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Why community banks should partner with fintechs

Independent Banker

A recent report by Cornerstone Advisors found that bankers are either strongly interested in or already working with fintechs in three main areas: digital account opening (71%), mobile wallets (41%) and fraud/risk management (47%). Fraud and risk management. Digital account opening. Think about it this way,” Potts says.

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15 Twitter accounts every bank executive should follow

Abrigo

His recent research reports have covered SMB lending, alternative lenders and automating commercial lending. 4) @KarenGMills – Former SBA administrator in the Obama administration, Mills is now a senior fellow at Harvard Business School, writing and Tweeting about small business, lending and fintech. Learn more here.

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Renaud Laplanche’s Second Act

PYMNTS

Which leads to the interesting case of Renaud Laplanche, the co-founder and former CEO of Lending Club and the co-founder and current CEO of online lender Upgrade. It’s reported that Upgrade’s loan volumes are growing and that it intends to add new asset managers to its roster over the next half year. Just ask any entrepreneur.

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Sizzle Or Fizzle: Walmart Pays Pays Off, Marketplace Lending Falls Off

PYMNTS

Walmart Pay released its six-month report card , with some pretty interesting stats: ubiquity at all 4,600+ stores, high usage, high repeat usage, rave reviews from their users and a growing crop of brand evangelists that, Walmart Pay execs say, have become an effective recruiting engine. Investor Confidence In Marketplace Lending.

Lending 101
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LendingPoint’s Loan Hero Acquisition To Expand Credit Options For 145M Consumers

PYMNTS

Talking with Karen Webster shortly before the news was announced, Burnside noted that the two firms stepped into the alt lending arena at about the same time. LendingPoint’s focus: near-prime customers who apply for credit online. Breaking New Ground. .

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Sizzle Or Fizzle: Restaurants Rule, FireEye Flounders And Lending Club Is Back On The List

PYMNTS

Upserve is said to have a fancy, slick restaurant management algorithm that could help Square Capital refine its own fancy, slick risk management algorithm to make better lending decisions. Its pitch to the family is to use their local Mastercard branded credit or debit card to make those payments. Online Lending.

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More Data, More To Do

Independent Banker

With competition from big banks, online banks and credit unions, the community banking sector must focus their efforts on what makes them unique: a local bank employing local people to serve the local customers.”. Lending, transaction data. Community banks generally do well in harvesting their lending data, Bhalla says.

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