News

First Business Bank’s accounts receivable financing team funded a $2.5 million factoring facility for a client operating as a smart bus platform.

The vast majority (94%) of financial service leaders are confident that their businesses are “digitally fit for the future” but doubts remain with 26% saying they suffer from “tech anxiety” when it comes to artificial intelligence and machine learning, according...

Banks must harness disruptive technologies and create their own or actively participate in digital ecosystems to remain at the heart of the banking universe, according to a global Economist Impact study.

Manufacturers Bank will change its name to SMBC MANUBANK as it expands into new markets and industries, highlighting its decades-long affiliation with Sumitomo Mitsui Banking.

Franklin BSP Realty Trust (FBRT) closed BSPRT 2023-FL10, an approximately $900 million managed commercial real estate collateralized loan obligation. This was FBRT’s 10th CLO completed since June 2017.

Värde Partners, a global alternative investment firm, raised nearly $1.5 billion for asset-based lending opportunities through The Värde Asset Lending Fund II and related accounts and co-investments. The firm received support from a global base of institutional investors.

Peoples Financial Services and FNCB Bancorp entered into a definitive agreement under which Peoples and FNCB will combine in an all-stock strategic merger valued at approximately $129 million.

Confidence in the asset-based lending market in the second quarter was driven by hopes of a soft landing for the U.S. economy, according to data released by the Secured Finance Network.

In the year ahead, 63% of 100+ advisors surveyed by Ninepoint Partners plan to increase their allocations to private credit, and 83% plan to increase exposure to alternative assets.

Altriarch Asset Management’s new structured capital investment strategy aims to provide flexible debt allocations to factors and asset-backed lending companies nationwide.