4finance Holding S.A. (the “Group”), one of Europe’s largest online and mobile consumer lending groups, has completed the purchase of TBI Bank EAD through the acquisition of 100% of TBIF Financial Services B.V. (“TBI” or the “Bank”) from its parent company, Kardan N.V., following receipt of all regulatory approvals.

The total consideration comprises a sum of approximately EUR 69 million, which was paid on closing, plus an adjustment to be paid based on the reviewed results of the acquired assets since 1 January 2016.

OnDeck® announced the appointment of Gagan Kanjlia as Senior Vice President of Product. In the new role, Kanjlia will lead product design and channel management and oversee strategic business initiatives as OnDeck continues its focus on providing small businesses a complete credit solution, delivered simply online, with outstanding customer service.

CIT Group Inc, a leading provider of commercial lending and leasing services, today announced that CIT Commercial Services appointed Darrin Beer as Western Regional Sales and Portfolio Manager. In this role, Beer will lead CIT Commercial Services activities in the Western United States. He will continue to be based in Los Angeles and report to Marc Heller, President of CIT Commercial Services.

Treliant Risk Advisors is pleased to announce that Scott Fisher has joined the firm as Managing Director, Chief Revenue and Strategy Officer. Scott brings to the firm a depth of knowledge and range of skills developed over 30 years in executive positions at major US banks, including First Niagara Financial Group and Wachovia National Bank. At Treliant, Scott will direct sales strategy and business development.

Monroe Capital LLC today announced an increase in the credit facility to Cal Net Technology Group (“Cal Net”) to support the acquisition of inhouseIT, Inc. (“inhouseIT”). Cal Net is a portfolio company of Boathouse Capital and Olympic Valley Capital.

FIS™, a global leader in financial services technology, today announced the completion of an amendment and restatement of its existing credit agreement and an amendment of its existing term loan agreement.

In the spirit of innovation and value creation, KKR, a leading global investment firm, today announced the launch of the Eco-Innovation Award for KKR portfolio companies as part of the Firm’s Green Solutions Platform(GSP), a global effort to identify, supp

FICO’s latest consumer research on why people switch banks found that Millennials (25-34 years-old), a group at the peak of financial services usage, are 2 to 3 times more likely to close all accounts with their primary financial institution than people in other age groups.

The same demographic said they are twice as likely to close all accounts and switch banks this year than they were last year. This could drive a high amount of customer churn, as this age group holds 6.27 financial products on average, compared to 5.79 for the entire US adult population.

Even though studies are showing that an increasing number of users are giving the mobile wallet technology a try, only a few are reported to be using it on a continuous basis. Consumers say their top two reasons for not regularly using their mobile wallet are either that they forget to do so (the question of value) or that they are uncertain as to which merchants will accept the payment.