Bank Innovation

FEBRUARY 15, 2017

Lending Club may be back on track with banks, but not soon enough to help its fourth quarter results. 2016 was a tumultuous year for the online lender. The company set high goals for the fourth quarter, including its determination to generate $2 billion in loans. The lender’s very narrow miss of Read More.

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PYMNTS

JANUARY 27, 2020

In the wake of the financial crisis, banks’ pullback from small- to medium-sized business (SMB) lending yielded a flood of technology-driven players stepping in to fill the SMB credit gap. It’s amazing how much of the industry still operates with fax — it’s expensive, and it’s wasteful.”.

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Bank Innovation

MARCH 26, 2018

EXCLUSIVE- TD Bank today has partnered with cloud banking platform nCino, to integrate its corporate and commercial lending divisions with nCino’s Bank Operating System. The partnership allow TD Bank to digitalize the entire consumer lending process from start to finish. Check out how nCino works here.

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PYMNTS

MARCH 26, 2019

The industry indeed proved to be lucrative for FinTechs, with alternative lending often landing at the top of venture capital investment reports with giants like Kabbage , OnDeck and LendingClub securing an early lead in the industry. Further, GLI Finance revealed a $25.93 Further, GLI Finance revealed a $25.93

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Abrigo

AUGUST 28, 2022

Develop better ag lending workflows before demand picks up. A better ag lending process makes applying smoother for borrowers and can allow efficient ag loan growth without adding a lot of staff. Takeaway 1 Now is the time to plant the seeds for harvesting growth in the ag loan portfolio by creating a better ag lending process.

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Lending System Analysis Data 195

Abrigo

JULY 20, 2024

Ready to catch the next wave of lending growth? Commercial and industrial lending (C&I) will be the next big performance driver for banks and credit unions. You might also like this paper on how institutions can produce smarter, faster lending. C&I lending will be the next “bomb.”

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Lending Risk Management Management Capital 195

Abrigo

APRIL 11, 2025

Learn why Unique needs & challenges Each financial institution is unique, and adopting new technology requires thoughtful integration withor changes toexisting operations. Abrigos customer Community, an interactive forum and events section accessible from products, hosts more than 85,000 online participants each month.

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Technology Software Training Risk Management 195

Gonzobanker

SEPTEMBER 5, 2024

With the inefficient, circa-2004 borrowing processes resident in many banks’ loan departments today, too few lenders are equipped to deal with the rising tide of home equity volumes that will descend like a tsunami on their operations the moment Fed chairman Jerome (What-Are-We-Waiting-For) Powell announces a rate cut. It’s coming, lenders.

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Abrigo

JULY 25, 2022

Strong demand is a factor in the ag lending outlook ahead Ag lenders can begin taking steps to ensure they are prepared and can provide positive customer or member experiences. The outlook for ag lending has its share of uncertainty. Inflation, rates are factors in ag lending outlook. Farmers expect worse in 2023. Rising inputs.

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Abrigo

FEBRUARY 25, 2022

Personalized Touch with Efficient Service Can Boost Lending Banks and credit unions can boost business lending by combining a relationship focus with transaction-oriented processing. . This competition can only increase as the lending landscape continues to shift.

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PYMNTS

DECEMBER 7, 2020

With the holiday shopping season in full swing amid the global pandemic, online commerce is booming. Despite a surge in sales, small businesses selling online can struggle to manage working capital, particularly as many rely on third-party marketplaces like Amazon that don't facilitate instant access to revenues.

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PYMNTS

MARCH 15, 2019

Some of the largest global financial institutions are taking steps further into Mexico’s small business lending and finance space, the result of heightened competitive pressure imposed by FinTechs and alternative lenders in the market, reports in the Wall Street Journal said Thursday (March 14).

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Bank Innovation

JUNE 20, 2017

It’s been less than a year since Goldman Sachs unveiled its marketplace lending arm, Marcus. How has the platform been doing so far? Marcus has lent more than $1 billion since the launch, and plans to “cross” the $2 billion threshold by the end of the year, Chief Executive Lloyd Blankfein said in an interview […].

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Lending Operations Online Innovation 207

PYMNTS

JANUARY 28, 2021

Though traditional financial institutions have faced a surge in market pressure to digitize as new FinTech competitors emerge, there are still plenty of areas in which banks hold the upper hand, commercial lending included. But an overwhelming surge in demand painfully exposed traditional banks' biggest shortcomings in business lending.

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South State Correspondent

MARCH 3, 2025

Germain Depository Institutions Act of 1982 enabled thrifts to offer money market accounts and expand lending powers, fostering competition with banks. Banks were now allowed to operate across state lines, increasing competition. of C&I lending. In 1980, all foreign-controlled banks composed about 13% of commercial lending.

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South State Correspondent

FEBRUARY 20, 2023

Who the competition is, what the lending competition is offering, their delivery channels, and service levels can help community banks differentiate their services and enhance their competitive advantage. There are now many online, nationally-focused lenders that are capable of an entire virtual relationship.

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PYMNTS

FEBRUARY 14, 2020

has debuted a new version of its B2B point-of-sale (POS) lending platform to help enable real-time lending for business purchases, the company said in an announcement. Technology and equipment vendors can be live in a matter of minutes, offering real-time POS lending with little or no integration needed. “As CIT Group Inc.

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Bank Innovation

JUNE 25, 2018

Marcus, the consumer lending arm for Goldman Sachs, wants to become the one-stop shop for many of your financial matters, except for one: credit cards — at least for now. “Our fundamental thinking on the credit card space is that there is a lot of innovation that is required. It is true that the industry has a […].

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PYMNTS

NOVEMBER 19, 2020

While recognizing that digital currencies do pose risks, including the possibility of imposing “a macro-economic cost,” Haldane argued that a digital currency could mitigate technological constraints on lending, provide additional payments security, and increase stability. “I In other news, the U.S.

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Bitcoin cryptocurrency Online social media 222

PYMNTS

OCTOBER 19, 2020

Google Cloud is aiming to innovate the mortgage industry with its new artificial intelligence (AI) tool called Lending DocAI. In this industry, borrowers and lenders have high expectations; they want a mortgage document processing solution catered to improving operational efficiency, while ensuring speed and data accuracy. “In

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Google Tools Lending Industry 264

PYMNTS

FEBRUARY 3, 2020

Goldman, according to reports in Bloomberg, would be added to the Amazon lending platform, which has traditionally helped merchants get the funding they need to get inventory. Amazon Lending traces its roots back to 2011, and the company had $863 million in SMB loans, according to recent filings with the Securities and Exchange Commission.

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PYMNTS

JANUARY 19, 2021

The FI aims to wield Backbase tools to create digital banking channels across its operations, with its focus first landing on SMBs. In an effort to strengthen its offerings to SMBs, Romania’s NETOPIA Payments is integrating a lending feature from Bulgaria’s TBI Bank. TBI Bank Partners With NETOPIA Payments.

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PYMNTS

JANUARY 7, 2021

After Simple Bank launched as an online bank specializing in high-interest savings accounts, the current economic climate ended up making it unfeasible. The letter says that in the future, those accounts will solely be operated under BBVA, but customers will be able to access their money normally until then. So BBVA pulled the plug.

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Bank Innovation

NOVEMBER 3, 2017

EXCLUSIVE- After just over a year in operation, what’s next for Marcus, the consumer lending platform operated by incumbent bank Goldman Sachs? During the Digital Lending and Investing Conference currently taking place in New York today, Omer Ismail, chief commercial officer of Marcus from Goldman Sachs, highlighted a few areas.

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Perficient

JULY 11, 2022

When online shopping, if a retailer has a partnership with a BNPL platform, the customer can choose it as their payment method when placing their order at checkout. which is a huge draw to using BNPL as a non-cash payment method. Although this is certainly expensive for merchants, it has proven to be a worthy investment.

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PYMNTS

DECEMBER 16, 2020

Indeed, payroll information was key to administering PPP loans to small- to medium-sized businesses (SMBs), and according to Finch Co-Founder and CEO Jeremy Zhang , it won't be the last time payroll data is used to optimize SMB lending. Nor, he told PYMNTS, will SMB lending be the only use case that emerges from unlocking payroll data.

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Data Lending Innovation Fintech 291

PYMNTS

SEPTEMBER 30, 2020

The FinTech Capify has pulled in an additional $10 million in an equity round of funding and is banking on continued support from the Goldman Sachs Merchant Banking Division for its lending platform, which is geared to small to medium-sized businesses (SMBs). Capify is an online alternative lender that serves SMBs in the U.K.

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Fintech New York Capital Lending 210

South State Correspondent

SEPTEMBER 19, 2024

There is a myriad of manual processes that take place everyday in banking driving up unit economics and causing the average bank to operate with a 77+% efficiency ratio. To be competitive in the future, banks need to be operating at an efficiency ratio of below 40%. return on asset figure. This is an example of scalability in banking.

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Examples Lending Operations Management 195

Abrigo

FEBRUARY 23, 2022

Making small business loans efficient and worthwhile Digitalizing the lending process can help financial institutions win small business loans and meet customers' needs. You might also like this webinar on small business lending best practices. Top problems in small business lending. Roadblocks to Success.

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How To Lending Software Survey 195

PYMNTS

SEPTEMBER 29, 2020

And in an interview with PYMNTS, Jacob Shoihet , co-founder and CEO of the online financing platform Marco Financial , said the problem is particularly acute for exporters. “In In Latin America, the infrastructure mainly relies on banks to provide kind of these types of services to the SME segment. trillion globally, according to Shoihet.

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Bank Innovation

JULY 5, 2017

Machine learning and artificial intelligence have made waves in the lending space recently, but human underwriters are by far not out of the picture. That’s according to OnDeck’s Chief Financial Officer Howard Katzenberg.

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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 .

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PYMNTS

MAY 22, 2020

After a payday lender allegedly left consumers to pay more than promised by drawing continued interest-only deductions, the Federal Trade Commission (FTC) has charged a lending operation with overcharging customers and taking money from their bank accounts without authorization. Lead Express, Inc.; Sea Mirror, Inc; Naito Corp.;

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Bank Innovation

AUGUST 13, 2018

David Brydun, vice president of consumer lending, exclusively told Bank Innovation that the financial institution has partnered with Checkbook.io A lot of what goes on in digital lending is […]. Baxter Credit Union, based in N.J., has found a new solution to an old, and costly problem.

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PYMNTS

MARCH 20, 2020

Banking giant HSBC and Cainiao Network Technology, which is a logistics arm of Alibaba Group , have announced they will offer rapid finance approvals to online merchants that use Chinese shopping site Tmall, according to reports. Eight virtual banks are starting operations this year. The competition will be keen.

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Bank Innovation

JUNE 27, 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. Some of the shine seems to have come off fintech innovation in 2016.

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PYMNTS

NOVEMBER 8, 2018

The rollout of its SMB lending offering comes nearly 15 years after PayPal first launched operations in the market, and adds Germany to the list of markets in which PayPal Working Capital is available, including the U.S., ” German SMBs can apply for the working capital from PayPal online via their existing PayPal accounts.

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