Tagged: online lending

December 14, 2016 @ 11:52 am By Samantha Hurst  |  

  Last week, SoFi, one of the largest online lenders in the US, made a special appearance on the hit talk show The Ellen Show and offered the audience a bit of a surprise. As previously reported, SoFi describes itself as a “modern finance company.” Its mission has… Read More

November 14, 2016 @ 5:16 pm By Samantha Hurst  |  

On Monday, online lender Prosper Marketplace announced its board of directors has named former CFO David Kimball as the new CEO after Aaron Vermut stepped down from the position. Vermut notably served as the CEO of Prosper since March 2014, and the platform reported that he would… Read More

November 8, 2016 @ 9:57 am By Erin Hobey  |  

i2B Capital, a direct financing provider to niche-market financial entrepreneurs, is pleased to announce the closing of a $4 million asset-based revolving line of credit with an accordion to $6 million with CFG Merchant Solutions, a privately owned and operated specialty finance company focused on… Read More

November 4, 2016 @ 11:15 am By Samantha Hurst  |  

On Thursday, European online lender Spotcap announced it is ready to expand into the UK market and will be opening its new London office by the end of the year. Incubated by German investment company Rocket Internet, Spotcap was founded in 2014 and currently offers SMEs credit… Read More

October 27, 2016 @ 8:28 am By Erin Hobey  |  

ReliaMax, a fintech-based and complete private student lending solutions provider, announced the launch of borrower acquisition channel partnerships as part of its Connext Private Student Loans by ReliaMax platform. The inaugural partners include LendingTree, SimpleTuition, Upstart and Student Loan Hero. Borrowers may now access ReliaMax’s Connext… Read More

October 20, 2016 @ 5:13 am By Erin Hobey  |  

US online lenders have quickly seized opportunities to meet demand for more targeted, easy-to-access digital financial services; however, inherent weakness in the online lender business model will likely limit it to a small segment of the market, Moody’s Investors Service says in a report only… Read More

October 13, 2016 @ 5:11 am By Erin Hobey  |  

Greater Hudson Bank (OTCQX: GHDS) has partnered with Sageworks, a financial information company that provides lending, credit risk and portfolio risk solutions to banks and credit unions, to provide an online loan application allowing commercial borrowers to complete applications electronically, according to a release. The Sageworks Online Loan Application is… Read More

October 6, 2016 @ 7:31 am By Erin Hobey  |  

TransUnion (NYSE: TRU) announced the launch of its Fraud Prevention Exchange, an industry collaborative designed to combat online fraud at the Lend360 conference. The Fraud Prevention Exchange will leverage the power of collective data and help lenders face challenges brought on by originations fraud, including synthetic identity and loan stacking. TransUnion… Read More

September 29, 2016 @ 8:06 am By Erin Hobey  |  

Canadian fintech company Lendified Holdings Inc. and its subsidiary and direct lender, Lendified Inc. announced today that their subsidiary Vault Circle Inc. has received an exempt market dealer license from the Ontario Securities Commission (OSC) for its investment business. This marks the achievement of a significant milestone not… Read More

September 28, 2016 @ 6:39 am By Erin Hobey  |  

We’ve been awaiting updates on Marcus, Goldman Sachs’ much anticipated online lending platform named for bank’s cofounder Marcus Goldman which may go live as early as October. Stephen Scherr, Goldman Sachs Global Head of the Financing Group, revealed more about Marcus on Tuesday, reported the WSJ, noting that… Read More

September 23, 2016 @ 10:17 am By JD Alois  |  

Every now and then the Federal Reserve kicks out some interesting research regarding Fintech and alternative finance. During the waning days of summer of 2015, the Federal Reserve of Cleveland published a report on online lending entitled; “Alternative Lending Through the Eyes of Mom &… Read More

September 22, 2016 @ 5:27 am By Erin Hobey  |  

P2P Global Investments and Zopa have teamed up to work on Europe’s first securitization of unsecured consumer loans originated online, reported Bloomberg. The £138M ($179 million) transaction is backed by 27,137 loans to individuals, according to Moody’s Investors Service, with a weighted average seasoning of 10 months and a maximum loan… Read More

September 20, 2016 @ 11:12 am By Samantha Hurst  |  

Cloud Lending Solutions, Crowdnetic, and eOriginal announced on Tuesday the launch of their new collaborated turn-key solution, DigitalLEND. The companies revealed that the new solution allows lenders to move online quickly, and capture market share in the sector: “From online origination to connecting with banks… Read More

September 8, 2016 @ 5:57 am By Erin Hobey  |  

The word on the street is that one of the US’ largest online lenders, SoFi, is pitching a new $500 million fundraising effort, according to the WSJ; the San Francisco-based privately held lender helmed by CEO Mike Cagney will reportedly use the funding for new growth initiatives among mass-market borrowers and… Read More

August 19, 2016 @ 9:24 am By Erin Hobey  |  

“Marcus, I’d like a small consumer loan.” No, users will not be going to a teller to ask for a loan from Goldman Sachs‘ much anticipated online lending platform. Rather the name is meant to establish a sense of familiarity, like being on a first name basis… Read More

July 12, 2016 @ 4:43 pm By Erin Hobey  |  

Small businesses play a large part in the city.  Today marked the launch of For New York, a new online magazine from online lender Bond Street to spotlight the importance of these small businesses by interviewing their founders and owners.  Founded in New York City in 2014, Bond Street has… Read More

June 15, 2016 @ 2:21 pm By Erin Hobey  |  

As expected, more and more brick and mortar operations are casting wider nets for clients, by utilizing fintech and offering more and more of their services online.  Raleigh-based Sageworks, a financial information company that provides loan portfolio and risk management solutions to banks and credit unions,… Read More

June 13, 2016 @ 7:56 am By Erin Hobey  |  

Armed with an undergraduate degree in Electronics from Dharmsinh Desai University and MBAs from both the Indian Institute of Management, Bangalore and McGill University, Jaidev Janardana spent 12 years with Capital One, in the US and the UK. He was the CMO for Capital One UK, responsible… Read More

May 5, 2016 @ 11:54 am By Erin Hobey  |  

Online small business lending platforms OnDeck (NYSE: ONDK), Kabbage and CAN Capital – today announced the formation of the “Innovative Lending Platform Association,” which will focus on advancing small business online lending education, advocacy, and best practices.  Together the three founding companies have provided access to… Read More

April 19, 2016 @ 1:32 pm By Erin Hobey  |  

  Online lending platform Avant announced today it has recruited the key technical teams of two local technology startups, StudyCloud and TempoIQ, to support the company’s next phase of growth. Avant recently surpassed $3 billion in loan originations and as growth continues for 2016, acqui-hires have become… Read More