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.

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.

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.

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

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.

Grab Financial Gets In SME Lending, Insurance

PYMNTS

Grab Financial Group , the Southeast Asia FinTech company, announced Tuesday (March 19) the rollout of SME lending and micro-insurance for drivers in Singapore as part of its “Grow with Grab” roadmap.

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.

SoLo Adds Mastercard Integration To P2P Lending Platform

PYMNTS

SoLo Funds announced it has added a Mastercard integration so users can link their debit accounts to the peer-to-peer (P2P) lending platform. Loans debit financial services Integration MasterCard News P2P peer-to-peer lending Small Loans SOLO FUNDS What's Hot

JPMC CFO To Run Consumer Lending Business

PYMNTS

In addition, outgoing CFO Marianne Lake has been named the CEO of the company’s consumer lending business. Personnel banking CEO CFO consumer lending Jennifer Piepszak jpmorgan Marianne Lake News personnel What's Hot

FinTech Pressures FI Giants To Strengthen SMB Lending In Mexico

PYMNTS

Bank credit most often goes to larger corporations or to consumers for home lending. The current market climate has opened doors for supplier financing companies, according to Banxico, Mexico’s central bank, and for alternative lending platforms to rush into the market.

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.

Lenderfit Launches SMB Lending Tech In Beta

PYMNTS

Small business lending technology company Lenderfit has rolled out its services in beta, connecting financial institutions to solutions to facilitate small business lending. He told the publication that Lenderfit began as a way to address the small business lending challenges of nonprofit investment firm Access Ventures. B2B Payments B2B Lenderfit News Small business lending SMB What's Hot In B2B

Nonbank Lending Hits $52T, With US Assets At $15T

PYMNTS

Nonbank lending – also known as “ shadow banking ” – has seen its assets hit $52 trillion, despite the fact that the sector poses significant risks. International china News Nonbank lending shadow banking shadow lending What's Hot

SEC Probe Prompts Direct Lending CEO To Step Down

PYMNTS

Direct Lending Investments ’ founder and CEO Brendan Ross has resigned while his company is the focus of an investigation by the Securities and Exchange Commission (SEC). As a result, Direct Lending suspended withdrawals at that time.

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.

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.

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.

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.

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.

Stay On CFPB Payday Lending Rule Upheld

PYMNTS

A federal judge late last week ordered a stay on the August 2019 compliance date tied to the “ payday lending rule ” mandated roughly two years ago by the Consumer Financial Protection Bureau (CFPB). Regulation CFPB News PayDay lending payday loans regulations rules

US Government Policy On SMB Lending In Flux

PYMNTS

Her rise to the position of SBA chief is not expected to disrupt the status quo, but she would step into the seat at a time of broader controversy at the SBA, surrounding its 7(a) small business lending program. President Donald Trump announced over the weekend that U.S.

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.

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?

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

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

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

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 .

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.

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 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

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.

Amount, a Fintech Startup, Signs Deal to Help TD Bank in Digital Personal Lending

Bank Innovation

Lending Premium Retail Security & Risk Startups AI Amount artificial intelligence digital lending machine learning mobile lending td bank

Equifax Extends SBFE Partnership For Small Business Lending Data

PYMNTS

Their deal sees Equifax providing SBFE members and other authorized customers with access to SBFE small business lending data as a certified vendor, supplementing Equifax’s data provided through its Commercial Finance Network.

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.

ZestFinance Launches AI-powered Tool to Reduce Bias in Lending Models

Bank Innovation

Alternative underwriting software provider ZestFinance today launched an AI-based tool it claims will dramatically reduce bias in lending.

Tools 164

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.”.

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Auto Lending Fraud Trends in 2019

CU Direct

This is certainly the case when it comes to auto lending fraud. Read more » The post Auto Lending Fraud Trends in 2019 appeared first on CU Direct Blog. Community Drive Conference ID Theft/Data Breach auto lending fraud fraud trends lenders

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How PSD2 Is Changing Lending In The UK

PYMNTS

Regulation Bank consumer data consumer trust data privacy data security EU GDPR Lending loans News PSD2 PSD2 TRACKER regulation transparency Whitepages Pro Zopa

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.

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.

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.