Menta Selects Agora to Provide Lending Platform to Credit Builders
Menta, a new fintech that is revolutionizing access to credit for underbanked consumers, has chosen Agora Services to launch its revolutionary lending platform for credit builders.
The underbanked segment represents over 100…
(LEAD) Online lenders report sharp increase in third-quarter net profit
(ATTN: RECASTS slug, headline, lead; UPDATES throughout with Kakao Bank earnings; REPLACES photo) SEOUL, Nov. 2 (Yonhap) -- South Korea's internet-only banks said Tuesday their third-quarter profits rose sharply on robust customer and…
naqvi: Haj 2022 online application process begins; Naqvi announces upgraded facilities
The online application process for the 2022 Haj began on Monday with Union Minister for Minority Affairs Mukhtar Abbas Naqvi announcing significant reforms and improved facilities for the pilgrimage. While announcing Haj 2022 at Haj House…
Cryptocurrency lending platform implodes in $130 million hack
On Wednesday, crypto lending service CREAM Finance was the target of a hack that stole over $130 million. This is not only one of the largest heists ever targeted on a so-called “decentralized finance” (DeFi) platform, but also the third…
Online application for publishers wishing to participate in the launches of the 53rd Cairo…
CAIRO - October 24, 2021: On October 24, the General Egyptian Book Organization began receiving applications from publishers who wish to participate in the upcoming Cairo International Book Fair .
…
Peppermint Gains Ground with Microloan Platform bizmoPay, as it Seeks Electronic Issuer License for…
The electronic issuer license, once approved, will allow Peppermint to provide loan services not only to registered bizmoto agents, but also to the entire Filipino population.
In July, fintech…
Texas Teachers launches new leveraged loan platform
The Teacher Retirement System of Texas is betting on the future of the leveraged loan market, anchoring a new investment fund platform managed by CIFC.The fund platform, called Texas Debt Capital, will be able to…
Student loan platform Credenc acquires content startup ObserveNow
Education lending startup Credenc has announced the acquisition of digital content platform ObserveNow for an undisclosed amount.
The company said in a statement that the agreement will "further strengthen relationships across all of…
All P2P Personal Lending Platforms Open Right Now
The peer-to-peer consumer credit market has seen an upheaval over the past 18 or so months with a number of exits and new entrants.
RateSetter left the space following its acquisition by Metro Bank. And at the end of 2019,…
Tamil Nadu TRB 2021 Online Application Begins for PG Asst, PE Director, IT Instructor Positions
The Tamil Nadu Teacher Recruitment Board (TN TRB) has launched the online application process for the recruitment for postgraduate assistants, physical education directors and computer instructor. Interested candidates can apply…
Finance and fintech associations support the fight against harassment of debtors by online lenders
FINANCIAL BODIES said they support a National Privacy Commission (NPC) crackdown on online lenders collecting excessive information from app users to use to shame applicants in cases of non-payment.
The Fintech…
The loan platform Jeff App, the Pakistani fund Truck It In bag in extension
In Singapore, we are looking to double our reporting team by the end of the year to comprehensively cover the rapidly changing world of funded startups and venture capital, private equity and M&A deals. . We want journalists who…
Online lenders warned about use of customer data
Louella Desiderio - The Filipina starSeptember 2, 2021 | 00:00
MANILA, Philippines — The National Privacy Commission (NPC) has again reminded online lenders that they are responsible for handling their customers' personal data.
In a…
Digital gold lending platform Indiagold raises $12m led by PayU and others
Indiagold will use the funds to scale the business and roll out its operations nationwide.
Indiagold offers gold backed loans, gold savings and gold storage services to consumers
The gold lending space in the organized market is largely…
4 online lenders banned, apps removed
The National Privacy Commission has ordered the immediate removal of four online lending apps (OLAs), JuanHand, Pesopop, CashJeep and Lemon Loan, to protect borrowers' data privacy rights.
Privacy Commissioner Raymund Liboro said…
PPP loans from online lenders pose high risk of fraud, study finds
At the time, businesses from beauty salons to dentists and restaurants were forced to lay off employees.To examine the potential for fraud in the program, researchers analyzed more than 10 million PPP loans that provided more than $780…
UPDATE: Online application for the P-EBT ends Wednesday, but you can still apply by phone or email
Although the online P-EBT application is closed for the 2020-21 school year, officials say parents can still apply by phone or email. (File photo by Adam Carr)
Parents can apply online to receive Pandemic EBT, or P-EBT, credits through!-->…
Indian lending platform KreditBee issues its first credit card
KreditBee, one of India's leading digital lending platforms, has entered the card segment today with the launch of 'KreditBee Card'.
The card provides unserved and underserved banking customers with fast and secure access to…
Student loan platform launches P7M fund for nurses – BusinessWorld Online
InvestEd.pha student loan platform for university students in the Philippines, has expanded its global nursing education funding initiative, which aims to support the education of 800 qualified nursing students in…
Cyberattack affects Illinois State Police’s FOID online request system | News
SPRINGFIELD, Ill. (WREX) – More than 2,000 FOID card accounts may have been connected by hackers using…
Online lenders cannot be allowed to charge ‘exorbitant’ rates: Delhi HC
DELHI High Court said on Tuesday that digital lending platforms cannot be allowed to charge an “exorbitant” rate of interest and observed that it expects the Center and the Reserve Bank of India to offer something to fix the interest rate.…
People think online lenders discriminate less against job applicants because of their race or…
ARLINGTON, Va., July 20, 2021 /PRNewswire/ -- According to new data from a survey conducted by Morning Consult on behalf of the Online Lenders Alliance (OLA), Black and Hispanic adults are significantly less confident than other adults in…
SC launches online application site for 2020-2021 bar exams
MANILA, Philippines — The Supreme Court on Thursday launched its online platform for candidates for the historic 2020-2021 bar exams, the first digital and localized licensing test for Filipino lawyers.
Associate Justice Marvic Leonen,…
Solving the Mystery of Abandoned Online Applications
As a credit union's engagement with its members and potential members increasingly happens inside digital channels, data models are beginning to reveal insights into a series of puzzling mysteries. One such conundrum is the persistence…
AVANA Companies Launch New LendThrive Lending Platform
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IDBI Intech Ltd., India's leading digital banking transformation…
SEC steps up campaign against illegal online lenders
The Securities and Exchange Commission (SEC) has issued a new warning against loan and finance companies that fail to register and disclose their online lending platforms (OLPs).
As it continues to weed out abusive PLO operators, the SEC…
Lendbuzz raises $360 million to expand its auto lending platform
US-Israeli auto finance startup Lendbuzz announcement on Wednesday it raised a $360 million investment round, including $60 million in a Series C round and $300 million in debt financing led by Goldman Sachs Bank USA.Wellington Management…
Online lenders will see a surge in business lending as Paycheck Protection Program ends
According to the last Biz2Credit Small Business Loan Index released in June. However, small bank approvals jumped from 18.2% in April to 18.7% in May."Small bank loan approvals rose 0.3% as banks begin to assess the favorable economic…
DeFi lending platform Alchemix suspends alETH contract after bug
advertising DeFi lending platform Alchemix suspended one of its contracts after a bug inadvertently allowed some withdrawals, which led to the vault becoming under-collateralized.
Alchimix is a rather innovative and complex platform in…
Sheriff’s Office Offers Online Application Process for Concealed Carry Permit | News
The Crawford County Sheriff's Office now offers an online application…
Banking news of the week
40% of Australians spend more on their pets than on themselvesIs 2021 the year of the online lender?Property prices rise across the board in MayWhat is a good credit score for a low rate auto loan?Finish the exercise in style4 things to…
Digital Asset Lending and Savings Platform Ledn Raises US$30M Series A
TORONTO--(BUSINESS WIRE)--Ledn Inc.. ("Ledn"), a global digital asset platform offering innovative savings and lending products for Bitcoin and other digital assets, is pleased to announce the closing of a 30 Series A funding…
Rescued by online lenders, businesses say they will borrow again
NEW YORK — Some small businesses forced to turn to online lenders to fight the pandemic are making these niche players a bigger part of their financial game plan and are even considering ditching their traditional banks altogether.Loans…
The Middlesex County Emergency Rental Assistance Scheme opens the online application portal today,…
The Middlesex County Emergency Rental Assistance Scheme opens the online application portal today, Monday 3rd May
Tenants in financial difficulty due to COVID-19 can request
financial assistance for rent and utilities
MIDDLESEX…
How to choose the right personal loan platform wisely
Digital lending platforms leverage the power of advanced technologies such as AI and data science, to provide personalized personal loans to people across the credit spectrum. Whether it's a vacation, a home improvement project, a wedding,…
Study: Minority businesses use online lenders, personal funds to shore up operations
Disparities in access to credit and capital for minority-owned businesses have led to lower levels of wealth, income and poor credit histories among black business owners, respondents said. Wiersch.
Due to credit barriers, 74% of…
How factory workers are turning the tables on China’s big online lenders
“My Sesame credit rating hasn't changed in three months,” Jiwei lamented, his voice betraying both bewilderment and frustration.Jiwei — to protect the identity of my research…
SBA’s PPP lending platform rejects some worthy companies. But there is a solution
By most accounts, this last cycle of the Paycheck Protection Program has been a much smoother process. During the now $284.5 billion relief package, the Small Business Administration has already approved more than 400,580 forgivable loans…
Three die from harassment by online lenders in Telangana; probe on
In Telangana, at least three cases of suicide due to harassment by money-lending app employees have been reported in the past month. Those who died include a 29-year-old technician, a 23-year-old farmer and a 28-year-old woman.…
How personal loans from online lenders can help this festive season
Fast, convenient, and requiring only basic documentation, online personal loans can save the day for cash-strapped people. The holiday season is already here in a big way. As is the case every year, bearing the expenses for Dhanteras,…
How can online lenders make your life easier?
Sometimes there are situations when it is not possible to repay the loan on time. Late payment or failure to pay a debt on time hurts your credit history. Banks do not give loans to people with negative credit histories, and if they do,…
Are online lenders safe?
Like other banks and financial institutions, online lenders must follow certain laws and regulations set by regulatory bodies. In particular, they must take steps to ensure that it is not beyond a borrower's means to repay a loan, as well…
SSS opens online application for retiree pension loan
Social Security System (SSS) retirees can now apply for the Pension Loan Program (PLP) online, the public pension fund has announced.In a statement on Saturday, the SSS said it had added a…
DBS Bank India unveils online lending platform for SMEs and offers credit up to ₹20 cr
NEW DELHI : DBS Bank India on Wednesday launched an online platform to provide loans to small and medium enterprises without hassle, with a credit facility of up to ₹20 crore.…
CLA and JAMPRO to Establish Online Application Platform | News
The Cannabis Licensing Authority (CLA) and the Jamaica Promotions Corporation (JAMPRO) are working together to establish an online platform to facilitate the authority application process.
Speaking at a recent Jamaica…
Online lenders reach historic settlement with Colorado
Colorado officials have reached a settlement with two online lenders and their partner banks, ending years of legal wrangling and providing a way forward for fintechs who have been reluctant to do business in the state.Under the agreement,…
Online lenders fizzle in crisis with On Deck agreeing to sell
Placeholder while loading article actionsMany online lenders were born during the last crisis. In their last test, they fizz.On Deck Capital Inc. said Tuesday night that it had agreed to sell for $90 million, nearly six years after an…
Online lenders warn SME loan scheme could miss the mark
Australia's online lenders have seen little uptake of the federal government's $40 billion small business guarantee scheme, raising concerns that the stimulus may not benefit small and medium-sized businesses.Only 15,600 business loans…
Online lender Upstart launches car loan platform
Online lender Upstart is launching an auto lending platform that it will use to make direct auto loans and sell to banks and other lenders.The software incorporates much of the same logic and data modeling as the platform used by Upstart to…
GSIS opens online application for National COVID-19 Emergency Lending Program
The Government Services Assurance System (GSIS) opened online applications Thursday (April 16) for its nationwide COVID-19 emergency loan program.
In a statement, GSIS said it has earmarked more than 30 billion pesos for the emergency…
Online lenders step up to fill vacuum left by banks during pandemic | Genetic marks
OOnline loans have been a controversial topic over the past few years. And with good reason. The industry, led by well-known names such as Fundbox, Balboa Capital and Lending Club, is frequently criticized - rightly - for the very high…
Committed late, online lenders still have to wait to help accelerate recovery
WASHINGTON — When the federal government opened its $349 billion small business loan program last Friday, startups that specialize in making such loans were eager to accept applications and send money to restaurants, gyms and hair salons…
Online lenders cut access to funds for small businesses
The credit squeeze presents a huge problem for countless small businesses that have gone out of business due to social distancing and are not generating revenue. Many have furloughed workers, but still plan to pay outstanding bills. But…
Biz2X Launches SBA Lending Platform for Banks to Start Lending
NEW YORK, March 30, 2020 (GLOBE NEWSWIRE) -- Biz2Credit, the leader in online financing for small businesses, today introduced Biz2X Accelerate SBAa platform that enables banks and other financial institutions to efficiently respond to the…
Personal loans: lenders or online banks
The lending market has changed considerably since the emergence of online lending platforms. Borrowers now have more options not only when it comes to loan products, but more importantly, when choosing a lender. For those looking to…
While the use of online lenders for small businesses remains the same, the familiarity increases:
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Data for today's episode comes from…
Online lenders face deepfake threat
Online lenders invite prey for scammers hoping to make a quick buck by disguising themselves as legitimate loan seekers from afar.A study conducted in October by LexisNexis Risk Solutions found that fraudulent attacks against digital…
How some online lenders are avoiding state laws to charge triple-digit interest rates: NPR
Online lenders charging triple-digit interest rates circumvent state laws prohibiting such loans. The money is funneled through banks that are not state-regulated to circumvent the rules.
AUDIE CORNISH,…
Online lenders target the middle class
SOUTH FLORIDA — With stagnant wages and a significant rise in the cost of living, America's declining middle class is often forced to close the credit gap — a cycle that can quickly spin out of control.
Since 2008, the middle class has seen…
NPC summons 67 online lenders over alleged privacy breaches
Louella Desiderio - The Filipina starOctober 5, 2019 | 00:00
MANILA, Philippines — The National Privacy Commission (NPC) has ordered 67 online lenders to explain alleged violations of data privacy law.
In an order issued yesterday, NPC…
67 online lenders summoned for shaming their customers
The National Privacy Commission (NPC) has summoned 67 online lenders for debt shaming their customers, choosing to contact them through newspaper publications after the agency was unable to identify their physical addresses.
The AFN…
Open source lending solution for online lenders and startups
introduction
Online lenders are quickly becoming the first port of call for lending and have garnered strong funding interest from VCs and PEs. This demand for a digital lending experience has also forced traditional lenders…
Online lenders to repay $16.9 million and stop high-interest loans to settle Virginia lawsuits…
Virginians burned by triple-digit interest rates from lenders pretending to be Indian tribes have secured promises that the companies will cancel their debts and repay $16.9 million to tens of thousands of borrowers across the country.The…
Small businesses are turning to online lenders much more often: Fed
Small business owners are turning to online lenders for financing far more frequently than they did even two years ago, the Federal Reserve Banks have found in a new survey.Last year, 32% of small businesses seeking credit used an online…
Worried about a looming recession, U.S. online lenders cut risk
NEW YORK (Reuters) - U.S. online lenders such as LendingClub Corp, Kabbage Inc and Avant LLC are reviewing loan quality, securing long-term funding and cutting costs, as executives prepare for what they fear to be the first economic…
The rise of online lenders for personal loans is overtaking traditional banks
Photo: iStock
According to the latest data from the Australian Bureau of Statistics (ABS), more and more Australians are abandoning the big banks and taking out personal loans from other lenders.
Banks continue to lose market share…
Online lenders charge minority borrowers significantly more, as do human loan officers
Online and human lenders earn 11-17% more profit on minority borrowers by charging higher rates to African Americans and Latinos, the study found. Black and Latino consumers pay 5.6 to 8.6 basis points higher interest on home-purchase…
Ellie Mae provides a customizable, branded and mobile online application
Today's Average Buyer is three times more likely to find a lender online than five years ago, and 60% of homebuyers plan to apply for and complete their home loan application completely online. To meet these expectations, Ellie Mae…
Online lenders challenge big banks
While the RBA leaves the cash rate on hold, new research has found the average home loan customer could save $82,000 by switching from a big four bank to a low-rate online lender.Comparison site RateCity urges home loan customers unhappy…
Small business lending platform Kabbage secures $250 million from Softbank – TechCrunch
Cabbagea company with some 115,000 customers and $3.5 billion in loans that built an automated platform to lend money to small businesses and individuals using a large set of data points to determine the score of credit from a…
Bond buyers forgive and forget, flock to debt from online lenders
The initial appeal of upstart online lenders was that they would disrupt traditional lending markets. But after big setbacks last year, companies are adapting to be a little more Wall Street and a little less Silicon Valley.Changes include…
How Lending Club differs from other online lenders
2016 was a difficult year for the San Francisco-based company loan club. Scott Sanborn, who took over as CEO and previously served as the company's chief operating officer, took drastic measures to get the company back on track. In less…
How these 2 quirky online lenders could help you get financing #FinanceYourBusiness
The following excerpt is from The Entrepreneur's Book Finance your business. Buy it now at Amazon | Barnes & Noble | itunes
nick david | Getty Images
If you're…
How Fraudsters Play With Online Lenders
Online lenders' speed advantage has exposed them to a growing problem: a type of fraud called loan stacking. People are taking advantage of the fast loan approval times offered by online lenders to game the system by applying for multiple…
Online lenders vs traditional banks
Opinions expressed by Contractor the contributors are theirs.
Small business loans have never been as varied as they are today. For business owners, this is a good thing. The explosive growth of the…
Do online lenders really offer lower mortgage rates?
You shop online, you save money. Almost everyone believes this and compares online stores. And these days, mortgage rates are also easy to buy online.It is convenient. Immediate. We are programmed to believe it.…
Online lenders seek to shape the industry before regulators
WASHINGTON — Online lenders are taking a cue from a familiar playbook in Washington as corporate scrutiny heats up.A central part of their strategy is to prove that the industry can tame itself without the need for additional government…
Broke? You Can Borrow Money From These Online Lenders – Broke? You can borrow money from…
Updated: July 17, 2016, 03:19 IST1/7Broke? You can borrow money from these online lendersRahul Sachitanand, ET OfficeA new generation of online lenders must prove that their businesses are more than a flash-in-the-pan online.Here are the…
The real flaw of online lenders LendingClub, OnDeck
The market turmoil earlier this year revealed deep flaws in the business models of online lenders. Although not all are equally vulnerable, they share a common problem: dependence on short-term financing.…
Latest threat to online lenders: “accumulation” of several loans
SAN FRANCISCO/NEW YORK (Reuters/IFR) - Many online lenders have failed to detect the "stacking" of multiple loans by borrowers sneaking into their automated underwriting systems, senior executives told Reuters. lending companies and…
Online lenders have turned these fees into a cash cow fintech startup loan
Fees paid by consumers for loans are proving a lucrative source of revenue for Lending Club and other online lenders. Lending Club charges up to 6% fitting fees based on its "proprietary model ranking," according to the…
Online lenders attract more attention from regulators
Online lenders, led by the Lending Club of San Francisco, have grown explosively over the past few years, lending billions to consumers who can quickly obtain large sums simply by filling out a few online forms.Now, state and federal…
Online lenders get pinched by market jitters
Recent market jitters are starting to hit online consumer lenders. As in other credit markets, consumer loan funding has felt the effects of investor uncertainty as the United States begins to move to higher interest rates and many junk…
Online lenders are overwhelming small businesses
Online lenders were meant to remake the small business financing market. Instead, they're tripping over each other to find new customers.Backed by billions of dollars in venture capital, so-called "marketplace lenders" have sprouted by the…
Why You Should Consider Online Lenders To Finance Your Business
If you are a small business owner looking for a business loan, you should consider an online lender. Although these creditors – companies like OnDeck, Lending Club, Prosper Loans Marketplace – currently represent only a tiny fraction of…
Online lenders offer a faster lifeline to small businesses
Online lenders have two advantages over banks: internally developed lending algorithms and models that they claim allow them to operate profitably in a market traditionally considered quite risky, and fewer regulatory constraints. Because…
What does the rate hike mean for online lenders?
Murat Giray Kaya | E+ | Getty Images The past half-decade has been a gold rush for new online lenders. As banks drown in regulation and the explosion of big data opens up space for more new entrants, a wave of web-based lending…
Alternative online lenders meet the financing needs of small businesses
BY KAREN MILLS
(Editor's note: This is the last in a series of four articles based on a Harvard Business School working paper by Karen Mills that analyzes the current state of availability of bank capital for small businesses.)…