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MortgageTech Owns the Stage at Finovate Spring, Day 2

Bank Innovation

SAN JOSE, Calif. It makes sense that fintech startups are taking on mortgages, but the uptake has been slow — until today. — Getting a mortgage is a terrible experience. It is expensive and time-consuming, and a lot of work to gather documents and data.

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Investing, Authentication, and a Few Bots Take the Stage at Finovate

Bank Innovation

SAN JOSE, Calif. Not all were startups (IBM) and not all were really fintech (Quid). All of them did their best to impress a passionate crowd of 1,500+ fintech fanatics. — Thirty-nine companies demoed their products to the crowd at Finovate Spring today. Here’s our take on the demos from Read More.

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PayPal Sells Consumer Loans to Long-Time Partner Synchrony Financial

Bank Innovation

Yesterday, the San Jose, Calif-based PayPal said it agreed to sell $5.8 Payments company, PayPal will sell its U.S. consumer loan portfolio to Synchrony Financial. billion in consumer credit receivables to Stamford, Conn-based Synchrony Bank, a unit of Synchrony Financial. Synchrony Bank has been PayPal’s banking partner since 2004.

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Investments, Financial Management, and Even Some Virtual Reality: Finovate Day 2

Bank Innovation

SAN JOSE, Calif. – Day 2 of Finovate saw a seeming parade of wealth management and investment solutions, but the final one included a new twist — virtual reality. Was it a bit frivolous? Was the use case far-fetched, strained, even bizarre? Could be, but the audience appreciated it anyway simply Read More.

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Automobile Title Lending Platform Finova Financial Raises $52.5 Million

Fintech Labs Insights

In a round led by a host of Silicon Valley and international investors, auto title lending platform developer Finova Financial has raised $52.5 Pictured: Finova Financial CEO Gregory Keough demonstrating the Car Equity Line of Credit (C-LOC) at FinovateSpring 2016 in San Jose, California. million in combined equity and debt.

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New Investment for Dealstruck Boosts Lending Capital to More than $100 Million

Fintech Labs Insights

The online business lender now has a total capital of $70 million and says the investment will enable it to lend more than $100 million to small businesses. “The growth in alternative lending has breathed new life into so many small businesses,” Senturia said.

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Fintech Fundings: 17 Companies Raise $235 Million Week Ending Sep 25

Fintech Labs Insights

Funding to the fintech sector maintained pace this week with another quarter-billion ($234.3 HQ: San Francisco, California. Auto lending marketplace lender. HQ: San Jose, California. Online investment advisory. Online invoice marketplace. Mobile P2P lending platform. Total raised: $135 million.