Remove Capital Remove Fintech Remove Innovation Strategies Remove Lending
article thumbnail

Thai bank targets $1 billion spinoff among Its fintech units

Bank Innovation

Siam Commercial Bank Pcl plans to spin off some of its fintech divisions as it tries to monetize its push into technology investment at a time of sluggish earnings from traditional lending.

Fintech 221
article thumbnail

Join our ‘Fintech in the Age of Coronavirus’ Zoom meeting (Subscribers Only) 

Bank Innovation

How will banking and fintech business models be impacted by this unprecedented coronavirus pandemic? What is the role of innovation in response to these rapidly unfolding events? How will banks and startups work together?

Meeting 293
Insiders

Sign Up for our Newsletter

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

article thumbnail

European fintechs escape troubles afflicting established banks

Bank Innovation

European fintech companies raised $3.3 billion in venture capital in the first […]. When Swedish banking firm Klarna became Europe’s most valuable financial technology startup last week, it was only the latest sign that digital finance has escaped the troubles afflicting legacy lenders. billion valuation.

Fintech 170
article thumbnail

OnDeck’s low price tag may signal problems for fintech lenders

BankInovation

This year continues to see major fintech acquisitions. Enova International announced yesterday it will acquire the small business lending fintech OnDeck for “approximately $90 million” in a deal the companies expect to close this year. In a year that has seen major deals like Visa acquiring Plaid for $5.3

Fintech 64
article thumbnail

How Challenger Banks Are Giving Legacy Players Key Opportunities

PYMNTS

Such institutions are working to raise the necessary capital to expand their products and customer bases as they enter new markets. Legacy Banks and the Innovation Game. Warder believes that both legacy and challenger banks have the same impetus for innovation and technological experimentation: customer engagement and satisfaction. .”

article thumbnail

Santander InnoVentures bets on SME fintech lender

BankInovation

Santander Group’s venture capital fund, Santander InnoVentures, has deepened its presence in Latin America with its fourth investment in the region, this time funneling $5 million in a Series A funding round into a55, a niche alternative SME lender, the VC firm announced in a release last week.

Fintech 69
article thumbnail

Fraud risk could run to billions in PPP loans

Bank Innovation

Last week saw banks and fintechs scrambling to stand up platforms to process Paycheck Protection Program loans, and now the struggle is to keep the platforms running while weeding out potentially fraudulent applications. Fraud is a common trend with government relief programs.

Fraud 335