Alternative lending

Alternative lenders try to fill void left by shutdown


The tricky part: raising awareness without appearing to take advantage of borrowers at a time when agencies like the SBA are out of commission.


Smartphone brand can reflect creditworthiness: FDIC study


A paper released by the agency’s Center for Financial Research says aspects of someone’s digital footprint — including whether they use Apple or Android — help predict likelihood of default.


Bill to enhance poor credit scores will backfire, critics say


Allowing alternative data such as rent and utility payments has bipartisan support, but some say it could create more problems than it solves.


Small-business loan approvals rise as unemployment falls


Approval rates for small-business loan applications were up at small and larger financial institutions as the labor market continued to improve.


To fuel digital currencies, crypto-lender finances sales of mining gear


Cereal is looking at the aspects of the market that could be considered the most stable. By encouraging more mining activity, Cereal also promotes the viability of the cryptocurrencies being mined.


Lenders to crowdfunding-reliant firms face steep hurdles


For one California bank, the biggest challenge was finding equity investors to participate in deals.


Will dropping tax lien data from credit reporting lead to bad loans?


Some fear that the removal of such data from individual credit reports could lead lenders to believe a consumer is a better bet than they really are.


This lender is using AI to make loans through social media


The digitally savvy lender MyBucks, which has lent money through a smartphone app and chatbots on WhatsApp and Facebook Messenger, could be a good role model for U.S. banks thinking of using AI in credit decisions.


BankMobile deploys AI, alternative data to lend to FICO-poor students


BankMobile, the digital-only subsidiary of Customers Bank in Wyomissing, Pa., is planning to use software by Upstart to offer its first credit product to the students it reaches through relationships with 800 universities.


Bitcoin surge spawns startup lenders willing to accept crypto-collateral


Lenders on the fringe of the financial industry are now pitching a solution to bitcoin investors in need of funds but wary of cashing in: loans using a digital hoard as collateral.