Consumers’ total outstanding credit increased by $8.9 billion in June, with a rise in non-revolving credit partially offset by a decline in revolving credit. Non-revolving credit increased by $10.6 billion during the month, while revolving credit declined by $1.7 billion, the Federal Reserve said Wednesday (Aug. 7) in...
Brazilian online marketplace Monkey Exchange has reportedly raised $11 million in new funding. As The Brazil Journal reported, the financing comes at a pivotal moment for the company, whose marketplace anticipates receivables from suppliers of large companies. New regulations, the report said, are expected to...
Swivel is now enabling its credit union and community bank clients to accept loan payments through Apple Pay. The FinTech has integrated its transaction enablement solutions with Apple Pay, Swivel said in a Thursday (July 25) press release. One special feature of Swivel’s integration with Apple Pay is...
Credit score solutions company SavvyMoney has debuted an offer automation tool for financial institutions (FIs). The offering, dubbed “Get My Rate,” is the first personalized offer automation tool created specifically for FIs, the company said in a news release Monday (July 22). “Unlike other conventional,...
Discover Financial Services plans to sell its $10.1 billion private student loan portfolio. The company’s Discover Bank entered into an agreement to sell the portfolio to one or more strategic partnerships made up of funds and accounts managed by global investment firms Carlyle and KKR, Discover said in a Wednesday...
eBay teamed with embedded finance platform Liberis to offer sellers working capital. Business Cash Advance is designed to provide eligible eBay sellers in the United States up to $1 million in working capital in as little as 24 hours, according to a Wednesday (July 10)...
Toronto-based lender Fig Financial says its personal loan service is now open to all Canadians. “We are providing a true alternative to banks for every Canadian who needs better lending options. And we are doing what the banks won’t: making this experience entirely online,” Francois...
Bank of Montreal is reportedly leading a group of underwriters launching a $2.55 billion loan to back the previously announced acquisition of Canadian payments processor Nuvei. The loan will have a seven-year term and will help fund the $6.3 billion leveraged buyout led by Advent International, management, Novacap...
When it comes to financial technology and payments modernization, there’s nothing like a seasoned veteran of the business for some perspective. Carl Pascarella, former CEO of Visa USA from 1993 to 2005, believes that the credit industry requires an upgrade. After following his time in...