Tagged: lending

November 17, 2023 @ 9:17 am By Omar Faridi  |  

Iute Group reports that its performing loans portfolio and revenue continued to grow in the 9 months of 2023. The company has further shared the following financial and operational updates: Number of active customers declined “to 282 thousand (31 Dec. 2022: 293 thousand) but the… Read More

November 16, 2023 @ 8:12 am By Omar Faridi  |  

In 21 months of the war (since February 24, 2022), PeerBerry business partners Aventus Group and Gofingo Group have, in total, repaid PeerBerry investors €46.2 million or 92% of the total outstanding war-affected obligations. Today, Gofingo Group repaid PeerBerry investors €200 000 in war-affected loans…. Read More

November 15, 2023 @ 8:46 pm By Omar Faridi  |  

Pegasystems Inc. (NASDAQ: PEGA), the low-code platform provider empowering the world’s leading enterprises to Build for Change, announced that Shawbrook, a UK-based specialist savings and lending bank, has deployed Pega Platform “to transform its buy-to-let mortgage underwriting process.” Shawbrook continues to “invest in its unique… Read More

November 11, 2023 @ 12:10 pm By Omar Faridi  |  

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s digital marketplace bank, announced it crossed $1 billion of personal loans sold through its Structured Loan Certificates Program (SLCLC Program). The company anticipates approximately $2 billion dollars of loan volume “through the SLCLC Program… Read More

November 7, 2023 @ 9:55 pm By Omar Faridi  |  

PeerBerry’s business partner – real estate developer SIB Group – has reportedly repaid investors a €200 000 loan (real estate project “Lini namai”) and paid €41,076 in interest to our investors. PeerBerry enters its seventh year of operations “with a record amount of funded loans… Read More

November 2, 2023 @ 1:06 pm By Omar Faridi  |  

Figure Lending LLC and Figure Technologies, Inc., a key player focused on transforming financial services through the power of blockchain technology, announced it has expanded its Partnership business to “include an increased offering under the Lending-as-a-Service (LaaS) platform, in addition to the previously launched Wholesale… Read More

October 30, 2023 @ 9:00 pm By Omar Faridi  |  

One more business partner, LoanPlus from Sri Lanka, joins the PeerBerry platform. LoanPlus will reportedly offer PeerBerry investors investments “in short-term loans with an 11.5% annual return.” Loans provided by LoanPlus to PeerBerry investors “include a buyback and a group guarantee.” LoanPlus (legal name AISIT… Read More

October 27, 2023 @ 12:49 pm By Omar Faridi  |  

We recently spoke with Markus Prommik, CEO and Co-founder of Finfra, a Fintech platform that develops white-labeled lending products for non-Fintech companies seeking to integrate financial services into their platforms. Based in Jakarta, Indonesia, Finfra not only provides practical embedded lending solutions to their clients… Read More

October 26, 2023 @ 2:22 pm By Omar Faridi  |  

U.S. Bank, an organization supporting payment services, announces the launch of Avvance, an embedded, multi-channel point of sale lending solution. Avvance empowers businesses “with the ability to offer consumer financing during checkout with a quick application and instant decisioning.” Payment methods are constantly evolving and… Read More

October 24, 2023 @ 10:07 pm By Omar Faridi  |  

Ingenico, the payment acceptance solutions provider, joins forces with Jifiti, the Fintech focused on white-labeled embedded lending, in a new  alliance. This partnership empowers merchants to “offer financing options, provided by accredited financial institutions and enabled by Jifiti, through Ingenico’s innovative cloud-based Payments Platform as… Read More

October 24, 2023 @ 7:31 am By Omar Faridi  |  

TAB, the real estate finance and investment house set to have a £500m loan book in 2024, has completed a private securitisation facility with NatWest and Atalaya Capital Management of “up to £300m to support TAB’s lending products.” Both funding partners support TAB’s commitment to… Read More

October 17, 2023 @ 11:17 pm By Omar Faridi  |  

iwoca, which claims to be one of Europe’s largest SME lenders, announces a new funding line with initial commitments of £200 million from Barclays and Värde Partners. In January this year, iwoca secured “an increase and extension to its existing funding line, with long-standing partner… Read More

October 16, 2023 @ 11:03 pm By Omar Faridi  |  

PeerBerry’s business partner – real estate developer Lithome – repaid investors a EUR 320 000 (real estate project “City Stories”, funding of the first construction stage) loan and paid EUR 30,406 in interest. PeerBerry closed one more record month – in September, PeerBerry investors funded… Read More

October 11, 2023 @ 10:28 pm By Omar Faridi  |  

Small business loan approval percentages at big banks ($10 billion+ in assets) fell again, dropping from 13.2% in August to 13.1% in September, according to the latest Biz2Credit Small Business Lending Index. Big bank lending to small businesses “has dipped every month since June 2022.”… Read More

October 11, 2023 @ 10:03 pm By Omar Faridi  |  

Versana announced that founding investor Citi (NYSE: C) is now connected to its transformative digital data platform, “enabling syndicated loans agented by Citi to be available to Versana’s growing subscriber base in real-time.” Citi joins Versana’s other three founding investors – Bank of America, Credit… Read More

October 11, 2023 @ 8:16 am By Omar Faridi  |  

Scottish digital bank Alba Bank announced that it will migrate to Mambu’s cloud banking platform to manage its small and medium-sized enterprise (SME) lending services, as well as its retail and business deposits. Alba bank has been approved for a UK banking licence. Alba Bank… Read More

October 10, 2023 @ 5:44 pm By Omar Faridi  |  

Point Predictive, the firm focused on AI-powered fraud solutions for the auto lending industry, has joined forces with Metro Jobber’s, Inc., a wholesale automotive distributor, to tackle the growing issue of auto loan fraud in the Detroit Metropolitan area. This strategic partnership is set “to… Read More

October 3, 2023 @ 10:52 pm By Omar Faridi  |  

The team at Perenna says they’re pleased to announce their exclusive partnership with London & Country Mortgages as they begin lending. Perenna received their full banking license from the Prudential Regulatory Authority (PRA) and UK’s Financial Conduct Authority (FCA) at the start of September and… Read More

September 29, 2023 @ 3:11 pm By Tony Zerucha  |  

A new report from business data API provider Codat shows that business lenders continue innovating and evolving their offerings despite current economic challenges. The study of 115 business lenders in the United States and the United Kingdom shows providers are adapting their strategies and priorities to narrow in focus… Read More

September 29, 2023 @ 8:28 am By Omar Faridi  |  

One more business partner, Smartcredito from Spain, joins the PeerBerry platform. Smartcredito will offer PeerBerry investors investments “in short-term loans with a 10% annual return.” Loans provided by Smartcredito to PeerBerry investors “include a buyback and a group guarantee.” Smartcredito (legal name Arena Finance Spain… Read More