USA

A to Z

USA

·Dec. 7, 2016

loanDepot Chairman Speaks at Marketplace Lending and Alternative Financing Summit

Anthony Hsieh of loanDepot shared his insights on the marketplace lending industry at the Marketplace Lending and Alternative Financing Summit; said technology would be the industry's main barrier to entry, an even greater factor than regulation; according to Hsieh, tech-enabled platforms with scale in the market will have an advantage as the outlook for new capital is uncertain. Source

Read Full Story

News Roundup Online Lending USA

·Aug. 3, 2017

loanDepot Opens the mello™ Innovation Lab

Leading non bank lender loanDepot opened the mello™ Innovation Lab where the tech team will continue working to expand their proprietary mello technology; in comments regarding the innovation lab, loanDepot CEO and Chairman Anthony Hsieh said: "Our lending professionals and LD tech team have combined strengths to create an unstoppable force in next-gen lending. Our never-ending, iterative innovation process is the basis of our business strategy and our true competitive advantage."; the mello technology is designed to make loan origination faster, easier and more accurate by integrating marketing tools and third party data; the digital experience is available to consumers, referral partners and lending professionals; this new lab is meant to foster innovation and allow the technology team to work in a unique environment that includes fun activities and nice weather. Source

Read Full Story

Fintech News Roundup USA

·Aug. 4, 2017

LPL’s Perspective on Wealth Management Innovation

LPL has increased their technology spending from $38 million in 2011 to $77 million in 2016; tech executives from the firm say that when it comes to wealth management, innovation firms, like Acorns, are better concepts for inspiration than for instance Betterment; company believes that micro transactions for savings are an important part of the younger generation's experience and the company is taking a generational approach to products to offer a customized product for each type of client; LPL is launching their new robot advice platform, Guided Wealth, this month. Source

Read Full Story

News Roundup Online Lending USA

·Mar. 2, 2017

Madden v. Midland Ruling in New York

The US District Court for the Southern District of New York issued a decision in Madden v. Midland Funding, LLC; in determining whether New York or Delaware law governed the contractual relationship of the parties, the judge ruled that applying Delaware law would violate usury policies in New York which limit interest to 25% per year. Source

Read Full Story

Fintech News Roundup USA

·Aug. 23, 2017

Mark Cuban Putting Support Behind Cryptocurrency Fund

Only a few months ago Mark Cuban was criticizing cryptocurrencies as a bubble, he is now backing a new fund; Runa Capital principal Nick Tomaino founded the fund 1confirmation, according to a filing with the Securities and Exchange Commission; "I think Nick is one of the sharpest minds in the space, and I'm a big believer that there will be transformational apps built on blockchain," Cuban told CoinDesk; the recent change in opinion by Cuban points to a trend from Wall Street that shows more traditional finance players accepting the value of cryptocurrencies; the fund will make $100,000 to $500,000 investments and focus exclusively on cryptocurrency assets. Source

Read Full Story

News Roundup Online Lending USA

·Mar. 6, 2017

loanDepot Launches Proprietary Digital Lending Platform, mello™

loanDepot has invested approximately $80 million in technology over the last 18 months and is announcing the launch of its proprietary digital lending platform, mello™; seeking to develop the fintech ecosystem of the future, the platform is beginning with three solutions: an intuitive web-based consumer portal, a state-of-the-art mobile point of sale system and a fully digital mortgage loan application experience; overall mello™ will be one of the fastest and most accurate lending systems in the industry; the firm has also opened a new 65,000 square foot mello™ tech campus in Irvine, CA to support the new platform. Source

Read Full Story

News Roundup Online Lending USA

·Mar. 6, 2017

LoanPaymentPro Introduces ZDA Technology

LoanPaymentPro will be exhibiting at LendIt USA 2017; at the event the firm will be launching an advanced form of its Zero-Dollar Authorization (ZDA) technology; the ZDA technology provides lenders with a system for bankcard validation and account verification; through use of ZDA technology lenders can significantly lower their risk of fraud and defaults. Source

Read Full Story

Fintech News Roundup USA

·Aug. 21, 2017

Machine Learning and Amazon’s Alexa for Financial Advice

Amazon has a number of clients using Alexa for financial advice and solutions architect Felix Candelario says, "Natural language processing is the new rocket science."; clients include UBS, LPL, Fidelity, Capital One and Betterment; overall, machine learning innovation is providing for new technology solutions and pairing it with voice automated interactions adds a new element of service for customers. Source

Read Full Story

News Roundup Online Lending USA

·Jan. 10, 2017

Marcus Open to All Borrowers

Online lending platform Marcus by Goldman Sachs is now open to all borrowers; the bank launched its lending platform in October 2016 for borrowers receiving an email code; like other marketplace lending platforms it offers low borrower interest rates; one of its leading advantages is that it offers no fees; Goldman Sachs will announce its fourth quarter earnings in January with insight expected on the new platform's business. Source

Read Full Story

News Roundup Online Lending USA

·Mar. 21, 2017

Marketplace Features the Marcus Online Lending Story

Marketplace provides insight on Goldman Sachs' new online lending business discussing the culture and variance from the traditional aspects of the investment bank; one reason for the divergence in culture is the company's focus on building Marcus as a tech startup within the bank; the investment bank's venture has gained considerable industry attention and also attracted talent from leading technology companies including Facebook and Google; it appears to be well positioned in the market with numerous competitive advantages supported by the legacy bank's 147 year history. Source

Read Full Story