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Marketplace lenders have set themselves apart from banks by moving faster, but lending fraud might force them to revamp their authentication processes.
February 16
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Zeus Mortgage in Houston is positioning its new online crowdfunding platform as an alternative to traditional mortgages for property buyers and others having trouble borrowing to remodel homes or fund construction projects.
February 15
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Bond Street targets small businesses that might be able to qualify for a bank loan but are looking for a faster and easier approval process.
February 15
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Marketplace lenders have set themselves apart from banks by moving faster, but lending fraud might force them to revamp their authentication processes.
February 15 -
The San Francisco online lender reported a $32 million loss in the fourth quarter, which brought red ink for the full year to $146 million.
February 14
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Chicago-based Akouba will offer its origination and underwriting platform to ABA-member banks, which will receive preferred pricing.
February 13
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American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.
February 10
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The San Francisco-based online lender will soon begin selling refinanced student loans through Promontory’s member network.
February 8
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Easing regs without mulling the consequences could hurt the financial system, but a fintech charter and other careful reforms could promote innovation, Patrick Harker said.
February 6
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James Hobson is resigning to become the CEO of Attune, a new company in the commercial insurance sector.
February 3
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Hong Kong and Singapore have long been economic crossroads. China and India are economies with vast populations. And Shenzhen is bursting with innovative creativity. All of these contribute to the Asian fintech market being far ahead in adoption and ecosystem creation.
February 3
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The deal marks a milestone in SoFi’s evolution into a private bank for millennials, but it won’t solve the challenges of the alternative lender’s funding model.
February 3
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Arkadi Kuhlmann, the founder and CEO of the neobank Zenbanx who pioneered branchless banking at ING Direct, explains why he stopped pursuing a bank charter and made a deal with Social Finance.
February 1
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Usama Ashraf, the marketplace lender's new chief financial officer, will oversee finance activities and its capital markets function.
February 1 -
The acquisition should allow the San Francisco-based online lender SoFi to fulfill a long-standing goal: offering a deposit account to its young, upwardly mobile customers.
February 1
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Eastern Bank developed its own online lending platform to compete with the likes of Kabbage and OnDeck. It might now be able to cash in by licensing to other banks.
January 29
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If offering a national regulation option to fintech players is the carrot, compliance with commonsense borrower protections could be the stick in promoting responsible financial innovation.
January 29
Harvard Business School -
The banking trade group confirmed that it has run a formal bidding process to find a partner.
January 27 -
Guest host Sam Maule chats with American Banker reporter Lalita Clozel and others about the OCC fintech charter, smart home devices, virtual assistants, the security and compliance issues posed by Alexa, and more.
January 22 -
BorrowersFirst said its new financing will come from Waterfall Asset Management, a New York firm that focuses on high-yield investments.
January 19
