PYMNTS

JANUARY 7, 2021

China’s Ant Group is mulling the creation of a new consumer loan unit that would allow it to continue making loans throughout the country while complying with new Chinese banking regulations. Ant Group had planned to go public for $35 billion, which would have made it the largest IPO in market history. China TransInfo Technology Corp.

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Groups Regulation Lending Operations 141

PYMNTS

NOVEMBER 5, 2020

Ant Group 's initial public offering (IPO) could be delayed by six months and its valuation reduced by quite a lot after its delay this week, a report from the Financial Times says, as new regulations come into play. 3), one day after Beijing debuted a set of regulations that would have forced Ant Group to re-do its business model.

Groups 189

Groups Regulation Lending Financial Technology 189

Independent Banker

JANUARY 31, 2022

The CARES Act of 2020 included a “Sense of the Senate” provision stating that the Small Business Administration (SBA) should issue guidance for lenders about prioritizing underserved groups for PPP loans. These groups include small businesses owned by minorities, women and veterans, as well as businesses located in low-income areas.

Lending 150

Lending Community Community Bank Compliance 150

PYMNTS

SEPTEMBER 21, 2020

Ant Group , the online payment provider for China-based Alibaba Group Holding Ltd., Ant Group declined to comment in an emailed statement. The company operates the Alipay payments app, where it gets most of its revenue from consumer loans. The news comes as Ant Group gained profits of $1.3 It contributed $433.7

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Groups Capital Regulation Operations 141

PYMNTS

APRIL 4, 2016

federal officials may still be in the early stages of assessing the nation’s alternative lending and small business finance sector, an effort that may eventually lead to regulation of an industry that has yet to face significant crackdowns. The CRBF is not the U.S.’s

Lending 100

Lending Groups Capital Regulation 100

PYMNTS

MARCH 20, 2020

FinTechs continue to push the envelope to see how far open banking frameworks can go in improving the SMB banking experience, and increasingly, SMB lending is shifting to the center of these collaborative efforts. In the U.K., In the U.K., While more financial service providers in the U.S.

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Lending Data User Experience Fraud 233

PYMNTS

NOVEMBER 3, 2020

For Ant Group, for Alibaba, and for the biggest IPO ever, it’s a case of hurry up and wait. In a sign that the scrutiny might go on for a bit, Alibaba, which owns 33 percent of Ant, said through a spokesperson, “We will be proactive in supporting Ant Group to adapt to and embrace the evolving regulatory framework.

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Lending Meeting Groups Regulation 199

CFPB Monitor

SEPTEMBER 6, 2022

I am pleased to share with our blog readers that Kristen Larson, an attorney with almost two decades of in-house experience advising midsized and large national banks on financial services matters, has joined Ballard Spahr’s Consumer Financial Services Group. She is resident in the firm’s Minneapolis office.

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Groups Minneapolis National Lending 78

PYMNTS

SEPTEMBER 14, 2020

New Chinese finance rules will force Ant Group to comply with regulations to back up any payments, lending or other finances with substantial capital, according to a report from The Wall Street Journal (WSJ). 1, and will have to apply for a license to do so. trillion) in the year leading up to June 2020, according to WSJ.

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Groups Company Regulation Lending 161

PYMNTS

FEBRUARY 3, 2020

To that end, Goldman Sachs Group, undergoing a very public transformation from Wall Street titan pivoting toward filling the the financial needs of Main Street, is reportedly in discussions with Amazon to bring small business loans to Amazon’s platform. Like the Apple effort, the Amazon lending partnership would be co-branded.

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Lending Apple Study Online 146

PYMNTS

MARCH 12, 2020

But the latest initiatives reveal a growing interest in transforming internal processes, particularly among smaller banks looking to upgrade their core infrastructure and elevate small business lending operations. Bectran Augments Cash Application With API. Equiniti Eyes APIs for Risk Management.

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Lending Risk Management Fintech Community 194

PYMNTS

MARCH 15, 2019

Some of the largest global financial institutions are taking steps further into Mexico’s small business lending and finance space, the result of heightened competitive pressure imposed by FinTechs and alternative lenders in the market, reports in the Wall Street Journal said Thursday (March 14).

Lending 189

Lending Fintech National Taxes 189

PYMNTS

SEPTEMBER 30, 2020

Lending marketplace October worked with major investors and raised €258 million (close to $303 million) over the summer to fund loans to small and medium-sized businesses (SMBs), the company said in a blog post. October is adding state guaranteed loans to its platform, alongside non-guaranteed loans and its financial leasing product.

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Lending Technology Groups Payments 154

PYMNTS

MARCH 8, 2019

challenger Starling Bank is moving forward with plans to introduce business lending services, reports in Specialist Banking said this week, with the bank revealing new details about its strategy. “We don’t think we’re going to automate every lending decision,” said Doignie.

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Lending Strategy Capital Groups 118

PYMNTS

MARCH 19, 2019

Grab Financial Group , the Southeast Asia FinTech company, announced Tuesday (March 19) the rollout of SME lending and micro-insurance for drivers in Singapore as part of its “Grow with Grab” roadmap. Grow with Grab” is its full push into lending and insurance, the company said in the press release.

Lending 131

Lending Fintech Groups Policies 131

Gonzobanker

MARCH 6, 2020

Addressing common loan and deposit operations process inefficiencies can help financial institutions deliver optimized value to customers and stockholders. In recent years, many financial institutions have been focused on improving their digital delivery capabilities, often at the expense of their operational groups.

Operations 108

Operations System Groups Technology 108

PYMNTS

SEPTEMBER 9, 2019

JD.com and the biggest retailer in Thailand, Central Group, have launched a financial services app called Dolfin to help connect with local banks and increase the companies’ online presence, according to a report by Reuters. The app has e-wallet capabilities, digital lending services and wealth and insurance management.

Groups 125

Groups Google Lending Online 125

BankInovation

JUNE 3, 2021

China is allowing Jack Ma’s Ant Group Co. to start operations at its consumer finance company, the first sign of progress after a regulatory crackdown torpedoed the fintech giant’s record listing.

Lending 91

Lending Groups Fintech Operations 91

PYMNTS

JANUARY 19, 2021

Italy’s BNL , part of BNP Paribas Group , has debuted its multi-banking solution developed in conjunction with open banking FinTech Tink , according to a press release. Absa Group Collabs With Surecomp. The FI aims to wield Backbase tools to create digital banking channels across its operations, with its focus first landing on SMBs.

Fintech 341

Fintech National Groups Tools 341

PYMNTS

FEBRUARY 14, 2018

An alternative lending conglomerate based in the U.K. The firm is the holding company for an array of FinTech companies operating in supply chain finance, invoice finance and the dynamic discounting market. The companies were grouped together between 2014 and 2017 after investments and acquisitions by Arrowgrass Master Fund Ltd.,

Lending 122

Lending Capital Groups Financial Technology 122

PYMNTS

DECEMBER 19, 2017

Cryptocurrency holding company Integrated Ventures wants to disrupt the lending industry with blockchain. 18) of the launch of CryptoFunder, a blockchain platform that provides lenders with a way to store and manage lending information. Other companies have explored blockchain for the corporate lending space too.

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blockchain cryptocurrency Lending Company 122

PYMNTS

SEPTEMBER 3, 2019

The Bank of England released new data late last week warning that business bank lending in the country hit its lowest rate in nearly two years in July. billion decline in net lending to companies in the month driven by the $2.43 July saw a 3 percent growth rate in business bank lending, compared to 4.4 percent the month prior.

Lending 116

Lending Meeting Capital Industry 116

PYMNTS

AUGUST 18, 2019

SoftBank is ready to lend up to $20 billion to its employees so they can buy stakes in a fund aimed to spark investment in cutting-edge technology companies around the globe. Last week, SoftBank announced it had launched an “operating group” within its Vision Fund to create a relationship between its portfolio of investors.

Lending 135

Lending Groups Operations Strategy 135

PYMNTS

JANUARY 18, 2019

17) after markets closed that missed the Street, as merchant and services revenues were both below expectations, and write-offs tied to its lending business grew. Drilling down a bit, results from consumer and commercial services rose, but showed less transactions in the merchant and network services operations. billion.

Lending 135

Lending Cards Groups Operations 135

PYMNTS

OCTOBER 1, 2019

India-based financial services provider Reliance Capital has announced it will exit the lending market. Anil Ambani , group chairman of the non-bank financial company (NBFC), revealed the firm’s plans on Monday (Sept.

Capital 109

Capital Lending Regulation Operations 109

Bank Innovation

NOVEMBER 20, 2018

recently notified about 1,000 employees in its Consumer Banking and Payments, Virtual Solutions and Innovations groups of the bank’s plans to eliminate their positions. The future is always uncertain, but banks must prepare now, and this may spell trouble for innovation teams. Wells Fargo & Co. The […].

Innovation 170

Innovation Operations Groups Payments 170

PYMNTS

NOVEMBER 17, 2019

Sterling Bancorp announced that it has launched its new Innovation Finance Group , and has tapped veteran technology bankers John Hoesley and Josh Roberts to lead it. Before joining Sterling, Hoesley was at CIBC Bank USA with Josh Roberts, where the two established the Innovation Banking group in 2014.

Groups 116

Groups Innovation Capital Leadership 116

PYMNTS

DECEMBER 11, 2020

Consumers were flocking to digital and mobile banking well before the pandemic’s onset, but social distancing and limited branch operations highly accelerated that uptake.

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Groups Mobile Tools Branding 169

PYMNTS

MARCH 18, 2019

City of London Group (COLG) announced that it has raised £15.2 The funding will help the launch a new financial institution called Recognise, with a focus on lending to SMBs. With this latest round of funding, Recognise will bolster its team and develop its operating model before the bank’s official launch. “We

Groups 103

Groups Metro Lending Strategy 103

PYMNTS

AUGUST 6, 2018

China has ordered a lockdown of Beijing’s financial district Monday (August 6) to prevent individuals from protesting a crisis in the peer-to-peer (P2P) lending marketplace. Police were checking identity cards of anyone entering the area to prevent organized demonstrations by groups of investors that lost money as P2P lenders went under.

Lending 116

Lending Fraud Training Security 116

Independent Banker

OCTOBER 31, 2021

Offering digital lending isn’t about the bells and whistles. started developing its digital lending platform about three years ago—and the bank is really glad it did. “I’m Community bankers are increasingly recognizing that the future of digital lending is here. Illustration by Out of the box/Stocksy. By Beth Mattson-Teig.

Lending 91

Lending Community Bank Community North Dakota 91

PYMNTS

OCTOBER 2, 2018

Since its founding in 2012, the firm has specifically distinguished itself in a crowded field of tech-based underwriters, with its focus on the consumer group it calls the “underbanked middle class.”. Avant is really two businesses operating under one roof — connected in crucial ways, but separate in function.

Lending 134

Lending Alabama Online System 134

PYMNTS

JUNE 22, 2016

Germany’s Commerzbank is entering the marketplace lending space. The FI announced on Tuesday (June 21) that it will launch a peer-to-peer small business lending platform that acts as a matchmaking service between SMEs and institutional clients looking to provide investments. Businesses can borrow up to $11.3

Lending 101

Lending Payments Groups Innovation 101

PYMNTS

OCTOBER 9, 2020

In today’s top payments news around the world, cross-border payment platform dLocal has grown its network, while Mambu is joining forces with New Zealand digital lending platform Ranqx to enhance digital lending. Mambu, Ranqx Partner to Enhance SMB Digital Lending. dLocal Grows Cross-Border Payments Network in LatAm.

Lending 100

Lending Payments Mobile National 100

Payments Source

JANUARY 7, 2021

Jack Ma’s Ant Group Co. is planning to restructure its consumer credit operations so the company can continue lending nationwide under new regulations that would otherwise threaten to dramatically restrict its most lucrative business, people familiar with the matter said.

Lending 150

Lending Groups Regulation Operations 150

PYMNTS

SEPTEMBER 14, 2020

has said that it was chosen to be ByteDance’s “trusted technology provider” that will take over TikTok's American operations, and Alibaba is considering an investment in Grab. Plus, new regulations in China will make Ant Group support any payments, lending or finances with substantial funds. Technology Provider’. 14) after U.S.

Technology 148

Technology Groups Payments US 148

CFPB Monitor

NOVEMBER 4, 2021

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation, joined by John Culhane, a partner in the firm’s Consumer Financial Services Group, Lori Sommerfield, Of Counsel in the Group, Heather Klein, an associate in the Group, and Richard Andreano, a partner in the firm’s Mortgage Banking Group.

Lending 78

Lending Data Report Risk Management 78