The promise of artificial intelligence is that, along with machine learning, it can solve real-world problems and change business for the better. Hicham Oudghiri, CEO of Enigma Technologies, said small business lending can be transformed with the aid of those advanced technologies — but only...
Visa, Froda and Lunar have partnered to launch a digital solution for business loans. With this collaboration, Nordic digital bank Lunar will be able to offer its small and medium-sized business (SMB) clients access to business loans via Froda’s embedded lending platform as well as...
Open Lending is expanding its car financing program to meet a demand for older vehicles. The Austin-based lending platform, which facilitates car loans, announced Thursday (Feb. 9) that it had increased its allowable age for vehicles from 9 years to 11 years old in an...
U.K. student loans and grants for living costs are set to increase by 2.8%. Yet, by the Department for Education’s (DfE’s) own admission, a 13.7% increase would be needed to keep pace with the increased cost of living. As the DfE summarized in an Equality...
Digital loan platform OppFi has introduced a same-day funding service aimed at underserved borrowers. The service lets qualified customers who apply and get approval by 1 p.m. on business days receive funding the same day, according to a Tuesday (Feb. 7) press release. “The same-day...
Rising delinquencies among subprime and near-prime borrowers reveal the strain of living paycheck to paycheck. In a spate of earnings reports these past few weeks, various lenders — banks and digital platforms among them — have spotlighted the fact that delinquencies and charge-offs are ramping...
Earnings season and PYMNTS’ own data signals the difficulty of keeping wheels on the road — literally. As economies reopen, many firms are returning to a hybrid model. Travel is returning to (and surpassing) pre-pandemic level. And as we make more trips to the store...
Capital One has launched a digital tool that helps dealers better understand consumers’ financial preferences upfront, creating a more transparent car buying experience. With the Navigator Platform, consumers can find a payment that works for them by specifying a down payment, trade-in and term length,...
Versatile Credit and American First Finance are now helping merchants reduce the risk of unnecessary credit checks. Their new deployment brings together Versatile Credit’s credit aggregation and customer acquisition tool and American First Finance’s technology that facilitates alternative financing and lease-to-own solutions, the companies said...
