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Dialing Up Performance in Home Equity Lending

Gonzobanker

With the inefficient, circa-2004 borrowing processes resident in many banks’ loan departments today, too few lenders are equipped to deal with the rising tide of home equity volumes that will descend like a tsunami on their operations the moment Fed chairman Jerome (What-Are-We-Waiting-For) Powell announces a rate cut.

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Last Major US Video Rental Chain Is Closing All Brick-And-Mortar Stores

PYMNTS

on its brick-and-mortar operation. Family Video , which operates some 200 stores in 17 Midwest and Southern states, announced this week that it’s closing all physical locations after four decades in the business. Industry leader Blockbuster Video went from a peak of more than 9,000 stores in 2004 to filing for bankruptcy in 2010.

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Report: Alibaba’s Ant Group Plans Hong Kong IPO At $200B+

PYMNTS

Ant Group, the online payment service affiliate of China’s Alibaba Group Holding Ltd, is looking to go public as early as this year, Reuters reported. . If the IPO moves ahead, one of the sources said it would be one of the world’s biggest listings this year. Ant Group was launched in 2014 to provide global financial services.

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PayPal Sells Consumer Loans to Long-Time Partner Synchrony Financial

Bank Innovation

Synchrony Bank has been PayPal’s banking partner since 2004. Yesterday, the San Jose, Calif-based PayPal said it agreed to sell $5.8 billion in consumer credit receivables to Stamford, Conn-based Synchrony Bank, a unit of Synchrony Financial. In addition to selling its credit […].

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OnDeck Eyes Equipment Finance Loans For SMBs

PYMNTS

Online small business lender OnDeck has announced that it will offer equipment finance loans to select U.S. “We expect OnDeck equipment finance loans to quickly become a vital source of online financing for small business owners seeking simple, transparent equipment financing they can understand and utilize.” ”

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PSCU Credit Unions See Boost In Sales During Prime Day

PYMNTS

Founded in 2004, PSCU’s Advisors Plus offers consulting services for credit unions to help growth and achieve financial and business goals. Amazon Prime Day is an exceptionally visible event with broad marketability — and it gets bigger every year.

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Ant Financial Buys WorldFirst In $700M Deal

PYMNTS

Since launching in 2004, the publication noted that the company has transferred $90 billion for customers. The tie-up will add WorldFirst ’s international online payments and virtual account products to Alipay’s range of technology solutions,” an Ant Financial spokesperson told the outlet, without providing details about the deal.

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