Get a loan as easily as downloading a mobile app
Payments Dive
MARCH 17, 2016
Lenny is a mobile-only lending app that caters to millennials.
How Millennial Ethics Are Reshaping Fintech
CB Insights
MARCH 27, 2019
Over the next few decades, baby boomers and Gen X will pass on $30T in wealth to the millennial generation. As investor preferences shift, download our free 106-page fintech report to see what trends to watch in 2019. As investor preferences shift, download our free 106-page fintech report to see what trends to watch in 2019.
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Trending Sources
Salesforce On Digitizing The Mortgage Process — With An Eye On Millennials
PYMNTS
NOVEMBER 8, 2019
And according to Geoff Green, global head of mortgage and lending at Salesforce , the experience is ripe for change. The millennial borrower,” Green told PYMNTS, “expects to be able to go as far as they can with self-service. You can get wrist pains from writing your signature over and over again,” he said.
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New Data: Receivers Value Instant Payouts Enough To Pay To Get Them
PYMNTS
AUGUST 10, 2020
The findings also show that the use of new technologies could play a crucial role in personalizing the payments experience for consumers, especially younger tech-savvy generations like bridge millennials and millennials.
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NEW DATA: Closing The Instant-Disbursements Perception Gap
PYMNTS
NOVEMBER 16, 2020
Insurance and lending-related disbursements follow a similar trend, with 59 percent of consumers and 50 percent of microbusinesses saying they received such payments through slower methods. For a more in-depth look, download the report. percent, respectively. This share is markedly lower for baby boomers and seniors, at 8 percent.
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The Best Way to Reach Millennials
NCR
FEBRUARY 17, 2016
Millennials are broke, burdened with too many college loans and living in their parents’ basements. In fact, Millennials ( who most define as those born between 1980 and the mid 2000s) contribute $1.3 In fact, Millennials ( who most define as those born between 1980 and the mid 2000s) contribute $1.3 Actually, they do.
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Why Digital Payments Innovation Sticks To Gen Z
PYMNTS
JANUARY 14, 2020
Broadly speaking, it seems the follow-up act to the millennial generation – that is, Gen Z – is much more positively inclined toward using credit products of all stripes. Far more millennials and Gen Xers make use of credit cards than Gen Zers – at 38.29 million and 38.27 million, both cohorts have roughly quintuple the carrying rate.
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‘Buy Now, Pay Later’ Goes Big
PYMNTS
MARCH 10, 2020
What instant lending innovation have shoppers fallen in love with? Between 2018 and 2019, there was a 162 percent increase in buy now, pay later (BNPL) downloads – rising to roughly six million – of the most popular new “layaway” apps by the close of last year. Here’s a hint: We’ll tell you now … and you can thank us later.
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Why Community Banks Can’t Afford To ‘Wait and See’ About Faster Payment Innovations
PYMNTS
AUGUST 4, 2017
Additionally, she noted, that innovation must address the needs of both baby boomer and millennial consumers alike, along with the needs of smaller businesses. It’s not just millennials using these services,” she said, noting that access to digital services is appealing to most age groups. When ‘Wait And See’ Won’t Cut It Anymore.
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Longevity Lessons From The Oldest US Credit Union
PYMNTS
NOVEMBER 16, 2017
Mary’s chief operating officer, Ken Senus, about how the credit union has evolved since it was founded and why, perhaps counterintuitively, its age is an appealing factor for millennial members. From Mill Workers to Millennials. Conservative Approach, Rooted in the Great Depression. After enduring delinquencies and losses, St.
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CORT On Using Mobile, Visual Purchasing To Solve B2B Event Payments Friction
PYMNTS
FEBRUARY 19, 2020
Kivanc Onan, head of B2B North America Financial Products for Alibaba , explained how features like lending services can help sellers get paid up front, while delivery guarantees that buyers feel more comfortable. To find more on these and the rest of the latest headlines, download the Report.
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The role and challenges of financial institutions in the small multifamily rental market
Abrigo
MAY 22, 2015
The topic of affordable rental housing is likely to be an increasingly popular one in the coming years, given the number of baby boomers expected to downsize as they retire and the rising share of millennials choosing rentals over homeownership. To read the entire newsletter, visit the OCC’s website here.
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Would You Buy (And Pay) For A Car From A Mobile App?
PYMNTS
NOVEMBER 28, 2017
Painter said the service specifically targets millennial consumers by allowing them to shop for pre-owned vehicles based on the monthly payment amount for which they are pre-qualified. A consumer who downloads the Fair app can use it to snap a photo of his or her driver’s license to initiate a credit check. The millennial factor.
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Unbundling Bank Of America: How The Traditional Bank Is Being Disrupted
CB Insights
DECEMBER 10, 2020
The pandemic has also accelerated recent trends in banking, especially among the millennial demographic, which tends to favor digital banking and online brands over traditional banks. Download the free report to learn how core processes of this financial service are being automated or commoditized. SMB lending . First name.
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NY Regulators Investigate Whether Earnin Is Covertly Offering Payday Loans
PYMNTS
APRIL 5, 2019
“There is a strong incentive, given the amount of lending regulation, to design products that look as though they don’t fall within the category of loans,” Anne Fleming, a professor at Georgetown University Law Center and author of the book “ City of Debtors: A Century of Fringe Finance ,” told the Post.
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Why Digital Marketplaces Must Anticipate Shoppers’ Needs
PYMNTS
MAY 28, 2019
Indonesian ride-hailing and online payment company GO-JEK , for instance, is expanding its financial technology services through partnerships with peer-to-peer (P2P) lending firms Dana Cita, Aktivaku and Findaya. Mallzee has just over a million downloads of its mobile app, according to reports.
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From Investing To Budgeting, How Millennials Are Disrupting Personal Finance
CB Insights
SEPTEMBER 10, 2019
While the media often portrays millennials as preoccupied with the rising prices of festival tickets and avocado toast, their real financial concerns are a bit more practical. Download the free report to find out how fintech is shaping the future of wealth management and investing. get the REPORT on next generation investors.
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77 When Payments Go North
PYMNTS
FEBRUARY 3, 2017
Users can also take advantage of the Flexible Rewards and Lending program via their mobile phones. And according to the Pew study, that increase in usage will likely continue, particularly as millennials and younger consumers, who have been raised under the influence of smartphones and other mobile devices, age into spenders.
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Fast Fashion Is Failing – Now What?
PYMNTS
JULY 17, 2016
A product of its times, fast fashion tapped into its millennial core audience’s two favorite things: saving money and novelty. ” As for those specific download figures – shockingly all sources we asked were mute on that subject- though positive on the progress in segment.
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100 5 Reasons to expand small business lending
Abrigo
DECEMBER 15, 2016
In the 2015 Growth Strategy Survey by Bank Director , the most commonly cited areas for growth were Commercial Real Estate Lending, C&I loans, SBA loans, and Construction loans. This is compounded by the growing trend of Millennial small business owners.
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Point-Of-Sale Lending Gains Momentum As Millennials Shun Credit Cards
CB Insights
OCTOBER 24, 2018
get the entire 47-page lending report. See how startups and big tech are reinventing traditional lending. Download our deep dive into the disruption of lending. As competition increases and POS lending goes mainstream, startups are raising substantial funds to grab market share. valuation (10/8). valuation (10/8).
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Pokemon The Surprise Retail Sizzle Of The Summer?
PYMNTS
JULY 15, 2016
Lending Club Algorithms . It is truly not our intention to call out Lending Club week after week in this column as a fizzle. But as someone said just the other day about Lending Club, just when you think there are no more shoes to drop, more shoes drop – and that there will always be more shoes. Really, since when?).
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MBA Tech 2017: Blockchain, APIs and Robots, Oh My!
William Mills
APRIL 20, 2017
Tony Garritano from Progress in Lending held an Innovations Awards event at the London House which showcased seven companies in the mortgage industry that are leading the way in compliance, eClosings, appraisals and information management. Seth Wheeler, Managing Director at JPMorgan Chase, posed the question, “Do we build or do we partner?”
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FinovateSpring 2016 Live Blog – Day 2
William Mills
MAY 11, 2016
Under the scenario the consumer can transfer much-needed cash as well get cash (that was earned, not paid yet) so no payday or online lending debt is added. Download our latest white paper that discusses what it really takes to develop a successful Fintech startup. Peer lending meets machine learning, with LendingRobot.
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The Massive Opportunity For Insurance Tech In Indonesia
CB Insights
FEBRUARY 1, 2019
Consider that: Half of Indonesia’s population is under the age of 30, with the number of millennials (aged 17-35) in Indonesia currently at 79.5M. Download the free report to learn about the biggest trends from fintech in 2018 and ones to watch for 2019. Two that are already seeing lots of activity are payments and lending.
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Getting Mobile Ready
Independent Banker
OCTOBER 29, 2014
A consensus says that the future banking customer relationships—particularly for millennial consumers—will orbit to one degree or another around mobile technology. Of course, then there is the ever-present coming generational shift as millions of technology-loving millennials—and those even younger than them—come of age.
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105 How 60+ Startups Are Disrupting Retail And Commercial Banking Around The World
CB Insights
OCTOBER 10, 2018
DOWNLOAD THE 61-PAGE consumer banking REPORT. Asia is highly competitive, with tech giants like Ant Financial and Tencent’s WeChat actively dominating mobile payments and expanding their reach in financial services across lending, wealth management, and insurance. Millennials. Why now for digital banking startups. Home Owners.
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FinovateSpring 2016 Live Blog – Day 2
William Mills
MAY 11, 2016
Demo: “Audit Smarter” – ask clients to download mobile app for security authentication. Fiserv is meeting that need for FIs and millennials. He can just download an app and fill out code. Industry leader Fiserv is tackling the issue account opening for Millennials. BLEND stands for better lending. That’s new.
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40 5 Ways Ant Financial & Tencent’s Fintech Growth Playbooks Are Evolving
CB Insights
NOVEMBER 5, 2019
Download the free report to find out how Asia’s internet giants are creating the playbook for fintech super apps. One area where Ant has ingrained itself into the daily lives of its younger users is in short-term installment lending. learn about asia internet giants’ fintech playbooks.
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51 Bankers as Buyers 2016 Report Now Available
William Mills
FEBRUARY 4, 2016
Download the full report here. Additionally, the rise of the mobile wallet, use of big data and increasing efforts by banks to remain relevant in lending are other areas of interest and opportunity for financial institutions this year. The report also includes research and articles about what technology, solutions and services U.S.
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FICO Survey: Are Millennials Embracing Mobile Payments?
FICO
SEPTEMBER 22, 2016
Millennials love their smartphones—so much so that in recent research , millennials ranked them as more important than a toothbrush or even deodorant. It is a good thing 90% of millennials have smartphones! Of course, many of our clients want to know more about millennial banking habits. That is a really mixed story.
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40 The ‘Uber Of Nothing’ Is Coming
PYMNTS
APRIL 11, 2016
A customer has to buy a (pretty pricey) Apple product to get access, and developers pay 30 percent when someone downloads a digital good. (Of Venmo is a massively successful P2P platform that has become a verb with millennials who wish to pay each other after a trip or a night out. Even payments cards charge both sides.
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Top 5 Customer Development Posts of 2022: Digital Banking and Pricing Opti
FICO
FEBRUARY 12, 2023
That said, customers have increasingly high standards and you only have a short amount of time to impress them (especially Millennials). The business model here needs to focus on a strategy that balances lending growth while keeping risk in check. What can financial institutions learn from TikTok?
Getting Bill Payments The Financial Services Love It Deserves
PYMNTS
MAY 1, 2018
This situation is out of step with how consumers, particularly millennial consumers, are used to delivery of services of all kinds, Kang said. Though the platform was designed for customers who have bills to pay, Kang told PYMNTS, as of today, it mostly appeals to millennials, and is particularly strong with female customers.
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Connecting Small Banks To The Mobile Future
PYMNTS
SEPTEMBER 23, 2016
The necessity for multiple app downloads rules, and biometric tie-ins are basically nonexistent. As additional capabilities come into vogue and consumers express preference for them — be it in authentication, payments or lending, for example — the platform enables rapid integration with best-of-breed third-party services.
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For faster loan origination, stop doing this
Abrigo
NOVEMBER 17, 2023
How to close more loans by speeding up lending and credit analysis Seeking a quicker loan origination workflow is worth it. Takeaway 3 Many aspects of traditional lending that slow down the loan origination process can be addressed through expanded automation. Learn where to find opportunities for improvement.
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Google, Amazon, Facebook, And Apple Are Giving The Beauty Industry A Makeover
CB Insights
NOVEMBER 6, 2018
Download the full report to see how Amazon and other tech companies are revolutionizing beauty and personal care. The platform naturally lends itself to beauty — an industry that is inherently visual, based on peer recommendations, and has a relatively low barrier to entry. get the free 39-page beauty tech report.
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Blinker Wants To Drive An New Auto-Buying Experience Nationwide
PYMNTS
FEBRUARY 23, 2018
Sellers, once they’ve downloaded the app, can upload their vehicle’s image and price to Blinker. To speed up that process, Blinker is currently in discussions with a series of larger banks and credit unions, which would allow them to transact on their lending licenses and move more quickly into markets.
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130 TRENDING: Are Credit Unions The Hipster FI?
PYMNTS
NOVEMBER 15, 2017
Today, more than a century later, that credit union is still operational and is now focused on serving a new type of member: millennials. The new service is called Lending 360 and helps members by quickly completing the underwriting process and disbursing funds to borrower accounts. News from the credit union market.
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130 We analyzed 7 of the fastest-growing personal finance apps of all time to figure out the secrets to their success — here’s what we learned
CB Insights
OCTOBER 10, 2017
Ninety-two million millennials will soon be in what Goldman Sachs calls their “prime spending years.” Download the 17 key takeaways from the 7 fastest-growing personal finance apps. Bankrate found 83% of millennials don’t think they’ll ever retire: they simply “don’t think they’ll have the money” to do so.).
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Ready for a Sneak Peek? How to Best Prepare for FinovateFall
Fintech Labs Insights
AUGUST 1, 2016
Envestnet | Yodlee offers millennials a solution for measuring financial health and promoting a healthy financial lifestyle. iBank Marketing offers millennials a multi-function digital wallet to help them achieve personal goals of life events using its local eco-system bridging consumers and small-to-medium-sized enterprises.
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Finovate Fall 2016 Live Blog – Day 1
William Mills
SEPTEMBER 7, 2016
I’ve heard that financial planners are having a hard time getting Millennials thinking about retirement but instead focus on short-term financial goals – homes, vacations, etc. Command center for small business lending. This triggers activity and lending platform. First product is small business lending using machine learning.
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How Technology Is Leveling The Playing Field In Banking
PYMNTS
APRIL 6, 2016
In terms of more targeted offerings, banks that are looking to reach the 35-and-older demographic, for example, are integrating a large amount of lending functionality, while those that want to service the millennial end of the consumer spectrum are doing so with offerings related to instant cash access and instant transfers.
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