Investment management giant BlackRock has inked a new agreement with financial services company LendingClub. This arrangement, announced in a news release Tuesday (Aug.) will see funds and accounts managed by BlackRock advisors invest up to $1 billion through LendingClub’s marketplace programs through next year. Clarke Roberts, senior vice president and...
The U.K.’s financial watchdog says lenders need to make online loan applications easier to understand. The Financial Conduct Authority (FCA) said Thursday (July 31) that a review found room for improvement to the online application processes to help potential borrowers make informed decisions on their finances. “Online and app-based...
Watch more: The Embedded Lending Shift: From Trend to Infrastructure Embedded lending can be a key driver for merchants seeking to enhance sales momentum across channels, but they need sophisticated infrastructure that enables sender coordination and optimized approvals for every credit profile. Meidad Sharon, founder...
RadCred added an expanded soft-pull pre-qualification flow to its online loan marketplace. The offering is meant to meet the needs of borrowers who have poor credit scores, the company said in a Friday (July 25) press release. The solution uses a soft credit check; shows...
Square is offering its working capital solution, Square Cash Advance, to businesses in the United Kingdom. “Whether a restaurant owner, retail merchant or beauty salon, fast and easy access to funds helps sellers manage daily expenses without delay and with no interest — just a...
Radcred has introduced a platform to meet a “rising demand for online payday loans.” The platform, announced Wednesday (June 25), offers same-day funding and soft credit checks for borrowers the company says have been historically overlooked by traditional lenders. “The new system aims to simplify access to small-dollar...
Crypto, in all of its forms, is poised to move more mainstream, blurring lines between traditional and decentralized finance. The GENIUS Act is gaining its share of attention this week, moving toward establishing a federal stablecoin framework amid news that the Senate passed the bill...
Wells Fargo reportedly expects consumer loan growth in the United States to remain flat or potentially decrease through the end of the year. “I wouldn’t expect large growth on the consumer side in any way, potentially even a net decline,” Wells Fargo Chief Financial Officer...
As tariffs loomed this spring, PYMNTS Intelligence found that obtaining financing was (and is) a difficult endeavor for smaller firms, which power the U.S. economy. Our surveys of small to medium-sized business (SMB) owners found that fully half of U.S. SMBs rely on their day-to-day...