Is Lending Club Back?

Bank Innovation

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

Digital lending fintech enters auto

Bank Innovation

LAS VEGAS — Bank of Oklahoma has adopted Blend’s digital lending platform, the fintech announced at the 2019 Auto Finance Summit. Carousel Lending Premium Retail Banking Startups Auto Finance News Blend

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Goldman Lends MercadoLibre $125M

PYMNTS

The Goldman Sachs loan won’t be used to finance lending in Brazil. “We Goldman Sachs’ loan is being done via the company’s structured finance, investment and lending business, headed by Ram Sundaram. Goldman Sachs is loaning $125 million to Mercado Crédito , a unit of MercadoLibre.

3 Alternative Lending Startups to Watch

Bank Innovation

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.

Affirm, Lending Tree CEOs tout gains among young borrowers

Bank Innovation

Lending platforms are evolving to the needs of younger customers’ financial habits, a pair of fintech executives told an audience at CB Insights’ Future of Fintech conference in New York Wednesday.

How PSD2 Will Change Lending

PYMNTS

How PSD2 is Changing Lending in the U.K. For third-party providers, such as P2P lending and investment provider Zopa , PSD2’s data transparency rules provide an opportunity to “level the playing field” when it comes to gaining that consumer trust.

How to Increase Member Business Lending

Abrigo

Small Business Loans | 5 minute read Key Takeaways Credit unions' small business loans hit a record low, while small business lending continues to remain strong at big banks and community banks. in September 2019 – a record low, according to the Biz2Credit Small Business Lending Index.

SMB Lending In Australia After Lending Standards Are Waived

PYMNTS

Australia is making small business lending easier by waiving responsible lending standards for small firms. It will mean that we will be faster in our decision making and we will not get as tied up as delving into a level of detail that was not relevant or core to the lending decision.

Google ban fails to stamp out short-term payday lending apps

Bank Innovation

Bloomberg Carousel Lending Product Design Startups Google Google Play payday loansIn August, Google announced a global crackdown on Android apps that offer short-term loans, saying it wanted to protect consumers from what it called “deceptive and exploitative” terms.

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Ally reports strong deposit growth as it expands lending product suite

Bank Innovation

Carousel Innovation Strategy Lending Payments Premium Retail Banking Sales & Marketing Ally Bank Ally Financial earningsAlly Financial this week reported it’s continuing its winning streak in deposit growth.

PayPal Hits $10B SMB Lending Milestone

PYMNTS

So, it’s within that context that PayPal announced new numbers today (May 29) on the impact of its lending business on the small business sector. In a new PYMNTS interview, Karen Webster spoke with PayPal’s VP and General Manager of SMB Lending Darrell Esch about the story behind that $10 billion mark, and what’s coming next. The new PayPal SMB lending milestone comes at an exciting, and perhaps even sensitive, time for small businesses, both in the U.S.

Capital One: Pressure from non-banks is hurting commercial lending

Bank Innovation

Capital One‘s commercial lending business is facing price pressure from a saturated market of lenders, including non-banks, that are pushing interest rates down. Carousel Corporate Banking Lending BlueTarp BlueVine Capital One Kabbage OnDeck

Kabbage Raises $700M For SMB Lending

PYMNTS

Kabbage, the global financial services company for small businesses, announced Monday (April 8) it has closed the largest asset-backed securitization (ABS) by a small business online lending platform to date for $700 million.

The Evolution of Lending Through Fintech

Bank Innovation

The lending market is going through some major, rapid changes, and it’s more exciting than ever for consumers looking for attractive deals on their loans. Lending Open Fintech Sponsored alternative lenders Brainwave Technologies online lenders

Has Alternative Lending Seen Its VC Peak?

PYMNTS

The industry indeed proved to be lucrative for FinTechs, with alternative lending often landing at the top of venture capital investment reports with giants like Kabbage , OnDeck and LendingClub securing an early lead in the industry.

The Hidden Risk in Commercial Lending

Banker to Banker

For commercial banks, it is the unexpected loss that is more important for lending decisions and long-term profitability. MANAGING CREDIT RISK Most risk managers are intimately familiar with the expected loss for credit and interest rate risk.

Alternative Lending Is in Trouble? No One Told Elevate

Bank Innovation

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.

PayPal Marks £1B Milestone In UK Alternative Lending

PYMNTS

As has been reported, the company’s capital lending program lets companies receive cash advances against future revenues. The firm also noted that its growth in small business lending came against a backdrop where traditional bank lending to smaller companies was flat in that same period.

OneConnect Wields Government Data For SMB Lending

PYMNTS

Chinese firm OneConnect , a blockchain-based small business (SMB) lending platform owned by insurance giant Ping An, has launched a new portal to facilitate SMB lending in the Guangdong province, the company announced on Monday (Jan.

Lending Fintechs Acquire Analytics Fintechs: So What?

Gonzobanker

Q2’s acquisition follows many years of paced, organic growth in consumer and business digital banking and a string of acquisitions including digital deposit origination specialist Gro Solutions and loan/lease origination system provider Cloud Lending.

Amex acquires Acompay to bolster lending business

Bank Innovation

Carousel Corporate Banking Daily Post 2 Innovation Strategy Lending Premium acompay American Express bill.com BlueTarp Brex Capital One Mastercard Visa

SMB Payments, Lending Startup KiWi Grabs Funding

PYMNTS

Investors have backed Switzerland-based FinTech startup KiWi to help the firm expand its small business payments and lending operations in Mexico, reports in BankingTech said Monday (Jan.

SunTrust CIO Talks Zelle, Lending, and Innovation

Bank Innovation

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.

WeLab Eyes Services In China Beyond Lending

PYMNTS

So it is with the Chinese alternative lending space, with various nomenclature in place, seemingly interchangeable, embracing P2P loans or internet lending – in short, funds flowing outside the confines of the bank branch and the teller window.

Top Lending & Credit Risk Blog Posts of 2019

Abrigo

The top lending and credit blog posts focused on improving loan pricing, creating a better experience for borrowers, and developing risk ratings. Those priorities are apparent in the most popular Abrigo lending and credit blog posts for the year. Popular articles about credit, lending. What is Digital Lending and How Can Community Banks, Credit Unions Benefit? Another option is to make small business lending more efficient and borrower-friendly. “We Lending.

California’s Proposed Business Lending Rules Draw Support

PYMNTS

Proposed regulations would give small businesses in California the nation’s most extensive set of truth-in-lending protections for small business borrowers. . In 2018, California began the journey of establishing lending transparency for small businesses in the state.

Biz2Credit Links With Infosys For SMB Lending-As-A-Service

PYMNTS

Small business lending platform Biz2Credit is collaborating with consulting firm Infosys to expand its white label small business lending-as-a-service solution to more financial institutions. Together, we can make it easier for banks to reimagine lending and embrace innovation faster.”.

SMBs’ Online Lending Surge Raises Borrower Protection Concerns

PYMNTS

30) said a lack of regulation in the online SMB lending arena is raising concerns over sky-high fees and interest rates, sparking a bigger conversation about expanding borrower protections beyond consumers.

Yet Another Association for Marketplace Lending Launches

Bank Innovation

That’s what the industry needs: competing marketplace lending associations. Today, the three big names in marketplace lending (for now — more on that below) that were not in the just-launched Marketplace Lending Association have formed the Innovative Lending Platform Association.

Building A Better Payday Lending Product

PYMNTS

OppLoans CEO Jared Kaplan told Lend Academy that it is a reputation that the industry has done a lot of work to bring upon itself by taking advantage of desperate people living in desperate times.

Banks Elevate SMB Lending With FinTech Tie-Ups

PYMNTS

and beyond, with small business lending a particular focal point of these partnerships. Banks Embrace FinTech For Business Lending. In Australia, challenger bank Judo Bank said it will integrate the commercial lending SaaS of InfraRisk into its own small business lending operations.

Lending and Credit Automation: Before and After

Abrigo

Slow lending decisions and frustrating loan application processes are among borrowers’ biggest gripes with traditional financial institutions vs competitors such as online or alternative lenders. Drive faster lending decisions. Lending. Lending. Lending.

Starling Debuts New Business Lending Strategy

PYMNTS

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.

Amid FICO Changes, Does Lending Slowdown Loom?

PYMNTS

The net effect will be that it may be harder for many Americans to qualify for loans — in an age, we note, where debt levels and personal lending have been on an upswing. Might the rising tide of debt slow to a trickle? If so, the U.S.

Judo Bank Adds InfraRisk Tech To Bolster SMB Lending

PYMNTS

Australia challenger bank Judo Bank has announced a collaboration with credit management Software-as-a-Service (SaaS) provider InfraRisk to bolster its small business lending operations. Together, we will apply cutting-edge technologies to provide superior lending services for SMEs.”

Kabbage Set to Acquire Lending Data Startup Orchard Platform Markets

Bank Innovation

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

Indonesian Lending FinTech JULO Closes $15M Series A

PYMNTS

Indonesian peer-to-peer lending platform JULO is closing its Series A2 funding round with $15 million raised, after extending its initial $5 million Series A funding by an additional $10 million, according to a report. In South Asia, digital lending is becoming more and more common.

Lending Club Underwriting Questioned As Chargeoffs Climb

Bank Innovation

Scandals aside, Lending Club has been doing well in the area that mattered — borrowers were paying back their loans. But a new report from the Wall Street Journal indicates that chargeoff rates at Lending Club are up 38% since 2013.

Sub-Prime Lending’s Late-Year Bounce

PYMNTS

In some areas, the growth in sub-prime lending matches overall growth in the segment, with credit cards and personal loans as the best example. Auto lending saw its sub-prime loans delinquency rate improve by 15 basis points, from 6.9 According to the latest Q3 2018 TransUnion’s Industry Insights Report the back half of 2018 has been a good year for sub-prime borrowers looking for access to credit.

U.K. Scrambles To Prop Up Business Bank Lending

PYMNTS

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 percent growth rate in lending for the month.

Laurel Road Scores Country Bank for Digital Lending

Bank Innovation

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

Record Number of Banks Want to Partner with Lending Club

Bank Innovation

Lending Club might be through the woods, thanks to banks. Banks made up a “record” 40% of the lender’s almost $2 billion originations for the quarter, up from 31% last quarter, according to Lending Club CEO Scott Sanborn.

Amazon Uses Its Machine Learning Tools for Lending

Bank Innovation

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

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