Despite the volatility month to month on credit card debt, per government reports, the trend remains, generally, upward and to the right. And for consumers already shouldering that card debt, where historically high interest rates are a hallmark, even with recent interest rate cuts, personal...
Experian Consumer Services has launched a partnership with non-bank lender Oakbrook. The collaboration with the British firm, announced Monday (Oct. 7), will offer debt consolidation loans on the Experian Marketplace, using technology from Experian’s recent partnership with affordability software/payments firm Paylink. “Debt consolidation remains the number one reason customers...
Digital financial ecosystem MoneyLion adopted a new solution from Plaid that allows consumers to link their bank accounts and get pre-qualified for loans. When consumers share this information, lenders gain cash flow underwriting insights that enable them to offer credit options that are tailored to...
In small business lending — regardless of the size of the bank doing the lending itself — a high-touch approach and in-person visits to the branches are “key conduits” for extending credit, the Federal Deposit Insurance Corporation (FDIC) has found. In its 2024 Small-Business Lending...
Embedded lending options are proving to be critical lifelines for individuals and the smallest businesses — particularly in an uncertain macro environment marked by relatively high interest rates. “Many times in life, when you expect it least, … and you need availability [and speed] when...
The private credit market is booming — and has the potential to reshape lending, and risk, too, in financial services. Generally and conceptually speaking, the private lending market, estimated by the International Monetary Fund to top $2 trillion at present, offers a capital “lifeline” of...
Student loans account for a growing number of complaints service members and veterans make about financial products. While consumers in general began filing more complaints when payments for federally owned student loans restarted in October 2023, service members face some unique challenges, the Consumer Financial...
For every fragmented ecosystem, there’s a digital innovation being built and scaled to streamline it. The global syndicated loan market, a $7 trillion-plus industry where loans are extended by multiple lenders to a single borrower, is no different. These loans, often ranging from millions to...
The benefits of swapping analog, manual processes for digital ones are obvious. But that doesn’t mean they don’t bear repeating — especially against a backdrop of fierce demand for streamlined, efficient and customer-friendly financial processes. “Digital basically upends manual, paper-heavy and operationally cost-intensive processes,” Andrea...