Forbes partnered with market research firm Statista to measure the best banks in more than 20 countries by surveying more...
BFS Capital Inc., a leading small business financing company, announced that it has appointed Michael Marrache as chief executive officer to succeed outgoing CEO and co-founder Marc Glazer; Michael has been with the company for four years and previously served as COO then President; "I began work with BFS Capital nearly four years ago because I thought the company had enormous potential, and I'm even more certain of this today. I'm honored to have been asked by Marc and the board to lead the company's next phase of growth," said the new CEO; Marc Glazer will continue in his role as chairman of the board. Source
Patch Homes has officially launched after operating in private beta; the platform seeks to allow homeowners to greater utilize the equity in their homes; by offering investment versus a home equity loan, homeowners contract with Patch Homes for capital proceeds that can be used for any type of financing needs; Patch Homes then shares in the gains and losses on the home's value over the contracted timeframe; Patch Homes has identified a $4.5 trillion home equity market in the US; along with its launch it also announced $1 million in fundraising to support its growth and to expand its offering beyond California. Source
SBI Group, owner of SoftBank is investing into the mobile-first bank; SBI Group will also get a seat on Moven's board and the companies plan to form a joint venture in Japan; Moven is also splitting its business in two; one side is the software provider that powers digital banking software and the other is the neobank, MovenBank; Moven also announced that it is in the process of purchasing a US bank. Source
For the second time in the last few months OakNorth CEO Rishi Khosla said he was open to making an...
There is sure to be a growing consumer debt issue when the government assistance finally ends and banks are starting...
The Federal Reserve has finally opened up the Main Street Lending Program for registration; this is the program targeted towards...
Online lenders FIP, LLC and Future Income Payments, LLC are being sued by the State of Minnesota; the two lenders target seniors and veterans with pension advance loan products and charge exorbitant interest rates of approximately 200%; the interest rates significantly exceed Minnesota's usury cap of 8%; the court filings argue that the lenders are unregistered and unlicensed to offer loans in Minnesota. Source
Big banks like Citi and JPMorgan Chase are trying to beat fintechs at their own game with launches of new...
The LendIt Content Team discusses LendIt Fintech USA 2018 in San Francisco on April 9-11. Source