American Express has historically focused on building their own products but the firm is now open to more partnerships to...
Scott Sanborn discussed the current market environment for online lending in his speech at LendIt USA comparing the industry to the growth of online retail and using Amazon as an example for how businesses can dramatically change and adapt to provide the best services for market needs; online lenders will have to be strategic in identifying market opportunities, building on their proprietary systems and partnering with other companies; Ash Gupta from American Express also noted at the conference the challenges and opportunities presented to online lending through the use of big data; the growing amount of data sourced by the industry has the potential to improve credit models and fraud prevention while also providing broader capabilities through machine learning technology. Source
Ramp is a credit card startup focused on corporate cards; the company is New York based, founded by a team...
In this week’s PeerIQ Weekly Update the company covers the recent spate of bank earning reports, securitization news and issues another round of hiring updates; banks have seen a continued drop in fixed income and commodities trading revenue, picking up the slack has been lending and wealth management; Citigroup and Morgan Stanley had strong reports while Goldman Sachs and American Express missed the mark; SoFi is issuing a $720mn securitization deal, Moody’s rated the A classes AAA; PeerIQ also lists five new hires stemming from the $12mn round last summer. Source.
Branchless banks have started to show their staying power when it comes to deposits in recent quarters even as they...
In this week’s PeerIQ Industry Update they cover the slowing growth rate of consumer credit which points to consumers being...
Here are the most read news stories from our daily newsletter today: American Express reportedly in talks to buy Kabbage...
A small group of American Express salespeople pushed credit cards on small business owners without adequate credit checks or through...
Banks are seeing some good early signs in repayments with a significant number of borrowers committing to restart normal payment...
PeerIQ released their Q4 2018 Lending Earnings Insights Report which points to a number of themes showing the economy is strong...