Search Results for: digital lending

July 21, 2024 @ 7:07 pm By Omar Faridi  |  

FIS (NYSE: FIS), a global firm focused on financial technology, announced the launch of its new SMB Digital Lending solution. Created in partnership with Lendio, the nation’s small business financial solutions technology platform, the solution aims to “reduce the barriers to funding for small and… Read More

July 13, 2024 @ 6:29 am By Michael Wong  |  

Bangladesh’s BRAC Bank has achieved a significant milestone in digital lending in the country by providing over 12,000 digital instant loans, amounting to more than BDT 1 billion (100 crore), within a year of its soft launch. The bank’s Digital Instant Loan facility, recognized as… Read More

June 8, 2024 @ 6:34 pm By Michael Wong  |  

Filipinos’ reliance on digital financial services intensified in 2023, with users spending a cumulative 1.3 billion seconds, or 42 years, on digital lending applications, marking a 37-percent surge from the previous year, a report by consumer credit service Digido revealed. According to the study, personal… Read More

May 11, 2024 @ 7:20 pm By Michael Wong  |  

Mongolia’s first digitally focused bank M bank has secured $30 million in financing from the International Finance Corporation (IFC) provide digital lending to women and small and medium enterprises (SMEs). In a collaborative effort to bolster the Mongolian financial sector, IFC and M bank are… Read More

May 5, 2024 @ 9:17 pm By Michael Wong  |  

The Reserve Bank of India (RBI) has officially lifted restrictions on two digital lending products of Bajaj Finance, nearly six months after imposing curbs due to non-compliance with its digital lending guidelines. The announcement, made in a regulatory filing by Bajaj Finance, noted that effective… Read More

April 26, 2024 @ 5:20 pm By Michael Wong  |  

The Reserve Bank of India (RBI) released a comprehensive set of Frequently Asked Questions (FAQs) to elucidate its guidelines on Default Loss Guarantee (DLG) in the burgeoning field of digital lending. This release aims to provide detailed clarifications on the operational aspects of DLG, a… Read More

March 31, 2024 @ 2:18 pm By Michael Wong  |  

The Reserve Bank of India is contemplating the establishment of the Digital India Trust Agency (DIGITA) in a move to combat the escalating cyber fraud. This initiative aims to clamp down on the proliferation of illicit lending applications by instituting a verification system for digital… Read More

January 31, 2024 @ 6:41 pm By Omar Faridi  |  

Intercontinental Exchange, Inc. (NYSE: ICE), a global provider of technology and data, today announced that Raymond James Bank (NYSE:RJF) will use the company’s Encompass® end-to-end digital lending platform “to support mortgage origination for high net-worth borrowers across both retail and delegated correspondent lending channels.” Raymond James… Read More

January 26, 2024 @ 8:54 am By JD Alois  |  

The Digital Lending Association (DLA) in Germany has added two new members: Euro ABS and GvW Graf von Westphalen. Euro ABS services the asset-backed security market globally. GvW Graf von Westphalen is a partnership of attorneys and tax consultants with offices across Germany but providing… Read More

January 26, 2024 @ 3:56 am By Michael Wong  |  

Digital lending platform Vivifi India Finance has raise $75 million in a Series B funding round to further extend loans to the salaried class as well as small businesses in India. This latest infusion of capital comprises $15 million in equity and $60 million in… Read More

January 14, 2024 @ 5:42 pm By Michael Wong  |  

Reserve Bank of India (RBI) Governor Shaktikanta Das refuted claims that new digital lending guidelines would hinder fintech growth, asserting instead that investor confidence in the sector has risen since their implementation. Speaking at the Mint BFSI conclave in Mumbai, Das highlighted the positive impact… Read More

December 30, 2023 @ 6:04 pm By Michael Wong  |  

Sri Lanka has seen an exponential increase in the use of online loan applications across the country, according to a report by online lender Robocash said. The user base for these digital lending services has seen a dramatic rise, skyrocketing from 10,600 in August 2021… Read More

December 20, 2023 @ 10:04 pm By Michael Wong  |  

A new survey has highlighted a growing trend among Indian consumers towards using digital services for loans and financial transactions, coupled with a significant lack of awareness about data privacy. According to Home Credit India’s ‘How India Borrows Survey 2023’, only 18% of borrowers surveyed… Read More

December 18, 2023 @ 11:40 am By Omar Faridi  |  

Blend has shared the 2023 Mortgage Suite ROI Study. Jordan Brown, CEO of MarketWise Advisors LLC, has distributed the third annual Blend return on investment (ROI) impact analysis “conducted by MarketWise Advisors.” The study reportedly provides “an independent evaluation of Blend’s mortgage technology and its… Read More

December 4, 2023 @ 6:01 pm By Michael Wong  |  

The digital lending market in the Philippines is poised for a significant expansion, with expectations to grow by 45.4%, reaching $488.8 million this year, from just $336 million a year earlier. This forecast, as per the latest report by PayNEXT360, a research and consulting firm… Read More

November 25, 2023 @ 6:47 pm By Michael Wong  |  

India-based micro-lender Arohan Financial Services is reportedly planning to expand its digital lending operations as part of its overall goal of revolutionizing microfinance with digital push. Arohan said it will leverage its ‘Apna Arohan’ app for more efficient loan disbursements and improved repayment compliance. Launched… Read More

October 10, 2023 @ 9:36 am By Omar Faridi  |  

Tarabut, MENA’s leading open banking platform, has announced a new partnership with FLOOSS, a Bahrain-based digital lending platform. FLOOSS is reportedly the “first” and fastest digital loan app in Bahrain “offering consumer loans of up to BHD 750 with a repayment period of up to… Read More

September 28, 2023 @ 8:02 am By Omar Faridi  |  

TruStage, an insurance, investment and technology provider, built on years of experience providing payment protection solutions to credit unions, announced the availability of its newest lending solution–Payment Guard Insurance. The Payment Guard product is a key innovation in the digital lending / insurance space. It… Read More

September 7, 2023 @ 10:18 pm By Omar Faridi  |  

Commonwealth Bank of Australia (CBA) announced its venture-scaling arm, x15ventures, has entered an agreement “to acquire cloud-based invoice lending platform Waddle, accelerating the bank’s ambition to provide leading working capital solutions for Australian businesses.” CBA has an existing partnership with Waddle “through its Stream Working… Read More

June 18, 2023 @ 12:29 pm By Omar Faridi  |  

Comerica Bank announced the launch of Comerica Small Business Convenient Capital, its first “fully digital,” end-to-end new lending platform “to provide convenient access to capital and innovative value-added benefits for Comerica small business customers.” Built in collaboration with Amount, a digitally enabled lender and credit… Read More