Tagged: personal loans

October 16, 2024 @ 7:19 am By Omar Faridi  |  

Zopa Bank has reportedly teamed up with John Lewis Money, the financial services arm of John Lewis Partnership, in order to provide personal loans to its 23 million customers. The partnership will see Zopa embed in the John Lewis Money website its personal loan product,… 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

September 7, 2023 @ 10:19 pm By Omar Faridi  |  

Nu Mexico announces the launch of its new product: personal loans. Like all Nu products, the launch will follow “a phased rollout process, starting in the coming days with a group of employees who will begin testing the product, to then expand the offering to… Read More

August 14, 2023 @ 1:50 pm By Omar Faridi  |  

At the mid-point of 2023, Gen Z consumers (born between 1995 and 2005) increasingly find themselves with new access to credit products. The newly released Q2 2023 Quarterly Credit Industry Insights Report (CIIR) from TransUnion (NYSE: TRU) shows “that relative to the consumer population as… Read More

July 6, 2023 @ 7:49 am By Omar Faridi  |  

Digital bank Revolut recently revealed that it has expanded its financial services in Germany by offering personal loans. As noted in the update from Revolut, existing clients may now apply for loans, which can range anywhere between €1,000 and €50,000 via the platform’s Fintech app… Read More

May 15, 2023 @ 11:04 pm By Omar Faridi  |  

P.F.C. (Personal Finance Co.), a Stockholm-based fintech, announced that its customers can now take out personal loans directly in the app, extending the range of financial services it provides on Mambu’s cloud banking platform. Mambu’s rapid deployment capability enabled P.F.C. “to configure the personal loan… Read More

April 22, 2023 @ 2:54 pm By Omar Faridi  |  

Commonwealth Bank is expanding its range of green financing to support home loan and personal loan customers “to enhance the energy efficiency of their homes, and purchase electric and hybrid vehicles.” The Green Loan is described as being “a low, 10-year secured fixed rate and… Read More

November 29, 2022 @ 12:25 pm By Omar Faridi  |  

The team at Prosper notes that they’re sharing performance data from the Prosper Portfolio for October 2022. Highlights from the Prosper Performance Update – October 2022: Dollar % of AA-B rated loan originations in October comprised approximately 63% of total loan originations, representing a 102… Read More

October 31, 2022 @ 1:47 pm By Omar Faridi  |  

Prosper Marketplace announced access to a new fixed-rate Home Equity Loan (HELoan) product for its customers in select US markets, “following the lending platform’s strong performance in personal loan origination last quarter.” This new product “complements Prosper’s suite of home equity products and resources and… Read More

August 19, 2022 @ 3:47 pm By Omar Faridi  |  

Alliant Credit Union, a fully digital, top 10 credit union in the U.S. with more than 650,000 members and over $15 billion in assets, announced it has partnered with Upstart (NASDAQ: UPST), an artificial intelligence (AI) lending marketplace, “to offer AI-powered personal loans nationwide.” Charles… Read More

August 16, 2022 @ 12:07 pm By Omar Faridi  |  

The team at Prosper has shared their performance data from the Prosper Portfolio for July 2022. Highlights from the Prosper Performance Update – July 2022 are as follows: In July, approximately 59% of loan originations “were rated AA-B, increasing by approximately 1.6% month-over-month.” Average loan… Read More

June 22, 2022 @ 9:38 am By Omar Faridi  |  

Nuula, a Fintech focused on providing small businesses the tools and the capital they need to succeed, announced a new personal loan search feature that “allows small business owners and entrepreneurs that are smaller or earlier stage to search 30+ top lenders for personal loan… Read More

April 21, 2022 @ 11:18 pm By Omar Faridi  |  

QuadFi, which claims to be a “mission driven” global fintech firm headquartered in Canada, has announced that it entered into an agreement for “a new financing facility of up to $100 million (CAD $127 million) with Crayhill Capital Management, a New York-based minority-owned private credit… Read More

March 6, 2022 @ 10:17 pm By Omar Faridi  |  

BigPay, a Capital A venture firm and virtual banking platform, announced the introduction of its all-digital loans issued by “BigPay Later”, which is a wholly owned subsidiary operating within the group and a digital money lending license holder. The personal product provided by BigPay Later… Read More

April 16, 2021 @ 8:37 pm By Omar Faridi  |  

Ujjivan SFB has teamed up with NIRA in India to offer personal loans. As reported by the Economic Times, Ujjivan SFB noted that the partnership with NIRA is a key part of their business approach of using API Banking solutions as part of strategic Fintech… Read More

March 6, 2021 @ 7:10 pm By Omar Faridi  |  

China’s regulatory authorities have reportedly been telling local banking institutions to “trim” their loan books during 2021 to guard against potential risks resulting from bubbles in domestic capital markets. This, according to an update from Reuters which cited sources familiar with the matter (on March… Read More

February 21, 2021 @ 7:33 pm By Omar Faridi  |  

TransUnion (NYSE: TRU) confirmed that consumer credit activity keeps rising from the COVID-19 pandemic lows, but some areas like automobile loans (subprime) performance have lagged. As noted in an update published on February 18, 2021, by TransUnion, the company’s Q4 2020 Industry Insights report looks… Read More

April 26, 2020 @ 8:35 pm By Omar Faridi  |  

Michael Hoare, chief credit officer at UK-based RateSetter, a leading peer to peer (P2P) lender,  recently explained what impact the Coronavirus (COVID-19) pandemic could have on the lending market and what it might mean for credit risk. Hoare is tasked with overseeing the management of… Read More

January 23, 2018 @ 10:02 am By Samantha Hurst  |  

On Tuesday, loanDepot announced it is continuing the expansion of its mortgage and personal loan businesses by launching newly formed venture, mello Home, which connects pre-approved homebuyers with verified real estate agents in their local market and help consumers find and hire home improvement and other… Read More

March 7, 2017 @ 1:35 pm By Samantha Hurst  |  

TransUnion (NYSE: TRU) announced on Tuesday its latest data found that as personal loan delinquency rates rise, online fraud, which includes loan stacking, continues to make significant contributions to these increases. The credit information and information management service company noted that serious delinquency rates (90+… Read More