PYMNTS

JUNE 12, 2018

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. They all had a pretty tough time and took losses a lot more than expected,” said Henry Song, a portfolio manager at Diamond Hill Capital Management Inc.

Lending 116

Lending Security Philadelphia Dallas 116

CFPB Monitor

OCTOBER 11, 2018

At the Online Lending Policy Institute’s (OLPI) annual summit in Washington, D.C. Gardineer raised concerns about the application of bespoke capital, liquidity, and risk management requirements for SPNB charter applicants. For an analysis of the DFS lawsuit, click here.). In her remarks and responses to questions, Ms.

Policies 60

Policies Lending Data Online 60

PYMNTS

JULY 14, 2020

In addition to its core POS lending business, Affirm branched out into financial services in June, debuting a high-yield savings account called Affirm Savings. In May, the New York-based FinTech cut a deal with payments platform Stripe , giving consumers more credit to access at checkout. The account comes with 1.30

Lending 130

Lending FDIC Minneapolis Utah 130

PYMNTS

JUNE 8, 2016

Well, one can say this much for Lending Club : For whatever difficulties it seems to have keeping paperwork straight and investors on its platform at present, it sure knows how to keep things interesting in payments and commerce. Going into the news today, the struggling online lending platform doesn’t bring just one story to the cycle.

Lending 100

Lending Meeting New York Online 100

PYMNTS

JUNE 10, 2020

Our team exists to fuel seller growth, period,” Ragui Selwanes, head of Amazon Lending, said in a statement. The collaboration is a coup for Goldman Sachs because it gives it access to thousands of Amazon merchants as the New York-based financial services group fuels its push into Main Street finance. percent to 20.99

New York 179

New York Lending Maine US 179

PYMNTS

APRIL 22, 2019

Might banks be making inroads into the hearts and minds of smaller firms as they seek out capital – as some SMBs cite at least some dissatisfaction with non-banking lending conduits? Drilling down a bit further, about one third sought financing from online lenders in 2018, up from 24 percent in 2017.

Study 122

Study Lending Online Survey 122

PYMNTS

JANUARY 21, 2021

In terms of customers going online to bank, BofA added that digital sales accounted for 45 percent of all consumer banking sales for the quarter. In the home lending segment, the company saw two-thirds of applications done digitally. million during the quarter. Active digital banking users likewise grew 3 percent to 39.3

Mobile 252

Mobile Report Trends Digital Banking 252

PYMNTS

OCTOBER 31, 2016

SoFi, the online lender, is moving ahead with plans to roll out a life insurance product, reportedly acquiring licenses and inking a deal with Protective Life Insurance. It now is in mortgages, personal loans, wealth management and, starting soon, insurance. As a result, it is inactive in New York.

South Dakota 100

South Dakota New York Arkansas Massachusetts 100

PYMNTS

SEPTEMBER 19, 2017

Online lender and tech startup Social Finance (SoFi) made recent news when its chief executive officer, Mike Cagney, stepped down following a lawsuit regarding claims of sexual harassment. 350,000 | Number of borrowers who have used SoFi’s lending services, totaling more than $20 billion in loans.

Data 100

Data New York Capital Lending 100

PYMNTS

MARCH 31, 2020

COVID-19 is spurring firms that rely on consumer spending, and on lending to finance big-ticket purchases, to invent new ways to keep business flowing – with a nod to the fact that the uncertain economic impact of the virus may hurt consumers’ near-term ability to pay for those items. Necessity, as they say, is the mother of invention.

Houston 141

Houston Lending New York Examples 141

PYMNTS

DECEMBER 13, 2019

At the same time, the New York Stock Exchange has submitted a proposal for a direct listing-style alternative to the IPO , while FinTech Uncapped recently spoke with PYMNTS about connecting small businesses to capital via revenue-based financing, described as a tool that sits somewhere between venture capital and a traditional bank loan.

New York 130

New York Capital Fintech Leadership 130

CFPB Monitor

JUNE 15, 2022

Specifically, SB 1235 defines a “provider” to include “a nondepository institution, which enters into a written agreement with a depository institution to arrange for the extension of commercial financing by the depository institution to a recipient via an online lending platform administered by the nondepository institution.”.

California 78

California Regulation CA Utah 78

PYMNTS

DECEMBER 7, 2020

In only the latest salvo, online payments firm Paysafe announced plans on Sunday (Dec. Paysafe plans to go public on the New York Stock Exchange with a $9 billion listing. In other words, it’s a new week, and we already have a new SPAC announcement centered on a payments firm — something we’ve often seen happen through the fall.

Online 161

Online Marketing New York Report 161

PYMNTS

JANUARY 22, 2020

Sabre Vice President of Product Management Becky French discussed this strategy with PYMNTS in a recent Masterclass video , noting that this collaboration has already yielded stronger cash flow and financial management practices for joint clients. NatWest Bolsters SMB Loans With Cards. SmartEquip Adds Commercial Card Support.

Cards 131

Cards New York Lending Strategy 131

CB Insights

FEBRUARY 13, 2020

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Specifically, the Collisons aimed to more seamlessly connect online businesses and payment processors, allowing more businesses to accept online payments.

Online 98

Online Company Retail Payments 98

PYMNTS

AUGUST 18, 2017

Chinese regulators say they have made progress in efforts to curb the nation’s shadow banking sector, according to reports in the New York Times o n Friday (Aug. Earlier this year the CBRC increased its focus on off-balance sheet wealth management products, which reports said were a major part of the overall shadow banking market.

Regulation 100

Regulation Policies New York Lending 100

South State Correspondent

JANUARY 4, 2023

Popular projects for 2023 include online loan and deposit onboarding utilizing third-party data to speed the process, compliance-as-a-service, payments, card controls, service case management, leveraging data for customer insights, and providing open banking APIs to customers. Now is that period. Develop a more innovative process.

Community Bank 195

Community Bank Capital Training Lending 195

PYMNTS

JULY 17, 2018

In one case at the state level (and it’s New York, so movement there carries much weight within the financial arena), Bloomberg reported that NY’s financial regulator is challenging what the newswire terms a “fundamental principle” on bank and FinTech relationships that brings interest rate caps into that regulator’s crosshairs.

Fintech 100

Fintech Regulation New York Management 100

CFPB Monitor

APRIL 14, 2021

General asset-based lending transaction disclosure formatting. Example transactions for asset-based lending and factoring. Like California, New York has also enacted a law (S 5470–B) that requires consumer-like disclosures for “commercial financing” transactions. Sales-based financing disclosure formatting.

CA 78

CA Regulation California New York 78

PYMNTS

FEBRUARY 7, 2020

According to reports out earlier this week, Goldman Sachs and Amazon are in discussions about possibly partnering for small and medium-sized (SMB) business lending in the U.S. The partnership would apply Goldman’s lending technology to SMB loans on Amazon’s underwriting platform, according to unnamed sources.

Austin 131

Austin Lending Omaha New York City 131

CFPB Monitor

APRIL 11, 2016

The New York City session was held on April 4-5, 2016 (with live webcasts and groupcasts in Cincinnati, Cleveland, Philadelphia, Pittsburgh, Mechanicsburg, PA).). Paul Mondor, Managing Counsel, Office of Regulations. The Chicago session will take place on May 12-13, 2016. (The Twohig, Assistant Director for Supervision Policy.

Chicago 60

Chicago New York City Cleveland New York 60

PYMNTS

JULY 27, 2020

are seeking payment methods that can help them flexibly manage necessary expenses, and the BNPL industry is poised for growth in other markets as well. The following Deep Dive examines how providers are expanding services and solutions to serve consumers purchasing in stores and online during the pandemic. Consumers in the U.S.

Retail 146

Retail Google Apple New York 146

PYMNTS

JUNE 28, 2019

Corporate travel and expense (T&E) management solutions provider TripActions led this week’s B2B venture capital roundup with its announcement of new funding that propelled its valuation to $4 billion. Small business lending startup Lulalend is driving alternative finance growth in South Africa, and just announced $6.5

Capital 108

Capital Analytics San Francisco Lending 108

PYMNTS

MAY 26, 2017

If we try to pursue business innovation within the bank, we have to ask around for permission from people in risk management, compliance and others. The transaction will enable parties to exchange documents online instead of getting hard copies. It takes forever,” said the executive.

Fintech 100

Fintech blockchain New York Risk Management 100

Independent Banker

DECEMBER 31, 2021

That’s followed by residential mortgage lending (36.3%), small business lending (32.1%), commercial and industrial (C&I) lending (30%) and agricultural lending (23.6%). will continue its mission to fund microloans to new small businesses in New York City’s low-income neighborhoods, says president and CEO Carlos P.

Community Bank 144

Community Bank Community Lending Louisiana 144

Independent Banker

DECEMBER 29, 2015

ICBA warns of risks of online marketplace lending models. Online marketplace lenders are a new form of nonbank specialty lending that uses technology platforms to allow Wall Street and individual investors to directly fund loans to consumers and small businesses. Typical Practices of Online Lenders.

San Francisco 70

San Francisco Lending New York City Online 70

PYMNTS

MAY 27, 2016

Some focus on specific verticals, like restaurants; Some take unique routes to enterprise security, from password management to email protection. SME Lending. Expense Management. Expensya provides expense management and accounting solutions for corporates to manage their online, mobile and cloud-based data.

Capital 100

Capital Management Taxes Security 100

Fintech Labs Insights

MAY 16, 2017

Less than a month after announcing its new $105 million SoFi Prime Income Fund to help raise funds to issue loans, online lending innovator SoFi is making headlines again with the launch of SoFi Wealth. The new initiative, the company’s first digital wealth management offering, will allow investors in the U.S.

Management 19

Management San Francisco New York UX 19

PYMNTS

AUGUST 28, 2017

As the Sinatra tune goes (a bit paraphrased) … New York: If you can make it there in cybersecurity, you can make it anywhere. The financial services industry is girding for the new regulations by the New York State Department of Financial Services (DFS), which take effect as of Aug. 28, which is, of course, today.

New York 142

New York Regulation Bitcoin United States 142

PYMNTS

JULY 15, 2016

Lending Club Algorithms . It is truly not our intention to call out Lending Club week after week in this column as a fizzle. But as someone said just the other day about Lending Club, just when you think there are no more shoes to drop, more shoes drop – and that there will always be more shoes. Really, since when?).

Retail 100

Retail FDIC Bitcoin Lending 100

Fintech Labs Insights

OCTOBER 22, 2015

Online SME lender OnDeck has announced a significant expansion of its product line for small businesses. ” Pictured (left to right): Miranda Lanzillotti, Marketing Communications Manager, and Pamela Rice, Senior Vice President of Technology, for OnDeck, discussing lending APIs at FinDEVr 2014.

Lending 12

Lending San Francisco New York City New York 12

Fintech Labs Insights

MARCH 14, 2017

See Barclaycard next week at FinDEVr New York. Revolut teams up with Lending Works to deliver lower-cost loans. Geezeo powers new financial wellness solution from Jack Henry & Associates , JHA Online Financial Manager. Barclaycard adds free Uber ride as reward for loyal cardholders.

New York 16

New York Lending Online Management 16

Independent Banker

SEPTEMBER 25, 2014

Saving money by conducting inside risk management and compliance reviews. As a group, community banks spend substantial funds hiring outside consultants to help with various management functions, and a substantial share of dollars are spent to help oversee their risk management and compliance activities. By Vanessa Drucker.

Community Bank 70

Community Bank Compliance Risk Management Community 70

PYMNTS

OCTOBER 26, 2018

And, as an added bonus, employees thus far have also reported enjoying using the smartwatches, noting that they add a “James Bond” feeling to their jobs, according to Pablo Sanchez, HSBC North America senior executive VP and head of retail banking and wealth management. and globally, though an official timeline has not been set.

Samsung 134

Samsung Apple Study Report 134

CB Insights

OCTOBER 10, 2017

In the past year, several new funds have also entered the arena specifically targeting the region. For example, New York-based private equity investor Warburg Pincus announced plans to focus on the region in Q4’16 , particularly Indonesia and Vietnam. Its investments so far include a $1.5M hubert burda. 500 STARTUPS.

Regional 73

Regional Capital New York Management 73

CB Insights

DECEMBER 4, 2019

We will be updating this brief on an ongoing basis as more relevant data, investments, news, and products are released. Amazon is notorious for spreading its bets before going all-in on a new product, and the financial services space is no exception. Table of Contents: Amazon’s product strategy. Amazon’s Next Financial Pillar.

Cards 101

Cards Lending Strategy US 101

FICO

FEBRUARY 10, 2017

For all the differences between traditional banks and new online lenders, there is one business challenge that unites both groups: acquiring new customers. While online lenders experiment with offline marketing tactics, banks are aggressively ramping up their online marketing efforts, with total digital ad spend by U.S.

Online 40

Online Tools New York City Analytics 40