisions. This could come as a welcome relief, as lending decisions will be based on data about the viability and success of the business, which helps everyone.

Lending 100

Lending Apple Cards Study 100

PYMNTS

MARCH 14, 2016

billion, as measured across payment companies, Internet insurers and peer-to-peer players, and the most recent tally grew by 60 percent over 2014, Reuters reported. billion, with Reuters noting that activity far outran investments in Britain by roughly three times in terms of total funds committed between 2014 and 1015.

Fintech 100

Fintech Regional National Mobile 100

Bank Innovation

JUNE 23, 2016

Launched in 2014, Ant Financial Read More. Lucy Peng, CEO, Ant Financial Ant’s latest fundraising round – the largest ever anywhere – of $4.5 billion, and its overall valuation of more than $60 billion, have turned the Alibaba spinoff into one of the most valuable private tech companies in the world.

Innovation 284

Innovation Company social media Operations 284

PYMNTS

MARCH 22, 2019

The latter firm had been one of the investors in the original $1 million seed round raised by Thinknum in 2014. The move signals OneFi’s continued move away from its previous focus on lending services and an evolution into an online consumer finance platform.

Data 178

Data Fintech Capital Lending 178

PYMNTS

NOVEMBER 5, 2018

It marked the third time that Ant had a quarterly loss since its unit’s result was disclosed by Alibaba in the early part of 2014. As Ant expands its footprint into wealth management, consumer lending and overseas markets, it has posted a 65 percent leap in profits this fiscal year. billion yuan for the same quarter a year ago.

Taxes 134

Taxes Operations Lending Marketing 134

PYMNTS

APRIL 21, 2016

The alternative finance industry boomed post-2008 financial crisis as banks retreated from small business lending. Marketplace lenders emerged to fill the gap, and analysts began to ponder a paradigm shift: Could alternative lending threaten traditional financial institutions’ place in the world? Alt-Lenders On The Defense.

Lending 100

Lending Industry Regulation Groups 100

PYMNTS

FEBRUARY 1, 2018

Social Finance — the online lender better known as SoFi — will be laying off dozens of workers in its mortgage division, despite the fact that the home loans department was one that the firm was holding up as a potential generator for future growth. But mortgage lending has remained a comparatively small business for SoFi, with about $3.7

San Francisco 100

San Francisco Lending Examples Report 100

PYMNTS

DECEMBER 5, 2016

Latvian online marketplace lender Twino announced on Thursday (Dec. This marks the first time in history a peer-to-peer lending facilitator in Europe has listed Russian loans. Low interest rates have been the norm in the global lending market for the past few years. Russian banks retrenched lending in response to the sanctions.

Georgia 100

Georgia Lending System Operations 100

Abrigo

AUGUST 28, 2022

Develop better ag lending workflows before demand picks up. A better ag lending process makes applying smoother for borrowers and can allow efficient ag loan growth without adding a lot of staff. Takeaway 1 Now is the time to plant the seeds for harvesting growth in the ag loan portfolio by creating a better ag lending process.

Lending 195

Lending System Analysis Data 195

Bank Innovation

SEPTEMBER 6, 2018

LendingHome, which has originated $3 billion in loans since 2014, says there need not be a rush for digital mortgage servicers to partner with […]. There are advantages to both sides for banks to partner with mortgage solutions, but one of the U.S.’s

Innovation 170

Innovation Company Lending Online 170

PYMNTS

MAY 24, 2016

are dropping by nearly $145 million every month, according to new analysis from online marketplace lending site Funding Options. The company, which revealed the statistic on Monday (May 23), said recent regulations pertaining to bank overdrafts have caused the steep decline in small business lending volumes.

Lending 101

Lending Trends Regulation Analysis 101

Bank Innovation

MAY 1, 2016

Robinhood: On Target Launched in December 2014, Robinhood is a zero-fee stock trading app that quickly gained popularity among financially ambitious millennials. Robinhood was paid the enormous compliment of having “cracked the millennial code” by none other than Jay Sidhu, CEO of Customers Bank and founder of BankMobile.

Millennials 240

Millennials social media Operations Cards 240

PYMNTS

MAY 4, 2016

According to Wall Street Journal reports, the online lender is shedding 28 percent of its staff and rearranging its executive team. The biggest individual cut will be a Utah office dedicated to lending for medical procedures, but 14 percent of Prosper’s San Francisco- and Phoenix-based workforce is also on its way out the door.

San Francisco 100

San Francisco Phoenix Lending Utah 100

Independent Banker

OCTOBER 14, 2014

Robust online mortgage websites embrace today’s lending challenges as well as consumer needs. When Community Bank of Bergen County unveiled its online mortgage hub this summer, the bank put “ease of use” at the top of its goals for the site, says President and CEO Peter Michelotti. “I The online mortgage hub at D.L.

Community Bank 70

Community Bank Lending Community Oklahoma City 70

PYMNTS

FEBRUARY 24, 2016

In a sign that small business lending may be well on its way to moving beyond the traditional conduits of big banks and other larger financial players, online platform Lendio, which helps smaller companies find access to capital, reported heady growth for 2015. The company said Wednesday (Feb. million in funding.

Lending 100

Lending Capital Company Retail 100

Celent Banking

NOVEMBER 17, 2015

In the FinTech space, much of the focus is on consumer-oriented solutions like Mint for financial management, Venmo for P2P payments, and Prosper for social lending. Online small business lending by direct credit providers has especially taken off. in 2014 and projects expansion to $35B by 2020.

Report 100

Report FDIC Lending Fintech 100

PYMNTS

JUNE 21, 2016

Online clothing retailer, ModCloth, has been stepping up its efforts recently to lobby for passage of H.R. ModCloth’s anti-Photoshop stance has always been something of a cause célèbre for the online retailer, who in 2014 was the first to sign a pledge to not make any post-production changes to any of its models or images.

Retail 102

Retail Guidelines Survey Online 102

PYMNTS

APRIL 2, 2018

It’s not only for consumers, though: Alternative lending firm Kabbage recently found that mobile lending is on the rise among small businesses, with a more than 360 percent increase in the number of SMB loans accessed via mobile device between April 2014 and February 2018.

blockchain 171

blockchain Lending User Experience Mobile 171

Fintech Labs Insights

APRIL 12, 2024

Long before fintech was a thing (1995), I launched the first, and by most measures the biggest, newsletter during the first two decades of online/digital banking. It was called Online Banking Report and was read by a sizable portion of major industry players. The last one, published in Jan 2014, featured 50 innovations (see below).

Innovation 15

Innovation Fintech Online Mobile 15

PYMNTS

APRIL 4, 2016

We examine the findings from several market reports on small business access to capital, lending, growth and employment. 68% of B2B buyers made their purchases online in 2014 , found Accenture Interactive in a newly released research report. the price tag for buying its competitor was $36 million, the firms said.

Survey 100

Survey Lending Analysis Management 100

PYMNTS

NOVEMBER 15, 2016

Prosper, like many of its peers in marketplace lending, has had a tough year in 2016 — with investors falling out of love with loans provided online as quickly as they fell in love with them. Aaron Vermut joined Prosper as president in April 2013 and became chief executive in March 2014.

Lending 100

Lending Online Management Company 100

PYMNTS

JUNE 17, 2016

A few days later, one of the founding fathers of FinTech, Renaud Laplanche , was forced out of Lending Club, the peer-to-peer lender he founded in 2006, following scandals over loan disclosures and conflicts of interest. The really interesting, though less juicy, story is what got Lending Club into trouble.

Bitcoin 100

Bitcoin Lending blockchain Fintech 100