Bank Innovation
FEBRUARY 19, 2020
LendingClub, the publicly traded digital-lending marketplace, announced Tuesday that it is acquiring Boston-based Radius Bank, which has $1.4 billion in assets and is partnered with several fintech companies. LendingClub will pay $185 million for the acquisition, which the company expects to pay for itself in less than two years.
PYMNTS
OCTOBER 11, 2020
Santander Bank has announced three high-level appointments, two overseeing lending operations and another overseeing marketing, according to a press release. Giancarlo Marchesi was named head of Consumer Lending, a new role at Santander. Patrick Smith was named head of Small Business Banking. Smith holds a B.S.
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PYMNTS
JUNE 19, 2020
More people going back to work is only positive news if it can be done safely and in the long term, Boston Fed President Eric Rosengren indicated in remarks to the Greater Providence Chamber of Commerce on Friday (June 19). In terms of the Main Street Lending Program, Rosengren said the effort is off to a good start.
Bank Innovation
APRIL 21, 2020
The Boston-based bank is creating its own solution in advance of the PPP forgiveness process that will start […]. Radius Bank is standing up a Paycheck Protection Program loan forgiveness tool, even as many banks feel left in the dark by the Small Business Administration, which hasn’t yet released details on how the process will work.
Bank Innovation
JUNE 21, 2016
As part of a broader digital-first strategy, Radius Bank partnered with Gradifi, a Boston-based startup, to launch a new MasterCard debit card that will help members reduce student loans. The new debit card will be available in the fall, the company said this morning. Here’s how it works: costumers will Read More.
PYMNTS
FEBRUARY 18, 2020
LendingClub provides personal lending online, and it wants access to funding that is more stable and not as expensive. Radius is based in Boston and has in the neighborhood of $1.4 LendingClub was part of a wave of early FinTech firms that was geared toward marketplace lending, while others matched borrowers with lenders.
PYMNTS
JULY 12, 2020
Department of the Treasury and the Federal Reserve gave hope to small- to medium-sized businesses (SMBs) with the announcement of the Main Street Lending Program. No, but we all need to work together, and we have worked together quite effectively,” Boston Fed President Eric Rosengren told WSJ. More than three months ago, the U.S.
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