According to a New York Federal Reserve report, online mortgage lenders approve loans faster, experience fewer defaults and encourage more refinancing; not surprisingly they are also able to respond to customers as demands shift; the report studied banks and fintechs to better understand the market; lending from fintechs has grown by 30% annually since 2010, from $34 billion to $161 billion, representing 8% of the market. Source
The New York Times reports that the parent company of the New York Stock Exchange, Intercontinental Exchange or ICE, has...
The New York Department of Financial Services continues to thoroughly investigate the business practices of online lenders; a proposal is in process that would require increased regulation for online lenders; specifically new regulations would be instituted for all lenders making personal loans of $25,000 or less and business loans of $50,000 or less and would also apply to online lenders involved in soliciting loans and buying loans. Source
Core systems provider Nymbus has created their SmartLaunch product for banks to launch a digital version in as little as...
The New York Stock Exchange, operated by Intercontinental Exchange, has decided to go all digital and close the trading floor...
OakNorth’s latest partnership is similar to the one recently announced with Customers Bancorp; under the partnership, OakNorth will assist in...
OakNorth Bank has taken the top spot on the FT’s annual list of the 1,000 fastest growing companies in Europe;...
One of the UK’s hottest startups in the digital banking space is now bring their technology to the U.S. banking...
For the second time in the last few months OakNorth CEO Rishi Khosla said he was open to making an...
With a backlog in the US Senate Obama’s last FDIC Chair Martin Gruenberg is still in office 5 months after...