PYMNTS

AUGUST 20, 2019

And based on early indications, it seems the follow-up act to the millennial generation is much more positively inclined toward using credit products of all stripes. Far more millennials and Gen Xers make use of credit cards than Gen Zers – at 38.29 million and 38.27 million, both cohorts have roughly quintuple the carrying rate.

Millennials 124

Millennials Cards Lending Data 124

Gonzobanker

OCTOBER 26, 2017

This is not to say financial institutions don’t develop talent for lending and information technology. The lending challenge is this: A great generation of lenders is getting close to retirement. Can bankers make lending something that has panache and appeal to Millennials? And who will replace them? Risky, yes.

Resources 71

Resources Training Lending Strategy 71

PYMNTS

DECEMBER 28, 2018

Charles Dickens’ famous starter to A Tale of Two Cities , as it turns out, is a pretty good way to sum up the year 2018 from the view of the alternative financial services segment. However, as 2018 wore on, headwinds started to blow back on the segment, most especially in the form of rising interest rates.

Millennials 145

Millennials Lending System Data 145

PYMNTS

AUGUST 20, 2019

And based on early indications, it seems the follow-up act to the millennial generation is much more positively inclined toward using credit products of all stripes. Far more millennials and Gen Xers make use of credit cards than Gen Zers – at 38.29 million and 38.27 million, both cohorts have roughly quintuple the carrying rate.

Millennials 101

Millennials Cards Lending Data 101

PYMNTS

FEBRUARY 10, 2020

billion, and have dropped 84 percent since 2018, down to less than $560 million. 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.

US 142

US Taxes Millennials Payments 142

PYMNTS

JUNE 26, 2018

And not just one branch of underwriting — for a short while there, it seemed like all of it had hit Game Over status — with consumers; SMB and even enterprise-level lending slowed to a near stop. ” When one steps back, he noted, and looks at the total picture for 2018, it is notably different from 2008 in many regards.

Millennials 116

Millennials Lending United States Comparison 116

PYMNTS

JULY 22, 2019

Atom, a banking startup in the UK that caters to millennials, has raised £50M ($62.4 The bank targets millennials with its slogan “It’s all about you, you, you,” and with digital friendly options like mobile-first savings accounts, as well as loans for small businesses and mortgages.

Millennials 108

Millennials Metro blockchain Lending 108

PYMNTS

JULY 22, 2019

Atom, a banking startup in the UK that caters to millennials, has raised £50M ($62.4 The bank targets millennials with its slogan “It’s all about you, you, you,” and with digital friendly options like mobile-first savings accounts, as well as loans for small businesses and mortgages.

Millennials 100

Millennials Metro blockchain Lending 100

PYMNTS

OCTOBER 1, 2020

For instance, instant payments are most prevalent in the worlds of wages, insurance disbursements and lending payouts, according to the survey results. percent as of 2018. However, only 51 percent of receivers said they were offered a payment choice for insurance- and lending-related payouts. percent in 2019 and 9.5

Trends 306

Trends Study Taxes Payments 306

PYMNTS

FEBRUARY 20, 2018

Late payments and out-and-out defaults and charge-offs are on the rise across a few lending segments. A fair portion of that interest rate, according to the Fed, was an uptick in mortgage lending. percent in 2018 — up from the 4.32 Student Lending. Rising Consumer Debt. Credit Card Troubles. percent previously forecasted.

Lending 105

Lending Cards America New York 105

PYMNTS

MAY 29, 2019

billion in 2018, up from under $1 billion in 2013. 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. percent annual percentage yield.

San Francisco 116

San Francisco Capital Millennials cryptocurrency 116

PYMNTS

JANUARY 14, 2020

Broadly speaking, it seems the follow-up act to the millennial generation – that is, Gen Z – is much more positively inclined toward using credit products of all stripes. Far more millennials and Gen Xers make use of credit cards than Gen Zers – at 38.29 million and 38.27 million, both cohorts have roughly quintuple the carrying rate.

Innovation 160

Innovation Payments Millennials Cards 160

PYMNTS

FEBRUARY 4, 2020

A 2018 report in Forbes cited research from the Journal of Business Venturing, which found that equity crowdfunding is often a last resort for SMBs when traditional and internal funding options run dry. SBA loans take too long and cost too much because of regulatory fees that get worked into the private lending process,” he said.

Lending 131

Lending Capital Strategy Millennials 131

PYMNTS

SEPTEMBER 17, 2019

While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. The loan amount a borrower can get from a pawnbroker is determined solely by the value of the item itself; as in most forms of short-term lending, there is no credit check.

Ohio 151

Ohio Lending Iowa South Dakota 151

PYMNTS

MARCH 10, 2020

What instant lending innovation have shoppers fallen in love with? Between 2018 and 2019, there was a 162 percent increase in buy now, pay later (BNPL) downloads – rising to roughly six million – of the most popular new “layaway” apps by the close of last year. Here’s a hint: We’ll tell you now … and you can thank us later.

Case Study 135

Case Study Retail Millennials Branding 135

PYMNTS

JANUARY 12, 2020

The startup was founded in May and will introduce a digital banking blueprint concentrated on serving millennials in India, Narayanan told TechCrunch. They want insurance, lending, investment opportunities and multiple products,” said Narayanan, epiFi CEO. In 2018, international investors invested a record $9.6

Google 101

Google Capital Millennials Digital Banking 101

PYMNTS

AUGUST 10, 2020

This “choice gap” is perhaps one of the most interesting findings of our study and is particularly notable for payments that are made using point-of-sale (POS) channels, such as insurance, lending and product purchase-related disbursements.

Report 228

Report Payments Millennials Cards 228

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 – of funds were lost to card fraud in 2018, up from $1.4 Just under $3 billion – or $2.7 billion in 2017.

Apple 159

Apple Mobile Fraud Branding 159

PYMNTS

DECEMBER 27, 2019

That help is forthcoming, as in the case of the Central Bank of Ireland , which is changing regulations to favor more CU lending with higher limits. FIs are not accustomed to customers telling them which products to offer, but in the mobile instant payments world driven by millennials and Gen Zers, that’s the deal – take it or leave it.

Digital Banking 130

Digital Banking Millennials Banking Trends Mobile 130

FICO

AUGUST 20, 2019

China Construction Bank (CCB) hopes to reach more millennial consumers and is using alternative scoring services to improve decision making and improve financial inclusion efforts to reach this demographic. Our new risk-based underwriting strategy is helping to us to maximize our overall profitability while expanding lending to millennials.”.

Big Data 40

Big Data Data Marketing Millennials 40

PYMNTS

APRIL 4, 2019

As of the last quarter of 2018, total U.S. According to the report, between 2005 and 2010, mortgage debt represented 78 percent of total household debt; as of late 2018 mortgage debt accounts for only 71 percent of the total. household debt stood at $13.58 They make up 10.7 percent of household debt respectively.

US 116

US New York Trends United States 116

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

PYMNTS

MAY 23, 2019

Millennials, Bridge Millennials and the rapidly up-and-coming Gen Z consumers mostly prefer digital banking as their go-to when they interact. For credit unions alone [in] 2015 and 2018, credit union market share of personal lending went from 31 percent to 22 percent. That result, Chambers noted, is just an average.

Online 123

Online Millennials Digital Banking Maine 123

Accenture

MAY 7, 2019

As of December 2018, Revolut had 200,000 Irish customers , an increase of fourfold in just over a year. And it’s not just millennials who are thinking of jumping ship. However, this isn’t just a frustration for your average millennial. From an Irish perspective, the challenge is here now.

Customer Experience 178

Customer Experience Online Millennials social media 178

PYMNTS

NOVEMBER 28, 2017

Car-shopping app Fair was launched in Los Angeles in September by Scott Painter, Fair founder and former CEO of TrueCar, with plans to expand to more markets in 2018. The millennial factor. Fair’s phone-first approach to vehicle shopping was designed for millennials, he explained. percent compared to the 12.09 of Gen Xers.

Mobile 102

Mobile Millennials Los Angeles Trends 102

PYMNTS

FEBRUARY 14, 2018

It’s no secret: Millennials are saddled with student loan debt, and they’re facing more expensive rent. The company offers its consumers this value proposition: Give us about 10 percent of the cost to purchase the goods, and we’ll lend you the equipment. But they also love experiences. Purchasing it could cost hundreds of dollars.

Los Angeles 109

Los Angeles Millennials Branding Company 109

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

DECEMBER 20, 2018

In our current rising rate environment, any bank that can’t grow (or at least sustain) its deposits base will face shrinking net interest margins and a competitive disadvantage in their consumer lending businesses. small-dollar lending market. This is critical to making the business case for small-dollar lending viable.

Trends 73

Trends Lending Fraud Exercises 73

Independent Banker

FEBRUARY 28, 2023

He has also served on ICBA’s executive committee for many years, including a term as treasurer from 2016 to 2018. A banking stalwart described by outgoing chairman Brad Bolton as “a passionate community leader and a staunch leader of our industry,” Williams has built a career by immersing himself in the community banking world.

Community 172

Community Community Bank Georgia San Antonio 172

PYMNTS

AUGUST 21, 2018

Adding to the fun — consumers born in the 1980s to 1990s (aka millennials) that are widely counted as the future of economy — carry the highest debt load of any generation according to the Federal Reserve Bank of St. percent in the second quarter, flat with the first quarter of 2018. population — fare much worse. percent from 8.9

US 100

US Millennials New York St. Louis 100

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. Download the free report to learn about the biggest trends from fintech in 2018 and ones to watch for 2019. Two that are already seeing lots of activity are payments and lending.

Policies 61

Policies Lending Operations Examples 61

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. Making virtual credit a part of everyday life. In July 2019, premium sales exceeded $83M.

Fintech 51

Fintech social media Analysis Marketing 51

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. Our client, Docutech , launched Solex, their eSign platform.

blockchain 46

blockchain Detroit Conference Knowledge Base 46

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

DECEMBER 11, 2017

Said Hall, especially in the millennial age, “friends help keep people accountable.”. Hall noted a few features of the streaming service (available across devices such as TVs, smartphones and tablets), set to debut at the beginning of 2018, key among them heart rate training.

Exercises 103

Exercises Community New York City United States 103

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. Check out Jim Burson and Ron Shevlin’s 2018 Channels Priorities. Digital: The New Must-Have.

Strategy 89

Strategy Marketing Mobile Trends 89

Fintech Labs Insights

OCTOBER 13, 2020

Description: Alternative credit scoring and lending in emerging markets. Founded: Aug 2018. Target customers: Millennials. Founded: 2018. Green Growth is Building a Platform for Millennial “Green” Investing (Fintech Startup of the Week). You can watch the entire 41-minute program here. HQ: Belmont, CA.

San Francisco 15

San Francisco CA Fintech Oakland 15