OnDeck released their third quarter financial results today; originations were up 14% from the previous quarter to $531 million; firm plans for GAAP profitability in the fourth quarter and hinted at a new bank partnership for 2018. Source
Lend Academy talks with John Donovan from Bizfi in their podcast; Bizfi provides balance sheet lending for merchant cash advances and also operates a multi-lender platform giving small businesses multiple loan funding options; Donovan talks about his career in online lending which began at Lending Club; he also discusses the dynamics of Bizfi's two business lines and some of the company's plans for the future. Source
A new report by JPMorgan says they don’t believe blockchain technology will be transformative for the global payments system and...
The current crisis has highlighted some of the key areas where banks fall short with their customers; while writing in...
American Banker puts together a slideshow on the key trends in digital banking; some of the trends include more customers using digital payments, digital banking adoption is increasing globally, consumers are not happy with PFM options offered by banks and overall banks are still highly trusted for managing money. Source.
Yesterday the House overwhelmingly passed a relief bill that, among other things, will provide a much needed top up of...
The alternative finance market was hit hard when most of the country when into lockdown around mid March; some companies...
Data from American Express, Synchrony Financial, Ally and Santander show that while debt levels might be at their highest level...
Speaking with American Banker the former Comptroller of the Currency, Eugene Ludwig, says that because non-bank lenders are considerably larger...
Due to the high demand in awards submissions we are extending the deadline to submit until Friday, February 15th; One...