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5 Big reasons to go digital with SMB & commercial lending

Abrigo

Automating SMB and commercial lending elevates your customer's experience From making it easier to apply to speeding up loan closings, automation can helps make business lending customers and staff happier. APIs and digital doc prep ease the workload on your SMB and commercial lending staff, too. . Digital lending.

Lending 195
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Fintech Deals to Watch: Growing in the Digital World

Gonzobanker

Mark Cuban is tweeting about Jill Castilla’s fintech efforts with lending system startup Teslar. Digital Security. Chime, Square, and Rocket’s methods are case studies in how to grow a business (fintech or otherwise) now. Fintech investing has gained near sport status. Bank CEOs are looking at fintech investment rounds.

Fintech 210
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How Lime Is Using Payments To Win The Global Scooter Race

PYMNTS

It’s what makes sellers feel comfortable with lending their personal properties to buyers whom they have never met. The Outdoorsy platform enables America’s approximate 18 million RV owners to lend their vehicles during the 97 percent of the time that they sit unused on the front lawn. Trust keeps the sharing economy afloat.

Payments 145
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CoPilot for Banks – 7 Steps Before Integrating Generative AI

South State Correspondent

The bank will adopt a “security and privacy first” approach and needs to test how the various Copilots will be used securely and in a controlled manner. A pilot will first focus on the following specific use cases: (e.g. email productivity, spreadsheet assistance, code development productivity, etc.). AI handled 2.3

Training 195
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10 Lessons We Learned at the Nacha Smarter Faster Payment Conference

South State Correspondent

The rule would require disclosure of interest rates and fees on overdraft loans, thus closing the current loophole in overdraft loans from the Truth in Lending Act. Banks with open banking ambitions should adopt this language standard to increase interoperability, efficiency, security, and customer experience.

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Helping credit unions grow organically: Proper software implementation & integration

Abrigo

The implementation of lending software, like that provided by Sageworks to community banks and credit unions, requires a similar, systematic approach for onboarding. Subsequent to the scoping call, Sageworks offers clients a customized and automated data transfer that securely connects their core system to their Sageworks account.

Software 150
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FTC files lawsuit against merchant cash advance providers for alleged unfair and deceptive practices

CFPB Monitor

In May 2019, the FTC held a forum , “Strictly Business,” that explored small business lending practices, regulations, and policies. The forum consisted of three panels: (1) Overview of the Small Business Financing Marketplace, (2) Case Study on Merchant Cash Advances, and (3) Consumer Protection Risks and the Path Ahead.