Yesterday, Prosper reported their Q2 2018 results. The company facilitated $867 million in loans for the quarter, up 12% from the prior year period. Prosper reported a net loss of approximately 12.6 million. While this is significantly better than the prior year period of $41.4 million, their losses increased slightly from the first quarter ($11.4 […]
Today’s News
- Fintech Companies Providing Options for Subprime ConsumersThe subprime consumer has traditionally had few good options when it comes to credit. But with fintech companies like LendUp, Fair Square Financial and Elevate Credit focusing on the segment there are more responsible credit options for this population than ever before. While banks like Capital One have a large portfolio of subprime credit cards […]
- New Lending Option Available for Lower Income StudentsThe student loan refinancing space has been dominated by companies like SoFi and CommonBond who are focused on students with high future earning potential. But for many students, who will never qualify for a loan from those companies, a funding shortfall can be the difference between graduating and dropping out of school. New fintech startup […]
- What is Behavioral Biometrics and Who is Using ItBanks and retailers are increasingly using behavioral biometrics; the technology tracks how user’s type and scroll both on desktops and mobile devices; these unique gestures can be useful in combatting fraud; while some are leveraging the technology to simply discover automated attacks, others are building millions of profiles that can identify customers; The Royal Bank […]
LATEST PODCASTS
Podcast 162: Sasha Orloff of LendUp
It is curious to me that 56% of the adults in this country are classified as subprime. Yet, most lenders are focused on prime or near prime consumers. Improving the financial health of the subprime population is clearly a bigger problem but also one that can potentially have a bigger reward. Our next guest on […]
Podcast 161: Everett Sands of Lendistry
For most of the last century small business lending was primarily a local endeavor. Entrepreneurs would go to their local bank to apply for a loan. The bank manager or loan officer would, of course, gather the financials of the business but they also knew the entrepreneur personally, knew how their business was going and […]
Podcast 160: Cecilia Frew of Visa Direct
It is curious to me that in 2018 banks are still processing transactions in batches. The ACH system, created in the 1970s, is still the primary way that money is moved around between banks and these transactions are processed in daily batches. Visa Direct wants to replace that antiquated system. Built on the Visa rails […]