Though fraud technology has evolved to combat the monster of payments fraud, there is a growth threat for banks that innovators are also paying attention to as financial institutions (FIs) increase their appetite for such tools. Loan fraud is a less-discussed — but not less...
Online lenders in the U.S. including LendingClub, Kabbage, and Avant are gearing up for a slowdown in the economy and are taking a look at their risk exposure as they prepare for what they see as the inevitable. Reuters, citing interviews with half a dozen...
Avant is best known among its financial services peers as a FinTech firm, founded to throw automation and an artificial intelligence (AI)-enhanced underwriting process at the problem of creating accessible, affordable personal loans for consumers. Since its founding in 2012, the firm has specifically distinguished...
On Friday (Sept. 30), LendingClub officially closed the door on a two-year chapter in its corporate history that its current board and founding team would probably like to forget. Both the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) have officially ended...
October 02, 2018
Avant is best known among its financial services peers as a FinTech firm, founded to throw automation and an artificial intelligence (AI)-enhanced underwriting process at the problem of creating accessible, affordable personal loans for consumers. Since its founding in 2012, the firm has specifically distinguished itself in a crowded field of tech-based underwriters, with its […]
January 23, 2018
Very few consumers review the mortgage application process as a high water mark in their lives. Finding that perfect home can be fun and exciting – but for the majority...
November 21, 2017
Last week, we told you a tale of two Fed studies, which were putatively about the same topic, but drew nearly opposite conclusions. The first study, released last summer as a joint effort by...
September 26, 2017
Neither a borrower nor a lender be, the saying goes. Although in a perfect world that might be the way to live life, we live in a world far from...
April 15, 2019
Online lenders in the U.S. including LendingClub, Kabbage, and Avant are gearing up for a slowdown in the economy and are taking a look at their risk exposure as they prepare for what they see as the inevitable. Reuters, citing interviews with half a dozen online lenders, reported the companies are worried that a recession […]
August 15, 2018
Despite having the chance to apply for banking licenses with the Office of the Comptroller of the Currency, many online lenders are proceeding with caution. According to Reuters, the OCC...
April 26, 2018
Joseph Otting, Comptroller of the Currency, says that rules on short-term, small-dollar lending should be relaxed so U.S. banks are able to offer loans to cash-strapped consumers. According to Financial...
January 12, 2018
JPMorgan Chase announced Thursday (Jan. 11) that it inked a partnership with AutoFi, the FinTech auto lending company. In a press release, Chase said that AutoFi enables customers to choose...
