Plaid has launched a partnership with loan origination platform Algebrik AI. The collaboration, announced Monday (Feb. 4), will integrate Plaid’s consumer-permissioned data with Algebrik, allowing for easier identity verification, financial data access and better decision-making for lenders and borrowers. “Credit unions, a key focus of this partnership, stand to...
Ally Financial is reportedly cutting staff, ending mortgage originations and rethinking its credit card business. The company will lay off less than 5% of its workforce, Bloomberg News reported Wednesday (Jan. 8), citing a statement from an Ally spokesperson. “As we continue to right-size our...
Credit underwriting strategy can be an untapped competitive advantage for lenders. It turns out analytics can be used to automate and improve that too. To help financial institutions of all sizes customize their credit, pricing and fraud policies, the consumer and small business deposit and...
Banking technology firm Amount has introduced its unified account opening and loan origination platform. The new solution is designed to help banks and credit unions reduce costs, streamline operations and improve customer/member experience, the company said in a Tuesday (Oct. 15) news release. “According to a 2023...
August 20, 2024
Here’s the thing about fraud: You don’t want to have to calculate the ROI of fraud when it’s too late. Because the flip side can be treacherous. Unfortunately, the prevailing mindset of banks and other companies may be that they don’t have the resources to invest into those anti-fraud efforts unless they’ve been under attack. […]
February 20, 2019
LendingClub shares sank on guidance that missed the Street, but management said fourth quarter lending activity was strong across personal and auto loans, even as the macro environment moving forward...
April 17, 2025
SoFi has secured agreements that amount to a $3.2 billion expansion to its Loan Platform Business, which refers prequalified borrowers to loan origination partners and originates loans on behalf of third parties. One agreement includes a $2 billion extension of an earlier agreement for personal loans with fund managed by affiliates of global investment manager […]
February 03, 2025
Plaid has launched a partnership with loan origination platform Algebrik AI. The collaboration, announced Monday (Feb. 4), will integrate Plaid’s consumer-permissioned data with Algebrik, allowing for easier identity verification, financial data access and better...
January 08, 2025
Ally Financial is reportedly cutting staff, ending mortgage originations and rethinking its credit card business. The company will lay off less than 5% of its workforce, Bloomberg News reported Wednesday...
October 24, 2024
Credit underwriting strategy can be an untapped competitive advantage for lenders. It turns out analytics can be used to automate and improve that too. To help financial institutions of all...
