Here in Colorado we had an initiative on the ballot last week to restrict payday loans to a 36% APR cap. It passed overwhelmingly because the general public does not want to support lenders who charge triple digit rates. The law goes into effect on February 1 and it likely means the end of the […]
Today’s News
- BBVA Completes Syndicated Loan Which Could Transform the MarketBBVA recently completed a syndicated loan with BNP Paribas and MUFG which would normally take about two weeks but was completed significantly faster; the loan was done using BBVA’s private blockchain based on Hyperledger; loan documents are stored on the blockchain, including the borrower’s request, a term sheet and the final loan agreement; this isn’t […]
- American Banker Interviews Digital Banking Pioneer Anthony ThomsonMetro Bank and Atom Bank founder Anthony Thomson sat down with American banker to talk about his new venture in Australia and digital banking overall; a big reason why people switch from a traditional bank to a new digital challenger is because they do not trust the bank to have their best interest at heart; […]
- Revolut Invests Heavily in Data Science and Engineering to Reduce FraudRevolut has spent the last year investing heavily in data science and engineering techniques to reduce the level of fraud for their more than 3 million customers; “What we can accurately display in ten minutes would typically take a large bank over an hour to establish with their current manual processes,” says Revolut Founder & […]
LATEST PODCASTS
Podcast 175: Jason Brown of Tally
Despite the growth of the personal loan business, and in particular debt consolidation loans, the total amount of outstanding credit card debt keeps rising and is now well over $1 trillion. We need more creative ways to solve this problem. Our next guest on the Lend Academy Podcast has taken a unique approach to credit […]
Podcast 174: Kathryn Petralia of Kabbage
The most downloaded episode of the Lend Academy Podcast in 2015 was my discussion with Kathryn Petralia, the Co-Founder and President of Kabbage. That was more than three years ago and a lot has changed at Kabbage and in the industry since then. Kabbage is one of the leading small business lenders in the country […]
Podcast 173: Stephanie Klein of Braviant Holdings
While the non-prime consumer lending space is less competitive than prime there are many companies doing interesting things. We heard the recent news of US Bank entering the space and just today I read that the CFPB intends to change the rules for payday lenders in the new year. It is certainly a dynamic space […]