Citi Australia wants in on the burgeoning buy now, pay later market and is launching a new installment loan product with Kogan that will swap flat rates for interest rates, The Sydney Morning Herald reported on Sunday (Aug. 18). Following in Afterpay’s footsteps, the leader...
Please take out a loan. Stimulate the economy. We’ll pay you to do it. News came this week that Jysek Bank, a Danish bank that is among the largest in that country, is bringing to market what is being billed by publications such as The...
To broaden access to responsible credit with additional models, LendingClub has announced the rollout of its Select Plus Platform. The offering opens the company’s marketplace to sophisticated investors to find opportunities for approving borrowers who fall outside the current criteria, LendingClub said in an announcement....
A survey of bank officers published on Monday (Aug. 5) showed loan standards on commercial and industrial loans to both large and mid-sized firms during the second quarter of 2019 didn’t change, and standards were eased on smaller firms, according to a report by Reuters....
Following its disclosure that JPMorgan Chase would no longer originate new small business loans through OnDeck’s platform hosting Chase Business Quick Capital, shares in OnDeck fell 22 percent. However, the company will still function as a servicer for up to two years when it comes...
Proposed regulations would give small businesses in California the nation’s most extensive set of truth-in-lending protections for small business borrowers. The new rules were released on Monday (July 29) by the Department of Business Oversight (DBO) and seek to protect the state’s 4 million small...
Jack Ma’s MYbank is aiming to change the way China lends to small businesses. The 4-year-old bank uses real-time payments data and a risk-management system that analyzes more than 3,000 variables to allow borrowers to apply for a loan on a smartphone and receive cash...
Stifel Financial Corp. has announced the launch of a venture banking and lending business to provide debt capital financing and commercial banking solutions to growth companies and their investors. The business will target early stage startups through mature growth companies, with a focus on the...
One of China’s largest online wealth management platforms is leaving its peer-to-peer lending (P2P) business behind. Three sources have told Reuters that Lufax, which is backed by Ping An Insurance, will exit P2P due to tougher regulatory issues in China. While it is unknown when...
