Digital lender Upstart has become the latest U.S. FinTech seeking a banking charter. The company announced Tuesday (March 10) that it had applied to federal banking regulators the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to establish...
Chime has launched a product called Instant Loans that enables preapproved Chime members who receive direct deposits to their Chime Checking Account to access three-month installment loans of up to $500. These members are preapproved for a loan, notified of their eligibility within Chime’s banking app...
SoFi has finalized an agreement with Blue Owl Capital worth at least $5 billion. The deal with the asset manager, announced Thursday (March 13), will allow SoFi to expand its loan platform business, which refers pre-qualified borrowers to loan origination partners and originates loans on...
There have been pockets of momentum to curb interest rates charged for balances credit cards and for loans extended by FinTechs. But the impact may be one where lending is actually curtailed, particularly as a few states have sought to winnow down rates lenders can...
February 03, 2025
Credit products are changing, with personal loans, embedded finance, and buy now, pay later (BNPL) gaining traction. According to a PYMNTS Intelligence report, “BNPL and Embedded Finance Reshaping Consumers’ Credit Choices,” these options are reshaping how consumers manage everyday expenses and larger purchases, as more than half of consumers now use credit to buy groceries. […]
December 05, 2023
Artificial intelligence (AI) and machine learning (ML) are no longer emerging technologies. The innovations have officially arrived, and they are already having an impact around the globe – particularly within...
October 27, 2023
In the parlance of these times, and as earnings season commentary has pointed out, time and again: Consumer credit is normalizing. The question remains, however, as to what comes next....
August 29, 2023
Nearly 200 million in the United States hold at least one bank-issued credit card — a financial tool which has come in handy as inflation and higher costs continue to...
May 10, 2026
British FinTech Lendable is planning a U.S. expansion amid surging revenues. That’s according to a report Sunday (May 10) from the Financial Times (FT), which noted that Lendable doubled profits last year by providing more new personal loans than any other bank in the U.K. The company, which automates credit checks using artificial intelligence, saw […]
March 11, 2026
Digital lender Upstart has become the latest U.S. FinTech seeking a banking charter. The company announced Tuesday (March 10) that it had applied to federal banking regulators the Office of...
March 21, 2025
Chime has launched a product called Instant Loans that enables preapproved Chime members who receive direct deposits to their Chime Checking Account to access three-month installment loans of up to $500....
March 13, 2025
SoFi has finalized an agreement with Blue Owl Capital worth at least $5 billion. The deal with the asset manager, announced Thursday (March 13), will allow SoFi to expand its...
