Bank Innovation

JUNE 12, 2019

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. People of younger generations […].

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Lending New York Conference Fintech 199

PYMNTS

JULY 12, 2018

New York’s Department of Financial Services is recommending that online lenders are subjected to the same scrutiny and regulations that traditional banks face. Cuomo on June 1, 2017, required DFS to study online lending in New York State and submit a report of its findings. Superintendent Maria T.

Online 100

Online New York Lending Regulation 100

PYMNTS

AUGUST 17, 2020

Personal, unsecured loans issued through online lenders like Best Egg , LendingClub and Upstart have long been seen as particularly vulnerable in a downturn. But new figures from data-crunching firm dvo1 are pointing to some surprising resilience in marketplace loans, a lending category widely considered to be high-risk.

Online 150

Online United States New York Lending 150

Bank Innovation

APRIL 7, 2016

The New York Times covered the subject — and the word — in depth yesterday, in a special section called “Fintech’s Power Grab.” Ok, it’s safe to say fintech has hit the big time. ” The lead item, by Andrew Ross Sorkin of CNBC fame, focuses on the fintech challenge to Read More.

New York 150

New York Fintech social media Operations 150

Bank Innovation

AUGUST 19, 2016

Today it was revealed that banking giant Goldman Sachs will be launching an online retail lending operation called Marcus, after founder Marcus Goldman, as reported by the New York Times, The operation will likely roll out this October, and will start by offering small consumer loans from $15,000 to $20,000.

Lending 150

Lending New York Operations Online 150

Bank Innovation

JANUARY 19, 2017

Ah, New York: If you can make it here, you can make it anywhere, but to even try, you need a license. After waiting a year, the lender SoFi received the thumbs up to operate in New York, CFO Michael Tannenbaum said recently. Luckily, SoFi and Coinbase just got theirs. Read More.

New York 150

New York Operations Bitcoin Lending 150

PYMNTS

AUGUST 15, 2019

Monzo , an online bank out of London, has added loans to its menu of services, the Financial Times reported on Thursday (Aug. can apply for loans as the online bank advances its efforts toward profitability. . Monzo is “more nuanced than we were probably two or three years ago,” CEO Tom Blomfield told the news outlet.

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Lending Los Angeles Digital Banking San Francisco 161

PYMNTS

MAY 25, 2016

As the dust continues to settle from the great Lending Club explosion, the big banks of Wall Street are reportedly inking up their Plan Bs when it comes to exposure to those loans should the market deteriorate more. “This is noise banks want to avoid,” said Allard, who heads FireBreak Capital, a hedge fund that focuses on lending.

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Lending Online Capital New York 100

PYMNTS

SEPTEMBER 14, 2018

To challenge the Office of the Comptroller of the Currency (OCC)’s decision to allow online payment companies and lenders to have national bank charters, the top banking regulator in New York is suing the federal government. Of that total, 8,664 were New York business customers and 226,656 were New York individual customers.

New York 173

New York Fintech Lending Regulation 173

PYMNTS

JUNE 6, 2016

The drama surrounding online lenders — who they lend to, when, how and at what rates — continues. The agency, the New York Department of Financial Services, sent the letter to lenders that included Prosper, Funding Circle, Avant, Upstart and a host of others, according to an unnamed source.

Online 100

Online New York Lending Regulation 100

Abrigo

DECEMBER 18, 2023

Critical capital Should CRE lending be off the table? Recent headlines may lead bankers to believe that shunning commercial real estate lending is the safest path to limit or avoid credit risk, given stresses on CRE and regulatory concerns. But that might not be the best move for your financial institution or your community.

Risk Management 221

Risk Management Management Lending Capital 221

PYMNTS

JANUARY 26, 2021

In today’s top retail news, the U.S. division of L’Occitane has filed for Chapter 11 bankruptcy, while AutoFi is shifting into high gear with the debut of its “lending as a service” division. Plus, a new Federal Reserve Bank of New York study finds that individuals anticipate that the economy will rebound by next year.

Retail 239

Retail US New Jersey New York 239

PYMNTS

JULY 4, 2018

As a consumer lending category with the fastest growth, outstanding balances for personal loans jumped by about 18 percent to $120 billion in the first quarter. A lot of credit goes to the FinTech lenders for reinvigorating a loan category that’s been around forever,” Jason Laky, TransUnion ’s consumer-lending business lead, told Bloomberg.

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Lending New York Fintech Cards 110

PYMNTS

JANUARY 29, 2020

Borrower protection initiatives have taken aim at predatory lenders, both online and brick-and-mortar, with legislators at the state and federal levels addressing concerns that include a lack of transparency and sky-high fees and interest rates. small businesses had sought a loan online, compared to just 19 percent that did so in 2017.

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Lending New York Online New Jersey 136

PYMNTS

MAY 20, 2016

In the latest chapter of the Lending Club drama, on Thursday (May 19), it came to light that New York’s highest-ranking financial regulator has launched an official inquiry into the online alternative lender. The requested New York information dates back to 2013.

Lending 100

Lending Regulation New York Course 100

PYMNTS

APRIL 13, 2018

Small business lending platform Kabbage is making plans to acquire Orchard Platform Markets, a provider of lending data and services. Founded in 2013, New York-based Orchard initially provided Wall Street firms with data on the marketplace lending sector. Both companies declined to comment. billion.

Lending 108

Lending Data Marketing New York 108

PYMNTS

SEPTEMBER 30, 2020

The FinTech Capify has pulled in an additional $10 million in an equity round of funding and is banking on continued support from the Goldman Sachs Merchant Banking Division for its lending platform, which is geared to small to medium-sized businesses (SMBs). Capify is an online alternative lender that serves SMBs in the U.K.

Fintech 210

Fintech New York Capital Lending 210

Jack Henry

JULY 26, 2019

Each year, the New York Federal Reserve releases a valuable survey that sheds light on the mindset of business owners and their borrowing preferences. Here are the key takeaways from the 2019 survey.

Online 60

Online New York Survey Lending 60

PYMNTS

APRIL 26, 2017

Online lending as a business model has taken some lumps over the last several months, with Lending Club (and investors) only the most visible casualty of alleged fraud. As for questions surrounding the viability of these online lending platforms, as posited by Webster, Moore said the model exists as one that is here to stay.

Lending 101

Lending New York City Online Fraud 101

Bank Innovation

SEPTEMBER 12, 2017

Mike Cagney, the chief executive officer of online lender Social Finance, better known as SoFi, will be leaving his role at the end of this year. Cagney’s departure, as reported yesterday by The New York Times, follows several lawsuits for sexual harassment and wrongful termination filed against the lending startup in 2017.

New York 150

New York Lending Online Report 150

Bank Innovation

NOVEMBER 3, 2017

EXCLUSIVE- After just over a year in operation, what’s next for Marcus, the consumer lending platform operated by incumbent bank Goldman Sachs? During the Digital Lending and Investing Conference currently taking place in New York today, Omer Ismail, chief commercial officer of Marcus from Goldman Sachs, highlighted a few areas.

New York 218

New York Lending Conference Operations 218

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. Kassul noted his firm used to invest in ABS from the lending marketplaces but, eventually, there just wasn’t enough profit in it. The Coming Risk Assessment Reset.

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Lending Security Philadelphia Dallas 116

PYMNTS

APRIL 10, 2020

cities, the New York airline has joined Goldman Sachs to offer an installment loan product. Marcus , the online-only consumer banking and lending arm of Goldman Sachs, offers personal loans with no late fees of up to $10,000, with rates ranging from 10.99 percent at terms from 12 to 18 months, according to its website.

Los Angeles 212

Los Angeles San Francisco New York City New York 212

Bank Innovation

MARCH 16, 2016

Millennials hate credit — but a new service called Lenny is out to change that. It will reach Texas, Florida and New York in the next 10 to 12 months, according to the company, which claims that, in less than three Read More. Lenny is meant for mobile (of course) and launched today in California.

Millennials 150

Millennials Mobile Florida Lending 150

PYMNTS

JULY 24, 2019

New York’s Department of Financial Services (DFS) has launched a new Research and Innovation Division that will be responsible for licensing and supervising virtual currencies. None of the information on the database, which held 86 million lines of daily updating records of the lending platform, was encrypted.

Regulation 108

Regulation Bitcoin New York Online 108

Bank Innovation

MAY 1, 2017

As only the second Chinese online lender to go public in the U.S. first was Yirendai in 2015), China Rapid Finance is confident its new listing on the New York Stock Exchange will lead to growth.

New York 253

New York Online Company Lending 253

CFPB Monitor

OCTOBER 11, 2018

At the Online Lending Policy Institute’s (OLPI) annual summit in Washington, D.C. earlier this week, the OCC’s recent decision to accept applications from non-depository financial technology firms for a special purpose national bank (SPNB) charter was the focus of considerable discussion. In her remarks and responses to questions, Ms.

Policies 60

Policies Lending Data Online 60

Bank Innovation

SEPTEMBER 26, 2018

If Finovate Spring was dominated by companies in lending and underwriting, then Finovate Fall was all about startups and service providers equipping banks with tools to help them provide better customer service.

New York 150

New York Analytics Lending Tools 150

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

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Lending FDIC Minneapolis Utah 130

PYMNTS

JANUARY 24, 2017

Except that they can’t, because it’s not like they can buy a car online easily or reliably. the lending arm of Ford Motors — announced yesterday (Jan 23) that going forward it will use AutoFi Inc. software to let car buyers shop for a Ford or Lincoln car and secure a loan online through its dealers’ websites.

Online 100

Online Lending New York Taxes 100

Bank Innovation

FEBRUARY 13, 2018

EXCLUSIVE—Online lender OnDeck grew originations and expects even more growth this year, according to its earnings call today. The New York-based OnDeck expects “originations to grow at double-digit rates” over the next year, company CEO Noah Breslow said during the call this morning.

New York 207

New York Online Company Lending 207

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

Bank Innovation

SEPTEMBER 6, 2019

As banks increasingly take transactions to digital channels, the process to acquire customers also is shifting online thanks to technology that matches product offers to customers based on data. This week, the New York-based company confirmed a $25 […].

New York 170

New York Online Data Technology 170

PYMNTS

JULY 20, 2017

Keith Noreika, the temporary head of the Office of Comptroller since May, is defending an idea that first came up under his predecessor Tom Curry: offering online lenders and FinTech startups banking charters. Noreika notes that the initiative will be good for making the United States’ banking system more flexible and responsive.

Online 100

Online Regulation United States National 100

PYMNTS

SEPTEMBER 17, 2020

the San Francisco-based peer-to peer lending firm and OnDeck Capital, the New York-based online small business lending company, which went public at the time were already trading down, Housing Wire reported.

San Francisco 160

San Francisco New York Lending California 160

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

Bank Innovation

SEPTEMBER 11, 2017

New-York based bank Goldman Sachs is planning to launch an online deposit service in the United Kingdom by mid-2018, a retail service that will be provided under the bank’s year-old ‘Marcus’ brand.

Branding 207

Branding Retail New York Strategy 207