The further education market is growing apace, and it should come as no surprise that the associated student loan business is capturing major investor interest. Launched in 2007, the U.K.-based startup Prodigy Finance recently secured $750 million in financing from North American investment giants, helping...
India’s FinBox unveiled what the company said is one of the country’s first account aggregators — systems that let potential borrowers prepare and upload one set of financial documents and then allow access to the online file from multiple potential lenders. FinBox systems connect lenders to...
JPMorgan Chase has acquired online college planning platform Frank, according to a CNBC report Tuesday (Sept. 21), adding tools to help more than 5 million students at 6,000 colleges and universities apply for and negotiate financial aid, enroll in online classes and find scholarships. JPMorgan...
Peach, a Software-as-a-Service (SaaS) loan management company, has raised $20 million in a Series A funding round, according to a press release on Tuesday (Sept. 14). The funding round was led by Canapi Ventures with participation from existing and new investors, including SciFi VC, Caffeinated...
LendingClub says it is expanding access to personal loans by extending the capabilities of its LCX electronic trading platform to include LCX Link. “This innovation opens access and removes friction for institutional platform investors, allowing them to automatically purchase, sell and settle loan transactions through LCX...
Chinese firm ByteDance, owner of video-driven social media sites TikTok and Douyin, is looking for roughly $4 billion in loans as its initial public offering (IPO) hangs in the wings amid the continuing government crackdown on technology companies in China, Bloomberg reported Wednesday (Sept. 8)....
China’s central bank is planning to provide 300 billion yuan, or $46.4 billion, in low-cost funding to aid banks in providing support for small- and medium-sized businesses (SMBs), according to Bloomberg on Wednesday (Sept. 1). The money will come from the state’s relending facility. And at...
Banks sitting on piles of cash are quickly easing lending standards for both consumers and small businesses in the second quarter as competition to extend loans heats up, according to Financial Times (FT) and data from the U.S. Federal Reserve. See also: Banks Soften First-Quarter...
Mastercard FinTech company Finicity on Thursday (Aug. 26) announced an expansion of its one-touch mortgage verification service, which will now be integrated into ICE Mortgage Technology, per a press release. The software integration allows borrowers to grant authorization seamlessly to ensure that lenders can obtain...
