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Why Two-Thirds Of SMBs Find Themselves Dissatisfied With Online Lenders

PYMNTS

As diverse as they may be, they share a few common characteristics: an automated online application process, the use of proprietary algorithms to determine creditworthiness and a focus on speed and inclusivity. On that score, online lenders have been successful, according to a just-released study from the Cleveland Federal Reserve.

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Fed: Two-Thirds Of SMBs Say They Are Dissatisfied With Online Lenders

PYMNTS

As diverse as they may be, they share a few common characteristics: an automated online application process, the use of proprietary algorithms to determine creditworthiness and a focus on speed and inclusivity. On that score, online lenders have been successful, according to a just-released study from the Cleveland Federal Reserve.

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New Study Suggests Online Lenders Target Vulnerable Consumers

PYMNTS

The Federal Reserve Bank of Cleveland issued new research on the online lending market showing that borrowers end up in more debt than consumers who don’t utilize this method of borrowing. The researchers used data from TransUnion for the study, pinpointing 90,000 borrowers who took out online loans from 2007 to 2012.

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eCommerce Numbers Spike Across Categories

PYMNTS

The most dramatic category has been online gaming, which spiked 97 percent. Long-term, we and others in the industry predict that the shift in consumer behavior – opting for online purchases – is likely to outlast the crisis,” said Debbie Guerra, executive vice president of ACI Worldwide.

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Warehouse Space Going For Premium Rates

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Brick-and-mortar merchants are far from being free from the problems that plague their particular brand of retail, but even they have to look at online retail rising rents for warehouse space with a little bit of mirth. As of Q2 2016, industrial warehouse space declined by 8.8 percent — the lowest such figure since 2001.

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How Banks Have Adapted Their Digital Banking Systems To Serve Customers During The Pandemic

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Branch visits are vital to customers’ financial lifestyles, despite mobile and online banking’s growing popularity. One bank working to ensure its in-branch systems match its online capabilities is Cleveland, Ohio-based KeyBank , which operates 1,197 branches across the country and handles more than $137 billion in assets.

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KeyBank On Digitizing In-Person Services With Data Analytics

PYMNTS

The FinTech has enabled free access to its Temenos Learning Community Online platform. Temenos is also providing free access to its online sandbox environment so that banks can test new technologies in a controlled space. Deep Dive: Banks Harness Digital-First Technology To Weather The COVID-19 Storm.

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