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LendingClub breaks ground with Radius Bank acquisition 

Bank Innovation

LendingClub, the publicly traded digital-lending marketplace, announced Tuesday that it is acquiring Boston-based Radius Bank, which has $1.4 billion in assets and is partnered with several fintech companies. LendingClub will pay $185 million for the acquisition, which the company expects to pay for itself in less than two years.

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Fed’s Rosengren: Even With Positive Job Numbers, US In ‘Significant Recession’

PYMNTS

Despite a better than expected job report, Boston Federal Reserve President Eric Rosengren told CNBC a full recovery is impossible until COVID-19 is under control. “We For its part, the Fed has tried to help the recovery by keeping short-term interest rates at near zero and offered a series of lending and liquidity programs.

US 194
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Chase Plans Expansion In Top US Markets In 2019

PYMNTS

Chase has announced it is expanding its retail footprint into nine of the top American markets, as well as opening dozens of new locations in the greater Washington, D.C area, Philadelphia and Boston. Chase plans to open 90 new branches and hire 700 employees by the end of 2018.

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SWIFT Warns India Of ‘Unprecedented’ Rise In Corporate Loan Defaults

PYMNTS

In a statement at the time, the FI’s CEO, Rana Kapoor, said the B2B payment landscape was in the midst of a “tectonic shift with the influx of new financial technologies revolutionizing the way banking services are offered to corporate and retail customers.” Rising Risks, Demand For Digitization: A Double Threat.

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Amid Blockchain And Robotics Hype, Corporate Lenders Still Start With The Cloud

PYMNTS

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.

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Celent Model Bank Awards 2017: Banking Products Innovation

Celent Banking

Lending Product — for the most impressive consumer or business lending or collections initiative. Lending: Possibly threatened by alternative lenders, banks in this sub-category are improving the speed and convenience of loans for micro and small businesses.

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Celent Model Bank Awards 2017: Banking Products Innovation

Celent Banking

Lending Product — for the most impressive consumer or business lending or collections initiative. Lending: Possibly threatened by alternative lenders, banks in this sub-category are improving the speed and convenience of loans for micro and small businesses.