On Friday, the CFPB announced it was suing mobile peer-to-peer lending platform SoLo Funds for multiple issues. SoLo Funds targets minority and other underserved borrowers with short-term loans of up to $575. This is a challenging population to serve and a difficult niche to profit from. The CFPB alleges that SoLo Funds has misrepresented the cost of […]
Speaking at an event yesterday, CPFB Director Rohit Chopra said his agency is looking at “price gouging” in credit reporting. With credit reports required for selling mortgages to Fannie and Freddie, mortgage lenders have no choice but to pay for them. Some lenders have shared that the costs for credit reports have increased by up to 400% […]
Brazilian digital bank Nubank got off to a great start in 2024. The digital bank booked a $380 million net profit during the first three months of the year as it accelerated its pace of cross-selling and continued to expand its customer base. The Latin American fintech flagship, operating in Brazil, Mexico and Colombia, reported […]
Mobile payment rates, active digital bank users, and chatbot deployment are some of the numbers on the rise in a report from Alkami and Cornerstone Advisors. The Digital Banking Performance Metrics report compiles data from 81 financial institutions, including 39 banks and 42 credit unions, with an average asset size of $4.6 billion. Some findings […]
Access to the internet already seems something widely accessible and ordinary. Most of our daily activities, including remote work, communication with friends and relatives, payments, and more, depend on this facility. But is it as accessible as we think? You may be surprised, but only 66.2% of the population globally has access to the internet. […]
It has been a busy last few days for the CFPB and their fintech work. For the third consecutive day this week our lead story concerns actions taken by the CFPB. This time it is around BNPL. The CFPB is proposing new rules that would essentially lump BNPL in with credit cards when it comes to consumer […]
This episode is available in audio format on the Let’s Talk Loyalty podcast and in video format on www.Loyalty.TV. Today brings another exciting opportunity to discuss airline loyalty and share the story of the launch of Kris+ from Singapore Airline’s Kris Flyer program, specifically in the Australian market. Australia is the largest market for Singapore Airlines outside of its home base, […]
International Loyalty Awards winners announced for 2024 in the wonderful city of Dubai where tradition meets tomorrow, so fitting for the innovative line up on Finalist who joined us on Wednesday 24th April to find out who was crowed the ultimate winners. The loyalty community filled the ballroom at the One & Only Zaa’beel in […]
Summary report on Loyalty Connect Dubai 2024 and the International Loyalty Awards Two big events took place recently, one new and one tenured, but in a new location. Loyalty Connect Dubai 2024 was held 23-24 April 2024 in the World Trade Centre Dubai. And, for the first time, the esteemed International Loyalty Awards gala was […]
The Journey from Advocacy to Fandom: Elevating Customers to ‘Fans of Brands’ In an era where traditional marketing strategies evolve to meet the dynamic interplay between brands and consumers, the journey from mere customer advocacy to profound fandom highlights a crucial dimension of brand loyalty. “Fans of brands” not only advocate for their preferred brands […]