PYMNTS

JUNE 12, 2018

In the early days of online lending, the big appeal was access to funds for potential borrowers with few, if any, options for securing capital. They all had a pretty tough time and took losses a lot more than expected,” said Henry Song, a portfolio manager at Diamond Hill Capital Management Inc.

Lending 116

Lending Security Philadelphia Dallas 116

PYMNTS

AUGUST 2, 2020

needed financial help in April as the pandemic led to a loss of customers, founder Pavia Rosati turned to her bank, Capital One Financial Corp., But the New York consulting firm was on its own because Capital One wasn’t prepared to accept applications for the Paycheck Protection Program (PPP) when it launched.

Minneapolis 173

Minneapolis Denver New York Capital 173

PYMNTS

MAY 25, 2016

As the dust continues to settle from the great Lending Club explosion, the big banks of Wall Street are reportedly inking up their Plan Bs when it comes to exposure to those loans should the market deteriorate more. “This is noise banks want to avoid,” said Allard, who heads FireBreak Capital, a hedge fund that focuses on lending.

Lending 100

Lending Online Capital New York 100

PYMNTS

SEPTEMBER 17, 2020

The new initiative will include “concentrated investments that will focus on providing Black-owned businesses and Black people access to affordable financial tools and capital,” Mastercard said in a news release. Mastercard said it will invest $500 million in Black communities across the U.S. This is a time for action.

Community 282

Community St. Louis Los Angeles Ohio 282

Abrigo

SEPTEMBER 16, 2015

Member business lending (MBL) has been a hot topic in the financial services community this summer, particularly as the industry awaits finalization of the NCUA’s rule changes. stands as the number one in MBL – more than doubling the second-ranked CU for business lending. The New York City-based institution offered members nearly $1.8

Lending 150

Lending New York City New York Strategy 150

PYMNTS

JULY 2, 2020

With the pandemic nudging businesses further into the digital payments realm, commercial card innovation is heating up to capitalize on the opportunity for adoption. ” Capital On Tap Enables Receipt Bank Card. Capital on Tap wields the commercial card to connect small and medium-sized businesses (SMBs) to financing.

Cards 208

Cards New York Capital Compliance 208

PYMNTS

JULY 12, 2018

New York’s Department of Financial Services is recommending that online lenders are subjected to the same scrutiny and regulations that traditional banks face. Cuomo on June 1, 2017, required DFS to study online lending in New York State and submit a report of its findings. A bill signed by Governor Andrew M.

Online 100

Online New York Lending Regulation 100

PYMNTS

DECEMBER 13, 2019

Venture capital (VC) is far from the only funding source for B2B FinTechs. Despite a growing array of options, venture capital remains a solid funding source for B2B FinTechs, with this week’s roundup accumulating $104.4 The solution provides a short-term working capital solution by financing unpaid invoices at a discount.

New York 130

New York Capital Fintech Leadership 130

PYMNTS

AUGUST 5, 2020

Rocket Companies, the parent of mortgage lending giant Quicken Loans , reduced its terms to go public, Bloomberg reported. If approved, Rocket would be listed on the New York Stock Exchange, under the ticker “RKT.”. The report stated the downsizing may signal the IPO market’s worry as the pandemic deepens across much of the U.S.,

Cleveland 233

Cleveland Detroit New York Company 233

PYMNTS

SEPTEMBER 27, 2020

Lightyear Capital , the New York-based private equity firm working in the fields of financial services, has established ProfitSolv to acquire integrated solutions for billing, payments and software services, a press release says. According to the press release, the addressable market for payments solutions is around $1.4

Payments 160

Payments Software New York Capital 160

PYMNTS

SEPTEMBER 19, 2018

At Recode’s annual Code Commerce conference in New York on Tuesday (Sept. In addition, eBay announced in July that it will begin offering merchants up to $100,000 in financing through Square Capital. Square is in consideration of offering traditional banking services through its peer-to-peer (P2P) payment app.

Capital 174

Capital New York Conference Lending 174

PYMNTS

JULY 14, 2020

In addition to its core POS lending business, Affirm branched out into financial services in June, debuting a high-yield savings account called Affirm Savings. In May, the New York-based FinTech cut a deal with payments platform Stripe , giving consumers more credit to access at checkout. The account comes with 1.30

Lending 130

Lending FDIC Minneapolis Utah 130

PopularBank

JANUARY 28, 2022

We are thrilled to welcome Adam Dejak as National Director of Residential Lending for Popular Mortgage. Based in New York, Adam will oversee our residential mortgage lending 1 business and will be responsible for driving growth and development of the entire program, cultivating talent, and continuing to expand our mortgage loan options.

New York City 52

New York City New York Lending National 52

PYMNTS

SEPTEMBER 28, 2020

He said the company’s new owners include PIMCO, a California-based global investment management firm, Davidson Kempner Capital Management LP, a global institutional alternative investment management firm headquartered in New York City and Sixth Street Partners, the San Francisco global investment firm.

San Francisco 139

San Francisco New York City Houston Dallas 139

PYMNTS

SEPTEMBER 4, 2020

The company said it would use the investment to expand its product features with a focus on its automated lending infrastructure, and noted it will now include ACH processing in its offering. Honcho plans to deploy the investment towards new hires and invest in its product roadmap.

New York City 151

New York City Capital Colorado Software 151

South State Correspondent

JANUARY 4, 2023

Because many banks are now producing below their cost of capital, growth further exacerbates their issues and drives them out of business (likely through a sale) faster. Without the windfall of profit accrued to banks in 2022 because of faster-than-expected rate increases, banks will need to be better allocators of capital.

Community Bank 195

Community Bank Capital Training Lending 195

PYMNTS

SEPTEMBER 19, 2017

Online lender and tech startup Social Finance (SoFi) made recent news when its chief executive officer, Mike Cagney, stepped down following a lawsuit regarding claims of sexual harassment. billion | Total venture capital funding raised by investors like Baseline Ventures, Discovery Capital and SoftBank.

Data 100

Data New York Capital Lending 100

PYMNTS

JANUARY 12, 2021

Plus, Pilot Company collaborates on fleet factoring, Revolution Payments launches Level III commercial card processing and Porter Capital launches new PPP funding tools. Porter Capital Offers New Funding Tools To PPP Recipients. About 300 SMBs Received Less Than $99 In PPP.

Arkansas 152

Arkansas New Jersey Oregon Capital 152

PYMNTS

AUGUST 12, 2019

Taylor also previously worked at Capital One, Chase Manhattan Bank and JPMorgan. 26, and she will be based in New York City. Last month, Wells Fargo also added four new executives to its roster. She graduated from Spelman College and earned her MBA from The Wharton School at the University of Pennsylvania.

New York City 179

New York City Pennsylvania New York Community Bank 179

PYMNTS

APRIL 28, 2017

Good news emerged from the U.S. venture capital sphere this week: VC funding for FinTech startups in Q1 alone hit $1.2 billion, found a new report from KPMG. Analysts said the industry has seen its highest venture capital activity since Q1 of 2016, fueled by focus on late-stage investment rounds. According to KPMG’s U.S.

Fintech 192

Fintech San Francisco Capital Software 192

PYMNTS

JUNE 28, 2019

Corporate travel and expense (T&E) management solutions provider TripActions led this week’s B2B venture capital roundup with its announcement of new funding that propelled its valuation to $4 billion. Small business lending startup Lulalend is driving alternative finance growth in South Africa, and just announced $6.5

Capital 108

Capital Analytics San Francisco Lending 108

PopularBank

JUNE 1, 2021

Popular Bank Senior Vice President and Head of Commercial Banking Ken Mitchell joined fellow industry leaders to discuss commercial real estate insights during the virtual Mortgage Bankers Association of New York ( MBA of NY ) Lender Roundtable on May 11, 2021. Shifting Portfolio Management and Underwriting Best Practices.

New York 52

New York New York City Lending Industry 52

PYMNTS

APRIL 22, 2019

Might banks be making inroads into the hearts and minds of smaller firms as they seek out capital – as some SMBs cite at least some dissatisfaction with non-banking lending conduits? In addition, the relatively higher online lending rates come against a backdrop of what we might term a bit more caution about non-traditional lending.

Study 122

Study Lending Online Survey 122

PYMNTS

DECEMBER 15, 2017

By now, the alternative lending market is hardly new, and investor appetite for startups in the space seems to have waned. This week, alternative finance companies raised more than $77 million in venture capital funding, accounting for nearly 70 percent of total funds raised by B2B FinTech startups this week. SMB Finance.

Fraud 115

Fraud Capital New York City Lending 115

CB Insights

JANUARY 20, 2022

The round drew participation from GGV Capital, American Express Ventures, Coatue Management, and Franklin Templeton, among others. New York-based Pinwheel helps fintech companies and financial institutions manage direct deposits, verify income and employment information, and streamline other payroll processes.

New York 51

New York Lending Fintech US 51

PYMNTS

MARCH 31, 2020

COVID-19 is spurring firms that rely on consumer spending, and on lending to finance big-ticket purchases, to invent new ways to keep business flowing – with a nod to the fact that the uncertain economic impact of the virus may hurt consumers’ near-term ability to pay for those items. Necessity, as they say, is the mother of invention.

Houston 141

Houston Lending New York Examples 141

Abrigo

AUGUST 3, 2017

The FDIC paper The Entry, Performance, and Risk Profile of De Novo Banks published in April 2016 reports that the number of de novo bank failures and acquisitions annually has drastically declined since 2010, primarily due to the fact that new bank formations have become nearly inexistent. A low interest rate environment 2.

Oklahoma City 150

Oklahoma City FDIC Handbook Oklahoma 150

PYMNTS

NOVEMBER 22, 2019

Talk of a decelerating FinTech venture capital market continued to mount this week with reports that digital banking startup Aspiration is struggling to raise money. Venture Capital Funding. raised $10 million from SEB Bank and Seed Capital for its commercial card technology. Cardlay, based in the U.K., Also in the U.K.,

Strategy 109

Strategy Fintech Capital Lending 109

CFPB Monitor

OCTOBER 11, 2018

At the Online Lending Policy Institute’s (OLPI) annual summit in Washington, D.C. Gardineer raised concerns about the application of bespoke capital, liquidity, and risk management requirements for SPNB charter applicants. For an analysis of the DFS lawsuit, click here.). In her remarks and responses to questions, Ms.

Policies 60

Policies Lending Data Online 60

Jeff For Banks

MAY 20, 2017

and New York Community Bancorp called off their planned merger. Today, I read an American Banker article on how a multi-billion dollar bank is going to ramp up its business lending. To remind readers, in 2006 the OCC, Federal Reserve, and FDIC issued joint interagency Guidance on Concentrations in Commercial Real Estate Lending.

Lending 60

Lending Regulation Community Community Bank 60

CFPB Monitor

FEBRUARY 10, 2021

With regard to fair lending enforcement, the letter highlights two developments: The FTC brought one fair lending enforcement action in 2020 in federal court against a New York City car dealer and its general manager. Capital One, N.A. Currently, no information is publicly available about this new group.

Report 78

Report New York City Lending Regulation 78

CB Insights

OCTOBER 21, 2018

Top VC Investor: Ribbit Capital is the top investor in Fintech 250 companies, having backed companies on the list including new 2018 unicorns, Nubank, Revolut, and PolicyBazaar as well as returning Fintech 250 companies Robinhood , Wealthfront , Gusto , Coinbase , Cross River Bank , and Upgrade. Business Lending & Financing.

Fintech 78

Fintech Lending Capital Analytics 78

PYMNTS

DECEMBER 7, 2020

Paysafe plans to go public on the New York Stock Exchange with a $9 billion listing. However, it trails two other SPAC deals: the $16 billion United Wholesale merger with Gores Holdings IV, and the MultiPlan merger with Churchill Capital for $11 billion. 6) to go public via a SPAC named Foley Transimene Acquisition Corp II.

Online 161

Online Marketing New York Report 161

PYMNTS

MAY 27, 2016

Some focus on specific verticals, like restaurants; Some take unique routes to enterprise security, from password management to email protection. SME Lending. The B2B venture capital roundup this week is flush with startups providing services to other corporates that, in one way or another, impact the business’ bottom line.

Capital 100

Capital Management Taxes Security 100

Jeff For Banks

DECEMBER 9, 2020

On October 29, 2020, the New York State Department of Financial Services (DFS) issued a letter to all depositories and non-depositories regulated by them regarding climate change and financial risks. Start integrating the financial risks from climate change into governance frameworks, risk management processes, and business strategies.

Lending 78

Lending Regulation Community National 78

PYMNTS

FEBRUARY 20, 2018

That by itself isn’t worrisome news: Credit can be useful leverage if used correctly. But the data indicates that for an increasing number of users, debt is not being managed correctly. Late payments and out-and-out defaults and charge-offs are on the rise across a few lending segments. Rising Consumer Debt.

Lending 105

Lending Cards America New York 105

PYMNTS

APRIL 8, 2016

The alternative lending boom of yesteryear secured impressive amounts of attention, and dollars, from venture capitalists towards the FinTech startup industry. It means investors have quieted their funding via venture capital and IPO backing. Alternative Lending. We break down the investments below.

Fintech 100

Fintech Software Capital Lending 100