After pausing new lending in March Kabbage pivoted to focus on the Paycheck Protection Program and in doing so has...
American Express Ventures and the Healthcare of Ontario Pension Plan along with existing investors Kleiner Perkins, Goldman Sachs and Pine...
Amazon has been in the lending business since 2011; after growing quite significantly from 2015 to 2016 they have more...
Samsung has already been working with bank branches for five years; the new retail pop-ups will be rolled out in “sooner than a year”; an example of the pop-ups is a shopping center which usually has ATMs where banks could setup for a weekend to attract new customers; Samsung provides the devices that help bank employees engage with their customers. Source
GreenSky is a point of sale lender which partners with merchants in a variety of verticals; they also work with...
Consumer behavior is changing as most purchases move online and in-store payments are increasingly contactless; many fintechs in the payments...
Able Lending has one of the industry's most unique business models, allowing small business lenders to source loans from their personal network to lower lending costs; Lend Academy interviews Will Davis of Able Lending for more insight on the platform's business; at Able Lending, personal network backers take a subordinated position, allowing the lead lender to get paid back first while offering a lower cost of borrowing overall; the firm has been successful with this lending model, reporting over 80% of loans utilizing backers; it has also seen steady origination growth, with volume growing from $3 million in the first year to $30 million in the second year and an expected $100 million in its third year. Source
Federal Reserve Vice Chairman for Supervision Randal Quarles told an International Monetary Fund forum that he didn’t think ILCs were problematic; applications should be reviewed and granted based on the strength of the application; this is a shift for the Fed as they have said in the past that ILCs were an issue and that Congress should consider cracking down on them. Source.
A new report by economic research firm NDP Analytics sponsored by the Electronic Transactions Association, the Innovative Lending Platform Association...
Issuance in Q4 2018 totaled $2.6 billion, the slowest pace of issuance in 5 quarters; this represented a decrease of...