PYMNTS

JANUARY 7, 2021

7) that it was merging with publicly-traded Social Capital in an $8.6 The SoFi deal marks at least the third such transaction done by the Social Capital SPAC, Palihapitiya said in a televised interview on CNBC, adding that the deal was driven by the fact that banking infrastructure isn't currently meeting the needs of U.S.

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PYMNTS

MAY 11, 2020

Mumbai-based Tata Capital , a division of Tata Group, is rolling out a mobile app to make it easier for its business loan customers to manage their accounts. Tata Capital is deeply invested in providing easy access of credit to merchants and dealers through its Channel Finance and Term Loan products.

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PYMNTS

JUNE 24, 2020

Zopa received those funds from a group linked to IAG Capital Partners, a U.S.-based Since COVID-19, non-bank lenders have been hurting as capital markets became less available and retail investors tried to withdraw their cash from the P2P sector, the Times reported. Capital One was one of the earlier disrupters,” Janardana said.

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PYMNTS

DECEMBER 2, 2019

Singtel Innov8, TMI (Telkomsel Indonesia), Cathay Innovation, Kejora-InterVest, Mirae Asset Securities, Reinventure and DST Partners also participated in the “oversubscribed” funding round — one of the largest for a FinTech startup in Southeast Asia.

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PYMNTS

JANUARY 7, 2019

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. Such alternative data, said the GAO, could pose risk to such lending decisions. Sandboxes, Gathering Steam.

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PYMNTS

DECEMBER 24, 2019

But in business, money is oxygen, and when the flow of money, from venture capital and private equity firms, or investment from companies willing to commit research and development dollars to a sector starts to dwindle, then several projects do not make it beyond concept to the land of reality. billion. Want another data point?

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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. billion kronor (approximately $171 million) infusion in 2019.

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PYMNTS

DECEMBER 17, 2020

a South Korean digital bank, has chosen Credit Suisse and KB Investment & Securities as its advisors for its upcoming initial public offering (IPO), Reuters reported. Kakao Bank is one of only two digital banks in the country and became profitable in 2019, according to Reuters, after less than two years of operation. billion).

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PYMNTS

OCTOBER 21, 2020

Swedish peer-to-peer (P2P) lending startup Lendify has secured $115 million in funding from Insight Investment, according to a Bloomberg report on Wednesday (Oct. In the past, the startup was supported by P2P lending and institutional capital. In 2019, Lendify’s parent company Insikt rebranded under its new name, Aura.

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PYMNTS

DECEMBER 28, 2018

“Considering how busy a small business owner is and how limited their schedule [is] to visit a bank branch, this severely undercuts the ability [of] banks to capitalize on the lucrative business banking segment,” Avoka stated in its report. In 2019, it is about ensuring the FI has the right?

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PYMNTS

SEPTEMBER 17, 2020

We continue to evaluate capital options and are excited about our industry position,” CEO Anthony Hsieh told Bloomberg. Securities and Exchange Commission (SEC). The company has determined not to pursue a public offering of the securities covered by the registration statement at this time,” LoanDepot wrote in its filing.

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PYMNTS

JULY 1, 2016

Soon after Lending Club revealed its ex-CEO may have artificially inflated the company’s lending volumes, the U.S. Find out which alt lenders secured $77 million in venture capital, as well as the other startups across the U.S., Alternative Lending. alternative lending space this week, too.

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PYMNTS

OCTOBER 2, 2018

We’re also a pure-play technology company, designed to support banks [that] want to offer lending products, but … either can’t or won’t dedicate hundreds of millions to building the capacity,” he said. Amount’s first target group of banks will be large institutions looking for a highly customizable lending solution.

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PYMNTS

APRIL 24, 2020

With social distancing and an economic downturn the new reality for many markets around the world, venture capital is expected to slow significantly. Reports in American Banker said CB Insights data has revealed a 45 percent decline in year-over-year FinTech funding in the year’s first quarter, and a 25 percent drop from Q4 2019.

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PYMNTS

MARCH 9, 2020

To provide a digital lending offering for small business clients, Metro Bank has collaborated with banking software provider ezbob. By teaming up with ezbob, we’ll be able to help our customers secure the finance they need in a matter of minutes, giving them the edge in today’s competitive market.”.

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Abrigo

APRIL 22, 2024

Recent dynamics of the small business lending market A deep understanding of the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. You might also like this guide for smarter, faster small business lending. Record new business formation and a wider gap between U.S.

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Abrigo

APRIL 30, 2020

While it’s been a mad dash to secure funds for small business borrowers, the work is far from over once the loans are issued. Eligibility for loan forgiveness has been just as confusing – if not more so – than securing a PPP loan. You have ample access to capital markets or substantial market value.

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PYMNTS

JULY 13, 2020

Minneapolis-based buy now, pay later (BNPL) firm Sezzle has raised $55 million in its latest capital round, according to a press release. Eligible Sezzle holders will also be able to acquire additional CDIs through a Security Purchase Plan (SPP). The company allows shoppers to make payments in four equal numbers across six weeks.

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PYMNTS

OCTOBER 8, 2019

The latest data also hints at the possibility banks may be feeling skittish about lending to small and medium-sized business (SMB) customers. percent, raising concerns that SMBs are struggling to access capital. The firm surveyed more than 300 U.S. 37 percent of SMBs said the U.S. Their survey of 752 U.S.

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PYMNTS

DECEMBER 13, 2019

Traditional bank loans remain the undisputed leader in small business lending. by regulatory initiatives (designed to spur competition in small business banking, open up the market to new challenger banks and support marketplace lending platforms), the bank loan is often the first place small business owners look when in search of capital.

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PYMNTS

SEPTEMBER 5, 2019

Alternative lender Ultimate Finance is exiting the unsecured lending market in response to “market conditions,” according to the company. He added that “evolution is needed to reach our long-term aspirations and to capitalize on the huge opportunity in front of us.”. Reports in Verdict.co.uk on Wednesday (Sept. 4) said the U.K.

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Bank Innovation

FEBRUARY 5, 2019

Time is running out to apply for Bank Innovation’s DEMOvation Challenge, in which fintech startups demo before a crowd of conference attendees in hopes of earning their vote and walking away with prizes. The application deadline is Friday, February 8. Apply here.

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PYMNTS

MARCH 31, 2020

MatchMove’s LightSpeed solution won top honors in the category “Best Payments Innovation of the Year” in the 4th Payments and Cards Awards 2019 held in Mumbai, India. It has raised $20 million to date with August One and SEEDS Capital, among others.

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Bank Innovation

FEBRUARY 19, 2019

Community Capital Technologies, Denizen Financial, Diro Inc., Fintel Labs, iGTB, JUDI.AI, KapitalWise, OpenDoor Securities, and Operant.AI The 12 startups demoing to try to win the “best in show” award at Bank Innovation Ignite have been unveiled. The startups are:[link] Avocado Payments, Budgit Inc., Exagens Corp.,

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FICO

JANUARY 25, 2019

Meanwhile, the competition for established mortgage lending has intensified as mortgage system growth slowed over the last few years. The sources of new lending at any bank consist of customers with a new home purchase, those who are moving from another lender or are looking to buy an investment property.

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PYMNTS

OCTOBER 8, 2019

Taking the pulse of where we stand coming into the last few months of 2019, deal activity has seemingly been concentrated within the alternative finance and investment arenas. million through a Series B financing round that was in turn led by Ribbit Capital, based in the United States.

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South State Correspondent

SEPTEMBER 27, 2023

Ask most banks how they construct their lending portfolio, and they say that “it is what the market gives them.” Banks generate “alpha” or excess returns by taking more risk, usually in the form of real estate and commercial lending. cap rate back in 2019. ” That is not a great answer.

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PYMNTS

DECEMBER 6, 2019

backers focused on accounts payable (AP) technology, cannabis procurement and small business lending, to name a few – but it was a FinTech specializing in the high-growth market of on-demand payroll that secured the top spot in this week’s roundup. From Singapore to the U.K., based uncapped has announced $13.16

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PYMNTS

JULY 12, 2019

Chief Platform Officer Megan Caywood left in January, while Stuart Doignie, who was head of SME lending, and Jason Wilkinson Brown, another senior officer, both left in May. “As No replacements have been hired despite the bank’s ambitious growth plans after securing venture capital funds in February 2019.

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PYMNTS

NOVEMBER 17, 2019

The new group will provide a full suite of lending and banking products for growing technology companies at every development stage, including asset-based solutions, recurring revenue-based revolving lines of credit, treasury management, foreign exchange and more. million in the second quarter of 2019. “We

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Jeff For Banks

DECEMBER 7, 2019

Total return includes two components: capital appreciation and dividends. It is the Mountlake Terrace, Washington holding company for 1st Security Bank, a $1.7 First Capital, Inc. Nasdaq: FCAP) First Capital, Inc. This includes asset based lending, insurance premium financing, leasing, and factoring among others.

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PYMNTS

FEBRUARY 18, 2020

Credify, which was founded in 2019, said it plans to use the money to expand further into Southeast Asia , to continue with product development and to push forward with live client engagements. The company said it works to generate new sources of revenue for organizations while ensuring privacy protection and blockchain-based security.

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Bank Innovation

JANUARY 30, 2019

Interested in joining us for Bank Innovation Ignite 2019 on March 11-12 at the Hyatt Olive 8, Seattle? Register here to secure the lowest possible rate! You’d better hurry! Early registration ends this Friday, February 1 at 11:59 PM.

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PYMNTS

SEPTEMBER 25, 2019

For the first time since East & Partners began surveying Australian small businesses about their future growth plans, researchers have found that entrepreneurs are more likely to turn to an alternative lender than a traditional bank for capital. percent, reports said. percent planning to work with such providers.

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PYMNTS

FEBRUARY 5, 2019

I think it is pretty obvious when you read stories about the payday lending industry – and how it goes wrong for customers – that consumers need a better alternative,” Onward Financial Founder Ronnie Washington said. In an effort to innovate a solution to these cash flow challenges, Washington founded Onward Financial. ”

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PYMNTS

APRIL 5, 2019

After months of strategy adjustments, loan defaults and shifts in market exposure, Funding Circle’s SME Income Fund is set to close, sending shares down for the alternative lending company Friday (April 5). At the same time, Funding Circle announced plans to secure additional funding in the U.K. from the British Business Bank.

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PYMNTS

DECEMBER 11, 2020

Capital One Halts BNPL Transactions On Its Credit Cards. Capital One Financial Corp is putting a stop to buy now, pay later (BNPL) transactions on its credit cards, calling the dealings “ risky ,” for both consumers and banks. to advance secure, contactless transactions as stores reopen amid COVID-19 restrictions.

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