Turns out, Amazon’s lesser known operation – small business lending – is also powered by machine learning, Bank Innovation has learned. […]. Exclusive Operations Technology amazon Amazon lending machine learning MORE

’s Financial Conduct Authority is looking to introduce new rules aimed at protecting investors of the alternative lending community, reports said Friday (Dec. The move coincides with the FCA’s release of its preliminary findings into its review of the alternative lending industry, which includes crowdfunding and peer-to-peer lending. B2B Payments alternative finance alternative lending B2B FCA payments regulation SME Finance SME lending What's Hot In B2B MORE

How Digital Disbursements Are Changing Low-Dollar Lending. Digital disbursements, however, are proving to be a valuable alternative to payday loans and other legacy lending options. . When payday comes, employees expect to have easy access to their wages. MORE

Just days after the Federal Reserve released a report highlighting the changing role of small business loans at community banks, the latest Biz2Credit Small Business Lending Index published, suggesting small and medium-sized business (SMB) lending at small banks remains strong. The Federal Reserve found in its “Community Banking in the 21st Century” report, released last week, that small business lending at community banks actually decreased by 2.2 MORE

KeyBank has acquired a digital lending platform for small businesses developed by Bolstr , the financial institution (FI) announced Wednesday (June 20). Bolstr’s technology transforms the small business lending process and allows us to more efficiently serve small businesses for their SBA and traditional lending needs.”. “We B2B Payments alternative lending B2B banking Bolstr KeyBank Lending News SMBs What's Hot In B2B MORE

Small business banking company Kabbage is set to acquire startup Orchard Platform Markets, a provider of lending data and services, it was reported yesterday. Capital Exclusive Lending Startups acquisitions capital Kabbage lending marketplace lending Orchard Platform Markets startups MORE

watchdog in charge of investor oversight proposed tough new regulations regarding peer-to-peer (P2P) lending platforms, in a bid to help consumers wade through the new landscape, according to a report by Reuters. The Financial Conduct Authority is looking to tighten up oversight over crowdfunding platforms, which provide short-term lending for small businesses and consumers, in part to make sure customers have clear information about the rules, terms and conditions. . The U.K. MORE

Two years ago today, Lending Club was ringing the bell on an IPO that one early investor called “a no-brainer.”. Lending Club’s model does not need bank branches on each street corner, and it can turn around in minutes and hours, not days. Laplanche is Renaud Laplanche, Lending Club’s colorful and highly quotable founder and first CEO, and he had that effect on a lot of people during the eight years between Lending Club’s IPO in 2014 and its beginnings. MORE

The lending department is key to credit unions fulfilling this mandate. Read more » The post Lending Data & the Credit Union Mandate appeared first on CU Direct Blog. Lending Lending Insights Portfolio Management Risk Management auto-decisioning credit risk credit union's portfolio data research indirect lending lending data loan growth loan originations loan products MORE

Exclusive Innovations Lending Online Open Fintech Intuit QuickBooks small business lending small business loans SME banking SME lendingEXCLUSIVE – Business software provider Intuit today launched its first loan product through QuickBooks called QuickBooks Capital. MORE

Traditional banks remain reluctant to lend to small firms, the group said, using their size to gain a legal advantage over SMBs that file complaints with FIs. Commercial lending is still unregulated and, other than large fines, we have seen little that has changed – except perhaps the fact [that] lenders seem even more reluctant to lend and are even more keen to ensure terms of lending are onerous and biased in their favor,” the SME Alliance stated in written evidence to the committee. MORE

eBay’s entrance into small business lending follows the company’s recent push into B2B services. On the SMB finance front, eBay rival Amazon has also been ramping up lending services to its online merchants. Amazon rolled out small business lending services in several markets in 2015. Amazon may soon introduce its lending service in China, CNBC reported in June, citing a job opening listed on Amazon’s careers website. MORE

Lending FinTech GreenSky has confidentially filed paperwork for an initial public offering (IPO). While private investors have been generous in financing lending startups, IPOs have been scarce in recent years because of rising defaults among borrowers, as well as increased competition. IPO alternative lending FinTech Startups GreenSky GreenSky Stocks ipo News Online Loans Loan Service Recent IPos SEC What's Hot MORE

In the early days of online lending, the big appeal was access to funds for potential borrowers with few, if any, options for securing capital. Now, the tech-driven underwriting models that promised to assess risk more accurately, and extend credit more efficiently, may be confirmation that traditional risk and lending business models may have more going for them than their new, FinTech challengers once thought. MORE

CU Direct recently partnered with Visions Federal Credit Union on a case study that took a close look at the credit union’s success in the indirect lending marketplace, and the steps the credit union took to overcome the challenges it had in growing loans through the indirect channel. MORE

This technology is also changing how consumers lend and borrow money, according to Travis Holoway, founder of short-term lending exchange platform SoLo Funds , particularly when it comes to low-dollar or short-term loans. What we’re trying to do is bring that technology to lending.”. MORE

As Amazon presses further into China to compete with rivals like Alibaba , a job posting on the Amazon website may have just revealed plans for the eCommerce conglomerate to extend its small business lending program into the country. Reports in CNBC this week said Amazon posted a new position for manager of its small business lending program, and the job opening is based in China. Amazon first began lending to small businesses in 2015, beginning with the U.S., MORE

The P2P lending market is big business in the U.K. marketplace lending, the country’s P2P lending industry had hit £9 billion in loan originations from the group’s members as of Q1 2018. ’s biggest P2P lending market for consumers, announced a return to profitability earlier this month, and is currently pursuing plans to acquire a banking license that would open up deposits as a potential source of low-cost, high-stability funding. MORE

Marketplace lending platforms – Lending Club, OnDeck, Prosper and the like – have inarguably and fundamentally altered the geography of the lending landscape. The lending model has fundamentally changed,” Vallée told Harvard Business School Weekly. It’s the ‘he had a soft shake so I’m not going to lend to him,’ school of thought – and it is supremely outdated,” he noted. “Now MORE

By co-lending with Tata Capital, we can leverage their balance sheet, while they can diversify their portfolio by lending to newer sets of SMEs.”. B2B Payments alternative lending B2B capital float india News SMB lending supply chain finance Tata Capital What's Hot In B2BTwo Indian alternative lenders are partnering up to target the nation’s small- and medium-sized businesses (SMBs). Reports in The Economic Times on Thursday (Oct. MORE

It’s been a brutal year for the alternative lending industry. Scandals, staff cuts, rate hikes, and recently a Lending Club investment posted its first negative return in five years this August. MORE

Interest rates plummeted as the Fed held the federal funds rate at zero in the hopes of stimulating lending in an environment where credit went from dangerously free-flowing to dangerously non-existent in the span of a few months. At the time, lending to consumers and small businesses was choked off nearly entirely, unemployment skyrocketed to over 10 percent and the housing market ground to a halt and contracted suddenly. The New Subprime Lending Path. MORE

Amazon is partnering with Bank of America Merrill Lynch to expand its lending program for small businesses. Amazon Lending is an invitation-only program that offers loans of $1,000 to $750,000, with terms of up to a year, for companies that might have issues getting traditional business loans. A source said that the slowdown was intentional, as the company tries to get a handle on the credit risks that come with operating a large-scale lending practice. MORE

Wells Fargo might give its shrinking student lending business a boost by focusing on borrowers with U.S. The lender would offer loans to allow customers to retire their government-backed student debt, said Well Fargo’s Head of Personal Lending John Rasmussen, according to Bloomberg. Loans CFPB debt federal reserve government loans Lending News refinancing student loans wells fargo What's Hot MORE

The consumer bureau, under the direction of Mick Mulvaney, should never have made this transparent attempt to destroy an important consumer protection around payday lending. Loans CFPB loans Mick Mulvaney News PayDay lending What's HotA Texas court ruled on Tuesday (June 12) against delaying the compliance date for the Consumer Financial Protection Bureau ’s rule on payday loans. MORE

The Kansas businessman – facing a 2017 conviction for violating federal truth in lending and racketeering laws in connection with his online lending business – attempted to apologize for the $3.5 But more than a tutorial in how not to apologize pre-sentencing, some say that Tucker’s conviction and long sentence may be the beginning of the end of tribal short-term lending in the United States. Tribal Lending . MORE

As a consumer lending category with the fastest growth, outstanding balances for personal loans jumped by about 18 percent to $120 billion in the first quarter. A lot of credit goes to the FinTech lenders for reinvigorating a loan category that’s been around forever,” Jason Laky, TransUnion ’s consumer-lending business lead, told Bloomberg. “If The news comes as Goldman Sachs has boosted its presence in the consumer lending market. MORE

In practice, that means focusing more on the bank’s mobile offerings, growing LightStream (the bank’s online lending platform), and building out its tech.Read More. MORE

Large banks, e-commerce moguls like Amazon and eBay and tech firms are likely to enter the alternative lending space, and soon, according to Eden Amirav, co-founder, and CEO of startup LendingExpress. MORE

One of the interviewees in my new book ValueWeb is Ron Suber, President of Prosper Marketplace Lending. Markeplace Lending: Evolution of an Asset Class (The following post is excerpted from a keynoted speech I gave at the 2016 LendIt USA conference) Over … MORE

Lending Club has had a tough year. In early May, news broke that Lending Club had played fast and loose with its documents and disclosures, including the fact that then-CEO Renaud Laplanche had failed to disclose a personal stake in a firm Lending Club had an investment relationship with. As a point of comparison, Lending Club’s IPO stock price in 2014 was $24.69; a year ago, it was trading at around $14.37. Lending Club will charge a weighted average of 0.26 MORE

Changes may soon be coming to the Military Lending Act (MLA), a piece of legislation designed to prevent military service members from getting swept up in deceptive or unfair lending practices. The product causing concern on the auto lending side of things is gap insurance. It seems there is some concern that who and how military members receive lending could also be making a major turn – and not necessarily for the better. New Lending Rules . MORE

EXCLUSIVE— The number of businesses that are now conducting their banking via mobile is increasing by the year, according to global financial provider Kabbage, which noted that mobile lending saw a more than 360% increase across a four-year span. MORE

Alternative lending platform BlueVine has announced its latest investment to the tune of $60 million. B2B Payments alternative lending B2B BlueVine Equity Funding FinTech investments invoice finance Menlo Ventures SMB What's Hot In B2BA press release issued by the company said Menlo Ventures led the Series E equity funding round for BlueVine, which also saw backing from SVB Capital and other investors. MORE

15) that the company is now called QuickBridge and is expanding into the direct-to-business lending sector. ” In another statement, QuickBridge Vice President Jason Oslecki pointed to the company’s ability to better service SMEs by directly lending to borrowers. ” QuickBridge’s revamp comes at a time in the alternative lending space when players are looking to self-regulate ahead of possible action by lawmakers. MORE

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. Leading up to the police action, investors have been withdrawing funds from P2P lending platforms amid a wave of defaults across the industry in China. That, in turn, has caused some P2P lending platforms to collapse. MORE

Between 2015 and 2017, the amount of lending to small businesses by the five leading online lending providers increased 50 percent, according to a new report from NDP Analytics, a Washington, D.C.-based The report, entitled “The Economic Benefits of Online Lending to Small Businesses and the U.S. Economy,” found that the “nation’s largest FinTech small business lending platforms funded nearly $10 billion in online loans from 2015 to 2017, generating $37.7 MORE

Data is expected to show slower economic growth across Canada for the second half of 2017 and, along with it, a slowdown in small- and medium-sized business (SMB) lending, according to new research from small business credit data and analysis firm PayNet. In its “Small Business Lending Index,” released Tuesday (Dec. B2B Payments B2B canada Canadian Businesses Canadian Economy Canadian Manufacturing News PayNet Small business lending SMB SMB finance SMB lending What's Hot In B2B MORE

Payday and short-term lending is a contentious topic in the United States, particularly when it comes to its regulation. Ohio’s House Bill 123 officially exists to close a series of loopholes that existed under the state’s previous attempt at regulating the short-term lending industry, the 2008 Short-Term Loan Act. Particularly under scrutiny, according to reports, is international travel taken with payday lending lobbyists. MORE

All that to say this has been an especially tough week for CashCall, and possibly the entire installment lending industry in the state. MORE

Better originations, better sales, more revenue: wow, did Lending Club just report a positive quarter? Corporate Exclusive Lending Online Startups earnings Lending Club marketplace lending OnDeck online lending MORE

Digital lending is becoming an important business even for smaller community banks. Capital Exclusive Innovations Lending Online Open Fintech Premium BlueVine Bolstr JPMorgan Chase Kabbage KeyBank Lending Club Mirador MORE

have recently added digital mortgage lending, and that same […]. Commerce Corporate Exclusive Lending Online Premium Retail Sales & Marketing Country Bank Lauren Road lending online banking SME lending underwriting technology MORE