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.
The online lender's recent completion of a $700 million securitization provided Jonathan Ebinger at BlueRun Ventures an opportunity to reflect on what he has learned about the power of alternative data.
The bank is pledging to lend another $2 billion in a market where it has invested $3.6 billion in various community development initiatives since 2016. Most of the new funds will be used to make loans to small businesses that operate in low- and moderate-income neighborhoods.
Regional and community banks are working to finance the economic development districts created by the new law. But they have lots of questions about how the program works — and thoughts on how to improve it.
