BB&T made a $5 million investment in Enigma, a DaaS company headquartered in New York City. This is the first outlay of BB&T’s previously announced $50 million fintech commitment.
The Wall Street Journal reported that banks are increasing offers of consumer loans to individuals with poor credit histories to complete with fintech lenders.
According to a KPMG report, investment in U.S.-based fintech companies surged to $14.2 billion across 427 deals during the first half of 2018.
The Office of the Comptroller of the Currency will begin accepting applications for national bank charters from non-depository fintech companies engaged in the business of banking.
The SEC charged Michael Liberty, founder of the fintech startup now known as Mozido, with a scheme to trick hundreds of investors into investing in his shell companies instead of Mozido.
In the past decade, growth in financial technology has spawned a new generation of online lenders. These lenders use the latest technology to underwrite and finance small business loans. Customers can apply online and receive funding in 24 hours in some cases. ABF Journal Editor Nadine Bonner speaks with executives from three fintech companies that specialize in small business loans.
A new study from the ELFF reveals that fintech technology platforms present a disruptive force to the equipment finance industry, but will not become a competitor as a major source of equipment funding.
Euroloan Group appointed James Hickson, former Wall Street fintech leader, as group chief executive officer. Hickson most recently led a fintech technology business development practice at Morgan Stanley.
It is safe to say that over the past 10 years technology has completely transformed everything from the way we read to the way we shop. The lending business is not immune to technology’s disruption. G. Scott Paterson explains how embracing the fintech revolution will put lenders in a stronger position with their customers.