British regulators are touting the success of their so-called regulatory sandbox. Their American counterparts have been unable to agree on a comprehensive scheme to foster innovation.
Martin Chavez reminded analysts Tuesday that while the Wall Street firm may be new consumer lending, the executives leading the unit are all veterans of the sector.
Minorities are more likely to turn to a financial technology firm than a bank when seeking a business loan, but they may pay higher interest rates, according to the preliminary results of a congressional investigation released Monday.
With issuance of marketplace securitizations now exploding — rising 300% cumulatively in the past two years — the idea of online lending as a niche is quickly deteriorating.
Small-business credit is poised for a shakeout. In the coming months, partnerships between banks and fintechs will increase, and credit models will be refined.
Banks that find true innovation hard to accomplish can take heart — it’s no picnic for startups either. To hear both sides share their challenges is an argument for collaboration.
Acting Comptroller of the Currency Keith Noreika on Monday gave a ringing endorsement to online lenders seeking to expand into banking, suggesting they should consider taking deposits and seek out national bank charters as they mature.
China’s crackdown on cryptocurrency exchanges raises questions about the future of digital asset innovation, a movement that some bankers view as a threat and others embrace as a boon to payments, P-to-P lending and other activities.
LendingPoint, which caters to borrowers with damaged credit records, believes that traditional credit scores are overly pessimistic about the likelihood that certain borrowers will repay.
