The short-term consumer lender has originated over €5bn ($5.8bn) since launching in 2008; the company has focused on markets in Europe and the Americas; the company’s mix of funding sources includes bond issuance and bank deposits from the acquisition of TBI Bank; Moody’s also recently upgraded their corporate rating from a B2 to a B3. Source.
Buy now pay later startups like Affirm have seen a big boost in activity since the crisis began; “We see...
Affirm has struck a partnership with Shopify to power their buy now pay later product; “We’re super excited to be...
The CEO of online consumer lender Aura, James Gutierrez, has stepped down from day to day operations in order to...
While banks might have been a bit slow to react to online lenders they are certainly taking notice today and changing how they operate; fintech companies originated about 30 percent of unsecured consumer loans in 2016 according to TransUnion, up from 1 percent in 2010; banks have started to take notice and compete with fintech companies head on and in some cases partner with them as well; banks hold significant advantages over online lenders in cost of capital and customer acquisition costs which could erode that 30 percent market share that fintechs have built. Source.
The crypto lending industry has been able to show some significant growth even as cryptocurrency prices have tanked in the...
Consumer lending Platform Affirm is looking to move beyond lending and into the financial advice space; currently Affirm works with retails to offer consumers a credit option when making a purchase; they are exploring ways to help customers better understand their debt and offer a way to help them reduce interest payments; Affirm has lent over $1bn to date Source.
Consumer lending fintech Affirm (ticker: AFRM) went public on the Nasdaq Wednesday and saw their stock take off. Shares were...
American Banker shares a slideshow of the various moves banks have made in consumer lending this year; some banks featured include Barclays, PNC, Capital One and TCF. Source
There is sure to be a growing consumer debt issue when the government assistance finally ends and banks are starting...