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2016 Innovators to Watch: 44 Executives Shaping the Future of Banking

Bank Innovation

Some of the shine seems to have come off fintech innovation in 2016. Startup valuations are dropping; once abundant venture capital is growing scarcer; marketplace lending has gotten bruised — even the self-proclaimed capital of fintech, London, faces an uncertain future with Brexit.

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Square Capital Loan Volume Grows 68% YoY, Replacing Need for a Credit Card

Bank Innovation

Mobile payments company Square grew its gross payment volume 34% over last year, and its loans through Square Capital were up twice that — 68%. billion in payments in the fourth quarter of 2016, compared with $10.2 The San Francisco-based company processed $13.7 billion in the same quarter last year. Read More.

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Square Capital Pulls eBay Into SMB Lending Space

PYMNTS

When eBay announced that it would be accepting Apple Pay , it wasn’t the only new development for the online marketplace. Bloomberg reported Tuesday (July 24) that eBay will begin offering merchants up to $100,000 in financing through Square Capital. Square Capital is likely to see a significant boost to its financing volumes.

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Capital One Offers Free Business Credit Reports

PYMNTS

Capital One has announced the launch of Business CreditWise , an online tool that enables U.S. Business CreditWise is available to any business in the United States — not just Capital One customers. businesses to check their credit profiles.

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SMBs’ Online Lending Surge Raises Borrower Protection Concerns

PYMNTS

Small businesses continue to flock to online platforms to find much-needed financing, with banks still failing to fill the demand for small to medium-sized business (SMB) loans despite economic growth in the U.S. But the majority of online SMB lenders do not disclose publicly their fees and interest rates, reports warned.

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Online Used Goods Marketplace Letgo Raises $175M in Huge Venture Capital Round

PYMNTS

Letgo , the online used goods marketplace, secured $175 million in funding. Just last month, Google named letgo one of 2016’s “Best Apps,” and it remains one of the top ranked shopping apps in the U.S. The site, which launched in 2015 and is also regarded as the would-be craigslist killer, has raised more than $3.25

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India Closes 2016 On Top

PYMNTS

FinTech is no stranger to this pattern, and while venture capital levels have seemed to dwindled in certain markets (analysts found VC funding down by 29 percent in 2016 compared to last year), B2B startups remain the apple of many investors’ eyes. India saw a particularly lucrative year. India saw a particularly lucrative year.

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