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Why Two-Thirds Of SMBs Find Themselves Dissatisfied With Online Lenders

PYMNTS

In the wake of the Great Recession , small businesses found it difficult to secure loans via banks – and even when they were available, the common complaint was that the application process was slow, time-consuming, paper-intensive and ill-suited to the needs of small businesses. That, according to the Cleveland Fed, is the good news.

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Fed: Two-Thirds Of SMBs Say They Are Dissatisfied With Online Lenders

PYMNTS

In the wake of the Great Recession , small businesses found it difficult to secure loans via banks – and even when they were available, the common complaint was that the application process was slow, time-consuming, paper-intensive and ill-suited to the needs of small businesses. That, according to the Cleveland Fed, is the good news.

Online 132
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Fed Sees Possible Path To ‘Direct Issuance’ Of Digital Dollars

PYMNTS

Cleveland Federal Reserve President Loretta Mester said in a speech this week that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America. Digital dollars could make the leap from concept to reality, but there might be a few ways to get there.

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Google Pay Adds 29 US Banks To Mobile Payment Service

PYMNTS

Greater Cleveland Community Credit Union. Security Bank (NE). The system lets customers make online or in-store payments, all using the mobile app. Community Bank of the Bay. Community First Credit Union (OH). Evans Bank. Federated Bank. First Bank of Boaz. First Central Credit Union. First National Bank of Milaca. McClain Bank.

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SMEs Severely Dissatisfied With eLending Experience – Fed

PYMNTS

But Federal Reserve Bank of Cleveland senior policy analyst Ann Marie Wiersch told Forbes in an interview that bank lending to small businesses is still struggling. Among the most common complaints for online lenders included “high interest rates, unfavorable repayment terms and lack of transparency,” the report wrote.

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Oracle’s three modes of Progressive Transformation

Celent Banking

Suncorp in Australia has started the process of moving off its Hogan core by focusing on unsecured lending; its next stop will be secured lending. KeyBank , based in Cleveland, announced at Open World that it intends to use non-core systems components of Oracle Banking Platform (“OBP”) to enhance and modernize its mobile and online channels.

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Retail Enabler: CardinalCommerce Protects SMBs From Holiday Fraud

PYMNTS

Black Friday and Cyber Monday sales continue to increase year over year — while some project online holiday sales at $98 billion, new estimates from the National Retail Foundation project that this year’s online holiday sales could reach $117 billion. That’s where CardinalCommerce comes in.

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