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.

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’s $1.4T Travel Payments Plan

PYMNTS

trillion leisure travel market is ripe for the same kind of digital lending options that have emerged in other parts of the retail ecosystem. The platform allows travel operators to offer digital lending options as a seamless part of making the travel reservation.

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.

Where B2B Payments, Banking And Lending Connect

PYMNTS

Since the 2008 financial crisis, B2B vendors have essentially morphed into financiers for their own customers, lending out goods and services as they wait months to be paid. B2B payments is all too often a waiting game, one that can be damaging to the survival of a small business (SMB).

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.

SMB Lending Crunch Hits China

PYMNTS

According to Coface’s Asia-Pacific Economist Carlos Casanova, China should consider easing interest rate caps that discourage banks from lending to small businesses.

Capital One, Discover Tightening Lending Standards

PYMNTS

Capital One Financial and Discover Financial Services, two of the largest credit card issuers in the country, are tightening lending standards, which is reportedly an unusual move in an economy that is booming.

Changes On Deck For The CFPB’s Payday Lending Rule

PYMNTS

Could it be that the CFPB, under new Executive Director Kathy Kraninger , will be moving directly to eliminate the more controversial provisions of its payday lending rule?

Goldman Tightens Marcus Lending Reins

PYMNTS

Goldman Sachs might be reining in its online lending platform due to concerns about the stage of the credit cycle and changes in market data. According to the sources, the change in 2019 plans is due to current market conditions for consumer lending and could change.

PayNet, Numerated Pair Up For Business Lending Risk Analytics

PYMNTS

Financial technology (FinTech) company Numerated , which links financial institutions (FIs) with digital business lending and sales solutions, has announced a partnership with PayNet to integrate risk analytics into its offering.

The Changing Face Of Short-Term Lending

PYMNTS

About a year ago, the CFPB, which now goes by the BCFP, dropped the final version of its payday lending regulations. Within two months, Mulvaney announced (in January of 2018) that the CFPB wanted to revisit the payday lending regulations with an eye toward their revision.

HSBC Digitizes SMB Lending In Canada With Biz2Credit Partnership

PYMNTS

HSBC Bank Canada is collaborating with alternative lending firm Biz2Credit to streamline and digitize small business lending in the country. B2B Payments B2B banking canada Digital Loan News partnership Small business lending Small Business Loans SMB lending SMB loans What's Hot In B2

PayPal Invests In Emerging Markets Lending App Company Tala

PYMNTS

Tala, the consumer lending app in emerging markets, announced Monday (Oct. Alternative Finances alternative lending digital lending financial inclusion FinTech funding Investment News PayPal Startup underwriting Venture Capital What's Hot

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

GAO: FinTech Firms, FIs Seek Alternative Data Clarity In Lending

PYMNTS

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. Such alternative data, said the GAO, could pose risk to such lending decisions.

Amex Misses In Q4 Amid Lending Write-Offs

PYMNTS

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. American Express posted earnings results on Thursday (Jan.

China Lending Expands B2B Offerings With Supply Chain Service

PYMNTS

China Lending Corporation has announced the launch of its new supply chain financing services, which include a business factoring program. a recently-incorporated, majority-owned subsidiary of China Lending. In addition, China Lending has acquired 98.04

CFPB To Overhaul Payday Lending Rule

PYMNTS

As part of a move to revise a payday loan regulation from the Obama era, the Trump administration on Wednesday (Feb. 6) revealed a plan to remove a provision that would make it harder for companies to provide customers with high-cost loans, according to a report in The Wall Street Journal.

Tax Reform Shows Early Signs Of SMB Bank Lending Impact

PYMNTS

While FIs vowed to use those savings for a variety of measures, such as increasing small business lending, reports said lending growth has actually slowed since the implementation of the tax reform. Overall, the top banks saw lending grow by 2.3

Taxes 178

UK MPs Call For Overhaul Of Business Lending Rules

PYMNTS

policymakers, or Members of Parliament (MPs), are slamming financial institutions (FIs) for their treatment of small business (SMB) borrowers, and are calling on the government to overhaul business lending regulations as a result.

China’s P2P Lending Market Expected To Shrink In 2019

PYMNTS

The P2P lending market in China has been rife with scams and controversy for some time now. Bloomberg, citing people with knowledge of the matter, noted that Chinese authorities are gearing up to shut down small and medium-sized P2P lending platforms across the country. Prior to the recent activity on the part of the Chinese government , this type of lending was seen as one of the riskiest and least regulated areas of the financial markets.

Is Tribal Lending Done?

PYMNTS

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 .

Credit Union Embraces Digital Lending System, Grows Indirect Lending to Become Wisconsin’s #2 Auto Lender

CU Direct

University of Wisconsin Credit Union (UW Credit Union) has come a long way with its indirect auto lending since first implementing CU Direct’s CUDL Platform – in more ways than one. Auto Lending Indirect Lending Lending Auto lending CUDL Platform digital lending system indirect lending

How Digital Disbursements Tools Are Changing Low-Dollar Lending

PYMNTS

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.”.

Tools 219

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.

US Bank Designs Online SMB Lending Platform

PYMNTS

Bank has debuted its online lending portal for small business borrowers, the financial institution announced on Tuesday (Sept. Bank, which revealed its online lending platform for small businesses to access a loan or line of credit. ” B2B Payments B2B business lending Digital Banking News online loans Small business lending Small Business Loans SMB lending SMB loans U.S.

Consumer Lending In UK Declines Amid Brexit Uncertainty

PYMNTS

economy is showing further signs as lending to consumers in the country increased at the slowest pace in close to four years. Reuters , citing the Bank of England data, reported the growth rate for unsecured consumer lending increased 7.1 The pre-Brexit decline in the U.K.

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.

B2B Payments Firm PayMate Enters SMB Lending Market

PYMNTS

India-based PayMate is expanding its offering beyond B2B payment services as it steps into the small business (SMB) lending market. The company also recently acquired online peer-to-peer (P2P) lending platform Z2P Technologies for an undisclosed sum.

Cred Opens Crypto Corporate Lending Platform To Developers

PYMNTS

Cryptocurrency-backed lending platform Cred is opening up its technology to third-party developers, the company has announced. “Lending and earning crypto are hard businesses to get right, particularly in a bear market,” he said.

Prospa Agrees To Fair Lending Code Following Backlash, Nixed IPO

PYMNTS

Australian alternative small business lender Prospa is hoping to start the new year off right, announcing that the company will adhere to the industry’s co-called Code of Lending Practice, a voluntary code for alternative lenders to promote fair terms and customer protections.

Lending 360 Upgrades Southwest Airlines FCU’s Lending Experience to First Class

CU Direct

The $555 million Southwest Airlines FCU kept this in mind as it prepared to launch the Lending 360 loan origination system (LOS) two years ago. To minimize that fear, the Dallas-based credit union had its lending staff.

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

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

Alipay Ramps Up Supply Chain, Lending Services To SMBs

PYMNTS

B2B Payments Alipay Ant Financial B2B Banks china data digitization Invoices Loan Application loans Mobile Payments News SMB SMB finance SMB lending Supply Chain What's Hot

New York Ramps Up Fight Against Predatory SMB Lending

PYMNTS

Merchant cash advances are not defined as loans under current law, reports explained, meaning MCA companies are not required to adhere to certain rules for the lending industry that are aimed to curb predatory practices, like excessive fees and interest rates.

One Credit Union’s Approach to Excellence in Auto Lending

CU Direct

Auto lending is the backbone of credit unions’ loan portfolios. Credit unions continue to not only compete in the auto lending arena, but to outperform much of the marketplace, improving their market presence, and capturing more loans.

For UWCU, Excellence in Indirect Lending Resulted in Significant Growth

CU Direct

Indirect lending provides credit unions with the unique ability to offer a convenient method of financing to members, while also having the opportunity to grow their member base.

China Institutes New Policy To Boost Small Firm Lending

PYMNTS

19) announced a new policy tool aimed at boosting lending to small and private companies. The central bank noted that big commercial banks, joint stock banks and city commercial banks that show support for the economy and meet macro-prudential requirements can apply for the lending facility.

Could Regulatory Clarity on Alternative Lending Hurt Bank-Fintech Partnerships?

Bank Innovation

Fintech lending is on the rise but under the microscope, too. Exclusive Innovations Lending Premium Risk Startups alternative lenders bank partnerships fintech partnerships fintech regulation regulatorsA report from the U.S.

Lending Club’s Terrible Twos

PYMNTS

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.

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.