Marketplace lending

Why a founding architect of direct banking is selling to a nonbank

02/01/17

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.

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Prosper hires former USAA exec in quest to reignite growth

02/01/17

Usama Ashraf, the marketplace lender's new chief financial officer, will oversee finance activities and its capital markets function.

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SoFi-Zenbanx deal accelerates fintech convergence trend

02/01/17

The acquisition should allow the San Francisco-based online lender to fulfill a long-standing goal: offering a deposit account to its young, upwardly mobile customers.

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How this bank keeps small-business clients away from online lenders

01/29/17

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.

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Fintech charter should be paired with beefed-up borrower protections

01/29/17

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.

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ABA looks for a marketplace lender to partner with its members

01/27/17

The banking trade group confirmed that it has run a formal bidding process to find a partner.

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Breaking Banks: Why bankers aren’t quite ready for Amazon Alexa

01/22/17

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.

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$100M in debt financing for Texas-based online lender

01/19/17

BorrowersFirst said its new financing will come from Waterfall Asset Management, a New York firm that focuses on high-yield investments.

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Wells not doing so … well; bitcoin as nest egg?

01/17/17

Wells Fargo faces an economic environment that may not be particularly suited for the way the bank is structured. Also: are you brave enough to make bitcoin a part of your retirement portfolio?

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Mortgages taking center stage at online lender SoFi

01/17/17

The startup, known for refinancing millennials' student loans, is now writing more than $100 million of home mortgages a month, and expects this to be its fastest-growing product. Here's why.

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