Credit Sesame is the latest company to launch a digital banking offering; Sesame Cash aims to leverage data about a...
Kathryn Petralia, co-founder and head of operations of Kabbage talks about their SoftBank deal, tech partnerships, culture and more. Source
Prosper has announced a funding deal which has been in development since August; the firm has received an investment commitment for $5 billion over the next two years from a consortium of investors including affiliates of New Residential Investment Corp., Jefferies Group LLC, Third Point LLC and an entity of which Soros Fund Management LLC is the principal investment manager; the consortium is also being offered an equity stake which could account for as much as 35% ownership in the company and is expected to help promote a long term business relationship; the committed investment will represent a substantial increase for the firm which is likely to report approximately $2.2 billion in loan originations for 2016. Source
The Small Business Administration recently started contacting applicants who applied under the Economic Injury Disaster Loan program to inform them...
Zelle, the banking p2p payments app, saw an 84 percent jump in year over year growth with Bank of America; the app saw over 68 million transactions in 2017 through their Bank of America partnership; Zelle recently started a marketing campaign to provide more exposure to the brand as many users might not realize they are using Zelle since it is integrated with their banking app. Source.
PayPal’s CFO John Rainey said 11 percent of the company’s 60 million customer inquires could be automated; the types of...
Ram Ahluwalia is the CEO and co-founder of PeerIQ, a leading data analytics provider; lenders are facing incredible challenges and...
The Godfather of Fintech shares his thoughts on what rewirement means, what fintech needs today, where it is going and what excites him about the future. Source
SoFi recently partnered with WeWork to offer discounted student refinancing to WeWork employees and members; the move is part of a broader strategy for the company to move beyond their initial target market of alumni from top universities; offering student loan repayments as a workplace benefit is a new trend as companies look to help young employees get out from under the mountain of student debt; “The bigger story is that the student loan pay down as a benefit is a massive industry that hasn’t even got going yet — every Fortune 500 company is going to have this as a benefit in the next year or two,” said Peter Renton, analyst and founder of Lend Academy, to TearSheet. Source.
This year’s Geneva Report on the World Economy will cover the future of banking; it aims to consider how technology...