Articles by Todd Stone

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Ingo Money QuickConnect Allows for Push-to-Card Payments

December 14, 2018
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Lisa McFarland, Chief Product Officer, Ingo Money Yesterday, Ingo Money announced the launch of Ingo Money QuickConnect, a new solution that allows companies that issue payments – including loans – to disperse funds directly to a merchant’s debit card. Ingo Money has partnered with Visa Direct to facilitate these direct payments. This is the official […]

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The Funder: From Office of One to Eighteen in Under a Year

December 13, 2018
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Jay Avigdor

Not even a full year in business, Velocity Capital Group announced that it has secured $15 million in financing; $5 million in a series A, plus a $10 million line of credit. The entire investment comes from a family hedge fund in California, according to Jay Avigdor, Velocity’s President and CEO. Twenty-six year old Avigdor […]

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Trump Administration Criticizes Postal Banking Concept

December 9, 2018
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Post Office

Earlier this week, a Trump administration report diminished the idea of having the United States Postal Service take on the role of a bank. “Given the USPS’s narrow expertise and capital limitations, expanding into sectors where the USPS does not have a comparative advantage or where balance sheet risk might arise, such as postal banking, […]

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Factoring Still Slow to Modernize, Say Industry Leaders

December 6, 2018
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Robots

“There were no factoring companies online when we started [in 2013],” said Eyal Lifshitz, CEO of BlueVine. That may be true. Lifshitz has become a thought leader in the factoring world, known for creating a company, BlueVine, that introduced an online-only factoring product. When deBanked asked Lifshitz yesterday if he saw other factoring companies embracing […]

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OnDeck Expands Canadian Business with Merger

December 5, 2018
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Welcome to Canada

OnDeck announced today that it has entered into an agreement to merge its Toronto-based Canadian business with Evolocity Financial Group (Evolocity), an online small business funder headquartered in Montreal. OnDeck will have majority ownership of Evolocity and the combined entity will be rebranded as OnDeck Canada. “The combination of OnDeck’s Canadian operations with Evolocity will […]

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SoFi CEO Reiterates Company’s Low Appetite for Risk

December 3, 2018
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SoFi sign

In an interview late last week on Jim Cramer’s “Mad Money” TV show, SoFi CEO Anthony Noto said that when he took over as CEO in March, his number one priority was focusing on “quality of loans over quantity.” “We have really strong risk controls,” Noto told Cramer. “Knowing that the [changed] interest rate was […]

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Numerated to Improve Online Lending for Regional Banks

November 30, 2018
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becoming a bank

On Wednesday, Numerated announced that it had closed $8 million in financing, bringing its total to $17 million. Numerated is a platform that helps banks make automated credit and lending decisions. “We’ve seen a tipping point in the market, with banks across the U.S. focused on digitally serving their business segments and out-competing national and […]

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What We Learned About Credibly From Credibly’s Securitization

November 29, 2018
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mca vs loans credibly

Today, Credibly CEO Ryan Rosett told deBanked that the company’s October securitization will be used, in part, to roll out its new Market Expansion Product (MXP), which will allow Credibly to service merchants with FICO scores as low as 500 and those that have been in business for less time. “We believe the MXP will […]

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BFS Capital Announces New CEO

November 28, 2018
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Ruddock

BFS Capital announced today that it has appointed Mark Ruddock as CEO, effective immediately. Co-founder Marc Glazer, who has served as interim CEO since the departure of Michael Marrache earlier this year, will be Chairman. “I sense there is tremendous potential in this firm,” Ruddock told deBanked. “It has in its DNA an innate understanding […]

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IOU Partners with FINSYNC to Fuel Growth

November 27, 2018
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IOU Financial Website

Montreal-based IOU Financial announced yesterday that it is partnering with FINSYNC in an effort to improve their customers’ experience and broaden access to new customers. FINSYNC is a cash flow management software and platform that allows businesses to collect income, pay bills, process payroll, automate accounting, and access financing through FINSYNC’s Lending Network. “FINSYNC’s innovative […]

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