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Alternative Finances
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3.8KLendingClub Lays Off 460 In Restructuring Plan
A third of online lender LendingClub’s workers will be laid off, the company said on Tuesday, April 21. That’s 460 employees, including...
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3.7KKlarna Posts $113M Loss
Klarna, a Swedish FinTech that allows customers to pay for items through installments, has posted its first annual loss after years of...
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3.0KDisrupting The Security Deposit With Insurance
Affordable housing in many American cities has reached crisis levels. For those looking for officially government-certified affordable housing, the average time on...
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3.3KLawmakers Eye Alternatives To Renter Security Deposits
Lawmakers across multiple states are considering legislation to reconfigure the often burdensome security deposit structure that adversely affects renters of less financial...
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2.7KCalifornia Grants Lending License To BNPL Platform Sezzle
Sezzle, the California-based alternative payments lender, announced Thursday that it was finally approved by the state’s Department of Business Oversight (DBO) for...
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3.1KIndian FinTech ZestMoney Raises $15M Led By Goldman Sachs
Bangalore-based FinTech ZestMoney has raised $15 million in a Series B funding round led by Goldman Sachs and existing investors Naspers, Quona...
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3.3KAfter The Disruption: Alt-Banking Goes Straight, Chases Bad Guys
As alt-banking matures and FinTechs mushroom, challenger banks are losing their cool “disruptor cred” and blending into the banking landscape. Not as...
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4.3KKlarna Chief Claims Six Million New Customers Per Year
The CEO of online split payments company Klarna, Sebastian Siemiatkowski, gave a lengthy interview to a news outlet about the future of...
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7.3KWhy P2P Could Soon Play A Leading Role In Middle East FinTech
When it comes to lending — to say nothing of the wider world of payments — innovation and disruption have been on...
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3.7KIndia’s Rapid But Rocky Transition Into Digital Financial Services
While much of the world is profoundly different at the end of this decade than at the beginning, there are few places...
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5.4KAfterpay CEO: How Alt Payments Are Altering Black Friday Spend
Shoppers looking for something a little unusual this holiday season when they head out on Black Friday will have no shortage of...
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3.1KMore Regulatory Trouble Could Be Heading Short-Term Lenders’ Way
Keeping track of the legal status of short-term lending in the U.S. – which encompasses financial products such as payday loans, pawn loans...
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5.6KOYO: Why Credit Could Be Key To US Expansion
India-based hotel and booking startup OYO has been on a tear lately, landing $1.5 billion in new funding, expanding to new markets and...
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3.9KWhy Migrant Workers Need Their Own Financial Services
According to the Bureau of Labor statistics, as of 2018 (the last full year for which data is available), there were 28.2 million...
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10.9KPayday Lending Laws Drive Traffic To Pawn Shops
While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of...
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9.4KPayPal Lowers Installment Credit Threshold To $30 – $99 Purchases
Consumers now have a range of promotional financing deals to choose from the online payments system PayPal that provides zero-interest installment loans...
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3.3KBuilding A Better Payday Lending Product
Short-term lending has something of a bad rap in the United States — consumer advocacy groups have long accused them of being predatory...
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6.0KFinServ Matchmaker SuperMoney Tops $2B In Loan Requests
Most people make big purchases not so much with the total cost of ownership in mind, but how much it costs them...
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4.1KState Regulators Investigate Payday Advances
The New York State Department of Financial Services (NYDFS) has announced it will lead a multi-state investigation into alleged violations of state...
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4.0KWhy Consumers Need Digital Banks To Be Better, Not Just Cheaper
Not having enough money can be a very expensive — a genuine problem for the more than two-thirds of all American workers...
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4.1KBringing Debt Management Into The Digital Age
“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”...
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4.1KPlaid Rolls Out Liabilities Tool To Track Student Loan Debt
Plaid’s core business is centered on helping make it easy for developers get up and running with financial apps. That mostly until...
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2.9KMicrolending Bridges Gaps For Recent Immigrants
Karla Ogaro was a certified pharmacist in the Philippines before emigrating to Canada. Mohammed Aly, also an immigrant to Canada, was a dentist who...
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4.1KCould Income Share Agreements Displace Payday Loans?
Income sharing is not a common method of financing as of 2019 — though, as of late, it has begun to get...
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4.4KStartup Helps Millennials Finance Rent, Move-In Expenses
In 2010 a small, obscure New York State political party grabbed a lot of viral attention with a video by its candidate for...
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9.1KThe Problems With Postal Banking
Last week presidential candidate Sen. Bernie Sanders and freshman New York Rep. Alexandria Ocasio-Cortez made a lot of headlines with the Loan Shark...
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3.5KHigher Fees Drive LendingClub’s Earnings Beat
Stronger-than-expected loan originations combined with increased transaction fees to push LendingClub’s quarterly earnings report past analyst expectations when the results went live...
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3.7KMax Levchin: What’s Missing From Today’s Financial Literacy Initiatives
By the numbers, Americans are not a very financially literate people. According to a Standard & Poor’s Global Financial Literacy survey only...
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3.9KIt’s Not Easy Solving For $1.5 Trillion In Student Debt
This week Democratic presidential candidate Sen. Elizabeth Warren managed to capture a lot of airtime — no small feat in a field...
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6.4KProsper Fined $3M By SEC For Overstating Returns
The Securities and Exchange Commission announced late last week that Prosper, the online lender, has agreed to pay a $3 million fine...
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12.5KCan A Poverty-Fighting Tool In Bhopal Work For Customers In Brooklyn?
Microlending is a relatively simple concept that can be complicated to evaluate. The theory behind it, pioneered by Nobel Prize-winning economist Muhammad...
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6.2KWhy AI Risk Tech And Banks Could Be A Match Made In Heaven
While most CEO stories are about having founded a firm to solve a problem, Upstart CEO Dave Girouard and his team of...
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9.9KWill The Consumer’s Next Bank Be Amazon, PayPal Or Walmart?
FinTech firms may not be the only ones that traditional financial institutions (FIs) need to keep an eye on. About six in 10...
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6.5KBuilding A Better On-Ramp For Credit Repair
Self Lender Founder James Garvey never thought he would go into financial services, and certainly never thought financial inclusion would become a...
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10.5KHas Alternative Lending Seen Its VC Peak?
In 2015, news outlets ran articles about the “gold mine” of venture capital investments in the alternative finance sector. The industry indeed proved...
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6.1KKPMG: Australia’s AltFin Sector Worth $1B
KPMG, an advisory and audit company, has released numbers that say Australia has a 32 percent share of the APAC alternative finance...
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4.1KHow Frank Wants To Help Students Stay Away From Debt
Much has been written about the student loan crisis in the U.S. There are now 44 million borrowers who collectively own $1.5 trillion...
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8.9KPayPal Hits £1B UK SMB Lending Milestone
PayPal said on Wednesday (March 6) that it has provided more than £1 billion in financing to small businesses in the United...
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5.9KHow POS Financing Can Make The Friendly Skies Much Friendlier
The family vacation to Disney World. The trip to a best friend’s destination wedding. The retired couple’s once-in-a-lifetime bucket list getaway. There...
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14.3KLevchin: Why The Affirm-Walmart Partnership Is More Than POS Credit
As we learned last week, purchase financing for Walmart customers is changing. In fact, the change has already begun and will continue to...
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7.1KWhat Smart, Conversational AI Adds To Credit Scoring
Traditional credit-scoring models have not had it easy in the court of public opinion over the last few years. The complaints vary in...
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21.5KNav CEO On Breaking SMB Financing’s ‘Black Box’
Starting a business in the United States requires being courageous, someone who embraces the idea of success as a long shot. In...
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17.1KHow To See The Customer ‘Beyond The Credit Score’
“What’s in a name? That which we call a rose by any other name would smell as sweet.” -William Shakespeare, Romeo & Juliet...
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5.8KAre Mortgages The On-Ramp For Lifelong Financial Management?
Of the scores of innovations and updates to consumer lending seen and written about over the last decade or so, speed is...
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6.3KPetal Raises $30M To Expand Credit Card Biz
Petal, the New York-based FinTech that makes a credit card for consumers just starting out, announced Tuesday (Jan. 29) that it raised...
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7.1KChanges On Deck For The CFPB’s Payday Lending Rule
Could it be that the CFPB, under new Executive Director Kathy Kraninger, will be moving directly to eliminate the more controversial provisions of...
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7.3KBuilding A Bridge To The Homeless With Breadcoin
Washington, D.C. is both a rich city and a poor city. Filled with federal workers and contractors, the nation’s capital has a high...
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6.5KAltFin’s Bumpy Ride Into An Uncertain 2019
“It was the best of times, it was the worst of times…” -Charles Dickens, A Tale of Two Cities Charles Dickens’ famous...
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8.2KAffirm’s Levchin On Changing The Consumer Credit Conversation
The conversation about credit in the U.S. has become one of extremes. There is a growing chorus of voices that eschew credit...
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10.8KMerchant Cash Advance Firms In NY AG’s Crosshairs
The NY AG is looking into how state courts are a weapon against small business owners, who sign documents that allow merchant...
