FICO

DECEMBER 20, 2018

We began to see a resurgence in small-dollar lending in 2018 with new regulatory guidance from the OCC and FDIC encouraging banks to compete with payday lenders. Payday Lenders Will Face More Robust Competition. small-dollar lending market. Two recent developments will aid banks’ efforts to break into this market in the next 12 months.

Consumer 73

Consumer Emerging Payments OCC FDIC 73

Nanonets

APRIL 24, 2023

It also includes various other steps such as underwriting , documentation, and funding.  The Automate your mortgage processing, underwriting, fraud detection, bank reconciliations or accounting processes with a ready-to-use custom workflow. The term also applies to other types of amortized personal loans.

Origination 52

Origination Process Underwriting Automation 52

Finovate

OCTOBER 10, 2024

Matjanec : Today, there is protection being offered… we have deposit insurance, FDIC insurance, overdraft protection, fraud protection. That allows us to bring this benefit to market without requiring any sign-up, opt-in, or underwriting… That turns this into a 72-hour ability to turn on.

FDIC 52

FDIC Deposit Account Financial Inclusion Underwriting 52

PYMNTS

MARCH 30, 2020

government’s $2 trillion stimulus package allows a number of entities — FDIC banks, credit unions and, most notably for this discussion, FinTechs such as Kabbage — to make loans to smaller firms. The urgency, and speed, of Kabbage’s situation comes even as the U.S.

FDIC 60

FDIC Credit Union Small Business Underwriting 60

PYMNTS

NOVEMBER 23, 2020

What we’re doing is looking at things like transaction history and geolocation, and other factors that will give us some confidence to underwrite credit into that demographic and help them build a history,” maintained Cagney. But a national charter would allow for a uniformity of presence and market scope.

Financial Inclusion 86

Financial Inclusion Office of the Comptroller of the Currency Blockchain OCC 86

PYMNTS

AUGUST 7, 2019

For FinTechs like Wise, working with traditional FIs means being able to “focus on adding value to small businesses, rather than reinventing the core-banking wheel,” Thyagarajan said, adding that the bank-FinTech strategy offers the “best of both worlds … next-gen business banking built on top FDIC-insured banking services.”.

Office of the Comptroller of the Currency 72

Office of the Comptroller of the Currency Payment APIs and Integration Federal Reserve Small Business 72

PYMNTS

JULY 25, 2018

In May of 2017, Financial Times reported that data released by the Federal Deposit Insurance Corporation (FDIC) showed the first sequential drop in outstanding car loans at commercial banks in at least six years. The move on the part of Cabot Square Capital comes at a time when big banks have been pulling back from the $1.2 trillion U.S.

FDIC 43

FDIC Underwriting Advisors Adjustments 43

PYMNTS

JANUARY 9, 2018

In July 2017, the Federal Deposit Insurance Corporation (FDIC) held a meeting with a group of community bankers which told officials about the competitive pressures they’re facing from FinTechs. The FDIC’s Advisory Committee on Community Banking offered a platform through which community bankers could highlight these challenges.

Community Banks 52

Community Banks FinTech Small Business FDIC 52

PYMNTS

JULY 14, 2020

percent annual percentage yield (APY), an optional auto-deposit, no fees or minimums, and security as “Affirm Savings is FDIC-insured and accounts are held by our bank partner, Cross River Bank, member FDIC,’” a statement said. The account comes with 1.30

Point-of-Sale (POS) 52

Point-of-Sale (POS) BNPL FDIC Issuers 52

PYMNTS

AUGUST 14, 2019

But these gripes still exist: Many banks often rely on a business owner’s credit score to underwrite a business loan, for instance, while business owners themselves will often use personal credit cards to make company purchases. Last October, the Federal Deposit Insurance Corporation (FDIC) released a report that suggested the U.S.

Consumer 48

Consumer Small Business Push-to-Card FDIC 48

PYMNTS

OCTOBER 11, 2017

There’s the OCC for national banks; for small state there is the FDIC; medium banks have the Fed and there is NCUA for credit unions. That is important, he said, because if there is any regulatory uncertainy, it becomes very difficult to underwrite or originate small loans. Banks need clear guidelines from a host of players.

Rules 43

Rules CFPB NCUA Credit Union 43

Finextra

JUNE 2, 2025

Even financial inclusion got a boost – lenders began using alternative data via open banking to underwrite those with thin credit files, and mobile apps brought services to those who were previously underserved. Innovation quickened as data silos fell, and consumers benefited from personalized, convenient tools built on aggregated data.

Finance 52

Finance Payment APIs and Integration API Regulations 52

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.

P2P 54

P2P Origination Underwriting Returns 54

PYMNTS

OCTOBER 30, 2019

BlueVine is launching its own banking solution for business customers, the result of its collaboration with The Bankcorp in a move that showcases the opportunity for FinTechs to launch banking services without having to obtain their own FDIC membership and licenses.

Payment APIs and Integration 41

Payment APIs and Integration Cross-Border Cross-Border Payments Small Business 41

Fintech Labs Insights

OCTOBER 14, 2021

The startup underwrites the care, not with credit history, but with cash in the bank. FDIC insured deposits ($250k). It’s a ridiculous number for a company with an estimated 20,000 clients ($370,000 per customer) but in a world where jpgs of apes sell for $2.4M who’s to say what’s overvalued. Free unlimited wires and ACH payments.

FDIC 15

FDIC Card Issuer Non-Bank Credit Cards 15

CB Insights

DECEMBER 4, 2019

The 2017 FDIC National Survey of Unbanked and Underbanked Households shows: Approximately 6.5% In June 2018, the Warranty Group, which underwrites Amazon Protect in the UK and abroad, was purchased by Assurant for a rumored $2.5B. US households, composed of 14.1M adults and 6.4M children, were unbanked in 2017. Approximately 24.2M

Online and Mobile Banking 101

Online and Mobile Banking Push-to-Card Payment APIs and Integration Non-Bank 101

PYMNTS

OCTOBER 1, 2019

Consumer, enterprise and SMB lending all ground to a near halt and underwriters across the spectrum struggled to regain equilibrium after a crisis in mortgage underwriting bloomed into a plague that destabilized the entire global economic system.

Consumer Financial Protection Bureau (CFPB) 54

Consumer Financial Protection Bureau (CFPB) CFPB Small Business Underwriting 54