Tagged: online lending

May 14, 2024 @ 10:27 pm By Omar Faridi  |  

OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided an initial £25m loan to Blue Shield Capital, a property lending firm committed to simplifying bridge lending. Launched in 2020, by co-founders Gil Ulrich and Jonathan Hitter, Blue Shield primarily underwrites senior bridging loans “backed… 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

April 30, 2024 @ 11:50 pm By JD Alois  |  

Specialty lender Capify has received a $125 million credit facility from Pollen Street Capital. Capify is an online lender that offers financing solutions to SMEs seeking working capital. Originally started in the US, the company also serves the SME market in the UK and Australia…. Read More

April 28, 2024 @ 3:54 pm By Michael Wong  |  

The Securities and Exchange Commission of Pakistan (SECP) has awarded a Non-Banking Financial Company (NBFC) license to M/s Edufi Financial Services (Private) Limited. This license marks a notable advancement in the Pakistani financial sector by establishing the first digital platform for ‘Study Now, Pay Later’… 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

April 22, 2024 @ 3:14 pm By Tony Zerucha  |  

Open Lending, a provider of automotive lending enablement and risk analytics solutions for financial institutions, released a new Near- and Non-Prime Consumer Update this week, continuing its quarterly report series on automotive lending trends among near- and non-prime consumers. The latest update uncovers disproportionate economic… Read More

April 22, 2024 @ 8:47 am By Tony Zerucha  |  

Alkami, a cloud-based digital banking solutions provider for financial institutions in the U.S., announced this week that it has formed a partnership with SWIVEL. Through Alkami’s single sign-on integration with SWIVEL’s Transaction Enablement Platform, Alkami’s bank and credit union clients can access their new partner’s… Read More

April 18, 2024 @ 7:09 pm By Omar Faridi  |  

Finix, the payment processor enabling businesses to accept and send payments, launched its Merchant Underwriting solution to automate underwriting workflows and streamline merchant onboarding processes. Finix’s solution collects and verifies necessary information “via pre-built brandable forms to empower businesses to onboard more merchants faster while… Read More

April 17, 2024 @ 6:24 pm By Omar Faridi  |  

Homium, Inc., a home equity mortgage lender and securitization platform, has launched its tokenized home equity loans on Avalanche. Homium’s shared appreciation home equity loans “provide homeowners with a novel way to borrow against their home equity without increasing their monthly debt burden.” Homium’s launch… Read More

April 1, 2024 @ 8:58 am By Tony Zerucha  |  

Intuit QuickBooks launched the QuickBooks Line of Credit this week. It gives small businesses a new way to access funding from $1,000 to $50,000 through loans issued by WebBank. QuickBooks said the new product is uniquely designed to provide business owners with the ability to… 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

March 19, 2024 @ 12:34 pm By JD Alois  |  

  Honeycomb Credit has emerged as a top platform enabling firms to raise money online utilizing the Regulation Crowdfunding (Reg CF) securities exemption. Based in Pittsburgh, Pennsylvania, in the past couple of years, the FINRA-regulated Funding Portal has expanded its services across the country. As… Read More

March 13, 2024 @ 10:34 am By JD Alois  |  

Honeycomb Credit, a FINRA-regulated funding portal that provides online capital formation for small businesses, is reporting that it has surpassed $25 million in money raised for small businesses. Honeycomb can help SMEs sell securities online under the Reg CF (Regulation Crowdfunding) securities exemption. Firms may… Read More

March 10, 2024 @ 2:26 pm By Michael Wong  |  

The Central Bank of Kenya (CBK) has significantly expanded its digital lending landscape by granting licenses to 19 new digital credit providers (DCPs), bringing the total to 51 licensed firms. This announcement marks the latest effort by the CBK to regulate the burgeoning fintech sector,… Read More

March 9, 2024 @ 6:27 pm By Michael Wong  |  

Philippine bank lending in January 2024 surged by 7.8 percent compared to the same month the previous year, signaling a robust acceleration from the 7.1 percent growth recorded in December 2023, according to preliminary data released on March 8, 2024. This increase in lending by… Read More

February 24, 2024 @ 2:24 pm By Omar Faridi  |  

Gofingo Group recently repaid PeerBerry investors EUR 200 000 in war-affected loans. These repayments are being processed on the PeerBerry platform “every month in the middle of the month.” Aventus Group’s war-affected long-term loans are repaid monthly “under the initial loan schedules.” In 24 months… Read More

February 23, 2024 @ 8:48 am By Omar Faridi  |  

In 2023, PeerBerry investors funded €809.57 million of loans – 50% more than in 2022. Last year, PeerBerry investors were reportedly “paid €10.43 million in interest, which is 46% higher than the previous year.” 14,143 new investors joined the platform in 2023 – “on average,… Read More

February 22, 2024 @ 9:29 am By Omar Faridi  |  

Lenders are increasingly frustrated with OCR (optical character recognition) solutions that are designed to read data off paystubs, but they’re only pulling text from the documents. They also aren’t an end-to-end solution helping lenders comply with ECOA and Fair Lending. Many OCR tools also focus… Read More

February 21, 2024 @ 10:05 pm By Omar Faridi  |  

Manchester headquartered specialist lender, Assetz Capital, has launched a new Planning Assistance Loan product, aimed at supporting the conversion of commercial buildings in to residential dwellings The new product solution is specifically designed “to help experienced property developers acquire commercial buildings, with the intent of… Read More

February 20, 2024 @ 9:38 pm By Omar Faridi  |  

Tonik Digital Bank, the Philippines’ first digital-only neobank, revamped the Big Loan, a multipurpose loan catering to a wider range of Filipinos’ financial needs. First launched in 2023, the Big Loan reportedly “offers borrowers up to P5 million with flexible, tailored repayment options, competitive interest… Read More