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Bad Actors Emerge in PPP Lending – More Expected as Forgiveness Guidance Emerges

Abrigo

As expected, bad actors are surfacing, and financial crimes divisions of community financial institutions are struggling with the realization that loans rushed through may be fraudulent. In the case of the two men in Rhode Island, there were several red flags pointing to fraud. Industry officials warn it won’t be the last.

Lending 195
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The Digital Evolution Of The Online Gaming Ecosystem

PYMNTS

Late last year, DraftKings reported $213 million in 2019 revenue and control of about 60 percent of the market, indicating that the industry as a whole had revenue north of $350 million – and that’s only counting the direct revenue brought in by wagers. The firm entered the public markets with a valuation of $3.3

Online 134
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How Charitable Giving Boosts Online BNPL Sales, Customer Engagement

PYMNTS

Ninety-four percent of consumers believe companies need to do more than just earn profits — they expect them to give back to social causes in their communities and in the world at large. But like the market, and like the country, we are changing as well,” Smith said. “We Charitable donations have also proven to boost sales.

Online 142
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Season of Giving: How Financial Brands Are Leaving Their Mark

Social Assurance

The holidays are a time when communities come together to support each other and celebrate the bonds that bring us together. Through it all, community banking institutions have been there to support their neighbors. Covid-19 impacted every community across the nation and the world. The season of festivities. Give Financially.

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23 VC-Backed Brick & Mortar Startups Changing The Face Of Main Street

CB Insights

As internet retailers are expanding their operations into brick-and-mortar operations (think Warby Parker, Argent, Bonobos, and BaubleBar ), venture capitalists are also investing in “physical-first” startups focused on creating new brick-and-mortar business models. Funding and investor information is as of 9/6/17. .

Maine 70
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How Big Tech Is Finally Tackling Cybersecurity

CB Insights

Its market cap seemed unaffected until July 2018, when Facebook lost around 20% of its value in one day off of news of slowing user growth. However, it’s spending time focusing on securing its smart home capabilities, especially as the smart speaker market has exploded and is projected to continue to grow over the next five years.

Google 76
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121 Of The Biggest, Costliest Startup Failures Of All Time

CB Insights

But a few common threads do emerge, such as an inability to generate sustainable revenue, bad product-market fit, losing to competitors, and (of course) simply running out of money. Australian music streaming company Guvera has reportedly stopped operating, with its co-founder and biggest financial backer walking away from the project.

Capital 78