TD Bank has signed a partnership agreement with nCino to digitize the bank’s corporate and commercial lending; the nCIno technology will allow for quicker lending decisions and more transparency; nCino’s Bank Operating system features CRM, loan origination, account opening, workflow, content management, business process management, customer engagement, and instant reporting all on a single platform according to Banking Technology. Source.
Regulators around the globe are trying to keep up with innovation happening in fintech, though the US is in danger of falling behind. Congress needs to move beyond fixing small pieces of legislation and find a better way to encourage innovation. Source.
DoorDash is looking to aggressively expand their recruitment for new drivers and recently struck a partnership with fintech Acorns; DoorDash...
Chapman and Cutler provide insight on regulation in marketplace lending in their annual survey publication titled, "The Regulation of Marketplace Lending: A Summary of the Principal Issues"; covers a wide range of marketplace lending regulatory aspects for consideration; includes court case rulings and government involvement; also provides details on the status of marketplace loans as securities, applicable securities laws and more. Source
As financial services continues to become more digital there are a number of lessons they can take from leading companies...
Square has unveiled a fully fledged online storefront for its sellers signifying its first major foray into e-commerce; until now...
A new report by economic research firm NDP Analytics sponsored by the Electronic Transactions Association, the Innovative Lending Platform Association...
Yapily offers an open banking API that serves all sorts of enterprises including financial service providers, merchants, accountancy firms, payments...
Leaders at the Federal Reserve, the OCC and the CFPB spoke at the Consumer Bankers Association annual conference about the need to be more flexible when applying oversight to bank & fintech partnerships; “We need to do a better job of educating our supervision staff, in some cases, in terms of interpretation of the guidance,” said Dan Quan, who leads the CFPB’s Project Catalyst, as reported by American Banker; they also talked about better coordination to ensure consistency in oversight. Source.
It has been fascinating to watch both the banks and fintechs react to the coronavirus; many fintechs have created side...