PYMNTS

OCTOBER 11, 2020

Santander Bank has announced three high-level appointments, two overseeing lending operations and another overseeing marketing, according to a press release. Giancarlo Marchesi was named head of Consumer Lending, a new role at Santander. 2 and is coming from CVS, Santander stated in its news release. Smith holds a B.S.

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PYMNTS

NOVEMBER 24, 2020

In other news, SBI VC Trade , a subsidiary of SBI Holdings, announced today (Nov. 24) that it is launching a lending service that allows users to lend cryptocurrency to SBI and earn 1 percent interest, according to Cointelegraph. To participate, users must lend a minimum of 0.1

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PYMNTS

NOVEMBER 10, 2020

It’s here now and being used to make good banks better — whether to eliminate discrimination in lending decisions, add stability to existing screening systems or drive loan growth and profits. The rest will go toward developing partnerships with governments and regulators “to raise the bar” when it comes to modern, unbiased lending.

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PYMNTS

AUGUST 11, 2020

Federal and state authorities are targeting companies that allegedly lend money to small businesses at extreme rates and seek to collect payments with heavy-handed tactics, NBC News reported Tuesday (Aug. In some cases, NBC News reported, business owners took payments from companies’ bank accounts even after COVID-19 struck.

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PYMNTS

NOVEMBER 16, 2020

In the wake of the 2008 global financial crisis, and banks' subsequent pullback from the small- to medium-sized business ( SMB ) lending arena, a slew of alternative lenders emerged onto the scene to fill the credit gap. What's just as important is to ensure that lending technology is flexible.

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PYMNTS

JUNE 2, 2020

The news comes as Nike patented what are known as “CryptoKicks” footwear, which is tokenized on the Ethereum blockchain as a non-fungible coin. In other news, Poolin, a bitcoin mining pool, is growing its financial services and digital currency lending verticals, CoinDesk reported.

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PYMNTS

MAY 29, 2019

So, it’s within that context that PayPal announced new numbers today (May 29) on the impact of its lending business on the small business sector. In a new PYMNTS interview, Karen Webster spoke with PayPal’s VP and General Manager of SMB Lending Darrell Esch about the story behind that $10 billion mark, and what’s coming next.

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Abrigo

FEBRUARY 12, 2020

Key Takeaways Commercial real estate lending will be a top focus for many financial institutions in 2020. To read news headlines, commercial real estate (CRE) is headed for a terrible 2020. To read news headlines, commercial real estate (CRE) is headed for a terrible 2020. CRE Lending. Lending & Credit Risk.

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PYMNTS

MARCH 26, 2019

In 2015, news outlets ran articles about the “ gold mine ” of venture capital investments in the alternative finance sector. But there is evidence that investors’ appetite for alternative lending startups is on the wane, even as overall FinTech funding continues to climb — and as the success of the alternative lending market grows, too.

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PYMNTS

APRIL 8, 2020

As the nation’s traditional financial institutions struggle to cope, alternative lending platforms and other B2B FinTechs are exploring how to put their own technologies to good use. With a focus on compliance, Wolters Kluwer revealed its new solution to enable financial institutions issue PPP loans to small businesses.

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PYMNTS

NOVEMBER 30, 2020

Velo Labs, Visa and Lightnet Group will work together on payment offerings targeted at serving the micro, small and medium enterprise (MSME) lending market in Asia, the announcement stated. The news comes after the firm that built out the Velo Protocol, Lightnet, landed $31.2 The International Finance Corporation forecasts that $5.2

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PYMNTS

APRIL 10, 2020

Federal Reserve said that it had launched a multi-trillion dollar lending program that targets smaller businesses, and in a broadened salvo, targets local governments, too. economy, that “we want to avoid a false start” tied to a partial reopening and a new spike in coronavirus cases. The Fed program is focused on lending.

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PYMNTS

JANUARY 11, 2021

Ant Group , Tencent and JD.com are facing a crackdown by Beijing over concerns of over-lending to consumers through their platforms, a major cash cow for the Chinese tech giants. Both Tencent and Ant declined to comment to Reuters on the story, while JD.com and the PBOC “did not immediately respond to requests for comment.”.

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PYMNTS

APRIL 14, 2020

To roll out a completely managed small business lending offering that digitizes the end-to-end loan life cycle, application development technology firm Unqork has teamed with Deloitte. Ramadi continued, “This lending service addresses these inefficiencies by quickly getting small businesses the economic relief they need.”.

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PYMNTS

JANUARY 6, 2021

With no credit scores, limited financial transaction histories, and a huge amount of people who don’t even have a bank account, lending money in Vietnam is no simple task. While most financiers would run from an environment like that, CEO Toms Niparts of Jeff , an app-based lending platform based in Latvia, saw it as a huge opportunity. “We

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PYMNTS

JULY 24, 2020

The central bank of Kenya is putting forward new legislation to govern interest rates charged for digital lenders’ loans. Online lenders will need the green light from the central bank to roll out new offerings or hike lending rates if the legislation is put into law, Quartz Africa reported.

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PYMNTS

SEPTEMBER 24, 2020

In today’s top news in digital-first banking, Volante Technologies Inc. is collaborating with Goldman Sachs Bank USA on digital transaction banking, while Sezzle has created a partnership with digital financial services company Ally Lending. BNPL Firm Sezzle Allies With Ally Lending To Expand Loan Options.

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Gonzobanker

AUGUST 11, 2020

OnDeck’s fire sale aside, recent deals at nCino, Black Knight and Ellie Mae are a shot in the arm to a market in need of some good news. It was into this world that the much celebrated digital lending fintech OnDeck recently sold to Enova for $90 million, a virtual fire sale at way under 1X OnDeck’s revenue.

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Lending Fintech Analytics UX 158

PYMNTS

AUGUST 7, 2020

Everyone knows the old joke about how easy getting into the lending business is: “Lending money out is very simple — pretty much anyone can do it. The good news for Fundbox as an underwriter of small business loans is that the firm managed to avoid falling into that trap in recent years.

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PYMNTS

MAY 5, 2020

Digital lending marketplace BitX Funding , which matches business owners and non-bank lenders, is aiming to help Amazon third-party (3P) sellers grow. In August 2019, news surfaced that Amazon was on track to invest upwards of $15 billion in new tools to help small and medium-sized businesses achieve growth and success.

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Lending Online Tools Capital 159

BankInovation

NOVEMBER 9, 2021

Cloud banking platform Blend is partnering with document automation company Ocrolus to accelerate the digital mortgage lending process, particularly loan originations.

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Abrigo

MAY 15, 2020

This is welcomed news for community financial institutions. Customer due diligence (CDD) steps that should be taken by the lending institution includes: If the loan is being made to an existing customer and the Customer Identification Program (CIP) information was previously verified, there is no need to re-verify the information.

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Bank Innovation

OCTOBER 28, 2019

LAS VEGAS — Bank of Oklahoma has adopted Blend’s digital lending platform, the fintech announced at the 2019 Auto Finance Summit. Blend’s platform is designed to simplify user experience for the consumer to drive increases in completed online applications and funding rates.

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Abrigo

JULY 2, 2019

Assigning credit risk is tricky with ag lending since both environment and economic factors carry significant weight. The good news, however, is that there are strategies that small ag financial institutions can employ to mitigate the risks associated with ag lending. Pay strategies. Blanket security agreements.

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PYMNTS

OCTOBER 8, 2018

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. reportedly offering the highest savings account interest rate in the country to lure new customers its way. Then in August, the company launched Marcus in the U.K.,

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BankInovation

MARCH 25, 2022

In this Weekly Wrap episode of “The Buzz” podcast, the Bank Automation News team discusses the recent Bank Automation Summit 2022 with recorded excerpts from the panel “Modernizing Commercial Lending Through Automation.” This episode […].

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PYMNTS

DECEMBER 11, 2020

We did more loans in a two-month period than we did in 10 years of SBA lending combined," he said. "We Historically, traditional business lending is based on historical financial performance," he said. This not only helps FIs with their own lending processes, but can also enable small businesses to begin to look into their own futures.

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PYMNTS

JANUARY 28, 2021

Though traditional financial institutions have faced a surge in market pressure to digitize as new FinTech competitors emerge, there are still plenty of areas in which banks hold the upper hand, commercial lending included. A PPP Catastrophe. They don't want to send customers somewhere else for financing.".

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TheGuardian

NOVEMBER 30, 2022

A new report by the Australian Prudential Regulation Authority (Apra) found climate change could make banks more vulnerable to economic downturns as they face up to a threefold increase in lending losses by 2050, but that the system should be able to absorb the impact.

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PYMNTS

SEPTEMBER 3, 2019

The Bank of England released new data late last week warning that business bank lending in the country hit its lowest rate in nearly two years in July. Reports in The Irish News on Saturday (Aug. billion decline in net lending to companies in the month driven by the $2.43 percent growth rate in lending for the month.

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BankInovation

DECEMBER 10, 2021

Now is an especially exciting time for financial services, Vince Passione, CEO of lending platform and online marketplace LendKey, tells Bank Automation News in this episode of "The Buzz” podcast. It's not […].

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PYMNTS

JULY 29, 2019

Proposed regulations would give small businesses in California the nation’s most extensive set of truth-in-lending protections for small business borrowers. . In 2018, California began the journey of establishing lending transparency for small businesses in the state.

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PYMNTS

MARCH 20, 2020

FinTechs continue to push the envelope to see how far open banking frameworks can go in improving the SMB banking experience, and increasingly, SMB lending is shifting to the center of these collaborative efforts. In the U.K., While more financial service providers in the U.S. “The roadmap to regulation has been in place [in the U.K.]

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PYMNTS

JANUARY 5, 2020

India’s state-owned banks are going through changes that could mean an overhaul in business lending, The Economic Times (ET) reported on Friday (Jan. India’s biggest lender, the State Bank of India (SBI) , is now considering a move to a cash-flow-based lending model from the current asset-based model.

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PYMNTS

FEBRUARY 3, 2020

Goldman Sachs and Amazon are in discussions about the possibility of partnering for small and medium-sized (SMB) business lending in the U.S., Goldman would use its latest lending technology to offer SMB loans on Amazon’s lending platform as soon as next month, two sources told FT. Financial Times reported on Monday (Feb.

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PYMNTS

OCTOBER 1, 2020

In today’s top news in digital-first banking, Memo Bank is rolling out an interest-bearing account for companies, while lending marketplace October has notched roughly $303 million in funding. Memo Bank is providing a new offering three months after receiving its complete banking license.

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PYMNTS

APRIL 3, 2020

The People’s Bank of China (PBOC) trimmed the amount of cash some banks must put aside as reserves as a way to encourage lending, as the world’s second-largest economy is set for the slowest growth since the 1970s. This has been the PBOC’s way to fix the lack of credit as businesses struggle to stay afloat during the COVID-19 crisis.

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