Online Lending

PeerIQ Announces Partnership with Cross River Bank

February 20, 2018
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PeerIQ Lendit

Above: PeerIQ CEO Ram Ahluwalia speaks at LendIt in 2017 PeerIQ, the New York-based software company that provides analytics and risk management services to lenders, announced today a partnership with Cross River, a New Jersey State Chartered FDIC-insured bank. “Cross River is one of the most innovative banks I’ve seen,” PeerIQ CEO and co-founder Ram […]

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SoFi Personal Loan Performance Suffers

February 11, 2018
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SoFi sign

Above: A SoFi NYC subway ad hangs in February 2016. SoFi eventually ditched its ‘Don’t Bank’ slogan when it applied for a bank charter. It has since withdrawn that application A story in the Wall Street Journal last week reported that SoFi borrowers are missing their loan payments at an unexpectedly high rate. The emerging […]

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Don’t Forget About FastFlex

November 13, 2017
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FastFlex

The OnDeck-Chase partnership isn’t the only game in town when it comes to fast weekly payment bank loans. Wells Fargo announced their own program, called FastFlex, in 2016 as part of a goal to lend $100 Billion to small businesses over five years. deBanked was shown an anonymized bank statement snippet recently of a merchant […]

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From Ineligible to 0% APR – Los Angeles Company Monetizes Startup Leads, Combats Stacking

November 10, 2017
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Credit Cards

Merchants have no shortage of options when it comes to accessing funding in today’s climate. And while MCAs and loan products have become more pervasive, one company’s solution is to reintroduce traditional financing in a strategic manner. Seek Business Capital finds credit card offers and credit lines for the credit-worthy who may not be eligible […]

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Lending Club is Discontinuing F and G Grade Notes

November 7, 2017
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Lending Club IPO

Per Lending Club’s website, the company is discontinuing issuance of F & G grade notes. According to an announcement published by the company: We are consistently assessing the value our product delivers to our investors, and have noticed an increase in prepayment and delinquency rate in F and G grade Notes. We feel it is […]

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Catching Up With LendingPoint

November 6, 2017
Article by:

growth

At Money2020, we sat down with Chief Executive Officer Tom Burnside and Chief Strategy Officer Juan Tavares, both of LendingPoint, an online consumer lender we examined in the July/August magazine issue. Not mentioned in that story is Tavares’ background at Avanzame Latin America, a merchant cash advance company based in the Dominican Republic. Burnside, however, […]

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LendUp May Have a Leg-up

November 1, 2017
Article by:

Sasha Orloff

Sasha Orloff, CEO, LendUp deBanked recently sat down with LendUp CEO Sasha Orloff and COO Vijesh Iyer at an auspicious time. The company, an online lender that provides consumers with alternatives to payday loans and credit cards, is uniquely positioned in the wake of the CFPB’s 1600+ page Payday loan rule that was issued in […]

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Q&A With Noah Breslow On Replacing ACH For Realtime Funding and More

October 25, 2017
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OnDeck CEO Noah Breslow at Money2020 in 2017

An announcement by OnDeck, Ingo Money and Visa this week at Money2020 may be more consequential than it appeared. That’s because the partnership enables OnDeck to actually fund a merchant’s bank account (not their debit card) on days, nights, weekends, and holidays. Such a feature is not possible in the realm of ACH where funding […]

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ID Analytics Now Has 85% Visibility Into Online Consumer Lending

October 24, 2017
Article by:

money2020

At Money2020, deBanked caught up with Kevin King, Director of Product Marketing and Ken Meiser, VP of Identity Solutions for ID Analytics. The last time I crossed paths with the company was six months ago at the LendIt Conference in New York City. Since then, the company has increased its visibility into the online consumer […]

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Catching Up With Online Lending – A Timeline

October 21, 2017
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A timeline of alternative finance

This timeline is from deBanked’s Sept/Oct 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE 7/17 Online lender Upgrade, launched by former Lending Club CEO Renaud Laplanche, revealed it had already hired about 100 people Credit risk startup James closed $2.7M funding found led by Gaël de Boissard 7/18 – Former Bizfi COO Tomo […]

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