Tagged: consumer lending

May 19, 2024 @ 1:38 pm By Omar Faridi  |  

With nearly three-fourths (73%) of consumer loan customers now categorized as financially unhealthy1, up from 67% in 2023, lenders “have their work cut out for them delivering products that meet customer needs in a persistently high interest rate environment.” According to the J.D. Power 2024… Read More

December 21, 2023 @ 1:50 am By Omar Faridi  |  

Updraft, a UK-based consumer lending fintech has announced the closing of a £250M forward flow arrangement with Jefferies and Santander Corporate and Investment Banking, allowing the business to build on its mission “to help UK households move away from expensive credit cards and overdrafts.” The… Read More

July 7, 2023 @ 2:22 pm By Omar Faridi  |  

Clair, a mission-driven fintech company, announced it raised $175 million in funding to launch the first free, consumer-friendly, on-demand pay solution as a consumer lending program backed by an FDIC-insured bank. The new program “provides for a participation amount of up to $150 million, which… Read More

February 17, 2023 @ 5:18 pm By Omar Faridi  |  

LexisNexis Risk Solutions unveiled the findings of its Alternative Credit Data Impact Report, a nationwide survey “assessing the adoption, utilization and impact of alternative credit data for credit portfolio growth and management in consumer and small/mid-sized business (SMB) lending.” The report surveyed those who identify… Read More

January 18, 2023 @ 11:55 am By Omar Faridi  |  

“Pioneering” issuer processing powerhouse, Enfuce, announced a new partnership with Orka Ventures, the Nordic-Czech fintech holding company, “to launch Orka Card, a new consumer lending card and mobile app that challenges the traditional understanding of ‘Buy Now Pay Later’ (BNPL) lending.” Until now, Orka Ventures… Read More

November 30, 2022 @ 11:27 am By Omar Faridi  |  

Bread Financial Holdings, Inc. (NYSE: BFH), a “tech-forward” financial services company that provides simple, flexible payment, lending and saving solutions, announced a new relationship with Versatile Credit Inc., a provider of innovative solutions “linking bank lenders with consumers applying for credit in retail stores.” Through… Read More

September 1, 2022 @ 9:47 pm By Omar Faridi  |  

India’s consumer lending fintech, EarlySalary, has closed its series D funding round of $110 million led by TPG’s The Rise Fund and Norwest Venture Partners. Existing investor Piramal Capital & Housing Finance Limited also participated in the investment round. This is EarlySalary’s largest fundraise to… Read More

August 11, 2022 @ 3:36 pm By Omar Faridi  |  

Truework, a Fintech company that provides income and employment verification for the nation’s largest mortgage, auto, and consumer lenders to approve more borrowers in a fraction of the time, recently announced that it raised $50 million in Series C funding. Leading the Series C investment… Read More

August 3, 2022 @ 8:42 am By Omar Faridi  |  

Agile Financial Systems (AFS), a financial technology company specializing in payment processing, announced that it has teamed up with LendingPoint, an AI-driven CreditTech financial platform, “to offer merchants consumer lending and unsecured personal loans online and at the point of sale.” By enabling merchants to… Read More

July 7, 2022 @ 4:02 pm By Omar Faridi  |  

Kueski, which claims to be one of the largest buy now, pay later (BNPL) and online consumer lenders in Latin America, announced the appointment of Sung Hae Kim as the company’s Chief People Officer. Kim’s main objectives are “to promote Mexico as a technology and… Read More

May 30, 2022 @ 8:57 am By Omar Faridi  |  

The team at Nordigen notes that they are pleased to announce their partnership with Lenders “to help with the further optimization of the loan comparison services.” Lenders is a globally-accessible consumer loan comparison platform. Their insightful analysis offers customers with quick, dependable and cost-effective loans… Read More

May 22, 2022 @ 10:37 pm By Omar Faridi  |  

P2P consumer lending platforms are the “most stable” in their growth, while the business segment is “increasing faster than the others,” the team at Croatian lender Robo.cash claims. Geographically, sustainable development is “mainly shown” by Croatian and Italian platforms, the Robo.cash writes in a blog… Read More

May 20, 2022 @ 2:42 am By Omar Faridi  |  

Ophelos, the technology firm building “fairer” debt resolution for businesses and their customers, announces it has partnered with Plend, an “ethical” consumer lender using Open Banking “to provide affordable loans to those struggling with access to credit.” Both pending B-corporations, Plend and Ophelos are closely… Read More

February 9, 2022 @ 11:06 pm By Omar Faridi  |  

Consumer lending Fintech Selina Finance has finalized a £150 million Series B round that included equity and debt financing. Selina Finance acquired $115 million in debt funding from Goldman Sachs and GGC and $35 million in equity financing led by Lightrock along with existing investors…. Read More

January 13, 2022 @ 10:19 am By Omar Faridi  |  

Tandem Bank has reportedly acquired consumer lending platform Oplo. The strategic acquisition has formed a combined business with £1.2 billion of total assets, £1 billion of funding and 171,000 clients being serviced by a UK-headquartered team of 500 professionals. Tandem was established back in 2014… Read More

January 4, 2022 @ 11:17 pm By Omar Faridi  |  

David Snitkof, Head of Analytics at Ocrolus, which claims to be the leading document automation platform in financial services, powering the digital lending ecosystem, notes that just over a year ago, he had commented on the state of the automotive lending markets in the US…. Read More

December 3, 2021 @ 11:38 am By Omar Faridi  |  

Mexico’s online lending platform and Buy Now, Pay Later or BNPL service provider Kueski has secured $202 million in capital via a debt and equity round that has been led by StepStone Group. Kueski claims to be the largest online consumer lender in Mexico. It… Read More

May 30, 2021 @ 6:33 pm By Omar Faridi  |  

India has a GDP of about $3 trillion which is relatively small when compared to the size of its population (estimated to be around 1.5 billion). There are also many unbanked and financially underserved consumers and businesses across the country. India also does not have… Read More

May 20, 2021 @ 2:12 am By Omar Faridi  |  

Informed.IQ, a tech firm helping financial institutions with instantly and accurately verifying income, assets, residence, and other loan origination data and documents, has reportedly acquired $20 million through a Series A round. The fund raised from the investment round should help Informed.IQ to better address… Read More

February 14, 2021 @ 5:28 pm By Omar Faridi  |  

India-based consumer lending firm MoneyTap has reportedly decided to expand its business operations to include Buy Now, Pay Later (BNPL) services. MoneyTap said its new BNPL solutions will aim to provide more accessible, affordable, and 0% (equated monthly installments) EMI options to Indian consumers. MoneyTap… Read More