PYMNTS

NOVEMBER 28, 2018

Since the 2008 financial crisis, B2B vendors have essentially morphed into financiers for their own customers, lending out goods and services as they wait months to be paid. When it comes to small business lending, a shift away from making deposits would effect the way financiers mitigate risk and underwrite potential SMB borrowers.

Lending 168

Lending Payments Cards System 168

PYMNTS

MAY 31, 2019

The 2008 financial crisis gave rise to the alternative lending market as a result of a massive gap in available capital, especially for small businesses and startups. It encouraged banks to develop their own digital lending solutions and collaborate with their one-time rivals to step up the borrowing experience for SMBs.

Lending 130

Lending Regulation Capital Industry 130

PYMNTS

JANUARY 29, 2018

The financial services market has progressed by leaps and bounds in terms of innovation, from the rise of alternative finance to the development of technologies like blockchain and open banking initiatives. author of the report and Florida Atlantic University’s Kaye Family Endowed Professor in Finance.

Lending 116

Lending Florida Report Community Bank 116

PYMNTS

JULY 7, 2020

The small- to medium-sized business (SMB) lending industry is used to adaptation, especially since the 2008 financial crisis, when legacy financial institutions (FIs) began pulling back and FinTechs and digital players stepped up in the space. Outdated Lending Practices Fail To Meet SMBs’ Current Needs .

Lending 138

Lending Study Industry Tools 138

PYMNTS

OCTOBER 26, 2017

It was the (initially) small FinTech startups that delivered a collective shakeup to the small business (SMB) lending industry. Their next target could be small business lending, and according to some experts, it’s fast approaching the market. New reports in Bloomberg on Wednesday (Oct. We’re starting to see that.”.

Lending 109

Lending Google Fintech Industry 109

PYMNTS

AUGUST 8, 2017

When news of the financial crisis broke in 2008 and big banks all over the world were eschewing consumer and small business credit markets, Batine and Dunaev saw an opportunity — one that was particularly pressing in developing nations, an area of the world that was below the big banks’ radars.

Lending 105

Lending Capital Fintech Marketing 105

PYMNTS

JANUARY 7, 2021

Founded in 2011, SoFi has worked to leverage lending after the 2008 financial crisis, focusing on student loan refinancing. SoFi’s technology platform Galileo , which it acquired in April, has helped position the startup at the nexus of the digital transformation in banking and financial services.

Samsung 183

Samsung Capital Lending Innovation 183

PYMNTS

MARCH 18, 2016

The alternative small business lending market took home the biggest slice of cake this week with about $33.5 That may not have been surprising this time last year, but today, considering talk of lackluster performance by these innovators — plus recent warnings over a total market collapse — that funding is pretty impressive.

Lending 100

Lending Capital Google Security 100

PYMNTS

MARCH 10, 2020

In a recent conversation with PYMNTS, Raghav Mathur, head of data science and analytics at Singapore-based Grab Financial Group , discussed the opportunities in data technology that can address the region’s most pressing SMB lending needs. Improving The SMB Lending Experience. Asymmetric Information Exchange.

Data 193

Data Lending Capital social media 193

PYMNTS

AUGUST 20, 2020

Seventy percent of SMBs are adding new digital capabilities or enhancing existing ones to continue their operations, but firms often require financing to implement these innovations. SMB Lending Risks. One of the most pressing issues plaguing SMB lenders is the risk of fraud.

Fintech 177

Fintech Fraud Lending Regulation 177

PYMNTS

MARCH 2, 2020

and impact the global economy was the financial crisis of 2008, which plunged the U.S. Yet out of the financial crisis came a wave of innovation that has reshaped how businesses and people have engaged over the last decade, seeding the path for the innovations that are at our doorsteps this decade in the connected economy.

Innovation 281

Innovation Online Video Maine 281

Gonzobanker

MAY 9, 2017

Is automation a missing link to a more productive and profitable commercial lending department? The 2015 Cornerstone Performance Report found significant reductions among mid-size banks in both monthly loans originated and outstandings per commercial lending full-time equivalent employee. – Reduced overhead and cost per loan.

Lending 84

Lending Analytics Data United States 84

Celent Banking

JUNE 12, 2015

This includes global transaction services, small business services, commercial and small business lending, and the changing role of corporate treasury and its impact on meeting the needs of corporate banking clients. On the lending side, US commercial loan outstandings have more than fully recovered from the 2008-2009 financial crisis.

Lending 100

Lending Trends Meeting Banking Trends 100

PYMNTS

JULY 29, 2016

The outlet said insurance firms, like MetLife and American International, are branching out into an array of lending practices, including small business lending. Financial Stability Oversight Council and is North Dakota’s insurance commissioner, in an interview.

North Dakota 100

North Dakota Lending Regulation Industry 100

Bank Innovation

OCTOBER 17, 2016

Recently a federal appeals court decided that the Consumer Finance Protection Bureau—a federal organization designed to safeguard against some of the pitfalls that led to the 2008 crisis—had been operating unconstitutionally, something which is certainly a blow to the agency itself and will no doubt have ramifications for how it Read More.

Fintech 150

Fintech Operations Compliance Online 150

PYMNTS

JULY 30, 2020

In 2008, eBay, PayPal’s parent, acquired Bill Me Later for $820 million in cash and $125 million of outstanding stock options. These are unprecedented times, and retailers are looking for innovative solutions to support their customers…” . In January, Sezzle was denied a crucial lending license from California.

Minneapolis 145

Minneapolis Leadership Strategy California 145

Bank Innovation

FEBRUARY 1, 2019

The 25% plunge -- the worst since July 2008 -- capped a tumultuous three days that shaved about €7.2 Wirecard AG fell the most in more than a decade on Friday after a report that a law firm found evidence of alleged forgery, the latest fraud allegations to beset the digital payments company. billion ($8.3 […].

Fraud 150

Fraud Report Payments Company 150

Bank Innovation

NOVEMBER 21, 2016

The Financial CHOICE Act, proposed by Texas Congressman Jeb Hensarling earlier this year, is a measure aimed at overturning or heavily modifying many of the regulations put in place after the 2008 financial crisis. The act has recently fallen under scrutiny from Wall Street as the president-elect championed a lessening of Read More.

Texas 150

Texas Fintech Regulation Management 150

South State Correspondent

MARCH 14, 2024

The bank that will be around in the next 50 years will be one that develops the ability to build infrastructure now that allows for efficient innovation in the future. Banks need to evaluate new technology, new lending areas, and new cash management levels to name a few with a longer time horizon and with some process rigor.

Innovation 195

Innovation Strategy Capital Comparison 195

PYMNTS

DECEMBER 20, 2017

Despite many initiatives since 2008, a quarter of executives at SMEs still think nothing has changed in banking. since the financial crisis and resulting pullback of small business lending among larger, traditional financial institutions (FIs). CivilisedBank is one of several challenger banks that have emerged in the U.K.

Survey 116

Survey Lending Groups Innovation 116

PYMNTS

JULY 11, 2017

trillion, not including home mortgages and other real estate debts, such as home equity lending. In contrast, auto sales have been slowing (likely inevitable after last year’s breakneck pace), and the category including auto and student lending has followed suit, increasing at a slightly lower $11.05 billion to $12.9

New York 100

New York Lending Cards Report 100

PYMNTS

JULY 10, 2018

Indeed, McCann recently told PYMNTS that he considers Open Banking to be “the single biggest technology-driven innovation to happen in the banking sector anywhere in the world, outside of China.” Today, Australian FIs are facing increased pressure from regulators, especially when it comes to small business banking and lending.

Fintech 106

Fintech Regulation Innovation Data 106

PYMNTS

MAY 24, 2016

The threat that is alternative lending is no more, according to a new report by Deloitte. The firm published a paper on the marketplace lending industry this week following a rocky month for the sector — the sudden exit of Lending Club’s CEO sent stocks tumbling. Soon after, the U.S. ” . . Nothing To Fear.

Report 100

Report Lending Industry Marketing 100

PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. lending marketplace. Attorney Alex Tse. “We The Response.

Lending 135

Lending Fraud Management San Francisco 135

PYMNTS

APRIL 2, 2020

We’ve already seen innovation in the space with respect to cryptocurrency networks, as well as some of the things the broader domestic and global networks are doing to effectively replumb electronic payments for real-time payments.”. They have strong balance sheets and the ability to lean in and lend, which is very important.”.

Cards 130

Cards Payments cryptocurrency Lending 130

PYMNTS

SEPTEMBER 18, 2017

has strongly hinted that the agency she birthed in 2008 and opened for business in 2011 — the Consumer Financial Protection Bureau (CFPB) — should be given the authority to do even more. The credit score itself, the FICO score, was an innovation brought to market in 1989 by the Fair Isaac Corporation. What we need is competition.

Report 202

Report Regulation Data Retail 202

CB Insights

APRIL 22, 2020

Most alternative lenders, such as BlueVine , and the algorithms their lending decisions rely on are a post-2008 phenomenon. As a result, many fintech lenders will see their lending algorithms stress-tested for the first time. LENDING MARKETPLACES CAN SHOWcase THEIR UTILITY. worth of loan applications.

Fintech 87

Fintech Lending Online Examples 87

PYMNTS

JULY 2, 2019

The 2008 global financial crisis forced traditional banks to pull back from small businesses (SMBs) considered too risky and unprofitable to finance, leaving a gap in the market for alternative lenders and FinTech firms to fill. The bank-FinTech collaboration trend has hit the small business customer segment particularly strong.

Fintech 125

Fintech Resources Capital Trends 125

PYMNTS

SEPTEMBER 20, 2017

BECU and other credit unions have also had to address the emergence of new FinTech companies, firms which are disrupting financial services by offering consumers innovative new options for managing their money. Among the companies approached is Even, a supply-side marketplace lending company.

Fintech 123

Fintech Innovation US Mobile 123

PYMNTS

DECEMBER 18, 2017

Following the global financial crisis and a pullback among banks from small business (SMB) lending, some jurisdictions have recently begun introducing new initiatives to entice competition in the space. Just a few years ago, if you wanted to build an innovative financial product you [had] to be a banker,” said Odorović. The result?

Apple 112

Apple Regulation Innovation Community 112

PYMNTS

OCTOBER 22, 2020

Installment payment options are not new to PayPal, which launched its first foray into the field with its Bill Me Later service in 2008. Founded in 2012 by PayPal co-founder Max Levchin, Affirm was something of an outlier when it entered the market with its POS installment lending product. PayPal’s Global Push. earlier this month.

Trends 193

Trends Payments Retail Meeting 193

PYMNTS

DECEMBER 28, 2018

The rising rates have not only made debt more expensive, but they have been a weight on loan growth across both bank and FinTech lending platforms in the back half of the year. told PYMNTS that, though there might be a market correction in mortgage lending, there are no signs at present that there is any 2008-like calamity around the corner.

Millennials 145

Millennials Lending Data System 145

Independent Banker

FEBRUARY 28, 2023

During that time, he took the community bank through the Great Recession of 2008–09. We lost 90-plus banks to failure in between 2008 and 2013. He achieved it at 34 years old at First Peoples Bank in Pine Mountain, Ga., where he stayed for 15 years, from 1998 to 2013. So, it was a very, very difficult time.”

Community 172

Community Community Bank Georgia San Antonio 172

FICO

DECEMBER 1, 2020

Increased provisions, reduced capital, less ability to lend. All this will raise the question: Whatever capital I have got, how much can I lend to borrowers who have a low confidence on their own financial prospects, and are unsure if they should borrow or not? They can optimize the use of their capital and who they lend to.

Taxes 76

Taxes Lending Capital Regulation 76

PYMNTS

FEBRUARY 12, 2018

Yet, according to Fung Global Retail & Technology, 6,985 stores closed in 2017 , up 229 percent from 2016, and well above the number of stores which closed in the year that started physical retail’s death spiral: 2008. What Innovation? In other words, it’s a lot.

Big Data 135

Big Data Data Retail Marketing 135

Jeff For Banks

DECEMBER 18, 2014

and its subsidiary BofI Federal Bank aspire to be the most innovative branchless bank in the United States providing products and services superior to their competitors, branch-based or otherwise. BNC suffered significant credit woes during 2008-09 which led to material losses in ''09-10, and the decline in their tangible book value to $5.09/share

North Dakota 90

North Dakota Arizona Minnesota Los Angeles 90

BankUnderground

JUNE 25, 2020

A wide variety of activities could be affected including insurance , and bank accounts and, lending , cross-border payments , know your customer / anti-money laundering / counter-terrorist financing measures, risk management , compliance, internal fraud detection, cloud computing and international settlement of securities transactions.

Data 131

Data Big Data Regulation Risk Management 131