PYMNTS

DECEMBER 27, 2016

PYMNTS consulted 21 payments executives from across the industry to share their insights on the biggest takeaways from 2016 as part of the “Payments 2016, The Year Of…” eBook. Payments 2016: The Year Of The Emergence Of The Global Citizen. 2016 saw more people transacting across borders in larger sums than ever before.

Cross-Border Payments

CB Insights

DECEMBER 7, 2017

By the end of 2017, nearly $1.8T worth of mortgages will have been originated in the United States this year, according to government-backed mortgage lender Freddie Mac. Originating, processing, and underwriting a home loan with a large bank lender still requires faxes and snail mail and take almost as long as it did 20 years.

Non-Bank

Fintech News

JULY 23, 2024

The list, produced by CNBC in collaboration with market research firm Statista, highlights the world’s top 250 fintech companies across eight market categories: payments, wealthtech, business process solutions, neobanking, alternative finance, financial planning, digital assets and banking solutions. billion (US$4.4

FinTech

Fintech News

MARCH 6, 2024

Are digital first banks in Asia poised to lead a disruptive charge against well-entrenched, established commercial banks? In the traditional banking sphere globally, but especially true in Asia, there is a considerable proportion of unbanked and underbanked populations who lack complete or any access to banking services.

Online and Mobile Banking

PYMNTS

DECEMBER 10, 2016

Lending Club’s model does not need bank branches on each street corner, and it can turn around in minutes and hours, not days. When I founded my first startup, it got me thinking — banks are middlemen that can and should be disrupted,” Laplanche noted in a 2007 interview on how he came up with the idea of Lending Club.

Non-Bank

Fintech News

MARCH 26, 2024

The World Bank flagged in October 2023 that the region’s burgeoning economies would decelerate to 4.5% It offers a range of services including a white-label payment gateway for banks and institutions, and an all-inclusive payment gateway solution for merchants. #4

FinTech

PYMNTS

NOVEMBER 27, 2018

They’re also taking their toll on the non-bank mortgage lenders that proliferated in the good old days of zero or near-zero interest rates, compliments of the Federal Reserve. The Mortgage Bankers Association (MBA) reports that new home mortgage originations are at their lowest levels in years. The Supply Side of the Story.

Non-Bank

PYMNTS

SEPTEMBER 25, 2018

A report by the Bank for International Settlements (BIS) found that when it comes to credit done through nascent technological platforms, boons and risks are afoot. Beyond that, volume has exploded, with $284 billion extended in 2016 compared to $11 billion in 2013.

Risk

Fintech News

MAY 23, 2024

Confronted by shifting factors such as tech advancements, generative AI, high interest rates, increased institutional oversight, and evolving customer expectations — the best banks must adapt their business and operating models in 2024, including in Asia. CHINA #1 China Merchants Bank China Merchants Bank Co.,

Online and Mobile Banking

PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. The Rundown on the Run-up to the Decisions.

P2P

Fintech News

SEPTEMBER 4, 2024

However, recent stringent regulations imposed by the Reserve Bank of India (RBI) have significantly impacted the sector, leading many fintech companies to reassess their BNPL strategies. Similarly, Slice, originally a BNPL firm, has transitioned to offering prepaid credit cards and is now merging with North East Small Finance Bank.

BNPL

Fintech News

APRIL 10, 2025

From bustling megacities to remote villages, digital finance is breaking down barriers, giving millions access to banking, credit, and investment opportunities for the first time. Using a mobility-led approach via the Svamaan App, it streamlines loan origination, management, and collections.

FinTech

FICO

JUNE 18, 2018

Are we making the progress we want to see — and regulators demand — on non-performing loans (NPL)? That’s the topic I explored with banking leaders from across the Europe, Middle East and Africa at our EMEA Risk Leadership Summit in May. European banks have set NPL target rates and plans to achieve these. NPL Divides Europe.

Blocks

PYMNTS

JANUARY 29, 2018

The financial services market has progressed by leaps and bounds in terms of innovation, from the rise of alternative finance to the development of technologies like blockchain and open banking initiatives. Now, a decade on, small business optimism is up in the U.S., Credit unions cannot invest more than 12.25

Credit Union

Fintech News

MARCH 18, 2024

The report, released in September 2023, looks at the Thai fintech sector, highlighting the rise of digital payments and the explosive growth of real-time transactions, as well as presenting the opportunities that exist in digital remittances, open banking, business-to-business (B2B) payments and agricultural lending.

FinTech

CB Insights

DECEMBER 4, 2019

If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”. Based on our findings, it’s hard to claim that Amazon is building the next-generation bank. In aggregate, these product development and investment decisions reveal that Amazon isn’t building a traditional bank that serves everyone.

Online and Mobile Banking

FICO

JUNE 30, 2016

It requires lenders to forecast all potential losses for the expected life of a loan at origination and, based on that, set aside reserves upfront for those losses. However, CECL differs from IFRS 9 in that it requires provisions based on lifetime loss for all impacted assets, not just those that are under-performing or non-performing.

Compliance

PYMNTS

AUGUST 1, 2018

The CFPB would implement Dodd-Frank data collection provisions in stages, starting with loan-origination data that lenders already collect. The report also asked Congress to amend the National Bank Act to authorize the Office of the Comptroller of the Currency (OCC) to issue a federal charter for non-bank financial companies.

Small Business

CB Insights

SEPTEMBER 10, 2019

A 2018 survey by Bank of America shows that millennials’ top financial priorities were saving for emergency funds (64%), saving for retirement (49%), and saving to buy a house (33%) — not much different from the concerns their baby boomer parents had 30 years ago. From big banks to big tech. get the REPORT on next generation investors.

Finance

PYMNTS

MAY 4, 2016

Challenges and solutions continue to emerge surrounding NACHA’s recent move toward establishing Same Day ACH payments, which are due to arrive as soon as September 2016. While there are plenty of positives set to result from Same Day ACH, some banks are concerned about the risks posed by faster payments. More than 93 percent of U.S.

Faster Payments

CB Insights

AUGUST 14, 2018

Even Apple founder Steve Jobs voiced hesitations about variations on the original iPhone, arguing that phones with larger screens would never catch on: “You can’t get your hand around it,” Jobs said when Samsung and Google came out with phones larger than the 3.5” original iPhone. “No No one’s going to buy that.”. ” 14.

Bitcoin

PYMNTS

SEPTEMBER 30, 2016

The CFPB doesn’t like it and has decided it needs to go – and just like Wells was the big fish on the line for the ongoing crackdown/smackdown of big banks, nailing the startup that went to market as the kindler, gentler side of payday loans may be the example that’s held up to put the rest of the industry out to pasture. Better not.

CFPB

PYMNTS

MAY 11, 2017

Several major banks, including Citi and Standard Chartered, recently launched their own APIs to help their various clients access each banks’ financial toolsets to address their individual needs. Bank, host hackathons to motivate the developer community to build these tools. Bank’s “Think Big, Hack Small” hackathon.

API

PYMNTS

SEPTEMBER 7, 2017

Apologies to any Iron Man 3 devotees reading this, but follow-ups just typically don’t have the Jaws of, well, the original. By some accounts, the anticipated change to the system in 2016 was comparable to the hysteria that preceded the then-unknown effects of the Y2K bug. For banks, Same Day ACH debits mean incremental change.

Same Day ACH

Fintech Labs Insights

OCTOBER 17, 2020

A startup from Little Rock, Arkansas, founded by West African immigrants, tackling a huge and important problem, managing the global banking & money transfers for NGOs. In its pitch ( above ), AidBanc outlines how World Vision has 2,000 bank accounts with more than 200 financial institutions in 100 countries. Funding: $120k.

Non-Bank

CB Insights

OCTOBER 29, 2018

But money was just the problem: due diligence oversights on Caterpillar’s part and alleged “deliberate, multi-year, coordinated accounting misconduct” at Siwei were uncovered months after the deal closed and Caterpillar took a $580M non-cash goodwill impairment write-down in 2012. Bank of America and Countrywide.

Acquirers

PYMNTS

JULY 18, 2017

Laplanche — as one of the pioneers of marketplace lending — was no stranger to making headlines before last spring, as he was one of non-bank-based financial services’ most enthusiastic and optimistic boosters. Word of Upgrade’s launch first hit the wires in late 2016 with few details — so few that even the media got the name wrong.

Volume

PYMNTS

SEPTEMBER 6, 2016

Also, two bitcoin experts responded to central bank calls for assistance in lifting the global economy and suggested that cryptocurrencies are less risky than central bank fiscal policies. Charles, is creating a network that is open to bitcoin and non-bitcoin users alike, according to Bitcoin Magazine. Let’s get the details.

Bitcoin

CB Insights

OCTOBER 12, 2017

With historically weak banks and many citizens without proper identification, India has always lagged in access to financial services. One key development in the Indian payments space was the launch of the United Payments Interface (UPI) in 2016. A more robust option is the payment bank license. e-Wallets and payment banks.

FinTech

PYMNTS

NOVEMBER 14, 2017

In 2010, digital lenders originated $249 million in unsecured personal loans, and by 2016 that number had grown ninety-fold. The Cleveland Federal Reserve Bank captured a lot of headlines with the release of its online lending study – particularly due to its use of the words “predatory” and “needs additional regulation.”

Fed

PYMNTS

SEPTEMBER 20, 2017

Over the years, non-profit business model credit unions have faced heavy competition from larger, for-profit banks. The rise of FinTech companies has made the financial services industry more cutthroat as both credit unions and traditional banks are being forced to consider how to respond to these new providers.

Credit Union

PYMNTS

OCTOBER 7, 2019

Telcos, banks and PSPs, and global remittance platforms are also providing those 1.5 billion people with bank accounts and digital wallets, enabling them to accept payments in a familiar currency. Questions about regulatory compliance related to money laundering were reported to be the reason for PayPal’s exit.

Regulations

CB Insights

SEPTEMBER 27, 2017

” More recently, on a March 2016 earnings call, FedEx Executive VP Mike Glenn minimized the impact of Amazon’s decision to lease aircraft and buy its own trucks to get into the logistics and shipping business. Here’s Cinemark’s CEO on a February 2016 earnings call. They’ve had other movies. ” 14.

Bitcoin

Fintech Labs Insights

SEPTEMBER 29, 2016

Originally founded in 1841, financial services organization Sberbank has seen a lot of change over the 175 years it’s been in business. And this week the bank is embracing more change by taking a leap into the blockchain. This isn’t the first time we’ve seen Sberbank’s innovative side.

Blockchain

PYMNTS

JULY 1, 2019

Bots on Messenger were launched in April of 2016 – two years after Marcus took charge – to much fanfare. And all of them – developed and developing – use regulated rails, bank accounts and compliant fiat currencies to remove user confusion and friction, establish trust, enable merchant acceptance and accelerate market entry and scale.

Bots

Fintech Labs Insights

NOVEMBER 16, 2016

So Overbond’s platform replaces a process that, in addition to being 50-years old, is manual, non-transparent, error-prone and costly for everybody involved.” Named one of KPMG’s Top 50 Emerging Global Stars in 2016, a Canadian Innovation Exchange Top 20 Company, and one of Paypal and Techvibes’ Fintech Five.

Technology

CB Insights

OCTOBER 10, 2017

Acorns’ rock-bottom customer acquisition costs as driven by non-viral referral. For the non-exited companies — Robinhood, Acorns, Stash, and Credit Karma — we looked at which apps had the highest rates of user growth and what’s driving expansion. bank accounts. debit & credit cards. income information.

Finance