Crowdfund Insider talks with Ron Suber about Prosper and marketplace lending in 2016; in 2016 the firm reported decreased investment and transaction fee revenue which led to a number of new initiatives and changes; in his comments Ron Suber cited the importance of being adaptable to change; he also talked about the investment opportunity from institutional investors and the importance of securitization and a secondary market; for 2017 he expects rapid changes for the industry to continue and hopes that as the industry evolves it will result in more opportunities for borrowers, online lending platforms and the ecosystem. Source
Apple, Google and now Samsung have all entered into the financial services space in a bid to provide a better...
The Debt Exchange notes how US regulators are flagging some concern with commercial real estate investment concentrations, even as pricing shows steady demand for properties; regulators are finding bank ratios of commercial real estate loans to total risk-based-capital are approaching 300% in certain property markets (300% is possible through leverage) and loan-to-deposit ratios are approaching 100%, both flags on the risk side; the article notes that loan sales, to private investors as well as through securitizations, are an effective way to reduce these ratios. Source
According to 2017 data from the FDIC 47 percent of Black Americans were underbanked, compared to 20 percent of white...
American Banker’s Penny Crossman volunteered as a mentor for Barclays New York Accelerator and found that succeeding as a fintech startup is quite a challenge; she was tasked with helping entrepreneurs deal with the media, she found that most were looking to be featured in the WSJ or FT; she also sat down with Jon Zanoff, managing director, recruiter and top coach of the program to discuss the program; interesting tidbits from the interview include 4 of 9 company founders are female, the program is a lot more in depth than other bank accelerators and the challenge the program presents on a daily basis. Source.
While most of the fintech world has been focused on small businesses since the onset of the crisis there is...
AutoGravity has added First Investors Financial Services to its car loan financing network; AutoGravity has developed an app that allows car buyers to choose a car online and receive four financing offers; the addition of First Investors Financial Services will broaden the available financing options for users. Source
Lighter Capital provides funding for growing businesses with a revenue-based financing model; their borrowers repay the loans out of future...
The main lobbying group for banks, the Consumer Bankers Association, is trying to get the government to add caps on how much graduate students and parents of undergraduates can borrow from the government; caps would force people to go to private lenders and would benefit those with better credit histories; there is also a group of investors trying to get clearer legislation passed for income sharing agreements; changes could result in billions of dollars worth of opportunities for banks and investors as the most recent academic year totaled $107bn. Source.
According to the 2020 Mobile Deposit Benchmark Report by Cornerstone Advisors JPMorgan Chase ranked as the best experience; 54 percent...