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The case for end-to-end digital lending

Independent Banker

Offering digital lending isn’t about the bells and whistles. started developing its digital lending platform about three years ago—and the bank is really glad it did. “I’m Community bankers are increasingly recognizing that the future of digital lending is here. Illustration by Out of the box/Stocksy. By Beth Mattson-Teig.

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Is Small Business Lending Facing a ‘Moment of Reckoning?’

Gonzobanker

Financial institutions that want to play in the small business lending sandbox need to bring their digital toys. But how can community banks successfully compete with big banks and fintechs that are spending billions on their digital lending capabilities? In a recent American Banker. In a recent American Banker. Source: DeBanked ).

Lending 136
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Today In Data: Alternative Banking, Innovation Budgets And Transportation Expenses

PYMNTS

56 percent | Percentage of ground transportation expenses Uber secured for travel and expense company Certify’s customers in 2017, up 52 percent in 2016. 25 | Number of hours it can take for SMBs to manually prepare and submit paperwork for the business lending process. workforce by 2020.

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Changes to the Military Lending Act: What your institution needs to know

ZootBlog

In July 2015, the Department of Defense (DoD) passed major changes to the Military Lending Act (MLA) with target compliance dates of October 3, 2015 and October 3, 2017. The MLA’s overall goal is to prevent predatory lending against U.S. If not already planning, starting now can avoid a rush to the October 3, 2016 deadline.

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Trade groups seek clarifications to Military Lending Act regulations

CFPB Monitor

A number of prominent industry trade groups have written to the Department of Defense (DoD) seeking clarifications to the Military Lending Act (MLA) final rule adopted in July 2015 that dramatically expanded the scope of the MLA’s coverage.

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LendingClub: Loan Applications Grow Double Digits Amid Rising Rates  

PYMNTS

That growth was outpaced by a record number of applications, up 30 percent year on year, as LendingClub looks to spur “awareness” of the benefits of fixed-rate lending in an era where interest rates are on the rise. CEO Sanborn stated that that engagement with the Federal Trade Commission remains ongoing.

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Critical pain points for business borrowers

Abrigo

Instead, applicants have more gripes about the process they encountered at financial institutions than about the financial aspects of their transactions, according to the 2016 Small Business Credit Survey by the Federal Reserve. How are you going to know if the institution even lends to your industry unless it says it does?

Survey 150