Alternative credit data company VerumView has developed a product primarily focused on capturing data surrounding an end-user's email; it's built on an API-based know your customer service (KYC) and helps to provide credit decisions on thin file borrowers; the system can service the following: identity verification, fraud detection, KYC, anti-money laundering, TF prevention, loan and insurance underwriting, credit and affordability scoring, competitive analysis and targeted marketing. Source
OakNorth’s latest partnership is similar to the one recently announced with Customers Bancorp; under the partnership, OakNorth will assist in...
Crain's talked with JPMorgan CEO Jamie Dimon this week as he toured the Midwest, meeting with bank employees; Dimon discussed the credit market; also gave his perspective on online lending, noting some of the risks from depending on investor capital versus bank capital. Source
As financial services continues to become more digital there are a number of lessons they can take from leading companies...
Small banks have faced a lot of headwinds in recent years with big bank competitors accelerating their massive budgets and...
All of the leading online lenders are struggling as the economic crisis continues to get worse; many have cut originations...
Uber is working towards offering more financial products hiring dozens of employees in New York; sources say that the team...
Last week the government passed the CARES Act which included $349 billion in loan guarantees for small businesses; we also...
LendingOne has launched a lending system for fix and flip lenders in the real estate industry; according to the firm's press release, the platform provides originators with advanced technology to streamline all aspects of the loan-underwriting, closing and servicing processes; with the launch, private lenders can now utilize the LendingOne system to offer more competitive pricing for borrowers; through the system lenders can also subordinate a portion of fix and flip real estate loans. Source
JPMorgan Chase is the only U.S. bank with scalable businesses in every payments vertical; the bank has been investing and partnering heavily the last few years into payments innovation; they see checking accounts as checking and payments accounts; they have made moves into digital wallets, p2p payments, order and pay ahead apps and recently partnered to allow customers to send an receive electronic payments and invoices; the bank sees payments and banking as one in the same and with the recent news of their heavy tech investment for 2018 more innovation looks to be on the way. Source.