Fintech
The online lender approved Black applicants at lower rates than non-Hispanic whites, according to a law firm that monitors its artificial intelligence models. Upstart said it's an industry leader in fair lending but acknowledged room for improvement, calling disparities "an industry-wide challenge."
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The founding CEO of PayPal and former CEO of Intuit plans to launch Nirvana Money next month. It will combine basic banking with an alternative to a secured card that evolves into a normal credit card.
September 20 -
Regulators are starting to look at bank-fintech partnerships as a source of systemic risk, but the real problem is the lack of consistent prudential rules outside of banking.
September 13
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AB - TechnologyRegulators have been sending out warning signals about the partnerships between banks and fintechs. Does this mean banks and fintechs have to change what they're doing?
September 13 -
AB - TechnologyThe three challenger banks have defied the odds and created business models that have made them net positive in a market where fewer than 5% of startups are making money.
September 12 -
Singapore country head Shee Tse Koon describes the bank's push to create a massive marketplace that offers everything from hotel reservations to health care.
September 8 -
After the Office of the Comptroller of the Currency cracked down on a $2.8 billion-asset bank, industry observers expect more scrutiny of the ties between banks and financial technology startups.
September 6 -
Technology designed to direct more consumers online can create difficulties for groups that rely on branches and other in-person services, according to Janis Bowdler, a racial equity counselor with the Treasury Department.
September 6 -
AB - TechnologyThe company told consumers they were pre-approved for credit cards. For some such offers, a third of applicants were denied, according to the FTC.
September 2 -
Marcus and Upstart are two companies that got high marks for customer satisfaction from J.D. Power but rely on digital methods to reach and underwrite borrowers.
September 1
