Pindrop’s Vijay Balasubramaniyan on how top bank call centers are navigating the COVID crisis The Timing Of Apple’s QR Code...
DecisionHawk seeks to provide a service for advising and educating small businesses on market financing options; the firm is led by entrepreneurs experienced in business owner consulting; they have released DecisionHawk, a software solution offering problem solving, education and collaboration; driven by big data analytics DecisionHawk can be used for a range of business decisions including: debt capital financing, equity capital financing, business insurance and business referrals. Source
The WSJ reports that the hack actually occurred in March instead of May; the breach wasn’t discovered until July 29th and it was announced to the public on September 7th. Source
Citigroup is looking for new ways to attract customers to their new online bank; the bank is looking into offering...
Manatt, Phelps & Phillips, LLP has released a report based on survey results from 75 executives and investors at banks, fintech companies and private equity firms; Lend Academy provides a summary of the report in their article; report focuses on the interest from regional and community banks in partnering with fintech companies; high interest from these banks since the partnerships can help them provide their services at a lower cost and also expand geographically; survey results find that the majority of regional and community banks are already engaged in partnerships with fintech firms. Source
Credible has announced a new partnership with New Hampshire Higher Education Loan Corporation (NHHELCO); company is a multi-lender focused on loans and refinancing for higher education; the new partnership will add another student loan refinancing option to the site; with the addition of NHHELCO the platform now has seven refinancing lenders; NHHELCO will offer its EDvestinU Consolidation Loan product which allows for consolidation of federal and private loans with a fixed or variable-rate refinancing loan that includes repayment terms ranging from 5 to 20 years; the EDvestinU Consolidation Loan product offers variable-rate loans with interest rates from 2.47% to 6.07% APR and fixed-rate loans with interest rates from 3.94% to 7.54% APR. Source
The American Bankers Association released their quarterly delinquency bulletin which shows steady delinquency rates at 1.56%; the 15-year average is 2.16%; Household debt hit a record $12.84 trillion in the second quarter with increases in automobile, mortgage and credit card debt. Source
Small Business Administration (SBA) loans are a popular source of funding for small businesses in the US; SmartBiz Loans is one of the online market's leading providers of these loans; Lend Academy talks with Evan Singer, CEO of SmartBiz, in their podcast; SmartBiz recently became the number one provider of SBA loans under $350,000, beating out big banks such as Wells Fargo for smaller dollar loans; Evan Singer talks about the firm's business and the origination process which involves a network of bank lenders. Source
South Africa based Discovery Bank is launching in a few months as the first behavioral bank, though the trend in...
This week’s PeerIQ Weekly Industry Update covers the Fed raising rates by 25 bps, Affirm’s big fundraising and securitization news; PNC announced their new lending pro cuts through their mobile wallet and anticipate it will outperform branch loans; Equifax completed their first Securitization, a $200mn deal backed by lender fee revenues; PeerIQ does a deep analysis on the Sharpe Ratio which helps to gauge risk-adjusted returns. Source.