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SMB Alt-Lending Gears Up For Another Industry Shakeup

PYMNTS

It also opened the door for a boom of FinTech innovation and a flood of alternative lenders targeting the small- to medium-sized business (SMB) segment. “It comes in waves, there’s no doubt about it,” he said about the alt-lending boom. But that’s not to say that these FinTechs have a certain path ahead.

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FinTechs Prove Their Value During Pandemic

PYMNTS

At a time when surging coronavirus counts are once again muddying the outlook for consumers and business owners, MerchantE Chief Financial Officer Shim Steinmetz says the crisis has also provided a silver lining of sorts to nimble FinTechs that can solve merchants’ cash crunch problems. Don’t Put Too Much Faith In Credit.

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Is Small Business Lending Facing a ‘Moment of Reckoning?’

Gonzobanker

Financial institutions that want to play in the small business lending sandbox need to bring their digital toys. article , former Small Business Administration administrator Karen Mills said community banks with strong small business customer bases that don’t find new ways to serve them digitally are going to face a “reckoning.”

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FinTechs Link With FIs Down Under And Beyond

PYMNTS

Increasingly, digital strategy is in the purview of banks and non-bank lenders, who in turn are seeking pairings with FinTechs. The insurance FinTech, said the site, will seek to offer insurance contracts that are binding in real time, whereas traditionally insurance companies have finished the process. million USD.

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How Digital Transformation Can Lead to Greater Revenues for FIs

Bank Innovation

There is a correlation between an FI’s revenues and its digital strategy. A new report from advisory firm EY suggests that the more mature an FI’s digital strategy is, the more revenues it is likely to generate.

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Union Bank’s New Head of Digital Banking, Julie Demarigny, Talks Innovation

Bank Innovation

Not even a month has passed since Julie Demarigny, a veteran in digital entertainment industry having served Warner Bros. and Sony Music, has joined West Coast focused Union Bank as its head of digital banking.

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Chime, Uniswap, and the future of finance could soon struggle

Lex Sokolin

Instead, it is replacing payday lending as an industry. It doesn’t have an ILC charter from Utah, or a crypto bank charter from Wyoming, or a straight-up bank charter like Varo, nor has it acquired any banks like Lending Club or Jiko. lending/trading/saving), and are computing concurrently on a giant programmable blockchain network.

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