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
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
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
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
A deep read of OnDeck Capital‘s earnings report yesterday reveals this truth: the company is moving away from marketplace lending. Capital Corporate Lending Mobile Online Risk capital markets funding Lending Club marketplace lending OnDeck Capital Prosper MORE
New takes on lending and underwriting dominated the opening day of demos at FinovateSpring 2018 here yesterday. SANTA CLARA, Calif. - MORE
We have a lot of predatory lending out here, which we want to regulate,” Geoffrey Mwau, director general of budget, fiscal and economic affairs at the country’s treasury, said on Thursday (May 24). And, since Kenya has been an experimental case for new digital lending tools, Reuters said that the regulation will be closely monitored by fintech startups. MORE
It’s actually not very common for a startup to be started in subprime lending, debt collection—those areas that frankly require a lot.Read More. 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
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
Lending Club has had a busy seven weeks, following the scandalous exit of its CEO. Corporate Lending Online Risk Lending Club marketplace lending Scott Sanborn MORE
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. 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
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
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
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
Investors were looking to today’s Lending Club Corp. earnings as a sign of validation for the troubled marketplace lending sector. Capital Cards Lending Mobile Online Retail Risk Investing Lending Club LendingClub marketplace investor marketplace lending MORE
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. MORE
Student lending company Climb Credit is taking on this challenge by offering loans that do […]. Exclusive Lending Online Risk Alternative Lending Climb Credit Ferry Farm Capital FICO Student Lending MORE
The likes of OnDeck and Lending Club have made the borrowing experience significantly simpler for borrowers, removing paperwork and reducing the decisioning process down to minutes. Exclusive Lending Online Lending Club OnDeck online lending Thrive Venmo 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
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
Tremors are running through the alternative lending space. Perhaps most ominously, Lending Club CEO Renaud Laplanche suddenly stepped down when Read More. Prosper raised rates, cut staff, and saw a chilly reception from investors for its latest securitization. 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
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
Banks would then only be able to lend money they oversee in savings accounts or from what they get from the money markets or SNB. International Commercial Banking Lending News regulation Sovereign Money initiative Swiss National Bank Switzerland What's HotJean-Marc Decressonniere, a Switzerland banker, is one of few in the industry who plans to support a vote in June that would change the way traditional lenders operate in the country. MORE
Lending Club may be back on track with banks, but not soon enough to help its fourth quarter results. Corporate Lending Online Operations Risk Technology Alternative Lending earnings earnings results lending Lending Club online lenders Q4 Results 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
Marketplace lending space has been through a rough patch lately. Innovations Lending Online Technology Lending Club markeplace lending Prosper Sequoia CapitalHas that affected the volume of investment? MORE
Mobile lending app Tala today secured $65 million in its latest round of funding. Capital Exclusive Lending Mobile Online Open Fintech Consumer Lending India fintech Talamarked for its expansion to India. With over 1.3 MORE
Exclusive Innovations Lending Mobile Operations Payments Affirm alternative data artificial intelligence credit invisible Elevate FICO FICO score lending machine learning Petal Underwrite.ai MORE
FICO is moving major services to the cloud, and that may mean good times ahead for lending startups. Exclusive Lending Online Risk Startups Amazon Web Services AWS cloud services FICO lending online lending public cloud 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
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
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. MORE
All four of Australia’s Big Four lenders — Westpac, Australia and New Zealand Banking Group, Commonwealth Bank of Australia and National Australia Bank — admitted to misconduct related to small business (SMB) lending practices as the nation’s inquiry into industry wrongdoings continues. B2B Payments Australia B2B banking Finance Lending News regulation SMBs What's Hot In B2B MORE
China-based alternative small business lender China Lending Corporation released its Fiscal Year 2017 results this week, revealing financial difficulties and plans to prepare for more challenges ahead. China Lending Corporation also noted a net loss of $3.20 Our 2017 financial results highlighted increasing headwinds facing the micro-lending industry as the industry growth momentum slowed and competition heated up during the year,” he said. MORE
EXCLUSIVE- TD Bank today has partnered with cloud banking platform nCino, to integrate its corporate and commercial lending divisions with nCino’s Bank Operating System. The partnership allow TD Bank to digitalize the entire consumer lending process from start to finish. MORE
Lending, especially for small businesses, is an area that has been technologically stagnant for years—which is probably why at the moment it feels like it’s saturated with fintechs. Lending Online Technology Alternative Lending Bond Street Plousio small business loans MORE
EXCLUSIVE— Lending startup Upgrade is opening a new personal credit line today, designed to give customers all of the benefits of credit with none of its flaws. MORE
Lending Related Topics Bank Innovation
AUGUST 8, 2017
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
PYMNTS
JANUARY 16, 2018
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 .
Bank Innovation
APRIL 13, 2018
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
Bank Innovation
MARCH 13, 2018
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.
Bank Innovation
MARCH 26, 2018
EXCLUSIVE- TD Bank today has partnered with cloud banking platform nCino, to integrate its corporate and commercial lending divisions with nCino’s Bank Operating System. The partnership allow TD Bank to digitalize the entire consumer lending process from start to finish.
Bank Innovation
APRIL 18, 2018
Mobile lending app Tala today secured $65 million in its latest round of funding. Capital Exclusive Lending Mobile Online Open Fintech Consumer Lending India fintech Talamarked for its expansion to India. With over 1.3
Bank Innovation
NOVEMBER 7, 2017
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.
Bank Innovation
JUNE 8, 2017
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
PYMNTS
DECEMBER 10, 2016
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.
Bank Innovation
MAY 5, 2017
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.
Bank Innovation
MAY 6, 2016
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.
Bank Innovation
JULY 12, 2016
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.
CU Direct
MAY 10, 2018
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.
Bank Innovation
FEBRUARY 15, 2017
Lending Club may be back on track with banks, but not soon enough to help its fourth quarter results. Corporate Lending Online Operations Risk Technology Alternative Lending earnings earnings results lending Lending Club online lenders Q4 Results
PYMNTS
APRIL 3, 2018
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
PYMNTS
FEBRUARY 15, 2018
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.
PYMNTS
APRIL 2, 2018
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.
PYMNTS
OCTOBER 12, 2017
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
Bank Innovation
SEPTEMBER 21, 2017
Exclusive Innovations Lending Mobile Operations Payments Affirm alternative data artificial intelligence credit invisible Elevate FICO FICO score lending machine learning Petal Underwrite.ai
PYMNTS
APRIL 17, 2018
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.
Bank Innovation
MAY 24, 2016
Tremors are running through the alternative lending space. Perhaps most ominously, Lending Club CEO Renaud Laplanche suddenly stepped down when Read More. Prosper raised rates, cut staff, and saw a chilly reception from investors for its latest securitization.
PYMNTS
MAY 25, 2018
We have a lot of predatory lending out here, which we want to regulate,” Geoffrey Mwau, director general of budget, fiscal and economic affairs at the country’s treasury, said on Thursday (May 24). And, since Kenya has been an experimental case for new digital lending tools, Reuters said that the regulation will be closely monitored by fintech startups.
PYMNTS
APRIL 24, 2018
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
Bank Innovation
AUGUST 15, 2017
FICO is moving major services to the cloud, and that may mean good times ahead for lending startups. Exclusive Lending Online Risk Startups Amazon Web Services AWS cloud services FICO lending online lending public cloud
Bank Innovation
OCTOBER 10, 2016
Lending, especially for small businesses, is an area that has been technologically stagnant for years—which is probably why at the moment it feels like it’s saturated with fintechs. Lending Online Technology Alternative Lending Bond Street Plousio small business loans
Bank Innovation
MAY 9, 2016
Investors were looking to today’s Lending Club Corp. earnings as a sign of validation for the troubled marketplace lending sector. Capital Cards Lending Mobile Online Retail Risk Investing Lending Club LendingClub marketplace investor marketplace lending
PYMNTS
NOVEMBER 16, 2016
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.
Bank Innovation
DECEMBER 13, 2017
Student lending company Climb Credit is taking on this challenge by offering loans that do […]. Exclusive Lending Online Risk Alternative Lending Climb Credit Ferry Farm Capital FICO Student Lending
Bank Innovation
APRIL 10, 2018
EXCLUSIVE— Lending startup Upgrade is opening a new personal credit line today, designed to give customers all of the benefits of credit with none of its flaws.
PYMNTS
OCTOBER 6, 2017
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.
PYMNTS
DECEMBER 20, 2017
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
PYMNTS
MAY 22, 2018
All four of Australia’s Big Four lenders — Westpac, Australia and New Zealand Banking Group, Commonwealth Bank of Australia and National Australia Bank — admitted to misconduct related to small business (SMB) lending practices as the nation’s inquiry into industry wrongdoings continues. B2B Payments Australia B2B banking Finance Lending News regulation SMBs What's Hot In B2B
Bank Innovation
JUNE 9, 2016
Marketplace lending space has been through a rough patch lately. Innovations Lending Online Technology Lending Club markeplace lending Prosper Sequoia CapitalHas that affected the volume of investment?
PYMNTS
MAY 2, 2018
China-based alternative small business lender China Lending Corporation released its Fiscal Year 2017 results this week, revealing financial difficulties and plans to prepare for more challenges ahead. China Lending Corporation also noted a net loss of $3.20 Our 2017 financial results highlighted increasing headwinds facing the micro-lending industry as the industry growth momentum slowed and competition heated up during the year,” he said.
PYMNTS
MAY 24, 2018
Banks would then only be able to lend money they oversee in savings accounts or from what they get from the money markets or SNB. International Commercial Banking Lending News regulation Sovereign Money initiative Swiss National Bank Switzerland What's HotJean-Marc Decressonniere, a Switzerland banker, is one of few in the industry who plans to support a vote in June that would change the way traditional lenders operate in the country.
Bank Innovation
MAY 5, 2017
The likes of OnDeck and Lending Club have made the borrowing experience significantly simpler for borrowers, removing paperwork and reducing the decisioning process down to minutes. Exclusive Lending Online Lending Club OnDeck online lending Thrive Venmo
Bank Innovation
MAY 4, 2016
A deep read of OnDeck Capital‘s earnings report yesterday reveals this truth: the company is moving away from marketplace lending. Capital Corporate Lending Mobile Online Risk capital markets funding Lending Club marketplace lending OnDeck Capital Prosper
Bank Innovation
MARCH 27, 2018
It’s actually not very common for a startup to be started in subprime lending, debt collection—those areas that frankly require a lot.Read More.
Bank Innovation
JUNE 28, 2016
Lending Club has had a busy seven weeks, following the scandalous exit of its CEO. Corporate Lending Online Risk Lending Club marketplace lending Scott Sanborn
PYMNTS
OCTOBER 18, 2016
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
INDUSTRY INSIGHTS YOUR PEERS ARE READING
258 
Let's personalize your content