Capital and Risk, Credit, Operational
July 26, 2024
Via: FinTech FuturesProfile says its Finuevo Suite covers “the entire range of financing processes”. It includes the core banking platform Finuevo Core, which “accommodates a wide range of banking products and operations”, and its digital banking platform Finuevo Digital, which “supports all required […]
June 11, 2024
Via: FinTech FuturesThe partnership will enable Apple’s customers in the country to access a range of financing options, including split payments of up to 36 months, or deferred payments of up to 30 days, when purchasing goods through its physical or online […]
June 3, 2024
Via: Insurance JournalKKR & Co. is considering entering the private credit market in Japan to provide an alternative to bank loans. “It will be a medium to long-term initiative,” Hiro Hirano, the head of KKR Japan said in an interview. “I think […]
Activity, Capital and Risk, Credit, Retail Banking
May 1, 2024
Via: FinTech FuturesA report by The Wall Street Journal this week says Barclays is the leading contender in the race to take over the programme, which specifically serves purchasers and owners of General Motors vehicles. Barclays previously went head-to-head with Goldman Sachs […]
Capital and Risk, Credit, Operational
April 16, 2024
Via: FinTech FuturesAs part of the deal, KBZ Bank will deploy the fintech’s credit modelling platform, CreditX, to “assess the creditworthiness of applicants across retail and SME products with higher accuracy and efficiency”. The AI-powered platform enables “real-time, paperless loan assessment” and […]
Capital and Risk, Credit, Regulations
March 19, 2024
Via: Banking DiveTwo fintechs, Biz2Credit and Womply, agreed to pay a collective $59 million to settle allegations they deceived small businesses seeking Paycheck Protection Program loans during the COVID-19 pandemic, the Federal Trade Commission said Monday. Biz2Credit and its subsidiary, Itria Ventures, […]
Capital and Risk, Credit, Regulations
March 8, 2024
Via: FinTech FuturesThe ruling has lowered the charge from its previous figure of $32, in a move that the regulator hopes will save account holders more than $14 billion a year while axing what it describes as business models founded on “penalties, […]
February 28, 2024
Via: FinTech FuturesThe deal with see the bank transfer the debt from its branded credit card programme in the US to Blackstone’s credit and insurance segments, which were consolidated last September. Barclays says the transaction is part of a move to release […]
February 22, 2024
Via: FinTech FuturesTemenos, which has recently been forced to refute allegations made by Hindenburg Research of client dissatisfaction and accounting irregularities, claims its Infinity system will provide the US private bank with increased operational efficiency and personalised customer experiences. Commerce says it […]
February 21, 2024
Via: Banking DiveOn Valentine’s Day, fintech Neon Money Club launched an app to help financially like-minded people find love. Potential suitors will find one unusual hurdle prior to swiping right, though: They must have at least a 675 credit score. The app, […]
Activity, Capital and Risk, Credit, Retail Banking
February 16, 2024
Via: FinTech FuturesThe partnership will see the bank adopt its partner’s embedded lending technology and credit intelligence network to induce a “second review” of a loan application should the applicant fail to meet its traditional lending requirements the first time around. A […]
February 15, 2024
Via: JD SupraThe CFPB’s announcement of a proposed rulemaking to remove medical bills from consumers’ credit reports, as well as the special focus placed on medical debt in its annual report, indicates that reporting medical debt will continue to be a priority. […]
February 9, 2024
Via: JD SupraOn February 6, 2024, National Credit Union Administration (NCUA) Chairman Todd M. Harper spoke at a Brookings Institution event to outline his regulatory agenda and supervisory priorities for 2024. His prepared remarks addressed the 90th Anniversary of the Federal Credit […]
Activity, Capital and Risk, Corporate Banking, Credit
January 31, 2024
Via: Banking DiveSellersFi, a global e-commerce financing and financial services company, is partnering with Amazon Lending to offer eligible sellers credit lines of up to $10 million, the companies announced Tuesday. CEO and co-founder Ricardo Pero said the credit lines are targeting […]
January 31, 2024
Via: FinTech FuturesThe facility builds upon a previous $250 million debt facility the fintech landed with Credit Suisse and Waterfall Asset Management in December 2022. Founded in 2016 and based in Los Angeles, USA, Sunbit provides a buy now, pay later (BNPL) […]
January 24, 2024
Via: Payments DiveThe Fed’s report documented the financial squeeze that creditors, especially low-income consumers, were experiencing in recent years, due to rent, auto and credit card payments. More than half of low-income (57%) and moderate-income (53%) consumers were rent-burdened in 2021, meaning […]
January 17, 2024
Via: Banking DiveA rule proposed Wednesday by the Consumer Financial Protection Bureau could reduce — to between $3 and $14 — the overdraft fees charged by banks with more than $10 billion in assets. Under the proposed rule, banks would classify overdraft […]
December 27, 2023
Via: JD SupraLast week, the CFPB released its twelfth annual report to Congress on college credit card agreements. The annual report is mandated by the CARD Act. The CARD Act requires mandatory reporting to the CFPB by card issuers on agreements with […]
December 18, 2023
Via: JD SupraOn December 15, 2023, the CFPB announced a settlement with a medical debt collector to resolve allegations that it violated the Fair Credit Reporting Act (“FCRA”), its implementing Regulation V, the Fair Debt Collection Practices Act (“FDCPA”), and the Consumer […]
December 1, 2023
Via: Payments DiveAs tech giant Apple winds down its partnership with investment bank Goldman Sachs, it will need to find a new card issuer to back its credit card. And given the size of the business, there’s a small pool of suitors, […]