Featured keynote speaker Richard Cordray from the US Consumer Financial Protection Bureau (CFPB) discussed the Bureau's fintech initiatives at LendIt USA; a video of the presentation can be found here; in prepared remarks Cordray discussed the Bureau's focus on both providers and consumers with three areas of special interest including: consumer-friendly innovations, consumers' control over their personal financial data and the use of alternative sources of data for underwriting loans; recent fintech innovation activity from the CFPB has primarily been centered around its Project Catalyst; on February 16 the CFPB also issued a request for information on the uses of alternative credit data with an open comment period until May 19. Source
The CEO and Co-Founder of TrueAccord discusses why a new data driven approach to debt collection is far more effective than traditional methods. Source
Consumers have plenty of options when it comes to financial services; despite the success of fintechs around the industry, some...
Payments company Venmo has grown significantly from its founding by Iqram Magdon-Ismail and Andrew Kortina; it was acquired for $26 million by payment processor Braintree and is now owned by PayPal after an $800 million acquisition in 2013; through acquisitions the firm's payment processes have evolved; in 2016 the firm transacted $18 billion; now as a PayPal company it has been plugged into PayPal's compliance infrastructure for tracking fraudulent payments and settlements; as a PayPal company it has also been able to offer new services and its executive team has been integrated with PayPal helping the company to develop new market positioning. Source
GreenSky is a point of sale lender which partners with merchants in a variety of verticals; they also work with...
The Federal Reserve said they will look to release the FedNow real-time payments system in stages starting in 2023 and...
GreenSky noted in their end of the year earnings call that their acquisition costs were among the best in the...
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Digital banking is becoming more important than ever during the pandemic and leading VC Andreessen Horowitz believes branches are not...
LendUp shared today that they had crossed $2 billion in consumer loans; since first beginning in 2012 they have provided...