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USA

·Feb. 5, 2020

Kabbage Offering Extremely Short Duration Loans from Three to Forty-Five Days

Kabbage’s latest product offering is available for Kabbage Payments customers; loans are available for as short as 3 days and...

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Fintech News Roundup USA

·Mar. 13, 2018

Clinc Launches New Self Service platform for Banks

Conversational AI provider Clinc has launched a new self service platform for banks called Spotlight; Spotlight will help financial institutions train and deploy conversational AI at their firms; the platform is available in more than 80 languages and can be integrated into contact centers, mobile apps, Alexa, Google and Facebook Messenger; they are already working with USAA and Isbank in Turkey. Source.

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Fintech USA

·Jul. 31, 2020

Circle Scores $25mn and a Partnership with Genesis

Blockchain-based money transfer platform Circle has secured $25mn from Digital Currency Group; the firm also struck a partnership with Genesis,...

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News Roundup Online Lending USA

·Apr. 14, 2017

Marathon Partners Sends Letter to OnDeck Board Outlining Suggested Changes

In a letter to the board at OnDeck, Marathon Partners has outlined changes they want to see enacted; Marathon believes OnDeck has put a premium on growing their originations instead of getting costs under control and growing shareholder value; additionally they have been disappointed with OnDeck's corporate governance and executive compensation practices; the private equity firm recommends the lender cut costs to get them under control and seek the sale of the company to a stable partner. Source

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Fintech News Roundup USA

·Mar. 5, 2020

LendingClub Must Pass a High Bar for Regulatory Approval

LendingClub made big headlines with their acquisition announcement of Radius Bank and now the hard work begins as the company...

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News Roundup Online Lending USA

·Dec. 19, 2016

Prosper’s November 2016 Performance Update

Estimated return on loan production in November 2016 was 6.58%, which is down from the previous three months; Prosper attributes its revised pricing and credit market trends overall to the month's weaker performance; the average FICO score in November was 714.2 which is approximately 10 points above the FICO scores in 2015 vintages; cumulative charge-offs are trending higher in 2015 and 2016 than 2013 and 2014; higher pricing is also a factor potentially affecting prepayment rates which are higher for loans originated in 2016. Source

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Fintech News Roundup USA

·Aug. 8, 2017

Automatic Savings: A Key to Financial Wellness

Over 50% of Americans can not afford an unexpected expense of $400; at LendIt USA 2017 we hosted a fireside chat focused on helping Americans save; a key area that companies look at is an individual's spending as a way to help change their behavior to save more; round up from the everyday coffee you buy or set goals through your lifestyle; each way can help individuals to better set aside money when needed, as well as invest for the future; technology today allows for companies to better help individuals who thought they were left out of the investment community; the chat also focused on why they believe as a startup they can help to solve the financial inclusion question as opposed to the incumbent banks; the discussion also touched on the future of their businesses, current partnerships with top consumer brands and potential add ons for their current product offerings. Source