Backed by PayPal founder Max Levchin, new challenger bank HMBradley launches Biz2Credit Introduces Biz2X Accelerate SBA Platform For Banks &...
An opinion piece in American Banker highlights the challenges the marketplace lending industry faced in 2016; Alenka Grealish, a senior analyst at Celent believes that we will see consolidation and more partnerships in the remainder of 2017 and into 2018; discusses the advantages and challenges both fintechs and banks have and what may happen in a downturn. Source
A new survey of 175 banks by UBS shows that larger banks like JPMorgan Chase and Bank of America invest...
Quoting data from Transunion the Wall Street Journal is reporting that 106 million loans have been enrolled in forbearance, deferment...
US banks closed more than 2,000 bank branches in 2017, an 18 percent increase form the year earlier; Wells Fargo is one of the leading banks as they closed 194 branches and plan to close more than 800 more by 2020; other banks like Citizens Financial is reducing square footage at branches but not closing as many; Banking Technology lists the top 10 banks by branch closures. Source.
The SEC is suing Direct Lending for inflating returns by about 2 to 3% per year according to Bloomberg; the...
According to the Wall Street Journal, E*Trade has five million retail customers including $360 billion in assets; Morgan Stanley will...
Morgan Stanley CEO James Gorman said he thinks bitcoin is “certainly something more than just a fad,” according to a Bloomberg report; he also stated that the concept of anonymous currency is interesting because of the privacy it provides; while he has yet to invest in the technology he does see more regulatory control coming soon. Source.
After completing a 16 month pilot program Morgan Stanley has announced their robo advisor Morgan Stanley Access Investing; there is a $5,000 minimum with a 0.35 percent fee and they will offer 11 portfolios, including a socially responsible option; the goal of the new service is to offer current clients’ children a better, more affordable wealth management option. Source.
Morgan Stanley knows how important data is to the core of their business and in 2018 they created the data...