CFPB Study Details the Rapid Growth of “Buy Now, Pay Later” Lending
- 3 years 6 months ago
- Lending
Today, the Consumer Financial Protection Bureau (CFPB) published a report offering key insights on the Buy Now, Pay Later industry. The report, Buy Now, Pay Later: Market trends and consumer impacts, finds that the industry grew rapidly during the pandemic, but borrowers may receive uneven disclosures and protections. The five firms surveyed in the report originated 180 million loans totalling over $24 billion in 2021, a near tenfold increase... more
Saudi Credit Bureau (SIMAH) Enables Millions More Consumers to Access Bank Loans After Introducing FICO Score
- 3 years 6 months ago
- Lending
The Saudi Credit Bureau (SIMAH), a leader in credit bureau information management in the Middle East and North Africa (MENA), has administered the successful rollout and adoption of the FICO® Score by lenders in the country, enabling millions more Saudi customers to receive loans from banks. This growth in financial inclusion was made possible by SIMAH’s advocacy efforts with financial institutions and a parallel education campaign with... more
Teslar Software Launches Indirect Lending Solution
- 3 years 6 months ago
- Lending
Teslar Software today announced the launch of its indirect lending solution, which empowers community financial institutions to offer indirect lending services to local businesses and consumers in a way that’s quick, efficient and digitally optimized. Joe Ehrhardt, CEO and founder of Teslar Software, demoed the solution Monday at FinovateFall in New York.
Banks Won’t Lend to Us, Say More than a Quarter of UK’s Businesses
- 3 years 6 months ago
- Lending
New research exposes the difficulties businesses face accessing finance from mainstream lenders and how alternative solutions can plug the gap. More than a quarter (26%) of business leaders surveyed have had difficulties accessing finance from main banks, over a third (38%) say that banks don’t understand their business needs and two in five (41%) think banks’ lending policies haven’t kept pace with modern business needs.
Digital Lending Platform mPokket launches #MyTeacherMyHero Campaign as an Ode to Unsung Gurus
- 3 years 7 months ago
- Lending
mPokket – India’s youngest and fastest-growing lending platform – launched its Teacher’s Day campaign, #MyTeacherMyHero, celebrating the contribution of teachers in shaping the future of students. The campaign captures the heroism of every teacher by being a guiding star for every student.
Lentra Ramps Up C-Suite with CFO and CHRO Appointments
- 3 years 7 months ago
- Lending
Lentra, the fastest growing enterprise SaaS company, empowering lenders with a digital lending ecosystem, today announced the appointment of Haribandhu Patra as the Chief Financial Officer (CFO) and Bhuvaneswar Naik as the Chief Human Resource Officer (CHRO). These appointments will enhance Lentra’s ability to rapidly scale-up operations and launch innovative technology platforms that empower banks and financial institutions to democratize... more
05/09 – Weekly Fintech Recap
- 3 years 7 months ago
- Lending, Open Banking, FinTech StartUps, M&A Deals, People Moves
Partnerships Leading cryptocurrency exchange Bybit delivers rapid fiat deposits across Europe with TrueLayer
Positive Change in the Philippines Pushes Financial Inclusion Forward
- 3 years 7 months ago
- Lending
Digital lending, savings deposits and mobile money are set to be the most promising FinTech sectors in the Philippines going forward, according to analysts from Robocash Group.
Atom Bank Accredited to the New Iteration of the Recovery Loan Scheme
- 3 years 7 months ago
- Lending
Atom bank, the UK’s first app-based bank, has been accredited to the latest iteration of the Recovery Loan Scheme (RLS) by the British Business Bank, and will soon be accepting applications on its award-winning secured lending products.
Highline and Argyle Partner to Increase Consumer Access to Credit, Reduce Risk for Lenders Through Payroll-Linked Lending
- 3 years 7 months ago
- Lending
To meet the needs of U.S. consumers who are normally shut out of affordable credit products, payments fintech Highline Technologies and employment data platform Argyle have partnered to bring payroll-linked lending and bill pay capabilities to lenders nationwide.
Aquila Launches LendTech Parent Company LendSuite Software
- 3 years 7 months ago
- Lending
Aquila announces the formation of LendSuite Software with three leading lend-tech companies under its umbrella, offering clients an unprecedented array of tailored solutions and services.
29/08 – Weekly Fintech Recap
- 3 years 7 months ago
- Artificial Intelligence, Lending, Open Banking, Personal Finance, IT Innovations, M&A Deals, People Moves
Partnerships Wearable Tech Pioneer DIGISEQ Partners with AdornPay to Bring Passive Wearable Payments to the Netherlands
FormFree and Finastra Partnership Streamlines Borrower Verification for Improved Mortgage Loan Processing
- 3 years 7 months ago
- Lending
Finastra and FormFree®, a market-leading fintech company that enables lenders to understand people’s true ability to pay (ATP®), have partnered to further streamline electronic borrower verification for mortgage lenders. FormFree’s AccountChek will integrate directly into Finastra’s Mortgagebot solutions to facilitate an automated asset, income and employment verification process that paves the way for faster loan decisioning.
Revolut Launches Consumer Loans in Romania
- 3 years 7 months ago
- Lending
UK-based fintech Revolut announced it will start giving consumer loans in Romania, its second biggest market worldwide. Revolut has over 2 million users in Romania, representing about 10% of its worldwide clients.
