The Consumer Financial Protection Bureau sued LendUp in September, alleging that the digital payday lender consistently misled customers about the benefits repeatedly using its loan products.
LendUp is a company focused on providing access to credit for the underserved; with the news announced today LendUp will...
Solving business problems means you can better avoid the other fintech founder traps.
More than 20 million customers use the Starbucks mobile app for payments at least once every 6 months, that is...
The American Fintech Council Policy Summit in Washington DC brought together fintech, banking and government leaders for a full day of learning and networking.
Capital One’s chatbot Eno just turned one recently and the bank talked about what they learned this past weekend at SXSW; Carla Saavedra Kochalski, director of conversational AI products, tells TearSheet “We saw there was a huge need to build something smarter and more conversational, not only for those types of experiences but to allow customer service through texting.”; the technology is still limited and in most cases customers still interact on a simple basis like asking for an account balance or approving a questionable transaction. Source.
BB&T suffered a technical glitch that knocked out their ATMs, online and mobile banking in February; during a recent earnings call BB&T Chief Executive Kelly King described how they handled the incident and how it effected revenues; there are many lessons other banks can take from BB&T as this will not be the last tech hiccup, ensuring technology is full tested and then tested again is one of the main lessons others can take away. Source.
Lev, a commercial real estate platform offering expedited, transparent capital, announced the launch of its Lev Lending platform.
The digital banking market continues to get more crowded by the day with Level launching a banking app that features...
With regulatory changes in China the online lender LexinFintech scaled back their IPO target from $500mn to $120mn; the company is looking to IPO next week and is offering 12 million shares at a price range of $9 to $11; recent IPOs by Chinese fintechs like Qudian have seen a significant drop in value after the regulatory push in China. Source.