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Square revises credit risk model for its SMB lending program

Bank Innovation

An update to Square’s credit risk model for its Square Capital commercial lending product — first disclosed yesterday — was “a key driver of Capital’s outperformance in the fourth quarter,” the company said. The advancement of Capital is key for Square as it continues to grow the fast-growing — and lucrative — lending product.

Lending 284
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MoneyLion names Samantha Roady COO in preparation for ‘exponential’ customer growth

Bank Innovation

Roady, who has been on MoneyLion’s board of directors since 2016, was previously a founding partner at GAIN Capital and president of its global retail brokerage business. She told Bank Innovation that her […].

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Fifth Third Links Rejected Business Borrowers To Alt-Lender

PYMNTS

To offer expanded services as it pursues a digital innovation strategy of harnessing partnerships to provide an enhanced customer experience, Fifth Third is teaming with Fundation for small business loans. Companies that lack access to capital are not able to grow their operations or have had to cut their headcounts.

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Inside Look: The meteoric rise of point-of-sale lending in the U.S.

BankInovation

economy began to show signs of recovery after the initial shockwaves of the Great Depression, General Electric launched a point-of-sale lending product to provide cash-strapped customers with installment loans so the manufacturer could sell its product. Since we spun out of GE Capital five years ago, we’ve just […].

Lending 98
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Amex acquires Acompay to bolster lending business

Bank Innovation

American Express acquired business-to-business payment company Acompay this week, allowing the company to automate the accounts payable process for business customers. The acquisition comes at a time when large institutions are looking to grow their business clientele through new underwriting tools and other technology.

Lending 170
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Join our ‘Fintech in the Age of Coronavirus’ Zoom meeting (Subscribers Only) 

Bank Innovation

What is the role of innovation in response to these rapidly unfolding events? For insights into these questions, Bank Innovation and INV Fintech, its sister banking innovation services platform, will present a special Zoom meeting on […]. How will banks and startups work together?

Meeting 293
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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. .