PYMNTS

SEPTEMBER 25, 2019

Regulators the world over are beginning to take a closer look at the alternative and marketplace lending business model. Also, in China, analysts at Yingcan Group pointed to the government’s P2P and marketplace lending crackdown as being likely to shrink the industry by as much as 70 percent this year. In the U.S.,

Compliance 117

Compliance Risk Management Lending Regulation 117

PYMNTS

DECEMBER 11, 2019

When it comes to lending — to say nothing of the wider world of payments — innovation and disruption have been on the rise in recent years thanks to digital and mobile technology, along with online marketplace models. So-called peer-to-peer (P2P) lending has certainly faced challenges in certain markets. More Focus on P2P Lending.

Fintech 144

Fintech Lending Regional Regulation 144

Gonzobanker

JUNE 14, 2023

To realize the rewards of the BaaS industry, banks and fintechs are going to have to learn to play by some non-negotiable rules – together. It has more than 80 fintech partnerships including Coinbase, Upgrade, Affirm, Best Egg, Divvy, Rocket Loans and Stripe. And regulators have made it clear that ignorance of the law is no excuse.

Compliance 109

Compliance FDIC Strategy Fintech 109

PYMNTS

AUGUST 29, 2019

The twist is, that gap in small business banking innovation led external FinTechs to step in and today, small business banking is a highly competitive, and highly innovative, area of financial services. In India, Visa recently announced a partnership with FinTech Open to introduce new small business banking services. Now, the U.S.

Fintech 173

Fintech Innovation Lending Digital Banking 173

PYMNTS

DECEMBER 8, 2019

Firms like Google, Alibaba and Facebook could be forced to share data with banks and FinTech firms. Asset management, payments and lending are being offered by Microsoft, Amazon, eBay, Baidu, Apple, Facebook and Tencent — all which have colossal databases.

Regulation 131

Regulation Data Google Fintech 131

Bank Innovation

MAY 10, 2019

House Financial Services Committee has unanimously adopted two resolutions establishing task forces for fintech and artificial intelligence. The Task Force on Financial Technology will examine issues including “the current legal framework for fintech, how fintech is used in lending and how consumers engage with fintech,” the committee stated.

Fintech 186

Fintech Lending Financial Technology Technology 186

BankInovation

AUGUST 9, 2021

Automation is quickly becoming the new norm in auto finance, prompting auto lenders to partner with fintechs to simplify their regulatory practices. One of the latest fintechs to enter the auto finance scene is Lender Compliance Technologies (LCT), which specializes in compliance solutions for auto and powersports lenders.

Compliance 98

Compliance Technology Fintech Lending 98

Bank Innovation

MARCH 10, 2016

Is there a way to prevent regulators from derailing a bank’s fintech initiatives? In fact, the influential community banker has devised a distinct strategy for limiting the bank’s regulatory risk from fintech projects, Read More. Jill Castilla, president and CEO of Citizens Bank of Edmond, located in Edmond, Okla.,

Regulation 150

Regulation Fintech Community Strategy 150

Bank Innovation

NOVEMBER 1, 2017

The lawsuit of a small business in Massachusetts against alternative lender Kabbage is raising questions about the role of partner banks in marketplace lending, namely, whether it’s the bank or the fintech that can be called the “true lender.”

Massachusetts 287

Massachusetts Fintech Lending Compliance 287

Celent Banking

MARCH 30, 2016

Last week, I participated in a Finextra webinar on the topic of “Connected Credit and Compliance for Lending Growth” with panelists from ING, Vertus Partners, Misys and Credits Vision. Cost of compliance. Changing client expectations. Competition from new entrants.

Lending 100

Lending Compliance Training Capital 100

Bank Innovation

APRIL 25, 2019

Fintechs are having trouble facing reality when it comes to obtaining bank charters, FDIC Chairman Jelena McWilliams and Comptroller of the Currency Joseph Otting said here at the FDIC’s Fintech and the Future of Banking conference on Wednesday. WASHINGTON, D.C.

Fintech 186

Fintech FDIC Washington Conference 186

PYMNTS

NOVEMBER 5, 2019

Instant Payment Challenges In Online Lending. Borrowers face two key stages in the lending process: getting approval for their loans and receiving the funds. Many legacy banks are tackling this issue by partnering with nimbler FinTech firms. The Digital Lending Approach And Real-Time Payments.

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Lending Payments Security Fintech 102

PYMNTS

SEPTEMBER 18, 2018

Singapore Signs On With FinTech Firms. In Singapore, news came this week that the country will open up its real-time payment system to FinTech firms. The movement to open that FinTech access, said the minister, brings “greater convenience to consumers” as those individuals use their eWallets. In The Middle East.

Fintech 166

Fintech New York US National 166

Bank Innovation

MARCH 27, 2020

In a week that saw the coronavirus pandemic amplify in the United States, the fintech sector continued to weather economic dislocation and uncertainty. But even amid this uncertainty, fintech companies began formulating strategies to help banking and consumers emerge from the crisis with better tools and solutions.

Fintech 259

Fintech United States Tools Strategy 259

CFPB Monitor

AUGUST 1, 2022

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space. In the introduction to the RFI, the FHFA noted President Biden’s March 2022 executive order.

Financial Technology 78

Financial Technology Technology Fintech Compliance 78

Bank Innovation

MARCH 19, 2020

How will banking and fintech business models be impacted by this unprecedented coronavirus pandemic? For insights into these questions, Bank Innovation and INV Fintech, its sister banking innovation services platform, will present a special Zoom meeting on […]. How will banks and startups work together?

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Meeting Fintech Innovation Customer Experience 293

PYMNTS

AUGUST 20, 2018

Three months in, the European Union’s General Data Protection Regulation still stymies some firms seeking to comply with new rules and regulations governing data protection and privacy. As many as 85 percent of firms are boosting budgets over the previous year’s, tied to data privacy and compliance.

Fintech 101

Fintech Survey Regulation Resources 101

PYMNTS

APRIL 16, 2020

Accelerated data sharing has become a focal point for small business lenders and FinTechs looking to speed up the time it takes for SMBs to apply for and receive much-needed funding. This week’s look at the latest in bank-FinTech collaborations and open banking initiatives finds a focus on small business lending: In the U.K.,

Data 167

Data Lending Regional Fintech 167

Bank Innovation

SEPTEMBER 14, 2017

banking regulator, the Office of the Comptroller of the Currency, is still in the “exploratory” phase with its new fintech charters. The office’s fintech charters were introduced in 2016, and sparked controversy within financial […].

Fintech 170

Fintech New York Conference Regulation 170

Abrigo

APRIL 19, 2016

In a recent whitepaper (download), the regulator outlined the general approach it will take as it evaluates innovative products, services and processes that OCC-regulated banks may offer or perform. The product complies with laws and regulations, particularly those aimed at protecting consumers. Support responsible innovation.

Innovation 150

Innovation Fintech Risk Management Community Bank 150

Bank Innovation

SEPTEMBER 15, 2017

Online lending service Upstart Network has received a “no-action” letter from the Consumer Financial Protection Bureau, the first letter in this program to be issued by the office.

Lending 275

Lending Fintech Data Online 275

PYMNTS

APRIL 25, 2017

The FinTech industry’s future could depend on the outcome of a fight between the Office of the Comptroller of the Currency (OCC) and states, according to a report in TechCrunch. The charter is optional for FinTechs and is aimed at providing a stamp of approval by the OCC for having good compliance practices.

Fintech 109

Fintech Ohio Florida Oregon 109

PYMNTS

DECEMBER 23, 2019

Its omnipresence is altering how members want to interact with their CUs, though regulatory and compliance issues often mean that members cannot reasonably expect the same lightning-fast interactions they might get from banks and FinTech firms. However, it is a quickly changing industry, thanks to digital banking.

Data 131

Data Lending Michigan Regulation 131

PYMNTS

JUNE 11, 2019

banking industry is an ever-evolving machine, shaped and disrupted by FinTech, regulation and shifting customer expectations. Other disruptions are ahead in the area of bank-FinTech collaboration, but this trend is evolving, too, as more FinTech firms express interest in applying for bank charters.

Lending 150

Lending Fintech Regulation Tools 150

PYMNTS

APRIL 29, 2016

News that a group of leaders hailing from the finance industry weighed in on regulation in FinTech, stating that collaboration should be a major theme among all manner of players – from startups to the most entrenched big banks – may hint at the shape of FinTech to come. That’s right.

Fintech 100

Fintech Regulation Lending Innovation 100

PYMNTS

SEPTEMBER 15, 2017

The favored narrative about banks and FinTech startups is generally not a love story. Of course, banks have to be run with safety and soundness to protect those deposits, but they also have myriad public mandates, like fair lending, anti-money laundering and customer privacy. Usually, it is more of an all-out war story.

Fintech 198

Fintech System Lending Cards 198

American Banker

MARCH 26, 2024

A lawsuit filed by the American Fintech Council and two other trade groups has implications for other states that also want to keep out high-cost consumer lenders.

Colorado 61

Colorado Groups Industry Lending 61

PYMNTS

MARCH 11, 2019

According to a report in Fintech Futures , the idea behind the project is to use permission-based blockchain technology so credit unions can reach more members that don’t have access to financial services. Under the plan, credit union members would be able to access the CULedger via a digital credential dubbed MyCUID.

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blockchain Regulation Community Bank Regional 160

PYMNTS

NOVEMBER 23, 2020

While many digital-first companies springboard from payments into lending, Figure Technologies , a FinTech focused on home improvement, debt consolidation and retirement products that leverage blockchain protocols, is branching out from lending into payments. Looking Toward The Blockchain . The Charter Advantage .

National 215

National blockchain Montana Lending 215

PYMNTS

MARCH 19, 2019

However, though the company expanded quickly in 2017 and 2018, Beijing’s crackdown on certain lending practices forced Dianrong to decline in the second half of 2018. We hope regulators can give the industry a clear and definite timetable, and give guidance and a ray of hope for companies that stick to compliance,” Guo said.

Regulation 138

Regulation Regional Lending Compliance 138

American Banker

NOVEMBER 8, 2023

Developers of lending and other banking tools powered by artificial intelligence say their firms are well positioned to weather regulatory changes, but remain mindful of how government agencies might respond.

Fintech 88

Fintech Lending Tools Compliance 88

PYMNTS

DECEMBER 8, 2020

In today’s top news, economists expect the economy to recover back to pre-pandemic levels by the end of 2021, and China’s banking watchdog warns of further Big Tech regulations. Plus, online lending startup SoFi is looking to go public through a SPAC. Synctera Brings 'FinTech As A Service' To Community Banks.

San Francisco 130

San Francisco Community Bank Video Capital 130

American Banker

DECEMBER 20, 2023

They look increasingly like predatory lending. States need to think twice about allowing earned wage advance programs.

Fintech 88

Fintech Lending Policies Compliance 88

Abrigo

APRIL 7, 2022

Today’s financial marketplace is challenged by increasing regulation, high expectations for fast and mobile financial services, and new fintech companies joining the already competitive arena. When two financial institutions come together, the AML and fraud compliance functions will need to be consolidated. Consolidation Trends.

Compliance 195

Compliance Policies Fraud Analysis 195

PYMNTS

DECEMBER 21, 2020

Through invoice integration, the service boasts improvements to savings and offers a compliance audit feature that can help vendors cut spending. The healthcare ecosystem is complex, nuanced and heavily regulated, so having an investor who understands how it all works together can be a competitive advantage.

Capital 199

Capital Payments Software Fintech 199

Bank Innovation

SEPTEMBER 21, 2017

“High-tech,” or fintech banks may be required to hold higher capital buffers and larger liquidity when entering Europe, the European Central Bank said in draft licensing guidelines today.

Fintech 249

Fintech Guidelines Capital Marketing 249

CFPB Monitor

MAY 18, 2021

Access to Fed services is sought by fintechs and other non-traditional financial services companies because a Fed account, and direct access to Fed financial services, would dispense with the need for the non-bank to use a traditional bank as an intermediary with the Fed. payments, deposit-taking, and lending).

Fintech 78

Fintech Guidelines Policies System 78