The online lender said it applied insights from its partnership with Fifth Third Bancorp in developing a new digital platform it’s marketing to other large financial services companies. ... Read full article
Barclays, BMO, Citibank, Goldman Sachs and ING contributed to the online student lender, which last year made over $1 billion in loans. ... Read full article
The online student lender said it is reallocating some jobs and "sunsetting" others. ... Read full article
The online lender has acquired NextGenVest, which uses AI and text messaging to advise high school and college students about getting loans. CommonBond’s goal is to better understand the distinctly different demographic group rising behind millennials. ... Read full article
Cheap funding and marketing muscle could give it an advantage over existing lenders, but this corner of the market may not be big enough to move the needle for the bank. ... Read full article
Fintech firms have the federal option they have long sought, but meeting the agency’s application requirements will not be easy. ... Read full article
Fifth Third and First Republic are among the investors in the company’s $50 million equity round. ... Read full article
Introducing limits on federally guaranteed loans to graduate students, instead of letting them borrow whatever schools charge, would create a multibillion-dollar opportunity for private lenders. ... Read full article
The tighter spreads on the fintech student lender's latest securitization should help offset a rise in the underlying benchmark rates, keeping its funding costs low — and helping it compete more effectively. ... Read full article
In a Q&A, CommonBond CEO David Klein discusses how an OCC charter might benefit customers by lowering the cost to run a student loan refinancing business. ... Read full article
