Colorado passed a law this week that could have a dramatic effect on the ability of fintech lenders to do business in the state.
Cross River Bank is leveraging its fintech customers to grow its payment transaction services; the firm has digital lending partnerships with 17 companies and is the issuing lender for some of the industry's top marketplace platforms; the firm's business relationships have helped to expand its payments system customers with many of its customers naturally migrating to Cross River Bank's payments system; the firm's CEO Gilles Gades says its payments activity could double next year with help from existing relationships with Stripe and Google Wallet providing access to Mastercard Send; in payments, Cross River currently manages approximately 2 million transactions per month and it sees a substantial opportunity for gaining more market share; industry participants are also watching Cross River Bank's plans for developing a newly branded bank called Almond Bank, which it has recently been investing in. Source
Everett Cook and Alex Wheldon launched Rho Business Banking in October last year dubbing it a “modern commercial banking platform”...
Digital wealth management startup Ellevest has joined the ranks of other fintechs who have made the move into becoming a...
The FDIC has proposed a potential set of standards and a certification program intended to make it easier for financial...
In this week’s PeerIQ Industry Update they cover the rising volatility in credit markets and the recent Q4 economic numbers; while at SFIG in Vegas PeerIQ shared comments from investors which show a lot of optimism and demand for MPL; they also talk about their recent product offerings and the continued push by banks to work with fintechs. Source.
Open banking and data aggregation have quickly become two of the biggest trends in financial services; Europe and UK regulators...
The largest online small business lender in the US is now PayPal having done $4 billion in loans in 2018;...
The FDIC has issued a Financial Institution Letter (FIL) offering guidance for its member banks with less than $1 billion...
The FDIC sent a letter to banks outlining problems they see with the current way vendor contracts are done; the...