CFPB Monitor

JANUARY 24, 2022

The bank will also provide a fully digital, mobile-first national lending platform for consumers across the country. The lawsuit, like previous CSBS lawsuits, challenged the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies or to uninsured deposit-taking fintechs.

National 78

National Fintech Company FDIC 78

PYMNTS

MARCH 30, 2017

Alternative lending was supposed to be the way SMEs broke through banking barriers to gain access to capital, enabling them to boost growth opportunities, investment options, commercialization of innovations and employment. This is not entirely unusual, as alternative lending is still a relatively new and growing category.

Lending 100

Lending Capital Operations Software 100

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

PYMNTS

AUGUST 21, 2018

Increasingly, digital strategy is in the purview of banks and non-bank lenders, who in turn are seeking pairings with FinTechs. The insurance FinTech, said the site, will seek to offer insurance contracts that are binding in real time, whereas traditionally insurance companies have finished the process. The FinTech is Finserve Africa.

Fintech 101

Fintech Lending Groups Digital Strategies 101

CB Insights

APRIL 22, 2020

GET THE 102-PAGE State of fintech REPORT. Below, we dig into how the financial difficulties that many SMBs face could impact fintech companies (especially B2B fintech startups). What a cash flow crisis means for fintech companies. LENDING MARKETPLACES CAN SHOWcase THEIR UTILITY. worth of loan applications.

Fintech 87

Fintech Lending Online Examples 87

PYMNTS

OCTOBER 20, 2016

Online lending may be dominated by startup companies based outside of New York, but the New York State Department of Financial Services (NYDFS) wants New York banks to get into the business as well. The report noted Vullo’s remarks follow the launch last week of Goldman Sachs’ online lending platform, dubbed Marcus.

New York 100

New York Lending Online Cards 100

PYMNTS

SEPTEMBER 6, 2018

For FinTech firms, doing the chasing all on their own is a losing proposition. SaaS, the distribution model where providers offer a central location for their customers, can offer FinTech firms a way out of inefficient processes, say some supporters. FinTech firms can browse and research what they need and pick it up on the fly.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

CFPB Monitor

AUGUST 11, 2022

Digit is a fintech company that offers a personal-finance-management app that includes an automated savings tool. With regard to algorithms, the CFPB has previously expressed concerns about fair lending risks created by the use of algorithms. The settlement requires Digit to pay a $2.7

Company 78

Company Fintech Tools Lending 78

The Paypers

APRIL 5, 2021

Property financing platform LendInvest has teamed up with credit reference fintech Credit Kudos to strengthen its underwriting through Open Banking, according to AltFi.

Lending 56

Lending Fintech 56

PYMNTS

JANUARY 7, 2021

In an environment in which connecting small- to medium-sized businesses (SMBs) to vital financial services and products is more imperative than ever, the world of SMB banking and FinTech is fostering an ecosystem of collaboration to expand availability. Orange Bank Acquires Anytime. Financial terms of the takeover were not disclosed.

Strategy 196

Strategy Fintech California Community 196

Insights on Business

FEBRUARY 19, 2016

This phenomenon is also being referred as an “ Uber moment ” in the banking industry. In today’s highly digitized and connected world, several lean and nimble organizations are making profound business impact challenging the traditional banking models in domains such as Payments, Lending and Wealth Management.

Fintech 132

Fintech Video Lending Industry 132

PYMNTS

FEBRUARY 27, 2020

At the same time, digital banks are looking to capitalize on their growing small and medium-sized business (SMB) customer base, with open banking and bank-FinTech collaborations an important part of that strategy. Open Banking FinTech Enfuce this week announced a partnership with financial crime and fraud management company Featurespace.

Fintech 192

Fintech Fraud Data Lending 192

Insights on Business

FEBRUARY 19, 2016

This phenomenon is also being referred as an “ Uber moment ” in the banking industry. In today’s highly digitized and connected world, several lean and nimble organizations are making profound business impact challenging the traditional banking models in domains such as Payments, Lending and Wealth Management.

Fintech 93

Fintech Video Lending Industry 93

PYMNTS

JUNE 12, 2018

Days after Australian alternative lending platform Prospa delayed its Initial Public Offering (IPO) indefinitely, one of its bank partners, Westpac , announced it was ending its relationship with the FinTech. The bank did not reveal how many business borrowers it referred to Prospa under their agreement. ” .

Lending 100

Lending Fintech Security Regulation 100

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

Abrigo

SEPTEMBER 11, 2023

From a consumer standpoint, we’ve experienced three giant leaps in the fintech industry. Impact of AI Improved access to financial services One was when ATMs became available, and you didn't have to plan your activities around when banks were open. Let us step back in time and look at the last 50 years. So, what is generative AI?

Risk Management 195

Risk Management Data Technology Fintech 195

Insights on Business

FEBRUARY 19, 2016

This phenomenon is also being referred as an “ Uber moment ” in the banking industry. In today’s highly digitized and connected world, several lean and nimble organizations are making profound business impact challenging the traditional banking models in domains such as Payments, Lending and Wealth Management.

Fintech 70

Fintech Video Lending Industry 70

Insights on Business

FEBRUARY 19, 2016

What should be their strategy for Digital Banking transformation and what they can learn from FinTech innovation? This phenomenon is also being referred as an “ Uber moment ” in the banking industry. Examples include Lending Club and Zopa in lending, Nutmeg and Weathfront in Wealth Management; WePay and Stripe for Payments.

Fintech 70

Fintech Innovation Lending Video 70

CFPB Monitor

MAY 6, 2019

520(e)(1), which contains a sentence that directly justifies the SPNB charter: “A special purpose bank that conducts activities other than fiduciary activities must conduct at least one of the following three core banking functions: Receiving deposits; paying checks; or lending money.” Supreme Court’s 1984 decision Chevron U.S.A.

Fintech 68

Fintech New York National Regulation 68

CFPB Monitor

MAY 19, 2022

To lend or borrow using the Platform, lenders and borrowers are required to set up a special account at a designated bank. Loans that remained unpaid after a “delinquency period” were referred by SoLo to collection agencies that were permitted to retain 30% of all payments received on defaulted loans.

Connecticut 78

Connecticut Operations Fintech Regulation 78

Gonzobanker

FEBRUARY 11, 2021

In addition, there are some concerns regarding the effectiveness of FIs’ fintech partnerships. Roughly half (48%) of banks and about four in 10 (42%) credit unions have partnered with fintech startups over the past three years. It’s just a new way of applying for an existing product or service. The Organizational Solution.

Lending 128

Lending Fintech Technology System 128

PYMNTS

MARCH 10, 2020

The small business credit gap is a global issue, a problem that banks and FinTechs continue to hack away at, yet one that remains stubbornly persistent. Improving The SMB Lending Experience. Asymmetric Information Exchange.

Data 193

Data Lending Capital social media 193

PYMNTS

JULY 19, 2017

Alternative lending has shifted from a competitor of traditional FIs to a collaborator, often lending a digital hand to banks in need of upgrading their systems to provide faster, more agile financing to SMEs. s Big Four banks, with alt lending firms and P2P lenders acting as key vessels for BBB funding. businesses.”.

Lending 138

Lending Capital Report Customer Experience 138

Lex Sokolin

FEBRUARY 18, 2021

The average size is about $300 million, and quite a few are focusing on Fintech and financial services. Let’s narrow down the story to Fintech, using data from Spactrack. With a bit of Excel wizardry, we can see that the first quarter in 2021 has seen 12 Fintech vehicles, while the last quarter for 2020 was at about 8.

Capital 52

Capital Fintech US Lending 52

Lex Sokolin

FEBRUARY 18, 2021

The average size is about $300 million, and quite a few are focusing on Fintech and financial services. Let’s narrow down the story to Fintech, using data from Spactrack. With a bit of Excel wizardry, we can see that the first quarter in 2021 has seen 12 Fintech vehicles, while the last quarter for 2020 was at about 8.

Capital 52

Capital Fintech US Lending 52

Abrigo

MARCH 6, 2017

His recent research reports have covered SMB lending, alternative lenders and automating commercial lending. His Tweets mix news about middle market, small business and business internet banking with occasional pop culture references. It often Tweets columns tied to breaking news and statistics. Learn more here.

social media 150

social media Lending Community Community Bank 150

CFPB Monitor

JANUARY 9, 2019

federal district court in October 2018 by the Conference of State Bank Supervisors (CSBS) to stop the OCC from issuing special purpose national bank (SPNB) charters to fintech companies. The OCC has filed a motion to dismiss the lawsuit filed in D.C. The OCC’s rule (12 C.F.R. Section 5.20(e)(1))

Fintech 60

Fintech Regulation New York National 60

Bank Innovation

APRIL 27, 2018

The program, which Synechron refers to as its Regtech Accelerator Program, went live yesterday. EXCLUSIVE - Technology services provider Synechron launched a regtech program focused on helping its financial services clients on regulatory compliance issues.

Compliance 236

Compliance blockchain Technology Operations 236

PYMNTS

DECEMBER 17, 2018

have already used an alternative lending platform, particularly among younger entrepreneurs. The obvious explanation is that FinTech financing platforms are still too new to the market for small business owners to have even heard of them. .’s So far, the effect has been muted.

Policies 195

Policies Data Lending Exercises 195

PYMNTS

JULY 12, 2018

and Tata Capital has rolled out a new lending platform in India. At first, the company will be referred to as ‘TransUnion, formerly Callcredit’ and will then be known as just TransUnion later in 2018. FinTech company Biz2Credit. In addition, Glint is planning an expansion to the U.S.

Capital 100

Capital US Fintech America 100

Let's Talk Payments

APRIL 2, 2016

A few years ago, when the word ‘unicorn’ in FinTech wasn’t such an overused term, we would still be referring to the set of companies in this article as FinTech unicorns.

Fintech 40

Fintech Company Analytics US 40

Lex Sokolin

DECEMBER 31, 2020

A Year in Financial Models, Fintech Valuations, Super Apps, Big Tech, Decentralized Finance, the Multiverse, Pandemic, Revolution, Crypto Art, and the Nature of the Universe Hi Fintech futurists — You should be out partying! Is Ant Financial the best Fintech in the world? Or rather, you should be inside, partying. Runner up?—?

Fintech 52

Fintech Bitcoin blockchain Google 52

Lex Sokolin

DECEMBER 31, 2020

A Year in Financial Models, Fintech Valuations, Super Apps, Big Tech, Decentralized Finance, the Multiverse, Pandemic, Revolution, Crypto Art, and the Nature of the Universe Hi Fintech futurists — You should be out partying! Is Ant Financial the best Fintech in the world? Or rather, you should be inside, partying. Runner up?—?

Fintech 52

Fintech Bitcoin blockchain Google 52

PYMNTS

SEPTEMBER 8, 2016

Online lender Social Finance Inc has clearly decided to embrace the “go big or go home” mantra with its latest push for funding in the face of generally waning enthusiasm about the whole tech-backed lending concept. It also led to higher interest rates for borrowers and shelved many international expansion plans.

Lending 100

Lending Marketing Course Trends 100

PYMNTS

JUNE 17, 2016

You want to buy them out,” referring to the banks. Unfortunately, “60 Minutes,” famous for investigative journalism, missed the really big story in FinTech. The really interesting, though less juicy, story is what got Lending Club into trouble. Lending Club alone sent an astounding 33.9

Bitcoin 100

Bitcoin Lending blockchain Fintech 100

PYMNTS

OCTOBER 8, 2018

This is not the first brush Facebook has had with regulators on the continent in reference to data privacy. Also in Europe, the European financial markets regulator has said that it wants to spend one million euros to promote market stability in the region as pertains to cryptocurrencies and FinTechs. As has been reported, the U.S.

United States 174

United States Regulation cryptocurrency Cleveland 174

PYMNTS

JUNE 11, 2018

Some of those offerings from FinTech firms, such as facial recognition technology, might offer “great hope” for the industry, as noted by Mark Austen, chief executive of that association. According to that financial industry organization, KYC initiatives would help companies reduce costs. Closer to home, in the U.S.,

Regulation 100

Regulation Community Bank Lending Industry 100