Bank Innovation

MARCH 6, 2020

Iwoca, a London-based small business lender, announced a debt financing round of 100 million euros ($112 million) last week to fund new loans in Germany.? “We We have seen considerable growth in the [German] market,” said Oliver Schmid, general manager of Iwoca Germany. What sets us apart from banks is we built the system from scratch […].

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Lending US System Management 221

Bank Innovation

JANUARY 23, 2020

Ally Financial this week reported it’s continuing its winning streak in deposit growth. In a third-quarter earnings report, the bank reported total deposits of $119.2 billion, up 18% year over year. Meanwhile, the bank’s customer retention rate stands at 96%, a level it characterized as “stable and strong.” Ally revealed that it has 1.94

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Report Lending Innovation Strategies Marketing 221

Bank Innovation

APRIL 29, 2020

Great Southern Bank is using lending technology from the cloud banking vendor nCino to increase efficiency for commercial and retail loan officers. “We

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Lending Retail System Operations 259

Bank Innovation

AUGUST 2, 2019

American Express acquired business-to-business payment company Acompay this week, allowing the company to automate the accounts payable process for business customers. The acquisition comes at a time when large institutions are looking to grow their business clientele through new underwriting tools and other technology.

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Lending Tools Technology Payments 170

Bank Innovation

JANUARY 22, 2020

Chief Operating Officer Paul-Henri Ferrand told Bank Innovation that the company aims to add insurance, lending and treasury products. “We’re building our operating system around our real-time underwriting and our financial stack. We think we can […].

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Lending Innovation Cards Operations 273

Bank Innovation

AUGUST 5, 2019

expansion strategy. based digital lender OakNorth is using its tech platform as the pillar of its U.S. The company, which has a U.K. banking license and is currently valued at $2.8

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Lending Strategy Company Innovation Strategies 199

PYMNTS

JULY 29, 2019

The new service, Flex Loan, is being offered by SkyPoint Federal Credit Union and was established through a partnership with cloud-based mobile lending platform QCash Financial. Auto lending is also getting an upgrade in the CU market. Small dollar loans are often sought when members need funds to cover unexpected expenses.

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Pennsylvania Analytics Maryland Innovation 173

Bank Innovation

NOVEMBER 22, 2019

Siam Commercial Bank Pcl plans to spin off some of its fintech divisions as it tries to monetize its push into technology investment at a time of sluggish earnings from traditional lending. The nation’s third-biggest lender by assets expects one of the fintech units has the potential to become a ‘unicorn,’ or a private company […].

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Fintech Lending Technology Company 221

Bank Innovation

OCTOBER 31, 2019

Digital financial services from lending to asset management are expected to generate at least $38 billion of annual revenue across Southeast Asia by 2025, more than tripling from $11 billion in 2019, according to a new study by Bain & Co., Online lending will comprise about half that total for […].

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Study Lending Google Online 186

Bank Innovation

JULY 22, 2019

Citizens Bank is accelerating its tech investments to speed up migration to the cloud, as well as to support new digital products and services. The bank will make a net investment of about $50 million over the next two years that will be put toward “reinventing” point-of-sale payment experiences and new digital offerings for commercial […].

Lending 170

Lending Payments Innovation Strategies Software 170

Bank Innovation

JULY 22, 2019

Citizens Bank is accelerating its tech investments to speed up migration to the cloud, as well as to support new digital products and services. The bank will make a net investment of about $50 million over the next two years that will be put toward “reinventing” point-of-sale payment experiences and new digital offerings for commercial […].

Lending 170

Lending Payments Innovation Strategies Software 170

BankInovation

JUNE 26, 2020

economy began to show signs of recovery after the initial shockwaves of the Great Depression, General Electric launched a point-of-sale lending product to provide cash-strapped customers with installment loans so the manufacturer could sell its product. Almost a century ago, when the U.S.

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Lending Capital Customer Experience Innovation Strategies 98

PYMNTS

FEBRUARY 23, 2020

To offer expanded services as it pursues a digital innovation strategy of harnessing partnerships to provide an enhanced customer experience, Fifth Third is teaming with Fundation for small business loans. Graziano continued, “This collaboration does exactly that.

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Customer Experience Innovation Strategies Guidelines Meeting 130

Bank Innovation

AUGUST 16, 2019

based peer-to-peer lending platform, hit a $10 billion milestone in loans to small- to medium-sized (SME) businesses on Thursday. The nine-year-old company plans to continue to develop its “partnership strategy,” Bernard Martinez, U.S. managing director at Funding Circle, told Bank Innovation. In the U.S.,

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Strategy Lending Innovation Management 150

Bank Innovation

AUGUST 20, 2019

Oregon Community Credit Union (OCCU) has launched phase one of its digital platform, a move meant to “set the foundation” for the credit union’s new focus toward automation, Chris Whittaker, vice president of consumer lending, told sister publication Auto Finance News on Monday.

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Oregon Community Lending Digital Banking 150

BankInovation

MAY 5, 2020

based bank is leveraging the program to reach new customers and jumpstart its SMB lending business — and is doing so with […]. The Sparks, Nev.-based

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Lending Payments Innovation Strategies Strategy 69

PYMNTS

SEPTEMBER 29, 2020

Todd Lane , the credit union’s president, said the move reflected an overall decrease in the demand for certain credit products and that members have been especially interested in tapping mortgage lending products. CUs are also facing a broader challenge in appealing to younger consumers as their membership bases age.

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San Diego Innovation Cards California 141

BankInovation

JULY 17, 2020

Point-of-sale lending, meanwhile, is continuing its rapid growth trajectory. Credit unions are rejecting some of the big core providers and instead choosing startups to overhaul their technology. Royal Oak, Mich.-based based banking software company Bankjoy has grown its customer base by 50% since the start of the pandemic.

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Lending Software Technology Company 64

BankInovation

JUNE 26, 2020

Payability, a digital SMB lender, has seen its lending portfolio surge 50% since the start of the pandemic, CEO Keith Smith told Bank Innovation. The company offers an invoice factoring product that pays clients’ invoices up front in exchange for a portion of the total.

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Lending Innovation Company Customer Experience 98

PYMNTS

AUGUST 22, 2019

Warder recently spoke with PYMNTS about how legacy operations are approaching their innovation strategies amid the rise of challenger banks, and why the latter institutions represent a key progression for the digital banking world. Legacy Banks and the Innovation Game. What I think these FinTechs can do is focus on one area.

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Innovation Digital Banking Fintech US 109

Bank Innovation

APRIL 8, 2020

Banks are feeling the pressure of small businesses nationwide applying for Paycheck Protection Program loans.

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Retail Customer Experience Innovation Strategies America 370

Bank Innovation

APRIL 10, 2020

One week after the Small Business Administration launched its Paycheck Protection Program, banks and fintechs alike are still navigating best practices to get funding into the hands of small business clients. As COVID-19 continues to rattle the economy, startups are launching new products and features to engage customers.

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Fintech Customer Experience Innovation Strategies Video 369

Bank Innovation

APRIL 13, 2020

One week after the Small Business Administration launched its Paycheck Protection Program, banks and fintechs alike are still navigating best practices to get funding into the hands of small business clients. As COVID-19 continues to rattle the economy, startups are launching new products and features to engage customers.

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Fintech Customer Experience Innovation Strategies Strategy 364

The Financial Brand

SEPTEMBER 12, 2021

Increasing demand for digital loans and faster decisions is changing the face of consumer lending. The post Banks Are Arming to Win the Digital Lending War With Fintechs appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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Lending Fintech Banking Trends Analysis 40

BankInovation

JULY 7, 2020

Suncrest Bank, a commercial lender in the Greater Sacramento area, is expanding into the small dollar loan market this year as it looks to build on business gained through the Paycheck Protection Program, according to President and CEO Ciaran McMullan. Visalia, Calif.-based

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Sacramento Lending Fintech Marketing 69

Bank Innovation

MARCH 12, 2020

Fintech startups looking to upend how Americans do their banking are facing their first major test as interest rates fall and fearful consumers seek safety at traditional banks. Square Inc. and Stripe Inc., mobile payments companies founded after the 2008 financial crisis, and digital banks including Chime Inc.

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Digital Banking Payments Fintech Mobile 359

Bank Innovation

JANUARY 15, 2020

The biggest U.S. card companies just moved a step closer to gaining access to China’s $27 trillion payments market. China said it won’t take longer than 90 days to consider applications from providers of electronic-payments services such as Mastercard, Visa and American Express Co.,

Marketing 347

Marketing Cards Payments Company 347

Bank Innovation

DECEMBER 24, 2019

If 2019 was the year of the challenger bank, 2020 will be the year payments companies move closer to bank territory. Marqeta, the card issuing and processing startup supporting the capabilities of large companies like Kabbage and Square, sees 2020 as a big year for payments companies branching out into banking.

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Banking 2020 Cards Payments Company 341

Bank Innovation

APRIL 14, 2020

Last week saw banks and fintechs scrambling to stand up platforms to process Paycheck Protection Program loans, and now the struggle is to keep the platforms running while weeding out potentially fraudulent applications. Fraud is a common trend with government relief programs.

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Fraud Trends Fintech Innovation Strategies 335

Bank Innovation

DECEMBER 24, 2019

Financial technology startups will enter the next decade with a little more street cred than the last time around. Nearly 60 upstarts focusing on financial services — from Stripe Inc. to Chime Inc. to Plaid Inc. — have garnered valuations of more than $1 billion in recent years, according to CB Insights.

Financial Technology 332

Financial Technology Technology Innovation Strategies Apple 332

Bank Innovation

FEBRUARY 24, 2020

Arthur Levy, vice president of business development at Brex, is attending Bank Innovation Ignite in Seattle, which takes place from March 2-3. He is speaking on a panel titled “How to make SME banking innovation work,” which will focus on small business products, payments and underwriting.

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Innovation Seattle How To Payments 312

Bank Innovation

DECEMBER 11, 2019

Small business lender OnDeck is making a pitch to Main Street. The company, which has been outspoken about its pursuit of a bank charter, is trying to move beyond loans and become a digital bank for small businesses. CEO Noah Breslow called the target customers “mom and pop, main street small businesses” with less than […].

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Maine Digital Banking Company Customer Experience 312

Bank Innovation

MARCH 13, 2020

As the novel coronavirus continues to spread, rattling the economy, banks are reevaluating their business propositions to clients.? WaFd, formerly Washington Federal Bank, is offering interest-free lines of credit of up to $200,000 to small businesses as a result of the pandemic.

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Seattle Washington Omaha Customer Experience 307

BankInovation

JULY 23, 2020

Banks should be paying attention as Amazon continues to experiment in payments, insurance, cash deposits and lending, according to CB Insights’ “Everything You Need to Know About What Amazon Is Doing in Financial Services” report. One can see the beginnings of what the Bank of Amazon could look like — a variety of key financial […].

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Lending Report Payments Customer Experience 75

South State Correspondent

SEPTEMBER 20, 2022

It was agreed that too many lines of business, such as treasury management, commercial lending, and commercial deposits, are not utilizing their marketing departments enough, given the tremendous value of their products. The top part of this range seems to be around 10.5%. Bank Marketing Lesson 7: Multicultural Marketing.

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Conference Marketing social media Data 195

Bank Innovation

APRIL 15, 2020

Bank of America customers are shifting toward digital tools. According to data released by the bank, supplementing its earnings call today, customers made more than 102 million transactions through Zelle, its peer-to-peer payments tool, during the first quarter of 2020.

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America Tools Data Payments 293

Bank Innovation

MARCH 19, 2020

What is the role of innovation in response to these rapidly unfolding events? For insights into these questions, Bank Innovation and INV Fintech, its sister banking innovation services platform, will present a special Zoom meeting on […]. How will banks and startups work together?

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Meeting Fintech Innovation Customer Experience 293