If you’re a lender, you have a fraud problem! Fraud is an unfortunate reality of every single lending business, because if your product is money, someone will try to steal it. As a potentially major component of a lender’s P&L, loan losses from fraud can be a costly issue. In fact, every $1 lost to […]
In a blog post yesterday describing their 2024 plans, we learned that X will be launching peer-to-peer payments later this year. We know that the company has been slowly obtaining money transmitter licenses as it builds out its payments capabilities. But this is the first time we have heard about concrete plans to launch a payments service. There was no detail […]
Small business lending is more complicated than consumer lending. Both have term loans and lines of credit but in small business you also have SBA loans, revenue-based financing, merchant cash advances, venture debt, equipment finance, invoice factoring, asset-based financing and more. This leaves a lot of room for unscrupulous lenders to charge hidden fees on […]
[Editor’s Note: American Banker had some inaccuracies in their coverage of this story so you should read their corrected piece here. Suffice it to say that much of the featured story below is inaccurate as we relied on American Banker’s initial coverage]. Fraud is going to be top of mind for all financial institutions in […]
Together with Provenir, we surveyed over 300 global decision-makers from a variety of financial services providers and fintechs to discover their key challenges and priorities in 2024 and beyond. We wanted to understand their risk decisioning challenges, customer management priorities, and confidence in the accuracy and flexibility of their risk models. We summarized the findings […]
After they famously imploded in March 2023, you could be forgiven for thinking that Silicon Valley Bank’s fintech business was done. Not so. This time last year SVB was still the go-to bank for fintech companies, with the vast majority of venture-backed firms as clients. That changed in March. In a fascinating update to start the year, […]
Argentina’s financial system, with a huge boost of fintech in recent years, is approaching full coverage of its population, its central bank said in a recent report. The rapid expansion of financial technology companies has played a pivotal role in addressing longstanding financial inclusion challenges in Latin America, particularly in countries grappling with large segments […]
When the CFPB released their long-awaited proposal on open banking rules in October there was cautious optimism from both banking and fintech groups. Fast forward two and a half months, when everyone has had a chance to fully digest the 299-page proposed rulemaking, there are many suggestions for improvement. With the 60-day comment period ending this week, the CFPB […]
Nick Christian, head of national fintech and specialty finance at Silicon Valley Bank, wants startup founders to know that his banking service – now a division of First Citizens Bank – is back in business and raring to go. With the family-run, North Carolina-based, First Citizens Bank holding $214 billion in total assets, $146 billion […]
Enjoying our podcasts? Don’t miss out on future episodes! Please hit that subscribe button on Apple, Spotify, YouTube, or your favorite podcast platform to stay updated with our latest content. Thank you for your support! Siddhartha Jajodia, U.S. CEO and Chief Banking Officer of Revolut Around the world, several digital banks have achieved impressive scale. But most of these […]