Kabbage Processed 129,000 SBA PPP Loan Applications For Nearly $4 Billion
#Kabbage, the Atlanta-based small business lending #fintech, was the fourth largest processor of SBA payroll support loans (PPP).
Financial Technology
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SBA PPP Loans At Atlantic Union — 13 Days, 6,500 SBA-Approved Applications, $1.4 Billion To SMEs
By the time the SBA money ran out, #Atlantic #Union had obtained $ 1.4 #billion for 6,500 business customers.
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Faster Payments Sees $17 Billion Invested So Far in 2018
#Faster #payments and remittance services have had record-breaking amounts of investment this year. A #Fintech Global report, published this week, found that global investment in payments and remittance companies has reached a historic high. For the first half of the year alone there has been $ 17.5 #billion #invested, which trumps the $ 12.3 billion investment for […]
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Samsung Pay Crosses 1.3 Billion Transactions, But Falls Short of Apple Pay
As it makes its way to South Africa and continues to amass impressive partnerships with the likes of Alipay and PayPal, #Samsung Pay might have completed three years in the mobile payments market, but its numbers still lag its main rival, #Apple Pay. Samsung revealed yesterday that it had completed 1.3 #billion #transactions in three […]
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RBC Spent $1.1 Billion On Digital Over the Last 4 Years
Royal Bank of Canada has invested $ 1.1 #billion on innovation #over the #last four #years and added 1,000 employees to work on #digital initiatives since 2016, Bank Innovation has learned. That amount is relatively small compared to larger #banks such as Bank of America, for instance. In fact, Bank Innovation previously reported that BofA is investing $ 500 […]
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Financial Services will Invest $9 Billion in Big Data This Year
#Data is created at every #financial transaction, and as datasets expand beyond what a single database can hold, big data is born. As complex as these datasets can be, they hold valuable information for financial institutions and are spurring financial #services investments. A report from the technical consulting firm SNS Telecom & IT, published July […]
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Chatbots to Save Banks $11 Billion in Costs by 2023
Bank of America has Erica, Capital One has Eno, Bank of Montreal has Bolt. Safe to say that most major #banks are at least exploring the possibility of a virtual assistant, if they don’t already have one. And there is more to this virtual assistant than just the cool factor, for banks these #chatbots improve […]
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KeyBank Acquires SMB Lending Tool Bolstr, Plans to Originate $2.5 Billion in Loans in 5 Years
For a long time, expensive underwriting kept #banks away from small business #lending. But not anymore. The most recent example of a bank taking note of this area is #KeyBank’s acquisition of #Bolstr’s SMB-focused digital lending platform, which it announced this week. Terms of the acquisition were not disclosed. Founded in 2010, Bolstr is a […]
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Corporate Venture Investment Hits a Record $37 Billion in 2017
Last year, was big for #corporate #venture capital — $ 37.4 #billion big. That’s the total #record amount of money invested by the corporate venture capital industry last year in 1,268 financing deals, according to a report from Pitchbook and the National Venture Capital Association released Friday. Overall, corporate venture capital entities participated in 44% of all #2017 […]
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Insurance Newbie Bets On Empathy Over Billion Dollar Ad Budgets
Clearcover is betting that by sharply reducing marketing costs it can sharply undercut other auto #insurance companies on price.
Financial Technology
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