Regions Financial Corp. is using its upcoming Avant deployment as an opportunity to “refresh” its digital offerings. The bank’s CEO, Grayson Hall, said yesterday during the company’s earnings call that the Avant loan application service will go live next month. The Regions-Avant partnership was announced last April. “[W]e’re in the process evenRead More
Post Tagged with: "Avant"
Marketplace lending in the U.S. has endured difficult times recently, with both Lending Club and Avant announcing drastic cuts in the same week. A startup has arrived from Russia arrived in the U.S. yesterday with a new take on how to approach the marketplace lending puzzle. Moscow-based Blackmoon offers a MPLaaS (marketplaceRead More
Tremors are running through the alternative lending space. Prosper raised rates, cut staff, and saw a chilly reception from investors for its latest securitization. OnDeck saw shares slide to 30% of their IPO value. Avant called off several new product launches and also cut staff. Perhaps most ominously, Lending Club CEO Renaud Laplanche suddenly stepped down whenRead More
Regions Bank teamed up with online marketplace lender Avant Inc. to provide customers with a streamlined loan application and underwriting “experience,” the companies announced this morning. Beginning in the second half of 2016, customers can apply for an unsecured loan on the Regions Bank website through the Avant platform, which will carryRead More
Online marketplace lender Avant Inc. will now offer direct-to-consumer auto refinance loans, the company announced today. The new auto loan product will initially launch in California, and is expected to be live in Illinois and Georgia by early in the second quarter, with a national rollout expected by the third quarter, according to Avant.
The white-hot fintech space saw its largest capital raise ever yesterday, with a whopping $1 billion handed to marketplace lender Social Finance, or SoFi, in a Series E round led by SoftBank. SoFi is now valued at over $4 billion. The money hasn’t (completely) gone to founder and CEO MikeRead More