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The fintech lender says its loans are meeting a need for people living paycheck to paycheck that the mainstream financial community is not, and that its loans cost far less than subprime credit cards or payday loans.
August 2 -
The London bank is working with Nova Credit to accept immigrants' credit histories from their home countries. It also invested $10 million in the company.
September 28 -
Many previously unbanked consumers are flocking to the banks that provide accounts with no overdraft or debit card fees and minimum opening balances of $25, according to a new report from the St. Louis Fed.
December 28 -
A few changes to underwriting rules could result in a huge opportunity for both lenders and minority women who own businesses.
December 13CNote -
Formerly incarcerated people have long faced barriers to entering the mainstream financial system. Banks such as Old National and Bank of Hawaii are taking steps to help them, but the industry can do more, according to a new white paper from the American Bankers Association Foundation.
December 1 -
Finance that relies on smartphones and smart contracts can lower costs for banking services and promote financial inclusion, proponents say. But a look at who is using the technology tells a different story.
August 24 -
Fintechs and banks have stepped up their efforts to help so-called “credit invisibles” obtain credit through secured cards, specialized installment loans and use of alternative data in underwriting. Amid much progress, questions remain about how effective these tools really are.
August 22 -
Stored-value cards are growing in popularity with underbanked gig workers who need an easier way to get paid as well as with younger consumers in Canada who have traditional bank accounts but prefer the cards for e-commerce transactions.
August 3