PYMNTS
JUNE 13, 2017
Which means it really doesn’t come as all that huge a surprise that as of June 6th, SoFi had applied for a new (de novo) bank charter according to the FDIC. Instead, SoFi as a bank will exist so it can “provide its customers an FDIC insured NOW account and a credit card product. SoFi has confirmed the news.
Abrigo
MAY 5, 2022
Banking artificial intelligence (AI), the customer experience, enticing millennials, and change management are among subjects tackled in recent episodes. Sometimes 20 minutes, sometimes 50 minutes, this podcast digs into such topics as creating branch experiences that go hand-in-hand with digital ones, identifying risk, and consumer lending.
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PYMNTS
JULY 15, 2016
But when it comes to a tactic that plays rope-a-dope with the facts about something, say as serious as whether or not China hacked into the FDIC, then it is not at all cool. Top as in the very top: the FDIC chairman, his chief of staff, and the General Counsel. Lending Club Algorithms . Really, since when?).
Independent Banker
FEBRUARY 24, 2016
Community banks cannot afford to ignore the staggering pace of lending adoption by both individuals and businesses using digital-only platforms from various nonbank technology-based specialty lending firms. FDIC-insured deposits largely solve this problem for banks. Competing and beating FinTech’s digital-platform lenders.
FICO
DECEMBER 20, 2018
In our current rising rate environment, any bank that can’t grow (or at least sustain) its deposits base will face shrinking net interest margins and a competitive disadvantage in their consumer lending businesses. small-dollar lending market. This is critical to making the business case for small-dollar lending viable.
Jeff For Banks
MARCH 3, 2018
How do we balance strategic direction, customer demand, and the futurist or wildly over-caffeinated millennial that tells us we have to implement every shiny new object or we'll die? When I wrote that post in January 2011 there were 7,700 FDIC insured financial institutions. Maybe those millennial futurists don't remember this.
Independent Banker
NOVEMBER 25, 2015
Meanwhile new competitors regularly emerge, including person-to-person facilitators such as digital wallet provider Venmo, crowd-funding loan provider Lending Club and real-time cryptocurrency settlement company Ripple. Consider the 80 million millennials who would rather manage their finances with a smartphone app than visit a bank branch.
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