Fintech

LendingPoint Places Seventeenth on Inc. 5000

August 14, 2019
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Today Inc. 5000 released is 2019 list of the fastest growing private companies in America, featuring alternative finance company LendingPoint in seventeenth place after it witnessed a three-year revenue growth of 9,265%. LendingPoint offers consumer loans of up $25,000 and provides financing to merchants, service providers, and medical institutions via its LendingPoint Merchant Solutions program. This is […]

Canada Fintech Week Launches in Toronto

August 12, 2019
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This week sees the first ever Canada Fintech Week (CFW) in Toronto. Running from August 12th to the 15th, the four-day celebration of everything fintech in Canada features a slew of events and panels for those in the industry. Ranging from how to incorporate blockchain technology in Holocaust asset recovery to cybersecurity, to the future […]

Import/Export SMBs Introduced to Fintech Lending Options

August 2, 2019
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Early this week TangoTrade announced its partnership with the online lender Fundation. TangoTrade, which deals primarily in payment assurances for US small business importers and exporters, will now offer alternative financing to SMBs with the help of Fundation. The development is a reaction to the struggles faced by small businesses who engage in global trade. Sam […]

Chinese Funder MYBank Using Advanced Tech to Provide Capital

August 1, 2019
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MYBank, the largest non-bank funder in China, is using new technological systems to approve loan applicants. The company, which is backed by Alibaba founder, second richest person in China, and former English teacher Jack Ma, is now in its fourth year of operations and has thus far provided 2 trillion yuan ($290 billion) in funding […]

Maria Vullo Joins Emigrant Bank

July 31, 2019
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Maria T Vullo

Maria Vullo, who served as the Superintendent of New York’s Department of Financial Services (NYDFS) from 2016 to February 2019, has been elected to Emigrant Bank’s Board of Directors. As well as this, Vullo will be joining Emigrant’s holding company, New York Private Bank & Trust (NYPB&T). The move comes five months after the end […]

Ken Rees, CEO of Elevate, Resigns

July 30, 2019
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Ken Rees

Ken Rees, the CEO of consumer lending company Elevate, resigned on Monday. The announcement coincided with the release of the company’s Q2 financials in which Rees described the business as performing “extremely well.” Thus far, in 2019, we have already delivered over $19 million in net income or $0.43 per fully diluted share. We are […]

“Try Being Bored”: Amanda Parker’s Ascent To Top FinTech Recognition

July 19, 2019
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top women

“Fantastic and surprising” is how Amanda Parker, the Director of Innovation at FundThrough, described being selected as one of Canada’s Top 50 Women in FinTech last week. The list, produced by the Digital Finance Institute, aims to highlight those women whose contributions to and leadership in the FinTech industry have been influential. Among those who Parker […]

Canadian Lenders Association to Host Open Banking Summit on July 10th

June 27, 2019
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Open Banking Summit

The Canadian Lenders Association will be hosting its Open Banking Summit on July 10th at Dentons Toronto. It begins at 8am and ends at 11am. This is the third in their event series, and will tackle topics in Open Banking and Big Data in Canada. They will discuss how the industry can best work toward […]

Are The Bankers Taking Over Fintech?

June 27, 2019
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bankers in fintech

This story appeared in deBanked’s May/June 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE For Rochelle Gorey, the chief executive and co-founder of SpringFour, a “social impact” fintech company, mingling with industry movers and shakers at this year’s LendIt Fintech Conference was just what the doctor ordered. “I went mainly for the networking […]

Ocrolus Secures $24M in Series B

June 26, 2019
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Sam Bobley Ocrolus

A fresh logo and new company jumpers aren’t the only recent additions to the Ocrolus offices this month, as the business has secured $24 million in Series B funding. This development marks the $33 million point in investments for the automation platform. Led by Oak HC/FT, and backed by FinTech Collective, Bullpen Capital, QED Investors, […]

As New Regulations Sweep The Industry, Find Out Where The Next Big Opportunities Are

June 25, 2019
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what's next

Change is coming to the small business finance industry. Are new opportunities on the horizon? Be sure to find out when you attend one or both of these two great upcoming events! deBanked CONNECT Toronto | July 25, 2019 Less Than 30 Days Left! Tap into the vast opportunities in Canada. Meet the players, learn […]

Senator Elizabeth Warren Questions Federal Agencies About Discrimination in Fintech Lending

June 12, 2019
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Elizabeth Warren

Senator Elizabeth Warren and colleague Senator Doug Jones (D-AL) addressed a letter to multiple federal agencies this week to inquire about their individual roles in overseeing fintech, particularly as it pertains to potential discriminatory underwriting. The senators cited a UC Berkeley study that examined discrimination in the era of algorithmic underwriting. “With algorithmic credit scoring,” […]

CLA’s Credit Invisibles Event Kicks Off

June 5, 2019
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credit invisibles

The Canadian Lenders Association event kicks off today in Toronto. Hosted by Perc Canada and TransUnion at Blake, Cassels & Graydon LLP, this is the second in the series on “Credit Invisibles” and “Credit Deserts.” The CLA’s purpose is to support the growth of companies that are in the business of lending, or providing other […]

CFA Report Shows Increase in US Factoring Volume

May 30, 2019
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cfa chart

The Commercial Finance Association (CFA) recently published a report on asset-based lending and factoring which showed a 10.4 % increase in domestic factoring volume in 2018 compared to 2017. While the increase isn’t enormous, it is consistent with a gradual growth in factoring, according to Jeff Goldrich, CEO at Princeton, NJ-based North Mill Capital, which […]

Canadian Alternative Finance Event Calendar

May 28, 2019
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credit invisibles

Here’s what’s on the agenda this Summer for the Canadian alternative finance industry: June 5th Credit Invisibles Summit – Presented by the Canadian Lenders Association July 25th deBanked CONNECT Toronto – Presented by deBanked

Online Loans You Can Take To The Bank

April 16, 2019
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Loans you can take to the bank

This story appeared in deBanked’s Mar/Apr 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE OnDeck, the reigning king of small business lending among U.S. financial technology companies, is sharpening its business strategies. Among its new initiatives: the company is launching an equipment-finance product this year, targeting loans of $5,000 to $100,000 with two-to-five […]

OnDeck Takes Advantage of New Same-Day ACH Technology

April 12, 2019
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OnDeck NYSE

Same-day ACH is here, thanks to NACHA’s planned upgrade, and OnDeck, a small business lender, has already incorporated it into its platform. Shaleen Prakash, OnDeck’s Vice-President of Product Management, told deBanked: “We are hyper-focused to get customers faster access to funding that’s already been approved for them.” Small business owners can now access up to […]

Online Lenders Square Off, Offer The Kabbage In Brooklyn Food Court

April 10, 2019
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square pos

In a fast gentrifying section of Downtown Brooklyn, online lenders are waging a silent turf war. Each day, hungry consumers flock to DeKalb Market, a subterranean hipster food court where lunch and a drink can cost $17. The maze-like space with retro neon signs and rustic wood countertops offers a dizzying array of cuisines, and […]

Computers Continue to Fine Tune Underwriting

April 5, 2019
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algorithm

What’s the present role of computers in the underwriting process? “It’s faster and more accurate,” CEO of Kapitus Andy Reiser said of the company’s new AI process. “We get thousands of pages a day of bank statements, and we can digitally read it through [our system] and then manipulate that data and analyze it.” Co-founder […]

Top Minds in Fintech Came Together in Manhattan Last Night

April 3, 2019
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Fintech Disruption Forum

More than 200 people packed into a Manhattan office last night to hear panelists from top fintech companies discuss everything from Artificial Intelligence (AI) in fintech to U.S. regulations to diversity. The event, called Disruption Forum Fintech NYC, was organized remotely by a Poland-based software and technology consulting company called Netguru. This was their third […]