Perficient

JULY 11, 2022

When online shopping, if a retailer has a partnership with a BNPL platform, the customer can choose it as their payment method when placing their order at checkout. which is a huge draw to using BNPL as a non-cash payment method. When deciding whether to use a BNPL service for a purchase, it is essential to read the fine print.

Fintech 474

Fintech Trends South Dakota Apple 474

PYMNTS

JANUARY 7, 2019

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. Such alternative data, said the GAO, could pose risk to such lending decisions. Sandboxes, Gathering Steam.

Lending 150

Lending Fintech Data Wyoming 150

Gonzobanker

MARCH 21, 2024

The Small Business Credit Crisis If you search online for “small business challenges,” the list that Google returns is nearly endless. Minority small business owners need ‘fair and accessible’ lending. Small business owners face a credit crisis—and the problem is even worse for minorities. The problem is even worse in 2024. To the U.S.

Lending 78

Lending How To Capital Data 78

PYMNTS

NOVEMBER 27, 2018

Yet, the small business lending gap remains. In a new report, PayNet and financial research firm Raddon examined the state of small business lending in the U.S. ” Banks have not invested in their small business lending operations to improve the process for the borrower, though.

Lending 159

Lending Fintech Capital Report 159

Abrigo

FEBRUARY 23, 2022

Making small business loans efficient and worthwhile Digitalizing the lending process can help financial institutions win small business loans and meet customers' needs. You might also like this webinar on small business lending best practices. Top problems in small business lending. Roadblocks to Success.

How To 195

How To Lending Software Survey 195

PYMNTS

SEPTEMBER 14, 2018

To challenge the Office of the Comptroller of the Currency (OCC)’s decision to allow online payment companies and lenders to have national bank charters, the top banking regulator in New York is suing the federal government. Cuomo on June 1, 2017 required DFS to study online lending in New York State and submit a report of its findings.

New York 173

New York Fintech Lending Regulation 173

PYMNTS

SEPTEMBER 18, 2018

And in lending, with the financial crisis in the rearview mirror, a decade on, invention – okay, innovation – has become a hallmark, at least in some corners. The rise of FinTech offers a bit of a prism through which to view those events. As for lending to businesses, banks have still been a bit hesitant to lend to smaller firms.

Lending 148

Lending Innovation Fintech Cards 148

PYMNTS

JUNE 6, 2019

When it comes to small business (SMB) lending, the top two contenders for business owners are banks and alternative financiers or online marketplaces. The SBA and NCUA collaboration is a three-year agreement that aims to build upon that momentum, and heighten CUs’ share of the SMB lending market.

Lending 129

Lending Analytics Data Security 129

American Banker

FEBRUARY 3, 2021

Only 18% of businesses that received a Paycheck Protection Program or other loan from an online lender were satisfied with customer service, while 42% said they were dissatisfied. Banks, credit unions and CDFIs fared better in the Federal Reserve survey.

Lending 85

Lending Fintech Survey Online 85

PYMNTS

MARCH 20, 2018

FinTechs and non-bank financial service providers are set to take over traditional banks as the preferred choice for small business (SMB) customers in Australia, a new report by Scottish Pacific found. FinTech offers include creating seamless online loan applications and software that analyzes financial data to deliver the best possible deal.

Fintech 118

Fintech Lending Survey Innovation 118

PYMNTS

SEPTEMBER 25, 2017

The Australian market is quickly becoming a hotbed of alternative lending , and new analysis from KPMG suggests it has risen up in the ranks. 22) said that a survey of 600 online alternative finance firms across the Asia Pacific found that Australia’s market grew 53 percent in the last year alone.

Lending 100

Lending Regional Analysis Survey 100

CFPB Monitor

JUNE 8, 2016

On June 9, 2016, the FTC will host a “ FinTech forum on marketplace lending ,” the first in a forum series described by the FTC as “exploring emerging financial technology and its implications for consumers.”

Lending 60

Lending Fintech California Survey 60

PYMNTS

JULY 31, 2017

That’s bad news for some of the largest FIs, despite a recent uptick in small business lending activity. The 2017 report from FIS surveyed nearly 500 SMEs in the U.S. PYMNTS examines some of the most telling data from the survey below. -14% with revenues up to $500 million.

Survey 112

Survey Community Bank Community Regional 112

Independent Banker

DECEMBER 1, 2021

Additionally, a recent survey by FIS shows that 37% of consumers began a new banking relationship with a major national or global bank that had a well-established online portal in the past 12 months. 18% of these consumers opened an account with an online-only direct bank. Benefits of FinTech partnerships.

Community Bank 91

Community Bank Community Fintech Guidelines 91

PYMNTS

MAY 25, 2020

Marred by regulatory confusion , claims of unfair lending and borrowing, and the U.S. FinTech Eases The Business Model Shift. At the same time, technology firms like Shopity and Facebook have rolled out their own services to help SMBs migrate to online platforms and adopt the eCommerce business model.

Maine 151

Maine Fintech Fraud Marketing 151

PYMNTS

MARCH 17, 2017

Those market conditions present interesting obstacles and opportunities for everyone in the banking FinTech space. Reports last week said the merger aims to create a FinTech “powerhouse” as both Misys and D+H evolve their services to meet the more sophisticated demands of the industry. The company will merge with DH Corp.,

Fintech 195

Fintech Innovation Lending Management 195

PYMNTS

JANUARY 9, 2018

With big banks pulling back from small and medium-sized business (SMB) lending in the wake of the global financial crisis, the market was ripe for someone else to fill the credit gap. Community banks approved 49 percent of SMB loan applications in November, according to the latest data from the Biz2Credit Small Business Lending Index.

Community Bank 131

Community Bank Community Fintech Lending 131

Abrigo

SEPTEMBER 19, 2019

Optimism hit a five-year high in 2017 among c-level executives at financial institutions, but this year, optimism took a sharp dip amidst concerns over decelerated loan growth, an uncertain economy, and higher interest rates, according to survey results by Cornerstone Advisors. Let’s take a look.

Lending 150

Lending Fintech Survey Technology 150

Gonzobanker

FEBRUARY 19, 2020

Fintechs can provide better design capabilities, improved customer experience, research states. Financial institutions are making fintech partnerships a key priority in 2020, according to a new study from Cornerstone Advisors. These numbers represent an increase from 49% and 60%, respectively, in 2019. Register here.

Strategy 109

Strategy Fintech Study Customer Experience 109

PYMNTS

DECEMBER 8, 2020

Plus, online lending startup SoFi is looking to go public through a SPAC. economic slowdown fueled by the COVID-19 pandemic is likely to continue into 2021 but could start bouncing back by mid-year as the population gets vaccinated, according to a December survey from the National Association for Business Economics (NABE).

San Francisco 130

San Francisco Community Bank Video Capital 130

Abrigo

MARCH 24, 2021

Independent Banker Survey. The top banking challenges in 2021 are growing loans and earnings, according to Independent Banker’s recent 2021 Community Bank CEO Outlook survey. Technology sets up future lending success. Takeaway 3 Pricing models for loans and deposits combat margin pressure and help retain your best customers.

Lending 221

Lending Technology Survey Examples 221

PYMNTS

APRIL 22, 2019

Might banks be making inroads into the hearts and minds of smaller firms as they seek out capital – as some SMBs cite at least some dissatisfaction with non-banking lending conduits? Drilling down a bit further, about one third sought financing from online lenders in 2018, up from 24 percent in 2017.

Study 122

Study Lending Online Survey 122

PYMNTS

APRIL 14, 2017

New data from the Federal Reserve shows small businesses aren’t taking to FinTechs as much as they’d hoped. Coming in last were online alternative lenders, which scored a satisfaction rate of just 46 percent. Coming in last were online alternative lenders, which scored a satisfaction rate of just 46 percent.

Fintech 109

Fintech Survey New York Maine 109

PYMNTS

DECEMBER 11, 2020

Synctera Brings 'FinTech As A Service' To Community Banks. FinTechs want to offer compliant banking services, while community banks want new ways to grow deposits. The FinTech as a Service launched Tuesday (Dec. Report: Millennials, Buy Now Pay Later And The Shifting Dynamics Of Online Credit.

Trends 175

Trends Fraud Millennials Community Bank 175

PYMNTS

DECEMBER 28, 2020

In a recent announcement, Nacha said that a survey it conducted in collaboration with Blueflame Consulting and Research revealed the accounts payable department's growing exposure to fraud risks, the result of challenges in maintaining and verifying data, vendor on-boarding, and other manual tasks.

Fraud 291

Fraud Payments Survey Lending 291

CFPB Monitor

FEBRUARY 20, 2019

The Conference of State Bank Supervisors (CSBS) announced last week that it has agreed to implement 14 recommendations made by its Fintech Industry Advisory Panel (Advisory Panel). It has 33 fintech company members that engage with the CSBS Emerging Payments and Innovation Task Force and other state regulators.

Fintech 68

Fintech Conference Survey Regulation 68

PYMNTS

APRIL 15, 2019

Specifically, who knows what dangers — for banks, at least — lurk in shadow banking, as FinTechs emerge to nibble at market share? Citigroup CEO Michael Corbat responded that leveraged lending is seeing growth outside of the regulated financial system (he pointed to mortgage and auto lending), and so is not yet posing a systemic risk.

Lending 175

Lending United States Survey System 175

PYMNTS

AUGUST 19, 2019

Barclays is now offering £100,000 unsecured lending for SMEs on its app and online banking platform. A recent survey by Barclays found that 44 percent of SMEs said they would have more confidence in applying for a loan if they could see a pre-assessed limit. Funds are typically received within 24 hours.

Lending 109

Lending Survey Online Fintech 109

FICO

AUGUST 19, 2022

Tackling the Fintech Threat: A Guide for Banks and Credit Unions. What financial institutions need to compete with fintech threat disrupters. As FinTech funding rises to new record levels – $131.5 Taking the FinTech Threat Seriously: What Should Banks Be Doing to Compete? Thu, 12/19/2019 - 16:29. by Darryl Knopp.

Fintech 52

Fintech Millennials Lending Tools 52

Jeff For Banks

APRIL 12, 2018

When I first read Standards Needed for Safe, Small Installment Loans from Banks, Credit Unions by the Pew Charitable Trusts that encouraged financial institutions to get back into small ticket consumer lending, I thought “what are they nuts!” So why would banks expand small-ticket, unsecured personal lending? Real estate secured.

Lending 60

Lending Resources Community Metro 60

CFPB Monitor

SEPTEMBER 3, 2019

These documents are categorized by state, license, and topic, including: virtual currency; correspondence to mortgage broker; lender and originator licensees; money transmission; mortgage underwriting and processing; third-party payment processing; mobile home lending; and mortgage servicing. State Survey Map of Money Transmission Laws.

Tools 60

Tools Industry Online Resources 60

PYMNTS

OCTOBER 31, 2019

Credit unions (CUs) have followed banks’ digital banking lead, churning out platforms, services and mobile apps for consumers to use speedy, convenient online services. Only 15 percent of surveyed CU executives expected the same. Half of U.S.

Innovation 101

Innovation Survey Lending Technology 101

BankUnderground

AUGUST 23, 2023

Gerry Gunner and James Waddell Buy-Now-Pay-Later (BNPL) is a relatively new form of consumer credit that you might have noticed as a payment option when shopping online or in person. Typically these products are provided by newer fintech firms, for whom BNPL makes up most or all of their lending.

Survey 89

Survey Groups Regulation Data 89

Bank Innovation

OCTOBER 18, 2018

Banks need not fear large technology companies like Google or Apple taking their business. Digital banking continues to be the most convenient option for simple daily transactions, but branches are still necessary for the more complex ones And yet banks should not ignore the shift in banking habits brought on by non-bank technology companies.

Google 225

Google Apple Survey Digital Banking 225

Bank Innovation

APRIL 11, 2019

In a recent survey by Fiserv, 86% of respondents said they would consider leaving their bank, if they could not easily manage their accounts online. New data shows that consumers -- and financial institutions -- are more inclined toward greenfield digital banks. Additionally, 82% of respondents […].

Digital Banking 199

Digital Banking Survey Online Data 199

Bank Innovation

OCTOBER 18, 2017

The San Francisco-based fintech used to charge its customers $9 per month, but after conducting a survey, CEO Brian Merritt told Bank Innovation that he realized Seed could serve customers better by being free. EXLUSIVE – SME-focused digital bank Seed is nixing its monthly fee and will now be free for customers.

San Francisco 236

San Francisco Survey Digital Banking Innovation 236

PYMNTS

NOVEMBER 21, 2016

PYMNTS also explores the venture capital and lending spaces as professional investors make some changes and as businesses look to invest in themselves. billion was invested in FinTech startups in Q3 2016 , calculated KPMG and CB Insights in their most recent Pulse Of Fintech report. and Europe dominated in 2015. 83% of U.S.

Strategy 100

Strategy Lending Capital America 100