Rapid Finance and Mambu have partnered to provide a comprehensive Lending-as-a-Service (LaaS) offering. With Mambu’s loan management system (LMS) integrated into Rapid Finance’s Decisioneer loan origination system (LOS), they now offer lenders a seamless transition from loan origination to servicing, the companies said in a...
Banks expect to continue tightening lending standards across all loan categories through the rest of 2023. That projection comes after a quarter in which banks tightened their standards for loans to both businesses and households, the Federal Reserve reported Monday (May 8) in its “April...
Safaricom and Kenya’s Higher Education Loans Board (HELB) have partnered on a mobile wallet and a mini app. The new HELB Mobile Wallet will allow students to receive the upkeep portion of their student loans directly to their M-PESA account, while the HELB M-PESA Mini...
Credit offers consumers the flexibility to buy cars and houses and access college educations, yet data shows that 31% of U.S. consumers — about 80 million individuals — are on the outside looking in. PYMNTS’ research finds that consumers fall into two categories: the credit...
Businesses are reportedly finding it increasingly difficult to access credit. The trend could lead companies to reduce their investments and slow their growth, Bloomberg reported Friday (April 21). For small businesses, it’s more difficult than it’s been in a decade to borrow. Last month’s turmoil...
Instant disbursements adoption set records in 2022 and is anticipated to continue increasing in the near term. The only disbursements that consumers were significantly less likely to receive instantly last year were those in the borrowing category, including personal loan payouts and debt consolidation loans....
Driven by interest rates that, at least for the near future, the Fed hints will continue to rise, banks have reported the market value of issued loans are currently less than their balance sheet at the end of 2022. These declining loan values could put pressure...
Instant disbursements adoption set new records in 2022 — except in lending, where two-thirds of FinTech FI customers would eagerly pay extra for instant disbursements. LendingClub’s Anuj Nayar explains how lenders looking to move toward faster loan disbursements can lean into AI for both speed...
As inflation rises and recession looms, consumers are anxious about their finances. With 48% of consumers less likely to take out a loan since interest rates have increased, banks must provide an enhanced lending experience to stay competitive. Borrowers want a faster and more convenient...
