CFPB Monitor

OCTOBER 11, 2018

At the Online Lending Policy Institute’s (OLPI) annual summit in Washington, D.C. earlier this week, the OCC’s recent decision to accept applications from non-depository financial technology firms for a special purpose national bank (SPNB) charter was the focus of considerable discussion. In her remarks and responses to questions, Ms.

Policies 60

Policies Lending Data Online 60

PYMNTS

JUNE 10, 2020

percent that can be drawn and repaid like a credit card, sources told the network. Our team exists to fuel seller growth, period,” Ragui Selwanes, head of Amazon Lending, said in a statement. Originally, Amazon considered creating an online marketplace where lenders would compete to offer SMBs credit, CNBC was told.

New York 179

New York Lending Maine US 179

CB Insights

FEBRUARY 13, 2020

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Stripe really did come about because we were really appalled by how hard it was to charge for things online.” — John Collison.

Online 98

Online Company Retail Payments 98

PYMNTS

SEPTEMBER 18, 2018

While In New York, New York…. As noted, too, the Department of Financial Services study that debuted over the summer shows that, in terms of online lending, the overwhelming majority of customers in New York state are individuals, not businesses. Open Banking, APIs In The UK.

Fintech 166

Fintech New York US National 166

PYMNTS

JANUARY 21, 2021

In terms of customers going online to bank, BofA added that digital sales accounted for 45 percent of all consumer banking sales for the quarter. In the home lending segment, the company saw two-thirds of applications done digitally. million during the quarter. Active digital banking users likewise grew 3 percent to 39.3

Mobile 252

Mobile Report Trends Digital Banking 252

PYMNTS

APRIL 29, 2019

Last week Robinhood, the company behind the free mobile trading app, filed an application to open an online bank that would be FDIC insured and offer high rates on savings and low rates on credit cards. Marcus, the online lending unit of Goldman Sachs, uses Infosys for its core banking platform, the report noted.

FDIC 112

FDIC New York Mobile Online 112

PYMNTS

AUGUST 11, 2017

“[Access to credit] is especially critical to these young firms who need funds to weather initial costs and grow,” Claire Kramer Mills, an assistant vice president at the Federal Reserve Bank of New York, said in a statement. We completed an online application, and our loan was approved immediately.”.

Lending 117

Lending Capital Video Online 117

PYMNTS

FEBRUARY 7, 2020

According to reports out earlier this week, Goldman Sachs and Amazon are in discussions about possibly partnering for small and medium-sized (SMB) business lending in the U.S. The partnership would apply Goldman’s lending technology to SMB loans on Amazon’s underwriting platform, according to unnamed sources.

Austin 131

Austin Lending Omaha New York City 131

PYMNTS

DECEMBER 7, 2020

In only the latest salvo, online payments firm Paysafe announced plans on Sunday (Dec. Paysafe plans to go public on the New York Stock Exchange with a $9 billion listing. 6) to go public via a SPAC named Foley Transimene Acquisition Corp II. And as reported by CNBC Monday (Dec.

Online 161

Online Marketing New York Report 161

Bank Innovation

DECEMBER 6, 2017

The New York-based Hypr announced today that it received an additional $2 million on a Series A funding, first announced in October 2017. Today’s round was led […].

New York 284

New York Technology Online Capital 284

Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. Since the pandemic started, Crowe says, more customers are opening online or mobile accounts and making remote payments. Online U.S. By Elizabeth Judd.

Fraud 160

Fraud Strategy Community Bank New York City 160

PYMNTS

JULY 27, 2020

The following Deep Dive examines how providers are expanding services and solutions to serve consumers purchasing in stores and online during the pandemic. Splitit also allows users to make payments from their credit card accounts and partnered with card services providers such as Mastercard and Visa to expand its reach.

Retail 146

Retail Google Apple New York 146

Gonzobanker

MAY 8, 2015

The annual LendIt conference was held last month at Times Square in New York City and GonzoLender descended boldly on the scene to evaluate the mysterious underbelly of digital lending. The lending attack on community banks and credit unions has been waged. LENDING VERTICALS. Consumer Lending.

Conference 60

Conference Lending Community Bank Community 60

PYMNTS

MAY 28, 2019

With abundant choices in many aspects of their lives, consumers expect a range of options when it comes to online shopping, ranging from picking out clothes to making travel plans. The company recently filed paperwork with the Securities & Exchange Commission (SEC) to go public on the New York Stock Exchange.

Apple 159

Apple Mobile Fraud Branding 159

PYMNTS

JULY 17, 2018

In one case at the state level (and it’s New York, so movement there carries much weight within the financial arena), Bloomberg reported that NY’s financial regulator is challenging what the newswire terms a “fundamental principle” on bank and FinTech relationships that brings interest rate caps into that regulator’s crosshairs.

Fintech 100

Fintech Regulation New York Management 100

South State Correspondent

JANUARY 4, 2023

Popular projects for 2023 include online loan and deposit onboarding utilizing third-party data to speed the process, compliance-as-a-service, payments, card controls, service case management, leveraging data for customer insights, and providing open banking APIs to customers. Yeah, that was a mistake. Those loans are now worth $0.85

Community Bank 195

Community Bank Capital Training Lending 195

Abrigo

JANUARY 22, 2015

Over the first half of 2014, these banks, with an approval rate of just under 60 percent, beat out large national banks (31 percent), large regional banks (45 percent) and online lenders (38 percent). While the approval rates are high and portfolios are expanding, the OCC did point out that lending standards continued to soften.

Community Bank 150

Community Bank Community Regional Cleveland 150

PYMNTS

JANUARY 22, 2020

Titled “Why the Future of Merchant Payments Requires a Digital-First Approach,” the webinar generally revolved around questions related to the development and ongoing rise of omnichannel commerce — already a major topic in the payments and commerce world in these first weeks of the new year. Shift Intensity. Trust Issues.

Retail 137

Retail Millennials New York City social media 137

Bank Innovation

MARCH 30, 2016

Finicity yesterday at FinDEVr here in New York launched TxPUSH to create a standard for financial data aggregation. Think of TxPUSH as the middleware of financial data. Finicity, launched in 1999, is one of the main purveyors of financial data, along with Envestnet Yodlee. The TxPUSH initiative is part of Read More.

Data 150

Data New York Maine Marketing 150

Independent Banker

DECEMBER 29, 2015

ICBA warns of risks of online marketplace lending models. Online marketplace lenders are a new form of nonbank specialty lending that uses technology platforms to allow Wall Street and individual investors to directly fund loans to consumers and small businesses. Typical Practices of Online Lenders.

San Francisco 70

San Francisco Lending New York City Online 70

PYMNTS

JUNE 28, 2019

The $1 million in Seed funding for India-based Recko will help the firm grow its payments reconciliation solution for companies in the banking, lending, insurance, eCommerce and telecom industries. 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

Independent Banker

DECEMBER 31, 2021

That’s followed by residential mortgage lending (36.3%), small business lending (32.1%), commercial and industrial (C&I) lending (30%) and agricultural lending (23.6%). will continue its mission to fund microloans to new small businesses in New York City’s low-income neighborhoods, says president and CEO Carlos P.

Community Bank 144

Community Bank Community Lending Louisiana 144

CB Insights

DECEMBER 4, 2019

We will be updating this brief on an ongoing basis as more relevant data, investments, news, and products are released. Amazon is notorious for spreading its bets before going all-in on a new product, and the financial services space is no exception. Table of Contents: Amazon’s product strategy. Amazon’s Next Financial Pillar.

Cards 101

Cards Lending Strategy US 101

PYMNTS

OCTOBER 20, 2018

If we had a nickel for every mobile wallet that had come and gone in that time period, we would at this point be larger than The New York Times. and was followed by the great cybercriminal migration to the web and card-not-present transactions. If this person can’t afford this, we won’t lend. 20, 2009. True in 2009.

Innovation 177

Innovation Payments Cards Retail 177

PYMNTS

JULY 15, 2016

Lending Club Algorithms . It is truly not our intention to call out Lending Club week after week in this column as a fizzle. But as someone said just the other day about Lending Club, just when you think there are no more shoes to drop, more shoes drop – and that there will always be more shoes. Really, since when?).

Retail 100

Retail FDIC Bitcoin Lending 100

PYMNTS

MAY 27, 2016

SME Lending. The Mexico-based online lending platform revealed an $8 million Series A funding round this week, a move that will help the company as it looks to strengthen Latin America’s SME finance game. “We will have more partnerships with banks to help with services like fraud and online payment protection.”

Capital 100

Capital Management Taxes Security 100

FICO

FEBRUARY 10, 2017

For all the differences between traditional banks and new online lenders, there is one business challenge that unites both groups: acquiring new customers. While online lenders experiment with offline marketing tactics, banks are aggressively ramping up their online marketing efforts, with total digital ad spend by U.S.

Online 40

Online Tools New York City Analytics 40

FICO

FEBRUARY 9, 2017

For all the differences between traditional banks and new online lenders, there is one business challenge that unites both groups: acquiring new customers. While online lenders experiment with offline marketing tactics, banks are aggressively ramping up their online marketing efforts, with total digital ad spend by U.S.

Online 40

Online Tools New York City Analytics 40

Fintech Labs Insights

AUGUST 12, 2016

If unanimously positive perceptions are the hallmark of a bubble, then rest assured that the alt-lending market has moved past that stage. So if there’s no bubble in the alt-lending part of the fintech universe, should we fear a bust? Looking at the P2P lending market in the U.K., OnDeck Defends Strategy After $17.9

Trends 12

Trends Lending Fintech blockchain 12

PYMNTS

OCTOBER 26, 2018

And though they shop in stores the majority of the time (with a strong online shopping presence), they are dedicated digital payers – around 28 percent of wearable device owners say they never use cash. Separately, the company agreed to a $65 million fine with the New York State AG over misleading investors about cross-selling tactics.

Samsung 134

Samsung Apple Study Report 134

Fintech Labs Insights

SEPTEMBER 21, 2015

HQ: New York City. HQ: New York City. Online investment platform. HQ: New York City. HQ: New York City. Risk management for P2P lending. HQ: New York City. HQ: New York City. Tags: Enterprise, lending, credit, underwriting, peer-to-peer.

New York City 12

New York City San Francisco Company Fintech 12

Fintech Labs Insights

APRIL 13, 2016

Ixaris landed $6 million for its prepaid card platform. Online & offline real estate broker. P2P lending platform. HQ: New York City. Prepaid card payments platform. Tags:Consumer, merchants, payments, POS, acquiring, debit/credit cards, mobile. Online stock trading game. Meili Jinrong.

New York City 12

New York City Company Fintech Minnesota 12

PYMNTS

SEPTEMBER 22, 2017

The stores will still stay open, but amid same store sales declines of more than four percent year over year, price matching with Amazon and revamping its online ops will likely be a tough row to hoe (recall that the company ended an exclusive arrangement to be Amazon’s toy vendor of choice back in 2004). Want to accept credit cards?

US 108

US Apple Innovation Regulation 108

Fintech Labs Insights

JUNE 6, 2016

Online financial advisor. Tags: Consumer, banking, payments, deposits, loans, debit card. Latest round: $188 million Debt (for AvantCredit UK). Total raised: $1.92 billion ($654 million Equity, $1.26 billion Debt). HQ: Chicago, Illinois. Source: Crunchbase. Bridge2Solutions. Incentive & rewards systems for financial institutions.

Company 12

Company Fintech San Francisco New York City 12

Fintech Labs Insights

JULY 12, 2016

Online insurance. HQ: Auckland, New Zealand. HQ: New York City. Prepaid debit card for youth. HQ: New York City. HQ: New York City. HQ: New York City. Tags: SMB, merchant, payments, POS, point of sale, credit/debit cards, acquiring. Latest round: $134.5 SeedInvest.

New York City 12

New York City Company Fintech San Francisco 12

Fintech Labs Insights

JUNE 16, 2016

Along with the usual payment and lending startups, two insurtech companies raised substantial rounds: Embroker ($12.2 SigFig brought in $40 million from a blue-chip lineup of financial institutions including Comerica, Santandar, and New York Life. EZBob landed a $25 million debt commitmen t to increase its SMB lending.

San Francisco 12

San Francisco Company South Carolina New York City 12

Fintech Labs Insights

MARCH 1, 2016

HQ: New York City. Mobile & online payments in India. Loyalty card platform. HQ: New York City. Online marketplace for real estate investing. HQ: New York City. Tags: Consumer, lending, loans, underwriting, Equitable Bank (investor). Latest round: Undisclosed Seed.

New York City 12

New York City Company Fintech San Francisco 12