A merchant that once represented a stream of transaction fees can now represent a lending relationship, and second-quarter earnings results show payments platforms putting more money behind that proposition. Block and PayPal and others already have a financial relationship with businesses, where lending extends that...
LendingTree has launched a ChatGPT plug-in that enables consumers to explore current mortgage and refinance rates through a natural conversation with the artificial intelligence assistant. Consumers using the ChatGPT plug-in can share their estimated credit score, state and loan amount to learn how those factors...
Financial connectivity platform Method has released a tool to provide lenders with ongoing post-origination monitoring. “Where other attempts at offering this product have relied on periodic data pulls, manual batch uploads or customers maintaining account connections, Method’s Portfolio Intelligence monitors continuously,” the company said in...
Two FinTech-bank acquisitions valued at a combined $499 million when announced have turned state interest-rate caps into an M&A issue, with substantial projected deal benefits sitting alongside a challenge from 20 state attorneys general. The attorneys general asked the Federal Reserve, Office of the Comptroller...
Growth can create a strange problem. A company gets bigger, but the payment and credit tools around it don’t always keep up. “The Emerging Middle Market: How Middle-Market Businesses Pay, Borrow and Scale” examines how five major industries manage payments, credit and cash flow as they...
Commercial credit decisions have long moved at the speed of the analyst: a new scorecard takes weeks to design, months to validate and another cycle to clear regulatory sign-off. Dun & Bradstreet says agentic AI can compress that timeline. The company announced July 6 that...
U.K. neobank Monzo has introduced an automated debt consolidation experience designed to make the process simpler for customers. The new offering relieves customers of the need to contact lenders, check balances and settle borrowing themselves, and it improves their access to consolidation loans by automatically...
Institutional investors are reportedly pumping billions of dollars into private credit funds. That’s according to a Monday (July 8) report from the Financial Times (FT), which noted that these major investors are hoping to profit from the departure of smaller retail clients. North American direct lending funds...
The Main Street Lending Program, which was authorized by the Federal Reserve in response to COVID-19, has seen 30% of its loans either experience a loss or be at risk of a loss, according to the U.S. Government Accountability Office (GAO). The emergency lending program made 1,830 loans totaling $16.6...