In their latest edition of Confessions, TearSheet talks to an analyst at a startup attached to a large bank about innovation, trying to get tech talent and why more fintech companies should partner with banks; about half of the talent at the startup came form inside the bank and as the analyst points out it was more because of convenience as hiring from the outside could take months; banks have trouble keeping top talent because the projects are not as interesting as projects at Google or Facebook; other areas discussed include default rates ticking up, marketing practices and expanding product offerings. Source.
Rather than slowing growth in the BNPL sector, regulatory scrutiny will help it grow up by shutting out smaller lenders, boosting the industry’s reputation and integrating it into the credit reporting system.
N26 and Monzo halted or delayed expansion plans here largely because competition for customers was already intense and obtaining a banking license proved difficult.
Sam Bankman-Fried claimed ignorance on many topics while answering questions via video call to the New York Times Dealbook Summit.
The bank is closing 20% of branches and reducing staff in the ones that will remain open; they are the...
Check-out payments startup Bolt has become the lastest fintech unicorn to feel the heat of the tech stocks bonfire, setting out plans to sack a third of its workforce, amounting to 250 staff.
Arbor Commercial Mortgage and its affiliates are private lenders for commercial and multi-family real estate as well as a REIT sponsor; they have launched the ArborCrowd real estate crowdfunding platform; their marketing emphasizes 30 years of experience in real estate, careful selection of sponsors, and individuals investing alongside institutional capital providers as well as the project sponsors themselves. Source
As communities across the country are hit by the coronavirus some banks are stepping in to help; in Seattle some...
Total loans at banks fell by 1.5 percent during the first half of June, according to data compiled by the...
P2PGI entered into an agreement to sell over $1bn worth of US consumer loans; the sale will reduce the funds net asset value (NAV) by less than 1 percent and effect their leverage & hedging requirement; the move is part of a broader strategy the fund laid out in September. Source.