The online lender is counting on other arrangements with banks — and perhaps even a bank charter of its own — to help recover from the loss of a key partnership.
The findings of a new survey suggest that banks risk becoming irrelevant unless they match the speedier processes that are a key selling point for online lenders.
Neptune Financial, an online business lender, will help the global bank reach commercial customers it was missing before and could ultimately be a $1.5 trillion opportunity, an HSBC executive says.
Spring Labs is spearheading a group of prominent fintech lenders to use a blockchain-based, peer-to-peer network to share consumer information to help with ID verification on loan applications.