Yesterday we kicked off LendIt Fintech Digital with a discussion between Peter Renton, co-founder of LendIt Fintech and Steve McLaughlin,...
Quontic Bank started with just one branch and about $20mn in assets before CEO Steve Schnall recapitalized and set a...
Patch Homes has officially launched after operating in private beta; the platform seeks to allow homeowners to greater utilize the equity in their homes; by offering investment versus a home equity loan, homeowners contract with Patch Homes for capital proceeds that can be used for any type of financing needs; Patch Homes then shares in the gains and losses on the home's value over the contracted timeframe; Patch Homes has identified a $4.5 trillion home equity market in the US; along with its launch it also announced $1 million in fundraising to support its growth and to expand its offering beyond California. Source
As fears continue over the coronavirus the World Health Organization said they would encourage the increased usage of contactless payments;...
While financial institutions are starting to progress on sustainability, there are several ways that progress can be accelerated.
The rejection of Grayscale Investments’ petition marks a fresh setback to the cryptocurrency industry.
The company is calling their strategy the digital everything model, which includes new mobile features and back office operations powered by the blockchain; “We’re not going to lose our financial discipline because we have to make an investment that we have to do or want to do,” CEO Jamie Dimon said when asked about their approach to the tech investment; branch expansions, investments in big data solutions and more were also discussed during the investor call as reported by American Banker. Source.
The Wall Street Journal is reporting that bitcoin is in the longest slump of its 10-year history; the total market...
A new report by the Federal Reserve Bank of New York shows that subprime auto loans from nonbank lenders have higher delinquency rates than banks; about 4.4 percent of subprime loans from banks are delinquent while 9.7 percent from nonbank lenders are delinquent; “This suggests that bank auto loans may have some additional layers of underwriting — credit score alone does not explain the gap and divergence in the delinquency rates,” the New York Fed report stated as reported by American Banker. Source.
The company, which is undergoing bankruptcy proceedings, received court approval for the $270 million plan on Thursday.