PYMNTS

MARCH 20, 2020

FinTechs continue to push the envelope to see how far open banking frameworks can go in improving the SMB banking experience, and increasingly, SMB lending is shifting to the center of these collaborative efforts. “Regulation around open banking has certainly been of great benefit to businesses in the U.K., In the U.K.,

Lending 233

Lending Data User Experience Fraud 233

PYMNTS

AUGUST 16, 2019

15) that Hong Kong authorities have reportedly opened an investigation into Chinese banks operating in the city. Unnamed sources told the publication that Citic Bank International has similarly tamed its efforts to expand investment banking operations.

Lending 148

Lending Regulation Operations Analysis 148

Perficient

JULY 12, 2023

Perficient provides risk management to more than 500 financial services organizations, many of whom have multiple bank regulators. Often an organization will have a state-charted non-member bank, which has the FDIC as its primary federal regulator. The complete 60+ page guidance is available to readers here.

Management 221

Management Risk Management Regulation Compliance 221

PYMNTS

SEPTEMBER 18, 2019

Indonesian peer-to-peer lending platform JULO is closing its Series A2 funding round with $15 million raised, after extending its initial $5 million Series A funding by an additional $10 million, according to a report. The company is able to offer low rates because it uses its own credit scoring system that utilizes alternative data.

Lending 140

Lending Fintech Capital System 140

PYMNTS

NOVEMBER 3, 2020

3), stock exchanges in Shanghai and Hong Kong have suspended the looming IPO (initial public offering) in Ant Group, citing regulatory changes in the financial services landscape — and summoning executives including controller Jack Ma to meet with Chinese regulators at the China Securities Regulatory Commission.

Lending 199

Lending Meeting Groups Regulation 199

PYMNTS

OCTOBER 1, 2019

India-based financial services provider Reliance Capital has announced it will exit the lending market. Anil Ambani , group chairman of the non-bank financial company (NBFC), revealed the firm’s plans on Monday (Sept. Last month Bloomberg reported that NBFCs in India have issued $1.5

Capital 109

Capital Lending Regulation Operations 109

PYMNTS

MARCH 12, 2020

But the latest initiatives reveal a growing interest in transforming internal processes, particularly among smaller banks looking to upgrade their core infrastructure and elevate small business lending operations. Integrating directly into core technology means even deeper automation, the companies noted.

Lending 194

Lending Risk Management Fintech Community 194

PYMNTS

DECEMBER 30, 2019

30) said a lack of regulation in the online SMB lending arena is raising concerns over sky-high fees and interest rates, sparking a bigger conversation about expanding borrower protections beyond consumers. are operated by sole proprietors with no other employees. But recent reports in the Wall Street Journal Monday (Dec.

Lending 131

Lending Online California New York 131

PYMNTS

JULY 22, 2016

It feels like 2014 again with the ongoing popularity of alternative lending startups. It’s even more surprising given that 2016 could be the year that regulation begins to really kick in for these lenders — in the U.S., Alternative Lending. Find out how the more than $26.5 MarketInvoice. Redis Labs.

Lending 100

Lending Regulation Big Data Risk Management 100

Abrigo

MAY 15, 2020

Their loan requests, according to court documents, were made to pay employees for a business that was not operating at the time of pandemic and had no salaried employees. Ruth’s Chris Steakhouse, Shake Shack, and the Los Angeles Lakers made headlines last month when they, along with other public companies, received the small business loan.

Lending 195

Lending Rhode Island Fraud Los Angeles 195

PYMNTS

MAY 24, 2019

Baoshang Bank, based in Inner Mongolia, will be taken over by China’s banking and insurance regulator over critical credit risks, according to a report by Reuters. The China Construction Bank (CCB), based in Baotou, will handle the bank’s business operations.

Regulation 158

Regulation Lending Guidelines Maine 158

PYMNTS

NOVEMBER 1, 2018

In any new technology arena, companies are born, they rise, they fall, sometimes with breathtaking speed. Regulations take shape, usually quite a bit more slowly. Online lending had some restrictions in place, where there could no longer be guaranteed returns and lenders could not cover losses via guarantees.

Lending 150

Lending Guidelines Fintech Industry 150

PYMNTS

OCTOBER 31, 2019

Shanghai regulators are ordering more than 40 peer-to-peer (P2P) lenders to get ready to close shop, the Financial Times (FT) reported on Thursday (Oct. Authorities are giving P2P companies time to wrap up their business affairs, but “the ultimate goal is zero on the balance sheet,” a source told FT.

Regulation 100

Regulation Lending Meeting Fraud 100

PYMNTS

JULY 31, 2019

China’s banking regulation is in-flux. As watchdogs ramp up oversight of financial institutions and FinTechs, late last year the China Banking and Insurance Regulatory Commission also announced plans to relax restrictions on foreign ownership of banks operating in the country.

Lending 134

Lending Policies National Guidelines 134

PYMNTS

FEBRUARY 25, 2019

The panel, which traces its genesis back two years, is comprised of two groups, focused separately on lending and payments, and is in turn part of CSBS Vision 2020. “As We have formed a working group of state regulators to develop the model. Our FinTech industry advisory panel did include a few community banks.

Regulation 147

Regulation Fintech Community Bank Community 147

PYMNTS

JANUARY 17, 2020

Sezzle , the California-based alternative payments lender, announced Thursday that it was finally approved by the state’s Department of Business Oversight ( DBO ) for a lending license. The DBO’s approval means that Sezzle can now continue to operate seamlessly in the state and continue to act as the leading U.S.-based

California 130

California Lending Trends Payments 130

PYMNTS

SEPTEMBER 3, 2019

regulations have been working to elevate business banking competition and expand access to capital for corporate and SMB borrowers, but the latest reports from the government suggest those efforts are falling short. billion decline in net lending to companies in the month driven by the $2.43 31) said the central bank found a $5.1

Lending 116

Lending Meeting Capital Industry 116

PYMNTS

AUGUST 30, 2018

29) that the government’s efforts to spur small business lending by pumping money into the financial services market has yielded only modest success. The publication pointed to the government’s conflicting policy of stricter lending rules as one reason why efforts to boost small business loan volumes hasn’t taken off.

Policies 100

Policies Lending Regulation Community 100

PYMNTS

JANUARY 7, 2021

China’s Ant Group is mulling the creation of a new consumer loan unit that would allow it to continue making loans throughout the country while complying with new Chinese banking regulations. Ant currently has two lending units that handle consumer loans, Huabei and Jiebei. China TransInfo Technology Corp. On Tuesday (Jan.

Groups 141

Groups Regulation Lending Operations 141

Abrigo

MAY 18, 2023

How to evaluate loan review processes based on their scope and depth A closer look at loan review can help your institution determine what steps to take to please regulators and streamline processes. In a banking context, the scope is the number of different operations you do on the job and the frequency with which you do them.

Lending 195

Lending Training Guidelines Policies 195

Abrigo

JULY 27, 2023

Of course, banks and credit unions are highly regulated industries, and this is increasing. They must not only comply with regulations aimed at protecting the safety of the FI but also those protecting the customers/members.

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

Of course, banks and credit unions are highly regulated industries, and this is increasing. They must not only comply with regulations aimed at protecting the safety of the FI but also those protecting the customers/members.

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

FEBRUARY 16, 2024

It's about ensuring that every aspect of your lending operation is optimized for efficiency and effectiveness. Whether it's at the start of a year or some other time, focusing on these key areas will help you fine-tune your operations and set your financial institution up for success in the year ahead.

Training 195

Training Risk Management Analysis Policies 195

PYMNTS

JANUARY 22, 2021

India's central bank wants stricter regulations for big shadow lenders, according to a new report from Bloomberg. The bank wants to classify non-bank financial companies as one of four categories, based on circumstances like the size of assets, according to a discussion paper seen by Bloomberg.

Regulation 272

Regulation Capital Lending Groups 272

PYMNTS

OCTOBER 4, 2019

As Mark Rockefeller, co-founder and chief executive officer of small business lending-as-a-service provider StreetShares , told PYMNTS in a recent interview, that pressure to digitize expands to credit unions and community banks in their SMB lending offerings, too, and do it profitably. “This is an extraordinary thing. .

Lending 152

Lending Community Bank US Community 152

PYMNTS

SEPTEMBER 12, 2016

The Securities and Exchange Board of India (SEBI) is placing pressure on the nation’s alternative lending space in a notice issued earlier this month, reports said on Friday (Sept. Reports said there are several of these platforms in operation today, including Grex, LetsVenture, Equity Crest, Tracxn and Termsheet. . In the U.S.,

Lending 100

Lending Regulation Security National 100

PYMNTS

DECEMBER 8, 2019

Asset management, payments and lending are being offered by Microsoft, Amazon, eBay, Baidu, Apple, Facebook and Tencent — all which have colossal databases. Many companies — like Amazon, Facebook, eBay, Alipay and Google — have acquired payments-related licenses in Luxembourg, Ireland, Lithuania and other EU countries. . “Big

Regulation 131

Regulation Data Google Fintech 131

PYMNTS

OCTOBER 12, 2020

CEO Aditya Mishra said the company has seen around 2,000 customer sign-ups in the last week or so as almost 30 percent of BitMEX's trading volume has been withdrawn by customers since U.S. regulators cracked down on the firm Oct. regulators not coming as a surprise. regulators not coming as a surprise.

Bitcoin 261

Bitcoin Compliance Lending Regulation 261

Payments Source

JANUARY 7, 2021

is planning to restructure its consumer credit operations so the company can continue lending nationwide under new regulations that would otherwise threaten to dramatically restrict its most lucrative business, people familiar with the matter said. Jack Ma’s Ant Group Co.

Lending 150

Lending Groups Regulation Operations 150

PYMNTS

FEBRUARY 23, 2020

The banking firm has been talking with London regulators about the idea, according to The Financial Times on Saturday (Feb. The operation will likely include savings and lending products, and it comes just two years after U.S. JPMorgan Chase is taking steps to open a digital bank in the U.K. by the end of the year.

Digital Banking 255

Digital Banking Lending Regulation Operations 255

PYMNTS

AUGUST 25, 2016

The company takes a more narrow focus to small business lending than some other FIs by targeting the western U.S. That focus provides insights into the direct link between lenders, their SME borrowers and the communities in which those businesses operate. A Regional Reach. Bystry said that, when it comes to the western U.S.,

Regulation 100

Regulation Lending Community California 100

PYMNTS

NOVEMBER 16, 2016

15) that the company is now called QuickBridge and is expanding into the direct-to-business lending sector. The company offers a platform for SMEs to access short-term working capital financing. Quick Bridge Financial is revamping its strategy to provide working capital loans to SMEs.

Lending 100

Lending Strategy Capital US 100

PYMNTS

APRIL 4, 2016

federal officials may still be in the early stages of assessing the nation’s alternative lending and small business finance sector, an effort that may eventually lead to regulation of an industry that has yet to face significant crackdowns. The CRBF is not the U.S.’s The CRBF is not the U.S.’s

Lending 100

Lending Groups Capital Regulation 100

PYMNTS

NOVEMBER 26, 2020

With regulators cracking down in China, FinTech leaders are scrambling for capital and trying to plan their futures, Bloomberg reported Wednesday (Nov. And those lending in multiple provinces would have to have 5 billion yuan in registered capital at a minimum. The report said Alibaba has used such practices, among other companies.

Industry 152

Industry DC Regulation Washington 152

Abrigo

APRIL 6, 2022

Takeaway 2 The change includes an obligation to inform regulators of a “notification incident” ASAP and no later than 36 hours after a reportable event occurs. Background Historically, the federal banking regulators required financial institutions to file two types of reports for certain cybersecurity incidents.

Security 195

Security Regulation District of Columbia United States 195

PYMNTS

SEPTEMBER 14, 2020

has said that it was chosen to be ByteDance’s “trusted technology provider” that will take over TikTok's American operations, and Alibaba is considering an investment in Grab. Plus, new regulations in China will make Ant Group support any payments, lending or finances with substantial funds. Technology Provider’. 14) after U.S.

Technology 148

Technology Groups Payments US 148

CFPB Monitor

JUNE 14, 2021

The new law became effective immediately upon signing notwithstanding the authority it gives the Illinois Department of Financial and Professional Regulation (“IDFPR”) to adopt rules “consistent with [the] Act.”. Proposed Regulations. The IDFPR has proposed regulations to implement the Act.

Illinois 78

Illinois Regulation Report Lending 78