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LendIt Fintech News: Daily Coverage of Fintech & Online Lending


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Webinars this Week: Roadmap Back to Growth, Every Company is a Fintech and Debt Collections

We have three great webinars on tap this week covering the most pressing issues in fintech and digital banking today.

August 24, 2020 By Todd Anderson 1 Comment

Views: 154

Recovery, Re-Boot, Resilience: Roadmap Back to Growth

August 25th at 2:00 PM ET: Register Today

Banks, Lenders and FinTechs have spent the last months responding to the crisis. From office closures, the CARES Act and resulting economic impact, it feels like we have been in a constant state of reaction to market events. When will the shift from reaction to proactively accepting this new normal happen? What does the path back to growth look like? In this webinar, you’ll hear from a panel of industry leaders at Mascoma Bank, BCU, Zions Bank, Upstart and Salesforce how they are prioritizing and accelerating their roadmap to grow in the next normal.

Every Company is a Fintech Company

August 26th at 3:00 PM ET: Register Today

There has never been a more important time to build financial products that are fair and have the customers interests in mind. Fintech has come a long way in the last decade and it is now delivering on its promise.

This panel will examine opportunities for companies and lenders to create new products that utilize financial data to help underbanked people in the U.S.

How to build resiliency against credit losses – Intelligent strategies for Debt Collection in the new normal

August 27th at 11:00 AM ET: Register Today

With the ongoing crisis affecting delinquency rates, banks and financial institutions cannot rely on conventional methods to improve collections without affecting customer experience. Can banks make existing debt collection processes more intelligent with AI?

This webinar will discuss how collections teams can be empowered with AI enabled risk segmentation, early prediction of delinquent accounts; and suggested treatment plans based on risk segment, which helps them improve efficiency and customer experience.

Filed Under: Fintech Tagged With: Afterpay, Baxter Credit Union, Business Insider, Capital One UK, EdgeVerve, Mascoma Bank, OnDeck, Plaid, Prosper, RMAI, Salesforce, Upstart, webinar, Zions Bancorporation

Views: 154

Webinar on Building a Resilient Lending Program

A fascinating webinar will be taking place today to discuss how to build a resilient lending program during these challenging times

August 11, 2020 By Peter Renton Leave a Comment

Views: 93

Lenders of all kinds have been impacted by the pandemic. We have seen many of the consumer lenders reduce originations dramatically due to a lack of both borrower and investor demand. We have seen small business lenders upended by the crisis as all lending was funneled through the Paycheck Protection Program. So, how do you build a lending program that can withstand such shocks?

Today at 2pm ET, I will be talking with several leaders in the space to discuss this very topic. You will hear from:

  • SriSatish Ambati – CEO at H2O.ai
  • Dawn Gillette – SVP Fintech Partnerships and Specialty Lending at NBT Bank
  • Abhinav Anand – Head of Consumer Lending at Marcus by Goldman Sachs
  • Sam Sidhu – Vice Chairman and COO at Customers Bank

This webinar is open to everyone, courtesy of H2O.ai, and we will be discussing the following topics and more:

  • How should a lender think about creditworthiness under evolving circumstances?
  • What new elements should be taken into account when making lending decisions?
  • Are there techniques that companies can use to build more resilient lending programs and get back to business?

Please join us online today for what, I am sure, will be a fascinating session.

Filed Under: Fintech Tagged With: Customers Bank, H2O.ai, Marcus by Goldman Sachs, NBT Bank, webinar

Views: 93

Upcoming Webinar: How Increased Engagement Will Impact Fintechs and Digital Banks

Our next webinar will dive into how fintechs are handling the rapidly changing environment related to customer engagement

April 23, 2020 By Ryan Lichtenwald Leave a Comment

Views: 126

LendIt Fintech continues to connect the fintech community during these challenging times. In partnership with Plaid, our next webinar will focus on how increased engagement will impact fintechs and digital banks.

This webinar is free to attend and will feature:

  • Niko Karvounis, Product Lead, Plaid
  • Colin Walsh, CEO & Founder, Varo Money
  • Brandon Krieg, Co-founder & CEO, Stash
  • Moderated by Bo Brustkern, Co-founder & CEO, LendIt Fintech

With customers unable to go to bank branches, they are left with only one option but to interact digitally with their bank. This means it’s game time for the digital banks as customers look for the best products in the market. Some companies are facing an unprecedented amount of signups and it is paramount that they be able to deliver services.

Some topics that will be covered include:

  • How is customer behavior changing?
  • Do startups have the infrastructure to handle the increased load? Is your company making technology changes?
  • Will they be able to offer the same type of service if they needed to cut staff themselves?
  • Can they perform at a higher level than banks and keep customers they acquire through the bad times?
  • Deposits at traditional banks jumped significantly since January. Why is this happening and how does this news fit in with increased demand for your products?
  • What do the next 12 months look like? Are digital offerings going to be seen as heroes?
  • How is Varo Money handling the Moven transition?

Time: Tuesday, April 28 at 2 PM ET

Register Now

Filed Under: Peer to Peer Lending Tagged With: customer engagement, Plaid, Stash, Varo Money, webinar

Views: 126

How Lenders Can Mitigate Fraud in Challenging Times

A recap of last week's webinar on Consumer, Paystubs & Fraud: Insights & Digital Solutions

April 7, 2020 By Todd Anderson Leave a Comment

Views: 214

Lenders are facing some extraordinary times right now as they try to prepare for the months ahead. Underwriting risk has become almost impossible and fraud is bound to surge as desperate people look to all options for survival.

Last week we hosted a webinar that was presented by Equifax which featured their Director of National Accounts, Chad Gray. The conversation centered around fraud as it relates to paystubs and other key underwriting data. Uncertainty has only increased the amount of anxiety lenders are feeling and with unemployment skyrocketing they will soon wonder if any applicant has a job.

Loan applicants are required to fill out a lot of different forms and add a lot of personal data in order to acquire funding. Within these different data sets consumers might inflate or misreport their income as is the case with mortgages for example. Knowing the red flags will help to identity fraudulent data quickly so the lender can accurately assess the risk of that borrower.

It has become pretty simple to make fraudulent paystubs, as according to Equifax there are more than 160 websites that help create paystubs. Some of these sites can also falsify bank deposit forms, bank statements and W2’s. Making a change in your application from estimated income to verified income could make a huge difference for the lender.

Equifax’s Work Number Database enables employers to update the payroll data every pay cycle which provides lenders with the most up to date income data on a borrower, thereby eliminating the need for paystubs at all. The company has amassed more than 500 million total records with more than 500,000 employers contributing. The Work Number can be used throughout the loan cycle which gives lenders a deeper understanding of their borrowers.

As uncertainty continues in the near term a tool like the Work Number can help lenders better asses risk and cut down on potential fraud. Lenders using the Work Number saw a 40 percent increase in conversions to closed loans.

If you’re interested in listening to the entire webinar you can access the recording here.

More from LendIt Fintech

Our next webinar is called COVID-19 Planning for Fintech: 5 Ways to Maximize Efficiency with At-Home Agents on Thursday April 9th. As the effects of COVID-19 become more widespread and impactful, many fintech leaders are considering having some, or all of their contact center agents, work from home. Join Jennifer Kuechler of Strategic Link Consulting, Stephen Picciotto of ARB Call Facilities, and Jason Swift of Marlette Funding with moderator Jim Lynch of LiveVox.

Filed Under: Fintech Tagged With: credit and underwriting, Equifax, fraud, webinar

Views: 214

Fintech Lenders are Ready, Willing and Able to Help Small Businesses

A recap of yesterday's webinar on how fintech lenders are responding to the crisis in small business

March 27, 2020 By Ryan Lichtenwald 1 Comment

Views: 629

Small businesses are the lifeblood of America and so many are struggling right now. But fintech can really make a difference here. This is why we made it a priority to focus on small business lending as the topic of our first webinar in our recently announced digital offerings. In the coming weeks you can expect more content, not just webinars but online town halls, workshops and roundtables. In these rapidly changing times we will help you make sense of it all by bringing the leaders in financial services together for learning and discussion.

On to a recap of yesterday’s engaging webinar. Not surprisingly, we heard across the board that call volume into small business lending platforms has increased dramatically as customers look for help and clarity on where they stand. Kabbage, Lendio and Opportunity Fund have all managed to switch to a fully remote workforce and continue to serve small businesses who have much different needs than just a few weeks ago. Kathryn Petralia of Kabbage and Luz Urrutia from Opportunity Fund shared the direct lending perspective while Brock Blake of Lendio shared the perspective of a small business lending marketplace.

Blake spoke on how both lenders and investors are thinking about the current market. From the originator side, around 50% of non-bank lenders have paused originations. There are also some investors who are in a position where they can safely hold on to capital until the situation plays out. The conversations they are having with small businesses spanned from those seeking additional capital to others who are in perhaps a more financially stable situation that are looking to pay off current loans to decrease risk.

The most important topic of conversation was the discussion around this week’s government stimulus package (called the CARES Act) that includes $349 billion in loan guarantees for small business. This is going to result in a tsunami of loan applications as any business affected by the coronavirus will be eligible for a loan. The Small Business Administration (SBA) is working with severely outdated technology and they were never set up to handle this kind of loan volume. Outages are plaguing the system already as small businesses are applying for financing before the stimulus package is signed into law. Fintech companies are ready, willing and able to help and really need to be an integral part of this program if the money is to reach small business owners in a timely fashion.

There are also aspects to consider regarding the SBA loans themselves. These are loans that will be guaranteed by the government with funding supposedly provided to the lender in short order. Although, it is possible that the SBA could end up providing the capital directly, that is unknown at this point. The loans will carry a 3.75% interest rate and a 10 year term but a portion could be forgiven down the road. The loans are a flat rate for everyone (there is no risk-based pricing) as they are designed to help any affected small business get back on their feet. Of course, probably the most important aspect of these loans is the speed in which this money reaches small businesses. Guesses from our panel ranged from an optimistic 10 days to three or four months, a time period which would be devastating to many small businesses.

While we are in challenging times it’s not all doom and gloom. Luz Urrutia shared an uplifting story of how a restaurant client is helping provide food for school districts that are closed. Brock Blake spoke about how he is seeing the fintech community come together to solve new problems. More conversations are happening and companies are stepping up to see how they can help others navigate the current situation. We’re also likely to see innovation and long term improvements to small business lending. Petralia spoke about how her fellow co-founder Rob Frohwein came up with the idea to let consumers purchase gift cards to small businesses. Within days the company set up the landing page for ‘Help Small Business’, an offering to help small businesses that are closed generate new revenue.

If you’re interested in listening to the entire webinar you can access the recording here.

More from LendIt Fintech

Our next webinar is called Consumer, Paystubs & Fraud: Insights & Digital Solutions on Tuesday, March 31. Sign up here to join us as Chad Gray, Director National Accounts at Equifax, will discuss the red flags associated with consumer provided pay stubs,
the money that consumers don’t tell you about, the way verified data can help increase your funded loans and more.

Filed Under: Fintech Tagged With: coronavirus, COVID-19, small business lending, webinar

Views: 629

LendIt Fintech Launching New Webinar Series

The first two webinars, as part of our new digital initiatives, are launching later this week.

March 24, 2020 By Ryan Lichtenwald Leave a Comment

Views: 162

Now more than ever it is important to bring the fintech community together. Many readers are already aware that we have made the tough decision to postpone LendIt Fintech USA 2020 to late summer/early fall. To help you navigate these unpredictable times and continue to engage with your clients and peers, we are rolling out a series of regular digital events including: webinars, virtual panels and virtual roundtables. Keep an eye out for more topics in various formats to be covered in the coming weeks. The first two webinars are beginning this week.

How Small Business Lenders are Responding to the Rapidly Changing Economic Conditions

Thursday March 26th • 1:00 PM ET

These are uncertain times. While lenders need to do everything they can to support affected borrowers they also need to make sure they maintain a healthy and sustainable business. Learn how these lenders are balancing these issues during this time of crisis.

Some of the topics to be addressed include:

  • What small business lenders are doing to help existing borrowers
  • What they are hearing from small business owners
  • Current discussions around the government stimulus
  • How fintech companies might play a role in getting government money to small business owners
  • Differences between how banks are handling the current situation
  • Predictions on what the next three months could look like
  • and much more!

Register now

Consumer, Paystubs & Fraud: Insights & Digital Solutions

Tuesday March 31 • 2:00 PM ET

Many customers want to improve their risk profile while offering decisions to their customers quickly. Join us for this webinar to learn: the red flags associated with consumer provided pay stubs, the money that consumers don’t tell you about, the way verified data can help increase your funded loans.

Register now

Filed Under: Fintech Tagged With: Brock Blake, consumer, digital solutions, Equifax, fraud, Kabbage, Kathryn Petralia, Lendio, Luz Urrutia, Opportunity Fund, paystubs, small business lending, webinar

Views: 162

LendIt and Innovate Finance in the UK Teaming Up on a Fintech Webinar

Webinar will get the perspectives of leading venture capitalists on fintech opportunities in the US and the UK.

June 5, 2017 By Peter Renton Leave a Comment

Views: 0

[Update: The webinar replay is now available here.]

This Wednesday LendIt and Innovate Finance are teaming up with some the leading VCs to discuss fintech in the UK and the US. Titled, FinTech Opportunities in the UK and the US: The VC Perspective, this first of its kind webinar will bring perspectives from both sides of the Atlantic in a fast-paced one hour educational session.

I will be moderating along with Lawrence Wintermeyer, the CEO of Innovate Finance. Panelists include Matt Harris of Bain Capital Ventures, Luis Valdich of Citi Ventures, Alston Zecha of Eight Roads Ventures and Sheel Mohnot of 500 Startups. We will be discussing how the fintech environment is different in the UK and US and what these leading VCs are seeing today. We will also be talking about which areas of fintech are the hottest, what startups can do to get noticed today and much more.

Here are the details for the webinar:
Date: Wednesday, June 7
Time: 9:30am Eastern/2:30pm BST
Duration: 1 hour
Register here

Come prepared with questions, there will be some time for audience Q&A towards the end. Even if you might not be able to make it go ahead and register at the above link because a replay will be made available for all registered participants. I hope to have you on the webinar on Wednesday.

 

Filed Under: Peer to Peer Lending Tagged With: Innovate Finance, LendIt, venture capital, webinar

Views: 0

The Future of Marketplace Lending After the Lending Club News Webinar

NSR Invest and Emerald Direct Lending Advisers team up to share their perspective on Lending Club.

June 20, 2016 By Ryan Lichtenwald 1 Comment

Views: 4

Lending_Club_NSR_Emerald_Webinar

The Lending Club news hit over a month ago now, but there has been plenty of talk since then about the future of Lending Club and the marketplace lending industry. NSR Invest, a sister company to Lend Academy and Emerald Direct Lending Advisers are hosting a webinar tomorrow, June 21 from 1:30 pm – 2:30 pm ET to give their perspectives in light of what has been going on in the industry.

The conversation will be centered around all things Lending Club including: the corporate situation, stock dynamics, risk of failure, as well as recent lending activity. If you have been wondering what the future holds for Lending Club, tomorrow will be a great chance to ask questions and get perspectives from experts in the area.

Panelists will include Joseph Besecker, Founder & CEO, Emerald Direct Lending Advisers and Bo Brustkern, Co-Founder and CEO, NSR Invest. Summer Tucker, Director of Client Success at NSR Invest will be moderating the discussion.

If you’re interested in attending, you can sign up for the free webinar here.

Filed Under: Announcements Tagged With: Emerald Direct Lending Advisers, Lending Club, NSR Invest, webinar

Views: 4

LendIt Launches Webinar, Event Series on Marketplace Lending Trends

Participants will hear presentations from industry trailblazers and thought leaders, including executives at leading marketplace lending companies.

February 4, 2016 By Ryan Lichtenwald 1 Comment

Views: 0

LendIt Forum

As regular readers know, the marketplace lending industry is dynamic and maturing. With so much happening, we felt the need to start a regular series to share the latest developments and insights and allow people to connect.

LendIt Forum is a new webinar and networking series hosted by LendIt. It was designed to help anyone interested in innovations in lending to expand their knowledge and delve deep into one of four relevant topics from a lender’s perspective: Asset Management, Real Estate, Commercial Banking and Wealth Management.

Participants will hear presentations from industry trailblazers and thought leaders, including executives at leading marketplace lending companies.

The Forum begins in late February and runs through the end of March. The event line-up is as follows:

  • In Person Networking Event for Asset Managers – How Large Institutions Access P2P Lending (Monday, February 22 5:30-8:30 PM EST)
    • High yields, short duration, and low volatility have pushed P2P lending into the spotlight of large institutional fund managers.
  • Webinar for Real Estate Professionals – Online Real Estate Platform Models (Wednesday, March 9 2-3 PM EST)
    • Hear from leading online marketplaces for real estate investing including Money360, RealtyMogul and Patch of Land.
  • Webinar for Banking Executives – The Transformation of Lending: Banks Partnering with Online Lenders (Tuesday, March 15 2-3 PM EST)
    • Learn how the world of lending is being transformed by partnerships between banks and marketplace lending platforms.
  • Webinar for Financial Advisors – Innovation in P2P Lending for Financial Advisors (Wednesday, March 16 2-3 PM EST)
    • Learn how technology and finance come together to open a new asset class for financial advisors and their clients.
  • Pitch night event for venture capitalists and startups. (Thursday, Feb. 25 6-9 PM EST) This invitation-only event will connect angel investors with new marketplace lending startups. Visit the LendIt Forum page for information about attending.

This series is a great opportunity to learn and network with leaders in the marketplace lending industry. Participants will also get a taste of the in-depth content planned for LendIt USA this April. If you’re interested, you can register for free or learn more about each event at LendIt.com/forum. Below is a short video from Peter, shot in the LendIt offices this week, talking about this new series.

Filed Under: Peer to Peer Lending Tagged With: LendIt Forum, webinar

Views: 0

Register for This Free P2P Lending Webinar on May 30th

May 7, 2013 By Peter Renton 2 Comments

Views: 6

My partner and co-founder of the LendIt Conference is Dara Albright of NowStreet. She regularly conducts webinars as part of her Capitalizing on Financial Innovation series. I am pleased to announce as part of that series on May 30th I will be presenting at a free webinar about the recent explosive growth of p2p lending.

Here are the topics we will be covering:

  • Overview of the P2P & Online Lending Industry
  • The rapid growth of P2P & Online Lending
  • Capitalizing on the industry’s expansion
  • Interpreting Google’s recent investments into Lending Club & On Deck Capital.

So mark your calendar for May 30th at 1pm Eastern time. You can register for the free webinar here.

Filed Under: Peer to Peer Lending Tagged With: LendIt, webinar

Views: 6

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ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

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