article thumbnail

Wells Fargo Stops Lending Services For Some Used-Car Dealers

PYMNTS

The bank confirmed that it would no longer be accepting loan applications from independent shops, which sell used cars a lot of the time as opposed to the brand-new models sold by bigger dealers. On Monday (June 1),Wells Fargo announced new hires for a risk-management team.

Lending 130
article thumbnail

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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.

article thumbnail

From CRE to Corporate Culture – BIG Ideas from 2020 ThinkBIG: Manage Risk. Drive Growth.

Abrigo

A signature feature of the ThinkBIG conferences is the ability for attendees to view the latest Abrigo innovations and learn how such technologies can improve community financial institutions’ efficiency and risk management. All of that keeps encouraging us about the brand.” . CRE Lending. Lending & Credit Risk.

article thumbnail

FinTechs, FIs Uniting Over Distributed Banking For Disbursements

PYMNTS

That’s distributed banking, a FinTech model that “remains invisible and never enters into a customer relationship with the end user but rather facilitates the technology, payment choices, risk management and customer experiences necessary to delight everyone in the value chain.”. Challenge And Opportunity For Lenders.

Fintech 130
article thumbnail

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. Lending Hero’s focus: prime customers acquired through physical channels, such as doctor’s offices and dental practices, to name a few. Breaking New Ground. .

Lending 108
article thumbnail

The BaaS Gold Rush is On

Gonzobanker

To do this, banks can leverage their competencies in payments, lending, operations, and risk management while using the earnings generated from BaaS to transform their core business. Winning BaaS banks will hitch their stars to the fintechs, brands, and challenger banks that can scale their users, transactions, and products.