Alternative loans: industry forecasts for 2021
Alternative loans
We hear from industry leaders in alternative lending about what we can expect over the next 12 months as the pandemic continues to bite.
Image source: Photo by Anna Shvets from PexelsThe global pandemic has brought…
Struggling online lender OnDeck sold to Enova International
OnDeck, the once high-flying online lender, is being sold to Enova in what amounts to a fire sale.
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OnDeck, the once high-flying online lender that has fallen on hard times made worse by the COVID-19…
Google removes some lending apps in India to protect consumers
MUMBAI (Reuters) - Alphabet Inc's Google has removed some lending apps aimed at Indian consumers from the Play Store in a bid to protect users, it said in a blog post on Thursday.FILE PHOTO: The logo of Google is seen on a building in the…
Chinese regulator issues online banking lending rules to reduce risk
FILE PHOTO: A man rides an electric bicycle in front of the China Banking and Insurance Regulatory Commission (CBIRC) building in Beijing, China February 14, 2019. REUTERS/StringerBEIJING (Reuters) - China's banking and insurance regulator…
Brazilian BizCapital raises $12 million for its online lending service – TechCrunch
BizCapital, a Brazil-based online lender, has raised $12m from a group of investors including German development finance institution, MercadoLibre's corporate venture capital fund and existing investors Quona Capital, Monashees, Chromo…
China tightens review of consumer loans
Ant Group, Tencent and JD.com are facing a crackdown from Beijing over fears of excessive consumer lending through their platforms, a major cash cow for the Chinese tech giants.
The three companies, along with others, will now have to share…
Moxian ends proposed merger with Btab Group, Inc.
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Hong Kong, March 03, 2021 (GLOBE NEWSWIRE) -- Moxian, Inc. (“Moxian” or the “Company”) (MOXC), a provider of…
Online Compliance Issues Facing Tribal Businesses Today
Details
By IntegriShield
February 19, 2021…
TrueLayer and Wombat Partnership Offers Payment APIs
TrueLayer, the London-based tech startup that builds financial apps for banking and payment solutions, has partnered with Wombat to provide payment APIs on investment accounts. The SaaS platform uses a toolkit to create specialized…
Peak Rock Capital Partners with FinTech Platform NepFin to Provide Capital to Middle Market and…
AUSTIN, TX and SAN FRANCISCO, February 24, 2021 /PRNewswire/ -- A subsidiary of Peak Rock Capital LLC ("Peak Rock"), a leading middle-market private investment firm, today announced that it has partnered with Neptune Financial (" NepFin”)…
How factory workers are turning the tables on China’s big online lenders
“My Sesame credit rating hasn't changed in three months,” Jiwei lamented, his voice betraying both bewilderment and frustration.Jiwei — to protect the identity of my research…
How the GameStop frenzy sabotaged an attempt to ‘democratize’ finance – POLITICO
“Fintech is basically if Wall Street and Silicon Valley had a child,” said Jeff Hauser, director of the Revolving Door Project, a progressive advocacy group. "Over time, if they get too strong in these unregulated areas, they will take…
What Fintech must do to make a dent in the universe
The fintech industry has come a long way in a short time. Although fintech has been around for decades, I think we can all agree that over the past few years it has really come of age. And since the coinage of…
10 business trends that will define the startup ecosystem in 2019
2018 has been a roller coaster of change and development in key industries such as technology, finance, healthcare, retail and enterprise. For this year, here are the 10 business trends that will be followed. Marketing and business1.…
LendingClub does not verify revenue data (NYSE: LC) for 66% of transactions
One would assume that an online lender like LendingClub Corp (NYSE: LC) verifies borrower income in 100% of transactions. But that's not even close to the case, according to Bloomberg's report.
LendingClub verified income about…
How P-to-P loans evolved into different animals in the US and UK
The United States has the dollar, while Great Britain has the pound. We have a president, and they have a queen.Now add one more item to the list of differences between the two closely linked nations: the US has loans in the market, a…
Startup that promised engaged couples money breaks hearts with abrupt pivot
Opinions expressed by Contractor the contributors are theirs.
After six years together, Matt Milsap popped the big question to girlfriend Amanda Cambra on Sept. 21 at their home in Bethel, Connecticut.…
New Digital Identity Study Shows Changing Consumer Behaviors
Today, according to the Pew Research Center, more than 50 million American adults are mobile-only consumers. This shift has fundamentally changed consumer preferences and led to new consumer behaviors that…
Why China won’t abandon its controversial trade policy – The Diplomat
AdvertisingOver the weekend, the United States and China declared a ceasefire in their escalating trade dispute. Both parties have agreed to suspend tariffs while negotiations continue. Although China has made vague promises to reduce its…
3 reasons why fintech fails
When it comes to Fintech, it seems like the flower is finally breaking away from the rose. Once the hottest industry, fintech has seen its fair share of failures and struggles lately.
Everyone from online lenders to banking…
House Democrats target CFPB politicians, more Mulvaney changes in new bill
WASHINGTON — A day before Consumer Financial Protection Bureau Director Kathy Kraninger will testify before the House Financial Services Committee, House Democrats introduced legislation to reverse efforts to weaken the agency by his…
6 takeaways from the CFPB chief’s visit to Capitol Hill
WASHINGTON — During her appearance before the House Financial Services Committee on Thursday, Consumer Financial Protection Bureau Director Kathy Kraninger gave the panel's Democratic majority little assurance that she would reverse the…
Corporate America seeks to penalize Trump and Republicans – for now
In his final days in office, the biggest names in American business are dumping President Donald Trump on charges he instigated last week's deadly mob attack on the US Capitol.Twitter kicked the president out of the platform he relied on to…
Banks could be ripe targets for age-based lawsuits
A recent age discrimination lawsuit against a regional bank holds lessons for bankers and trustees who may face tricky questions about succession planning.In a lawsuit filed last month in the Hamilton County Court of Pleas in Ohio, a former…
7 online scams you need to be aware of this Christmas
Photo credit: Kerkez - Getty ImagesCybercriminals have been quick to exploit the increase in online shopping in the wake of the pandemic and lockdowns, and unfortunately, now that Christmas is approaching, scams are on the rise.The main…
Banking fallout: RBI warns states against abandoning private banks
Following the Yes Bank crisis, the Reserve Bank of India (RBI) stepped in to restore confidence in private banks. After its action against Yes Bank, the central bank noticed that some state governments had advised their bodies to transfer…
RateSetter secures business lending license
Has the Lending Club debacle taught the alternative lending industry anything? Perhaps, but the lesson is not that players should abandon the market.
The market's lending space continued to expand, even after the fallout from the Lending…
More Fintech regulation on the horizon in China – The Diplomat
Pacific silver | Economy | East Asia
The Chinese government continues to add oversight and structure to this rapidly growing industry.…
Austin Capital Bank partners with consumer lending platform
Austin Capital Bank, a Texas-based institution with $71.4 million in assets, will lend to a new online consumer lending platform called Self Lender, the two companies announced.Denver-based Self Lender markets loans it says will strengthen…
Kabbage sees more mobile lending, women- and minority-owned businesses seeking funds
Online lending platform Kabbage says it is seeing more mobile lending, more women and minority-owned businesses seeking loans, and more businesses from rural and low-to-middle income communities as well.Small Business Trends reached out to…
Chinese companies in the financial sector revamp their plans and financing
As regulators crack down in China, FinTech executives are scrambling for capital and trying to plan for their future, Bloomberg reported Wednesday (November 25).
Jack Ma's Ant Group, once poised to be the future of finance in the country,…
CFPB, OCC on collision course over who regulates fintechs
As the Office of the Comptroller of the Currency continues to focus on granting bank charters to fintech firms, some pundits have disrupted the debate over non-traditional bank owners by saying a different agency should be in charge. .Last…
The big slowdown in P2P loans
That sound, and the graph above *, is the growth in online lending in the UK that has all but come to a halt. Overall, the Big Five have not grown significantly since around September 2015; the smaller players are pretty much where…
Fintech lenders are ready, willing and able to help small businesses
A recap of yesterday's webinar on how fintech lenders are responding to the small business crisisMarch 27, 2020 By Ryan lichtenwald 1 comment
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Small businesses are the lifeblood of America and so many of…
HVACR service with text
As the country continues to fight the COVID-19 pandemic, several vaccines are now available, revealing a light at the end of the lonely tunnel. However, not all citizens will be vaccinated. Mechanical contractors will need to continue…
The Jack Ma era is over, Report
Famous Chinese businessman and one of the richest men in the world, Jack Ma (Ma Yun) has not been seen in public for weeks wondering where he is.He also disappeared from his reality TV show, Africa's Business Heroes, and was replaced by an…
China publishes rules for online bank lending – Journal
BEIJING (Reuters) - China's banking and insurance regulator on Saturday released draft rules on commercial banks' online lending activities, prohibiting the use of such loans for riskier investments and capping consumer credit online…
China prepares ‘rectification’ campaign to bring Jack Ma’s Ant Group in line
Ant Group UpdatesSign up for myFT Daily Digest to be the first to know about Ant Group news.
Beijing is speeding up plans to bring Jack Ma's Ant group more closely under its control as part of a "rectification" campaign…
My quarterly market loan results – Q4 2019
I was finally able to conclude my quarterly performance report for the fourth quarter of last year. I shared my detail quarterly returns with readers since 2011 and will continue to do so for the foreseeable future. Given the turmoil we…
Ant Group to create a consumer finance platform
from China Group of ants reportedly intends to create a new consumer finance company that would allow the company to consolidate its base in the country's online lending industry. Meanwhile, Ant - what a Chinese giant Alibaba Holding Group…
Atari to open blockchain-based online casino
Atari, seeking to capitalize on the popularity of non-fungible tokens (NFTs), plans to open a casino in the coming months, according to a report by Business time.
The casino was developed in partnership with the Decentralized games on the…
LENDonate secures $ 29 million tax-exempt bond for California Crosspoint Academy amid COVID-19…
OAKLAND, Calif .-- (COMMERCIAL THREAD) -LENDonate, an Oakland-based fintech company, announced another customer success, this one amid the COVID-19 pandemic. LENDonate's nonprofit lending platform helped secure a $ 29 million loan…
Chinese banking regulator signals tougher fintech antitrust laws
Fintech updatesSign up for myFT Daily Digest to be the first to know about FinTech news.
A senior official at China's banking regulator warned that technological advances in the financial sector risked creating monopolies,…
Global Digital Mortgage Platform Market Detailed List of Major Players and End Users Analysis and…
Digital mortgage platform provides services to manage the borrowing process. Digital Mortgage Platform aims to simplify, automate and standardize training, underwriting, quality assurance and customer support processes. This enables…
Digital transformation, accelerated | ABA bank journal
By Karen Epper Hoffman
Mmore than any other event in decades, the ubiquitous COVID-19 virus and its fallout this year has changed every element of people's lives - from the way they work, where they eat and shop, how they…