Lending

MasterCard Beefs Up Its Fintech Acquisitions

MasterCard Beefs Up Its Fintech Acquisitions

by July 29, 2015 at 6:15 pm 1 comment

You certainly can’t accuse MasterCard of ignoring FinTech innovators. In addition to running hackathons with startups all over the globe — the next one is in Mexico City this weekend — MasterCard is acquiring companies left and right. CEO Ajay Banga described what the company is looking for in the M&A spaceRead More

Alternative Finance Is Not So Alternative Anymore

Alternative Finance Is Not So Alternative Anymore

by July 29, 2015 at 1:19 pm 0 comments

Online fundraising platform Onevest is a few days (and a few dollars) short of finishing its latest funding round — on its own platform. The company’s crowdfunding platform is typically used to fund startups, which Onevest is, or was — it started in 2010. Crowdfunding, along with P2P or marketplace lending, fills outRead More

3 Startups to Watch: Principly, EdAid, Wayerz

3 Startups to Watch: Principly, EdAid, Wayerz

by July 29, 2015 at 11:48 am 0 comments

This week’s startups to watch take on financial aid for education and optimized hardware for bank operations. Principly – Principly sims to bring modern sensibilities to the traditional concept of a college fund. Its stated mission is “to make college a reality for more kids by empowering families to save smarter andRead More

Cross River Bank to Securitize $100 Million of Marketplace Loans

Cross River Bank to Securitize $100 Million of Marketplace Loans

by July 27, 2015 at 4:38 pm 0 comments

Cross River Bank, a major player in the marketplace lending space, expects to securitize $100 million of these loans later this year, Bank Innovation has learned. Cross River will be among the first lenders to do so, and the securitization will add valuable liquidity to the marketplace lending sector. Citibank announced last week itRead More

Top 5 FinTech Rounds: Marketplace Lenders Keep Piling Up Capital

Top 5 FinTech Rounds: Marketplace Lenders Keep Piling Up Capital

by July 27, 2015 at 12:27 pm 1 comment

Marketplace lenders dominated the FinTech venture capital rounds last week. Money has been pouring into the space as investors hunt desperately for returns. American companies continued their resurgence in the Top 5, with three companies based in New York, California, and Georgia garnering money.   LiftForward, Inc., $250 Million – LiftForward operates aRead More

In Spending Mode, Discover’s Direct Bank Expenses Climb 18%

In Spending Mode, Discover’s Direct Bank Expenses Climb 18%

by July 24, 2015 at 11:19 am 0 comments

Discover Financial Services might be the major FI most engaged in spending on information technology today. Which is why it is worth noting that the company claims it is already “seeing good returns associated with those” spending efforts, according to R. Mark Graf, the credit card issuer’s chief executive officer andRead More

3 Startups to Watch: FrankMoney, Text a Loan, TravelersBox

3 Startups to Watch: FrankMoney, Text a Loan, TravelersBox

by July 22, 2015 at 9:15 am 1 comment

This week’s Startups to Watch help solve three consumer problems: seeing how donations get used, getting loans fast, and ditching pesky foreign currency right at the airport. Frank Money  – Frank Money is a public-facing transparent ledger that plugs in to charities’ bank accounts in order to provide donors and contributors withRead More

Top 5 FinTech Rounds: Fenergo, RealtyMogul, Ethoca & More

Top 5 FinTech Rounds: Fenergo, RealtyMogul, Ethoca & More

by July 20, 2015 at 1:00 pm 0 comments

This week’s theme is communities, connections, and crowdfunding. The top fintech rounds last week contained a mild surprise: unlike in previous weeks, the Top 5 was dominated by American companies. Three out of the five venture capital rounds featured here are headquartered in the US, with two based in California, and oneRead More

Share of Digital Sales at Bank of America Hits 60%

Share of Digital Sales at Bank of America Hits 60%

by July 16, 2015 at 11:42 am 0 comments

Bank of America might want to change its name to Digital Bank of America. The Charlotte, N.C., megabank is more digital bank than conventional financial institution today. That’s because 60% of the bank’s “sales” are “all digital now,” Brian T. Moynihan, Chairman and CEO of Bank of America, told investorsRead More

After 5 Years in Subprime, ZestFinance Elbows In to Near-Prime Personal Loans

After 5 Years in Subprime, ZestFinance Elbows In to Near-Prime Personal Loans

by July 16, 2015 at 10:41 am 0 comments

After five years plying the subprime lending sector, ZestFinance is finally moving into near-prime credit for debt consolidation. Known for its Big Data-driven loan underwriting for deep subprime customers, ZestFinance launched a near-prime personal loan product yesterday called Basix. This is just the company’s second direct loan product for consumers. Its first wasRead More

3 Startups to Watch: FundMyPro, ShareRate, LETZ

3 Startups to Watch: FundMyPro, ShareRate, LETZ

by July 15, 2015 at 1:15 pm 1 comment

The three FinTech startups we’re profiling this week all capitalize on the collective to engage consumers with their products. One capitalizes on crowdfunding, the second on “Crowdborrowing,” and the third on the pooling of resources. FundMyPro  — Created by former NFL star Corey Jackson, FundMyPro is a platform designed for professional athletesRead More