Venio Expands Offering Nationwide Across the Philippines
Venio, the mobile application providing "nano-credit" facilities to unbanked consumers in emerging markets accessed via a smartphone, has expanded its services nationwide across the Philippines on the back of successful metro launches across Mega Manila, Cebu and Davao. Venio has also continued its Local Convenience Store and Merchant acquisitions into six new municipalities within the capital Metro Manila, bringing the app to full nationwide... more
White Oak Selects Provenir Cloud to Power Business Lending
Provenir, a global leader in risk decisioning and data analytics software, announced today that White Oak has chosen Provenir Cloud technology to support its digitization and innovation strategy, accelerating a move to a fully automated origination process across its business loans and asset finance products.
Barclays and Propel to Provide SMEs With Speedy Access to Asset Finance
- 4 years 7 months ago
- Covid-19, Lending, Asset Management, Banking
Barclays Business Banking has announced that it will be the first High Street bank to partner with Propel, a specialist asset finance provider, to offer equipment and vehicle finance via an online platform to one million of their small and medium sized (SME) customers.
Profitability and Work Within Financial Group Help P2P Platforms Overcome the Crisis
A recent study conducted by the European P2P lending platform Robo.cash has named positive profits in 2019 and work with affiliated loan originators as the 2 key factors for P2P platforms’ success during the crisis. Remarkably, interest rates, funding volumes and the platforms’ experience do not play big roles here.
Masthaven Reveals Value to Its Lending Services for Business During Pandemic
As the UK marks six months since the country went into lockdown, Masthaven Bank has today revealed the extent of its support for its intermediary partners and customers throughout the COVID-19 crisis. Since March, the specialist lender has paid £1.4m in commission to its intermediary partners, providing vital financial support to these individuals and businesses.
ClearBank and Tide Granted £25M to Help UK SMEs Recover From Pandemic
- 4 years 7 months ago
- Covid-19, Lending, Investment, Banking
ClearBank, the cloud-native clearing bank, in partnership with Tide, the UK’s leading business banking platform [1], have been awarded £25m to help UK SMEs turn recovery from the coronavirus crisis into a growth opportunity. The funding will be used to provide financial support and products to help SMEs address the challenges they will face in the post-coronavirus and post-Brexit economic environment and to seize on the opportunities that come... more
Universal Digital Lending Platform by Nets and OpenWay Recognized as “Best Consumer Payments Initiative”
Nets, one of Europe’s leading processors, and OpenWay, a top-ranked digital payments software provider, have won the “Best Consumer Payments Initiative” award from Paytech for their Universal Digital Lending Platform (UDLP).
Financing Platform Marco Raises $26M to Support SMEs in Latin America
- 4 years 7 months ago
- Lending, Investment
Marco Financial—the first tech-enabled financing platform built for small and medium-sized Latin American exporters — announced it has secured $26M in funding and credit that will enable the company to address the $1.5T global trade finance gap that disproportionately impacts small-and medium-sized (SME) businesses. Marco supports SMEs based in Latin America, where a $350 billion trade finance gap blocks many exporters from the U.S. market.
Mortgage Brain Announces New Criteria Live on Criteria Hub
- 4 years 7 months ago
- Lending
Brokers using Criteria Hub can now search across a host of new criteria on the market-leading criteria-based sourcing system from mortgage technology expert Mortgage Brain. Over recent weeks a wide range of new criteria have been uploaded onto Criteria Hub, based on both the firm’s own research and feedback from advisers. The new criteria have all now gone live, after lenders completed the process of supplying the relevant information, opening... more
Paragon Bank to Adopt TruNarrative RegTech Platform to Power Bounce-Back Loans Initiative
Paragon Bank has procured business onboarding and automated due diligence technology services from RegTech firm, TruNarrative. The decision follows Paragon Bank’s recent approval from the British Business Bank, enabling Paragon to deliver bounce back loans to SMEs coping with the Covid-19 economic situation.
Demand of P2P Investors for Long-Term Loans Doubles Since June
- 4 years 7 months ago
- Lending, Investment
The European P2P lending platform Robo.cash has found that the demand of investors for long-term loans offered by its Singaporean loan originator is rising. In August, the platform’s users funded €1.5 mln of these loans, which is twice as much as in June. This might mark a new trend among P2P investors.
Mortgage Lender Specialist Aldermore to Adopt the DPR Distribution Hub
DPR, the provider of savings and lending origination and servicing solutions, has announced Aldermore as the latest partner to adopt the DPR Distribution Hub. The hub securely transfers product and customer data through APIs to enable third-party intermediary distribution providers such as product sourcing and CRM systems, to integrate seamlessly into Aldermore’s mortgage application process.
TrackStar Launches AI Software to Make Lending More Accurate
- 4 years 7 months ago
- Lending
TrackStar.ai, a company led by credit industry veterans that specializes in predictive credit technology, today announced the launch of a new proprietary, predictive API designed to help lending institutions determine consumer lending potential. By utilizing this first-of-its-kind API, lenders are able to make better decisions about qualifying current and prior loan applicants. The result is lower acquisition costs and churn, all while reducing... more
Ebury and MarketFinance Partner to Accelerate CBILS Access Ahead of September Deadline
As the Government’s CBILS initiative draws to a close this month, two British fintechs Ebury and MarketFinance, have joined forces to ensure SMEs across the UK are able to quickly access the emergency lending. MarketFinance will offer both its CBILS loans and revolving credit facilities to Ebury’s UK SME base to support them with their business finance needs.
Bluestone Urges Brokers to Support “non-Standard” Consumers and Respond to FCA’s Call for Input on Open Finance
- 4 years 7 months ago
- Lending
Bluestone Mortgages today warns that the needs of “non-standard” customers could end up being excluded from the development of open finance if advisers do not respond to the FCA’s Call for Input by next month.
