Insights on Business

OCTOBER 10, 2017

At Sibos 2017 in Toronto IBM will show how we are empowering global banks by helping them digitally reinvent for tomorrow. Through our solutions in cognitive, cloud, payments and blockchain, IBM is guiding the financial industry through a period of unprecedented change – watch for IBM news from Sibos 2017 !

blockchain 87

blockchain Customer Experience Compliance Fraud 87

PYMNTS

FEBRUARY 21, 2018

Lending to small businesses (SMBs) among top U.K. Bank lending to small firms flattened last year, but asset-based finance rose 12 percent, and alternative lending rose 51 percent. million SMBs applied for a bank loan or an overdraft in 2017, the report found. percent of the U.K.’s

Lending 133

Lending Survey Exercises Millennials 133

PYMNTS

FEBRUARY 20, 2018

have already used an online alternative lending platform. Its 2017 U.S. Small Business Payments and Banking Survey also found millennial small business owners are twice as likely than their older peers to have used an alternative funding solution (48 percent compared to 25 percent for business owners 35 and older).

Millennials 101

Millennials Lending Survey Groups 101

PYMNTS

MAY 23, 2017

trillion at the end of the first quarter of 2017, up $473 billion from a year ago and $50 billion above the previous 2008 record. The household debt of 2017 is somewhat different than its 2008 equivalent, since the figures are not adjusted for inflation, wage increases or population size. household debt hit $12.73 The Debt Realigned.

Millennials 108

Millennials Lending New York Trends 108

PYMNTS

OCTOBER 8, 2018

Sixty-one percent of small businesses said they use commercial credit cards , a year-over-year decrease from 2017’s 71 percent. At the same time, more than two-fifths of survey respondents agreed that cash flow management is a daily concern, while more millennials said it’s a concern compared to their older peers.

Millennials 197

Millennials Cards Survey Lending 197

Abrigo

JANUARY 13, 2020

Cross-selling to stem “hidden defections” (when a financial institution’s customer purchases an additional banking product from a competing bank) represents huge untapped opportunities for institutions, according to a 2017 study by Bain & Company involving a survey of more than 133,000 banking customers in 22 countries. Learn More.

Lending 150

Lending Study Survey Community 150

PYMNTS

DECEMBER 28, 2018

According to the PYMNTS/Unifund Financial Invisibles Report , 81 percent of participants said their financial situations have either remained stable or improved since last year, and the number of consumers seriously delinquent on debt dropped 11 percent between Q4 2017 and Q2 2018. Resetting Mortgage Services.

Millennials 145

Millennials Lending System Data 145

Abrigo

JUNE 14, 2017

Donald Musso, president at FinPro, and Martin Henderek, senior financial analyst, suggest an easy-to-follow tech plan in their article Navigating the Fintech Landscape , published in the May 2017 issue of BankNews. Are your primary customers millennials, demanding mobile banking services? Are customers requesting new products?

Fintech 170

Fintech Software Lending Millennials 170

PYMNTS

FEBRUARY 10, 2020

Reynolds CEO: Recreating Grocery’s Home Goods Aisle For The Millennial. China’s Central Bank To Start Re-Lending Funding To Fight Virus. billion in 2019, much larger than the $3 billion incurred in 2017 and 2018 combined. The loans will soon be offered on a weekly basis. Crypto Fraud Scores More Than $4B In 2019.

US 142

US Taxes Millennials Payments 142

William Mills

APRIL 20, 2017

Tony Garritano from Progress in Lending held an Innovations Awards event at the London House which showcased seven companies in the mortgage industry that are leading the way in compliance, eClosings, appraisals and information management. The post MBA Tech 2017: Blockchain, APIs and Robots, Oh My!

blockchain 46

blockchain Detroit Conference Knowledge Base 46

PYMNTS

FEBRUARY 20, 2018

Late payments and out-and-out defaults and charge-offs are on the rise across a few lending segments. According to the New York Federal Reserve, household debt surged in the final quarter of 2017 to $13.15 A fair portion of that interest rate, according to the Fed, was an uptick in mortgage lending. Rising Consumer Debt.

Lending 105

Lending Cards America New York 105

PYMNTS

MAY 15, 2017

While Google, Lenovo, LG and others are already or soon look to hold their own in the burgeoning AI personal assistant market, new research from eMarketer indicates that it’s Amazon’s for the taking in 2017. In 2017, eMarketer projects 35.6 percent year over year in 2017. Alexa will likely command 70.6 million U.S.

Google 108

Google Millennials Samsung Video 108

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. Millennials currently are responsible for $1.1 percent, up 0.59

Millennials 103

Millennials Lending Capital Cards 103

PYMNTS

JULY 31, 2017

That’s bad news for some of the largest FIs, despite a recent uptick in small business lending activity. The 2017 report from FIS surveyed nearly 500 SMEs in the U.S. While lending restrictions seem to be easing somewhat recently, SMBs have struggled mightily in terms of getting approved for business loans.”.

Survey 112

Survey Community Bank Community Regional 112

PYMNTS

DECEMBER 22, 2016

Val, which is considered “a digital money coach” is still in beta form, with plans to fully launch in early 2017. The bot will provide an integrated approach to deposits, savings and lending. The partnership announced that it intends to power Val through Varo’s mobile app.

Millennials 100

Millennials America Study Mobile 100

PYMNTS

MAY 28, 2019

Indonesian ride-hailing and online payment company GO-JEK , for instance, is expanding its financial technology services through partnerships with peer-to-peer (P2P) lending firms Dana Cita, Aktivaku and Findaya. billion in 2017. That marked an increase from 2017’s $1.4 Just under $3 billion – or $2.7

Apple 159

Apple Mobile Fraud Branding 159

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.

Millennials 77

Millennials Mobile Lending Cards 77

FICO

MAY 23, 2017

Millennials hate banks, so much so that a majority would rather visit the dentist than listen to what banks are saying. New fintech products—across a wide range of areas including lending, wealth management, and payments—are going to lead to the unbundling of the financial services industry. However, according to FICO’s 2017 U.S.

Fintech 40

Fintech Millennials Survey Lending 40

PYMNTS

APRIL 4, 2019

By the first quarter of 2017, household debt had passed its 2008 peak of $12.657 billion, according to a new report released by the New York Fed. The trend, according to the report, is visible in most major debt categories — particularly home and credit card lending. As of the last quarter of 2018, total U.S. They make up 10.7

US 116

US New York Trends United States 116

PYMNTS

AUGUST 14, 2019

Instant lending is the largest monetizable transaction type with Venmo, said management, and the remainder is split between Venmo Card and Pay with Venmo. For instance, according to one report from LendEDU , a student loan refinancing company, about 33 percent of millennials had paid for drugs via Venmo – and that was in late 2017.

Payments 124

Payments Trends Cards Comparison 124

FICO

AUGUST 19, 2022

According to a 2022 report by Cornerstone Advisors , the percentage of Gen Z, Millennial, and Gen X consumers in the U.S. While this is a good start, banks cannot lose sight of the value that intentionally used overdraft protection (or similar short-term lending products) can have for customers with cash flow imbalances. See all Posts.

Fintech 52

Fintech Millennials Lending Tools 52

CB Insights

OCTOBER 24, 2018

According to CB Insights data, 9 POS lenders have raised $700M+ across 14 deals since June 2017. get the entire 47-page lending report. See how startups and big tech are reinventing traditional lending. Download our deep dive into the disruption of lending. Square announced it will begin POS consumer lending (10/4).

Millennials 65

Millennials Lending Cards Capital 65

FICO

AUGUST 15, 2018

We recently studied the impact of millennials’ student loan debt on their willingness and ability to obtain new mortgage loans. Figure 1 contains a FICO® Score distribution for mortgages opened in different periods between 2009 to 2017. We used a nationally representative sample to identify roughly 2.8

Trends 53

Trends Millennials Course Payments 53

Abrigo

DECEMBER 15, 2016

In the 2015 Growth Strategy Survey by Bank Director , the most commonly cited areas for growth were Commercial Real Estate Lending, C&I loans, SBA loans, and Construction loans. This is compounded by the growing trend of Millennial small business owners.

Lending 150

Lending Millennials Study Survey 150

PYMNTS

JUNE 5, 2018

In its latest research, business intelligence firm RFI found that most millennials in the U.K. Following the company’s launch of small business lending services, PayPal partnered with small business accounting software Reckon in 2016, enabling SMBs to issue invoices with the capability for customers to settle using PayPal.

Payments 116

Payments Survey Software Millennials 116

CB Insights

FEBRUARY 1, 2019

Consider that: Half of Indonesia’s population is under the age of 30, with the number of millennials (aged 17-35) in Indonesia currently at 79.5M. Two that are already seeing lots of activity are payments and lending. Meanwhile, alternative lending is also seeing strong growth, with P2P fintech platforms distributing $1.4B

Policies 61

Policies Lending Operations Examples 61

William Mills

AUGUST 17, 2016

Between September and October, we’ll see a host of new companies, ideas and innovation, and we’ll hear from the “experts” on those issues we need to pay attention to in 2017. The best quote I’ve heard recently is, “Anyone can lend money. Alternative lenders are learning more about fraud to their dismay and access to capital.

Conference 40

Conference Innovation Las Vegas Colorado 40

Gonzobanker

MARCH 6, 2018

Much like a bank that over-concentrates itself on commercial real estate lending, banks that rely too heavily on physical channels for consumer and business customers risk attrition, lost revenue and increased expenses. Consider these numbers from PwC’s 2017 Digital Banking Consumer Survey : ? Digital: The New Must-Have.

Strategy 89

Strategy Marketing Mobile Trends 89

PYMNTS

DECEMBER 13, 2016

Millennials just aren’t buying homes — they are the first generation of Americans since World War II who will meaningfully move away from that vision of the American Dream. Millennial homeownership rates — for those 75.4 Millennials have not, as some have argued, radically thrown off ideas about owning homes en masse.

Millennials 100

Millennials Groups Study Washington 100

CB Insights

NOVEMBER 5, 2019

Both Ant and Tencent have converged on a growth playbook that focuses on converting their massive audiences of digital payments users into consumers of financial services across lending, wealth management, insurance, and credit scoring. That’s 10X more than the outstanding loans on Huabei at the end of the first half of 2017 (99.2

Fintech 51

Fintech social media Analysis Marketing 51

CB Insights

OCTOBER 10, 2018

Asia is highly competitive, with tech giants like Ant Financial and Tencent’s WeChat actively dominating mobile payments and expanding their reach in financial services across lending, wealth management, and insurance. This includes targeting the underbanked/unbanked, millennials, students, kids, freelancers, and early adopters of blockchain.

Retail 78

Retail Cards Millennials Mobile 78

PYMNTS

JULY 23, 2018

Or are the 27 percent of the population — those high-income Bridge Millennials and Gen X-ers with college degrees who are steps away from financial catastrophe — happy, even if they do report feeling more positive about the stability of their financial situation than they did this time a year ago? Are the more than a third of U.S.

Cards 122

Cards Groups Report US 122

CB Insights

AUGUST 2, 2018

US consumers aged 18+ make an average of 70 payments per month, with debit cards accounting for 32% of those purchases, according to a 2017 study by the Boston Fed. With millions of existing customers and large millennial user bases, fintechs are in a prime spot to expand their product lines. How the products work. Concluding thoughts.

Cards 71

Cards Fintech UX Strategy 71

PYMNTS

APRIL 17, 2017

Launched in 2014 as the firm’s lending arm, Square Capital has extended over $1 billion in working capital to over 100,000 small merchants. Among sellers who have accepted a loan from Square Capital, 54 percent are women and 46 percent are men; among millennial business owners, 60 percent are women and 40 percent are men.

Apple 110

Apple Capital Cards Payments 110

CB Insights

NOVEMBER 6, 2018

Google has previously leveraged its search data for industry reports across the beauty space, including a 2014 report on the beauty revolution, a 2015 report on hair trends, and a 2017 report that used Google data to identify skincare trends across the US, France, and Japan. Sephora launched its app on Google Assistant in November 2017.

Google 72

Google Apple Industry Branding 72

CB Insights

DECEMBER 7, 2017

By the end of 2017, nearly $1.8T worth of mortgages will have been originated in the United States this year, according to government-backed mortgage lender Freddie Mac. FINTECH TRENDS Q3 2017 RESEARCH BRIEFING. Fintech deals and funding are on track to reach record highs in 2017.

Millennials 69

Millennials Lending United States Technology 69

PYMNTS

JUNE 27, 2019

The installment lending playing field just got more interesting — and global — today (June 27). trillion market in 2017 growing at twice the rate of credit cards. Installment lending at the POS just isn’t available. Globally, installments are a popular credit option, and for good reason — with a $1.2 However, in the U.S.,

Lending 188

Lending User Experience Cards Fintech 188