Lending to consumers in Britain swelled in February, the most in five years, the Bank of England (BoE) announced Tuesday (March 29). The rise was fueled by credit card borrowing as consumers charged 1.9 billion pounds ($2.5 billion) last month. Of that number, 1.5 billion...
Until recently, offering that credit product has been easier said than done, involving finding a bank sponsor to handle compliance, risk modeling, underwriting — the list goes on. For any FinTech or B2B company looking to make its mark and build a niche offering, the...
Payments FinTech Opy has branched out into the automotive sector, offering its OpyPay product at franchised auto dealerships around the country, according to a Tuesday (March 22) press release. “After nine years in other counties, 90 days ago we went live with our first [buy...
Versana, a loan platform founded by four of the world’s largest banks, announced its launch Wednesday (March 16), saying it wanted to bring “transparency, efficiency and velocity” to the $5 trillion syndicated loan market. Founded by J.P. Morgan, Bank of America, Citi and Credit Suisse...
Most consumers have loan accounts with outstanding balances, and most of them manage those accounts online. According to “Account Opening And Loan Servicing In The Digital Environment,” a PYMNTS collaboration with Finicity, a Mastercard company, 61% of consumers have loan accounts with outstanding balances. Get...
Funding Circle has permanently barred new investors from its retail platform, the business lender announced Thursday (March 10). As the Financial Times reported, the decision was announced as the company shared its results, and is an indication of how the peer-to-peer (P2P) lending sector has...
Kueski has made nearly $1 billion in loans to one million costumers, the Latin American lender and buy now, pay later (BNPL) firm said in a news release Tuesday (March 8). “The $1 billion figure shows impressive growth, but the real impact we are having...
Nearly a year after the United Kingdom’s finance regulator banned Amigo Holdings PLC from issuing loans in the U.K., the tide is turning. The Financial Conduct Authority (FCA) announced Monday (March 7) that it will not block an attempt by the company that operates Amigo Loan...
Canadian FinTech lender Loanz is planning to launch in the U.S. while also expanding its Credit Box in Canada, which offers loans to low credit customers in Canada with starting interest rates of 9.9%. “The expansion of our brand into the USA, coupled with the...
