CFPB Monitor

JUNE 12, 2019

(Such algorithms are often referred to as “artificial intelligence.”). In their letter, the Senators reference research results showing that “the algorithms used by FinTech lenders are as discriminatory as loan officers.”

FDIC 111

FDIC Fintech Lending Innovation 111

Abrigo

JULY 10, 2020

Using leading technology, innovative BSA/AML software providers are harnessing the power of artificial intelligence (AI) and machine learning for behavior-based analysis. Many people within the industry may refer to rules as simplistic “if, then” logic that may create excess false positives. Lending & Credit Risk.

Analytics 195

Analytics Software Lending Analysis 195

Accenture

OCTOBER 14, 2019

Guest blogger Markus Naumer examines how digital payments technology is enhancing credit lending and showing promise in addressing consumer credit-aversion challenges. In most European countries, for example, unsecured card lending is less than 18 percent of total unsecured consumer lending.

Payments 150

Payments Lending Examples Innovation 150

PYMNTS

JULY 18, 2016

Lending Club continued to prove there is almost always more to the story, American Express announced a surprise collaboration with Airbnb and PayPal pushed harder into B2B payments. Lending Club’s Latest Bad News. The last several weeks of news for Lending Club suggest that there’s a little of both to be had here.

Lending 100

Lending Payments Metro Cards 100

Jack Henry

AUGUST 21, 2019

Headlines with references to “Open APIs” and “Shared Data” continue to appear in inboxes and popular topics with industry reports. As we speak, tech behemoths like Google and Amazon continue to take an innovative approach to customer engagement and expansion. Consumers clearly want freedom, flexibility, and choice.

User Experience 104

User Experience Google Lending Industry 104

PYMNTS

DECEMBER 20, 2018

small businesses beginning in 2019, calling the space a traditionally “slow-moving, opaque an complicated process” in need of digitization and technological innovation. OnDeck began piloting its equipment financing solution earlier this year, referring small businesses to third-party originators and loan service providers.

Lending 130

Lending Online Survey Marketing 130

PYMNTS

FEBRUARY 23, 2020

To offer expanded services as it pursues a digital innovation strategy of harnessing partnerships to provide an enhanced customer experience, Fifth Third is teaming with Fundation for small business loans. The program requires traditional banks to refer small businesses to alternative lenders if they’re not accepted for a loan.

Customer Experience 130

Customer Experience Innovation Strategies Guidelines Meeting 130

Abrigo

MAY 11, 2020

When the program opened on April 3, hopeful borrowers flocked to their banks and credit unions – figuratively speaking – to apply for a loan, only to find that their financial institution was only going to lend to customers with a certain level of relationship. Lending & Credit Risk. SBA Lending. Lending & Credit Risk.

US 195

US Lending Community Technology 195

PYMNTS

JANUARY 7, 2021

When I look at FinTechs-versus-financial services, the reality is the competition that those two marketplaces generate actually generate innovative partnerships between themselves that create that bridge to progress," he said. In a statement, Satago CEO Sinead McHale pointed to the value of bank-FinTech collaboration for SMBs.

Strategy 196

Strategy Fintech California Community 196

PYMNTS

AUGUST 20, 2020

Seventy percent of SMBs are adding new digital capabilities or enhancing existing ones to continue their operations, but firms often require financing to implement these innovations. SMB Lending Risks. One of the most pressing issues plaguing SMB lenders is the risk of fraud.

Fintech 177

Fintech Fraud Lending Regulation 177

Abrigo

OCTOBER 20, 2016

The wave of technological innovation that has swept the business world in the past several years has fundamentally altered how many industries do business. Perhaps no industry has been so disrupted by this wave of technological innovation as the banking industry. Perhaps even more so than speed, this is where software really shines.

Software 150

Software Lending Community Bank Taxes 150

PYMNTS

MARCH 10, 2020

In a recent conversation with PYMNTS, Raghav Mathur, head of data science and analytics at Singapore-based Grab Financial Group , discussed the opportunities in data technology that can address the region’s most pressing SMB lending needs. Improving The SMB Lending Experience. Asymmetric Information Exchange.

Data 193

Data Lending Capital social media 193

Bank Innovation

MAY 31, 2017

I recently sat down with the marketing team at Anthemis to talk about the changes happening in SME banking and the opportunity for innovation. PSD2 refers to a the second iteration of the European Payments Service Directive. Hi John, so why is SME banking getting so much attention at the minute?

Capital 316

Capital Lending Data Maine 316

PYMNTS

SEPTEMBER 11, 2017

Alternative lending hasn’t completely lost its edge with investors. The alternative lending industry in the U.K. The alternative lending industry in the U.K. based invoice and trade finance firm Reward Finance Group recently reported it had raised more than $51 million from Foresight Group.

Lending 109

Lending Groups Capital Resources 109

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 access to these richer and more accurate data sources allows for better lending decisions, faster capital and more innovative solutions, which puts the SMB and lender in a much stronger position,” noted Burke.

Policies 195

Policies Data Lending Exercises 195

PYMNTS

NOVEMBER 17, 2020

Embedded finance, the release noted, refers to the integration of financial service technologies with other provider solutions. And on the flipside, lenders and service providers need data to innovate faster and deliver better offerings. We're witnessing an inflection point in embedded finance today, amidst extremely uncertain times.

Tools 167

Tools Capital Analysis Financial Technology 167

Abrigo

OCTOBER 4, 2022

Takeaway 3 Innovation and continued digital transformation are necessary to pull ahead of your competition and take full advantage of rising rates. These options do not simply refer to types of institutions but also products available. Lean on innovation. Lending & Credit Risk. Lending & Credit Risk.

Strategy 195

Strategy eBook Security Management 195

PYMNTS

MAY 8, 2020

The prevailing sentiment, as the crisis heads into its third month, is that more innovative government programs will be necessary to provide any meaningful relief. Most small businesses don’t have a lending relationship with a bank. Government agencies would lend at 1 percent, branding the program “One for America.”. “In

Maine 142

Maine Groups San Francisco Lending 142

William Mills

DECEMBER 12, 2017

Now in its 23 rd year, the conference featured more than 20 technology providers and rallied together innovators from across the globe to discuss how financial institutions can better engage with business customers… and the timing couldn’t be better. Think Quicken Loans® on steroids but for small business lending. www.miradortech.com.

Conference 40

Conference Innovation Lending Customer Experience 40

Abrigo

SEPTEMBER 11, 2023

While leaders must learn and stay informed about innovations, it’s helpful to remember in the process that they often result in life-changing improvements for our businesses and our consumers. Take the financial services industry as an example. So, what is generative AI?

Risk Management 195

Risk Management Data Technology Fintech 195

PYMNTS

JULY 24, 2019

BB&T Chairman and CEO Kelly King said in his own remarks that there is a commitment in place to invest an incremental $100 million annually into innovation and technology that will “create a digital client experience that is second to none.” During questioning by lawmakers, and in reference to scale, Rep.

Community 130

Community Massachusetts United States California 130

PYMNTS

FEBRUARY 18, 2019

He added that “at a more granular level, the CFPB has shifted from looking only at the direct impact on consumers of the lending practice in question to a broader balancing effort in which consumer access to credit is considered as well.”. I do not foresee significant stakeholders coming to agreement on this matter.”. Sloan to Go It Alone.

Lending 122

Lending Regulation America Capital 122

CB Insights

APRIL 22, 2020

As a reference, 10-year default rates for SBA loans provided by traditional lenders have ranged from 12% to as high as 25%. Most alternative lenders, such as BlueVine , and the algorithms their lending decisions rely on are a post-2008 phenomenon. LENDING MARKETPLACES CAN SHOWcase THEIR UTILITY. worth of loan applications.

Fintech 87

Fintech Lending Online Examples 87

PYMNTS

JUNE 17, 2016

You want to buy them out,” referring to the banks. A few days later, one of the founding fathers of FinTech, Renaud Laplanche , was forced out of Lending Club, the peer-to-peer lender he founded in 2006, following scandals over loan disclosures and conflicts of interest. Lending Club alone sent an astounding 33.9

Bitcoin 100

Bitcoin Lending blockchain Fintech 100

CFPB Monitor

MAY 22, 2020

The Federal Reserve, OCC, FDIC, and NCUA have issued “ Interagency Lending Principles for Offering Responsible Small-Dollar Loans.” In that statement, the agencies indicated that they were “working on future guidance and lending principles for responsible small-dollar loans.”. Federal law (12 U.S.C.

FDIC 78

FDIC Policies Lending Guidelines 78

CFPB Monitor

NOVEMBER 22, 2022

While the report does not address “true lender” challenges in bank/fintech lending relationships, it does discuss the risk of “so-called ‘rent-a-charter’ schemes that market themselves as innovative fintech lending platforms, but operate with essentially the same harmful business model as a traditional payday lender.”

Fintech 78

Fintech Report Data Lending 78

PYMNTS

SEPTEMBER 20, 2018

When combined with innovative authorization parameters, each invoice can be controlled and reconciled in a much more efficient and safe manner, bringing a great deal of value to buyers and suppliers. The Friction Points Hindering Adoption. Being able to capture these rules will allow buyers to offer better options to their supplier base.”.

Cards 191

Cards Innovation Industry Payments 191

Gonzobanker

FEBRUARY 11, 2021

While FIs have a tendency to complain about their vendors (oh, come on, you know you do), they also realize that their vendor relationships are critical to their ability to innovate, digitally transform and deploy new technologies. Improving efficiency.

Lending 128

Lending Fintech Technology System 128

CFPB Monitor

FEBRUARY 12, 2019

Democratic Congressman Bill Foster, who represents the 11th District of Illinois, has sent a letter to Maxine Waters, Democratic Chairwoman of the House Financial Services Committee, to express his “strong interest in serving as the Chair of the Taskforce on Financial Technology and Innovation that will be convened in the coming weeks.”

Fintech 68

Fintech Illinois Community Financial Technology 68

CFPB Monitor

MAY 3, 2021

Since the non-bank entity frequently is a fintech, these arrangements often are referred to as bank-fintech partnerships or marketplace lending arrangements. These speakers consistently conflated payday lending and bank-fintech partnership lending, and ignored correction of this mis-characterization by other witnesses.

North Carolina 60

North Carolina Lending National District of Columbia 60

PYMNTS

FEBRUARY 4, 2019

Of the scores of innovations and updates to consumer lending seen and written about over the last decade or so, speed is always offered as a central value proposition. However, simply making an existing process faster, LoanSnap CEO and Co-founder Karl Jacob told Karen Webster, does not make a complete lending product.

Management 122

Management Lending Cards Training 122

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

SEPTEMBER 9, 2019

The second hearing focused on innovation and competitive impact on the tech space, and panelists included executives from Apple , Amazon and Google. Take the tech sector: You have seen a lot of innovation, but you also have platforms with network effects that lend themselves to scale.”.

Rhode Island 189

Rhode Island District of Columbia Google North Carolina 189

Abrigo

JULY 12, 2021

While many of these extremists (also referred to as extreme right-wing (ERW) terrorism) are loan wolves, it is understood that there are also small to medium sized organizations, some transnational. Lending & Credit Risk. According to FATF, this is the first comprehensive assessment of how REMVEs raise, move, and use funds.

Training 195

Training Policies United States Report 195

Bank Innovation

FEBRUARY 22, 2016

MLC, as Visa refers to the offering, is a mobile service that uses geo-location information to predict whether it is the account holder or an unauthorized user making a Read More. It is just more than a year since Visa introduced its Mobile Location Confirmation service. And Visa has managed to nail down but two clients.

Mobile 150

Mobile Management US Cards 150

FICO

JULY 18, 2022

However, over the last decade, new credit score providers have developed scores entirely or predominantly with ML, which they touted as more innovative and effective for fair, inclusive credit decisions for lending, particularly for underbanked and “unscorable” populations. Can Arkali. See all Posts. chevron_left Blog Home.

Analytics 52

Analytics Lending Data Industry 52