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Fintech Deals Are Still Happening – and It’s a Good Thing

Gonzobanker

All the capital flowing into the digital fintech space is helping to solve banking industry challenges. As the industry’s appetite for digital technology grows, the capital that’s been flowing into mostly digital-focused fintech is solving real industry challenges right now. SoFi/Galileo: This $1.2

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Reports of Small Business Lending’s Death are Greatly Exaggerated

Celent Banking

After all, in the United States small businesses comprise 99.7% The lack of “just right” solutions for many small business financial problems has been a golden opportunity for FinTech firms. But FinTech companies figured out early on that small businesses weren’t getting the attention they deserved from traditional banks.

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Top 63 Online Digital Banks for U.S. Consumers (Nov 2023)

Fintech Labs Insights

Consumers have been banking online for 28 years. The first, online bank Security First Network Bank (SFNB) launched in 1995, just a year after Amazon.com. In the 15 years after the financial crisis, $27 billion (a mix of equity & debt) was invested in the leading United States consumer challenger banks.

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Preparing for Section 1071

Abrigo

Financial institutions, fintech companies, and other small business lenders will need to begin collecting a wide array of small business lending data under the Consumer Financial Protection Board’s (CFPB) proposed small business lending data collection rule. in-person, phone, mail, online) Application recipient (e.g., Proposed Rule.

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California Department Of Financial Protection And Innovation files cross-complaint alleging OppFi is “true lender” on loans made though bank partnership and seeking penalties of “at least $100 million”

CFPB Monitor

OppFi’s complaint recites that prior to 2019, the Bank entered into a contractual arrangement with OppFi (Program) pursuant to which the Bank uses OppFi’s technology platform to make small-dollar loans to consumers throughout the United States (Program Loans).

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SMB Challenger Banks: Lili Focuses on Freelancers

Fintech Labs Insights

I’ve been expecting digital banking disrupters in the SMB space since the beginning of the online banking era (late-1990s). Lili is focused on freelancers, a 59-million segment (in the United States) that accounts for more than 1 out of every 4 adults ( see chart above ). Online Digital Banks for Small Businesses (SMB) May 2021.

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SMB Challenger Banks: Lili Focuses on Freelancers

Fintech Labs Insights

I’ve been expecting digital banking disrupters in the SMB space since the beginning of the online banking era (late-1990s). Lili is focused on freelancers, a 59-million segment (in the United States) that accounts for more than 1 out of every 4 adults ( see chart above ). But now we have some impressive entrants. marketplace.

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