Independent Banker

APRIL 30, 2022

Loan providers share an infectious enthusiasm and growing optimism for one vertical’s prospects in 2022: commercial lending. Here’s how community bankers can take advantage of various sectors—including SBA lending—over the next 12 months. anticipates a low double-digit increase in its commercial lending in 2022. Quick Stat.

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Lending Community St. Louis Community Bank 158

Accenture

MAY 30, 2019

Credit card volume and receivables continue to grow amongst the top issuing banks for the first quarter of 2019; however, the growth rate of each has been slowing compared to prior years. Issuer scorecard ($billions)—Q1 2019. The post Q1 2019: US credit card issuer snapshot appeared first on Accenture Banking Blog.

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Cards US Taxes Apple 158

PYMNTS

MARCH 7, 2019

Bulgaria, for example, is moving quickly to implement the GDPR regulation for data transparency, with the country’s parliament passing amendments in early 2019. These security concerns are also prompting many payment providers and merchants, such as Mastercard , to rethink their approaches to privacy.

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Lending Regulation Regional Data 198

PYMNTS

JULY 29, 2020

The Tel Aviv Stock Exchange (TASE) has launched a new central blockchain securities lending platform in Israel, according to a press release — the first in the area. The project was started in March 2020 and tested lending transactions in the new platform.

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Bitcoin Lending blockchain System 141

PYMNTS

MARCH 15, 2019

Some of the largest global financial institutions are taking steps further into Mexico’s small business lending and finance space, the result of heightened competitive pressure imposed by FinTechs and alternative lenders in the market, reports in the Wall Street Journal said Thursday (March 14). ”

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Lending Fintech National Taxes 189

PYMNTS

OCTOBER 25, 2020

FinTech StreetShares , which works to aid financial institutions (FIs) in providing loans for small- to medium-sized businesses (SMBs), has secured $10 million in a funding round, according to a press release. StreetShares launched in 2019. Since January, the company has grown to 53 FI clients, nearly double what it had before.

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Lending Community Bank Community Fintech 160

PYMNTS

AUGUST 12, 2019

One area of impact is small business finance and lending, with small businesses and lenders seeing a slowdown in demand. Small business lending platform Funding Circle commented on this effect in its latest earnings data, noting that there has been “some deterioration” in its higher-risk small business loan bands in the U.K.

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Lending US Capital Data 144

PYMNTS

JULY 7, 2020

The small- to medium-sized business (SMB) lending industry is used to adaptation, especially since the 2008 financial crisis, when legacy financial institutions (FIs) began pulling back and FinTechs and digital players stepped up in the space. percent of SMB loans from January 2019 to April 2019, for example.

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Lending Study Industry Tools 138

Bank Innovation

JUNE 3, 2019

Bank, will participate in a fireside chat at Bank Innovation Build 2019, this blog’s event on best practices in banking innovation. Dominic Venturo, executive vice president and chief innovation officer at U.S. Bank Innovation Build will take place November 6-7 at Atlanta’s W Hotel Downtown. Register here.)

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Innovation Atlanta Industry social media 170

Abrigo

OCTOBER 17, 2019

On Spreadsheet Day 2019, Celebrate the App, But Acknowledge Its Limitations. With financial institutions having multiple users of spreadsheet data files with many tabs and complicated calculations, there are also numerous opportunities for version-control issues and questions about transparency and security. Credit Risk. Learn More.

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San Antonio Analysis Study Compliance 150

PYMNTS

DECEMBER 24, 2019

The fact was, then, blockchain was synonymous with crypto, and now, increasingly, blockchain has become divorced from digital coins, and championed for its ability to securely record transactions (where, at least conceivably, anything can change hands, from art to legal contracts) far beyond the confines of digital money. billion.

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blockchain Course Bitcoin Examples 139

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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Lending Fintech Risk Management Management 131

PYMNTS

NOVEMBER 3, 2020

3), stock exchanges in Shanghai and Hong Kong have suspended the looming IPO (initial public offering) in Ant Group, citing regulatory changes in the financial services landscape — and summoning executives including controller Jack Ma to meet with Chinese regulators at the China Securities Regulatory Commission.

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Lending Meeting Groups Regulation 199

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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Lending Fintech Data Wyoming 150

PYMNTS

SEPTEMBER 30, 2020

Securities and Exchange Commission (SEC) claims that a Florida digital currency trader purportedly bilked customers out of $6.8 The agency claimed that the defendant scammed investors between January 2018 and January 2019 as he purported to never finish a trading day with losses. million, CoinDesk reported. District Court.

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Florida Lending blockchain National 151

PYMNTS

OCTOBER 9, 2018

About a year ago, the CFPB, which now goes by the BCFP, dropped the final version of its payday lending regulations. Being compliant with these new regulations meant big changes to the payday lending process, including testing requirements to confirm a borrower’s ability to repay a loan on time while still meeting day-to-day expenses.

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Lending Regulation Groups Report 140

PYMNTS

OCTOBER 7, 2020

The firm will allow users to earn as much as 10 percent per annum of the lending service’s charge over a timeframe that spans a couple of weeks in October. Japan-based LINE rolled out its BITMAX digital currency exchange in 2019 once it obtained a license from Japan’s FSA, letting messaging app users access trading services.

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Bitcoin Lending blockchain cryptocurrency 171

PYMNTS

DECEMBER 30, 2019

In 2019, some online marketplaces took a page out of the sharing economy playbook for clothing. We want to be a peer-to-peer marketplace,” she said, adding that she wants to make it easy and secure to share clothes. In 2019, a clothing subscription service also bought a brick-and-mortar retailer. An Acquisition and a Hurdle.

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Retail Branding Company Washington 133

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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Security Groups Payments Regulation 134

PYMNTS

JANUARY 8, 2019

Australian alternative small business lender Prospa is hoping to start the new year off right, announcing that the company will adhere to the industry’s co-called Code of Lending Practice, a voluntary code for alternative lenders to promote fair terms and customer protections. Reports in Crowdfund Insider on Sunday (Jan.

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Lending Industry Compliance Fraud 123

PYMNTS

DECEMBER 28, 2018

It’s going to be a significant conundrum for banks servicing small businesses in 2019: how to cut costs and invest in digitization, while maintaining a strong relationship with clients and providing the advisory services they need. In 2019, it is about ensuring the FI has the right?

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Fintech Customer Experience Tools Technology 177

PYMNTS

JANUARY 23, 2020

The net effect will be that it may be harder for many Americans to qualify for loans — in an age, we note, where debt levels and personal lending have been on an upswing. Those changes tended to lift scores higher — and of course, the higher the FICO score, generally speaking, the easier it is to secure a loan. 23), Fair Isaac Corp.,

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Lending New York Cards Report 130

PYMNTS

JULY 21, 2020

Consumers are more likely to fall victim to fraudulent schemes when they assume there are stricter security measures protecting their P2P app transactions than there are in truth. Researchers in 2019 discovered an unsecured database containing more than 267 million records about Facebook users, including their full names and phone numbers.

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Security Fraud Payments Examples 151

PYMNTS

JUNE 24, 2020

billion) in April, more than five times higher than the same month in 2019, Janardana said Zopa would offer “competitive” interest rates. But it plans to avoid the interest-free introductory deals common among the nation’s credit card market. As savings deposits increased by £16.2bn ($20.2

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Security Capital Cards Report 215

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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Lending Alabama Online System 134

PYMNTS

DECEMBER 23, 2019

This year, 2019, the average American will spend three hours and 43 minutes per day on mobile devices, just ahead of the three hours and 35 minutes spent watching television. Scott Sanborn, CEO Lending Club. And Lending Club will change. Don’t Count Alternative Lenders Out Even If The Economy Hiccups. “We

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Lending National System Management 131

Abrigo

MARCH 15, 2022

They see that allowing members or customers to quickly open and fund accounts online: Creates a bridge to new commercial and consumer relationships and Offers a moat around existing relationships to protect them from competition Online account opening more than doubled at most banks between 2019 and 2020, according to the ABA Banking Journal.

Online 195

Online Lending Survey Digital Banking 195

CFPB Monitor

FEBRUARY 15, 2019

The CFPB has published its 2019 final lists of Rural and Rural or Underserved Counties on its website. The CFPB has also updated the rural and underserved areas website tool for 2019. The CFPB has previously posted lists of such counties for calendar years 2011-2018.

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Meeting Tools Security Lending 68

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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Samsung Digital Banking Security Fintech 243

PYMNTS

MARCH 25, 2019

A federal judge late last week ordered a stay on the August 2019 compliance date tied to the “ payday lending rule ” mandated roughly two years ago by the Consumer Financial Protection Bureau (CFPB).

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Lending Illinois Compliance Chicago 128

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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Lending Customer Experience US Capital 258

Abrigo

MAY 10, 2021

Knowing these elements of an LOS and an LOS vendor is critical for senior financial institution executives either shopping for an LOS for the first time or considering an improvement to their bank or credit union’s current business lending process. Lending process management is key to timely decisions. Workflow & Analysis.

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System Lending Analysis Software 195

PYMNTS

DECEMBER 27, 2018

But no matter what, millennials will certainly become an increasing force in payments and commerce in 2019 — a trend confirmed by PYMNTS research and reporting. As well, mobile plays a big role in fuel purchases and related tasks for millennials — a trend that promises to gain even more energy in 2019. Mobile Focus.

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Millennials Payments Mobile Retail 100

PYMNTS

SEPTEMBER 3, 2019

. “Starling understands that many SMEs want to manage their banking online as well as through mobile applications and to support this, it will launch its web portal in Q3 2019,” Starling wrote In its update. “Construction of this portal is underway and on track for launch in September 2019.”

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Lending blockchain Security Management 171

Abrigo

SEPTEMBER 14, 2022

Financial institutions, fintech companies, and other small business lenders will need to begin collecting a wide array of small business lending data under the Consumer Financial Protection Board’s (CFPB) proposed small business lending data collection rule. The proposed rule , unveiled Sept. They just weren’t coming very soon.

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Lending Data Regulation Community 195

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

FEBRUARY 23, 2020

The operation will likely include savings and lending products, and it comes just two years after U.S. Since leaving that role in 2015, he has worked in other capacities for JPMorgan, chairing its international business between 2016 and 2019. bank Goldman Sachs launched a digital bank called Marcus in the U.K.

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Digital Banking Lending Regulation Operations 255