Private equity firm Bain Capital has reportedly sold a $448 stake in India’s Axis Bank. The company made the block trade Wednesday (Dec. 13), Reuters reported, citing a term sheet seen by the news outlet. Reuters notes that it wasn’t clear how much of a stake Bain had in Axis,...
The lending landscape is undergoing a system-level shift that promises to benefit both borrowers and lenders. FinTech innovations, and an evolving mindset within the industry, are combining to usher in a new era of underwriting methods that draw from alternative data sources and advanced analytics...
Paytm’s stock hit a two-year low Thursday (Dec. 7) after it changed its small-ticket loan policy and brokers downgraded its stock. The Indian FinTech had announced earlier in the week that it would make fewer small loans — those below 50,000 rupees, or $600 — in light...
The federal government has erased more than $127 billion in student loans since 2021. That debt forgiveness came from changes to existing programs, Bloomberg News reported Saturday (Nov. 11), freeing up some borrowers in spite of a Supreme Court ruling blocking President Joe Biden’s student...
LendingClub has crossed the $1 billion mark in personal loans sold through its Structured Loan Certificates Program (SLCLC Program) since the launch of that program in April. The company expects to double this volume to $2 billion over the next six months as it continues...
Meridian Leasing has added a new range of services to its offerings in the equipment financing industry. The new TrueFlex Finance line aims to provide complete flexibility to organizations of all sizes and industries, allowing customers to customize their equipment financing and acquisition strategies to suit their specific...
Figure Lending LLC and Figure Technologies announced Wednesday (Nov. 1) an expansion of their partnership business, which includes an increased offering under the Lending-as-a-Service (LaaS) platform. This expansion comes as Figure’s partnership business has experienced significant growth since the third quarter of 2022. One of the...
SoFi earnings lauded a surge in student loan demand ahead of repayments that resumed this fall, marking its highest quarterly pace of originations in more than a year. Earnings materials from the company noted that new membership momentum carried over into the most recent quarter...
U.S. Bank has introduced a tool that lets businesses offer consumer financing at point-of-sale. The lender’s Avvance offering, announced Tuesday (Oct. 24) is an “embedded, multi-channel point-of-sale lending solution” for businesses. According to a news release, Avvance lets shoppers pay over time with personalized loan options available during...
