Emmalyn Shaw is one of the managing partners at Flourish, a rebrand of the venture arm of Omidyar Network. Flourish...
Fintech lenders are hoping their participation in the Paycheck Protection Program will lead to working with the Small Business Administration...
CNBC talks with Eyal Lifshitz of Bluevine who says fallouts from public companies have affected valuation discussions noting that investors are more skeptical now after struggles from Lending Club and OnDeck; Lifshitz expects companies will drop out of the market and Schwark Satyavolu, general partner at Trinity Ventures, says the industry is likely to see more acquisitions and consolidation. Source
Banking is continuing to evolve and there has been a trend to talk about how the challenger banks will take...
Fintech and adtech startup Fluid announced a strategic partnership with Nomad Credit, a financial marketplace for international students in the US; the partnership looks to offer better credit options to this underserved market; together the companies will deliver better financial literacy, credit building tools and more cost effective financial products; Timothy Li, CEO of Fluid, said, "I am very pleased to work with the leadership at Nomad Credit to deliver financial products and credit education to over 1,000,000 international students studying here in America." Source
Kabbage is now accepting applications from small businesses under the Paycheck Protection Program (PPP); Kabbage recently stopped lending on March...
Beneficial has long used personal touch in banking, with a new age of banking upon us the bank is looking...
Loan servicing company Navient has marketed support for student loan borrowers as part of its customer service strategy however its defense to a court case says the opposite; the company is being sued by the Consumer Financial Protection Bureau (CFPB) for not instituting customer service that matches its customer commitments; the CFPB's main argument is that Navient did not take into account the best interest of borrowers, specifically directing struggling borrowers into payment plans versus capped payment solutions because of the time intensive registration of the latter option; Navient blames a lack of compensation from clients such as the US Education Department for the company's service constraints; the Education Department finds no merit in Navient's defense and the CFPB has data that estimates Navient's service caused borrowers to pay an additional $4 billion in interest charges; Navient has evidence citing a significant number of borrowers in income-repayment plans and has solid arguments including that the federal law does not require servicers to counsel customers on their repayment options. Source
LendingHome will now offer an online mortgage product for consumers; LendingHome was launched in 2014 and has been funding short-term bridge and rental loans for property investors; the platform has funded over $1 billion in loans; features of the product include: an automated process, real time rates, loan guidance and real estate agent connectivity. Source
Mike Cagney is one of the most successful fintech entrepreneurs with his founding of SoFi and now Figure; Cagney sat...