EXCLUSIVE- TD #Bank today has partnered with cloud banking platform #nCino, to integrate its corporate and #commercial #lending divisions with nCino’s Bank Operating System. The #partnership allow TD Bank to digitalize the entire consumer lending process from start to finish. Check out how nCino works here. For nCino, TD Bank is its largest bank partner. …Read More
Bank Innovation
EXCLUSIVE— The new chief information officer for #SunTrust will focus on expanding partnerships, client experiences, and moving forward with the bank’s digital roadmap, Scott Case, now the bank’s CIO, told Bank #Innovation. In practice, that means focusing more on the bank’s mobile offerings, growing LightStream (the bank’s online #lending platform), and building out its tech …Read More
Bank Innovation
EXCLUSIVE – Nearly a third of Americans have low #FICO scores, and this can mean difficulties in securing loans to pay for higher education. It’s easy to see how this issue contributes to an ever-widening gap between rich and poor. #Student #lending company #Climb #Credit is taking on this challenge by offering loans that do […]
Bank Innovation
The Federal Reserve Bank of #Cleveland has taken a #report on P2P #lending offline due to #questions regarding the report’s underlying #data. Released earlier this month, the report — which is now under revision, according to the Cleveland Fed &8212; concluded that the P2P lending industry is similar to that of “predatory loans,” and that […]
Bank Innovation
EXCLUSIVE – Business software provider #Intuit today launched its first loan #product through #QuickBooks called QuickBooks #Capital. Users will be able to access the product in the homepage of their existing accounts with QuickBooks. These products are short term working capital loans ranging from $ 5,000 to $ 35,000 over a period of three to six months. […]
Bank Innovation
EXCLUSIVE–How should financial services build the future of #digital #lending? Focusing on the #simple #things is a good start, said John C. Schleck, senior vice president, centralized and online sales for #Bank of #America. Financial services should focus on “making the easy stuff really easy,” Schleck said yesterday during a panel discussion at the American […]
Bank Innovation
EXCLUSIVE – There were conflicting views on the importance of the FICO score at the PayThink Conference in Phoenix this week. While only some professionals were bold enough to say the standardized credit scoring has become marginalized, others maintained that it was here to stay. However, all agreed on the increasing potential of #alternative #data. For […]
Bank Innovation
It’s been less than a year since Goldman Sachs unveiled its #marketplace #lending arm, Marcus. How has the platform been doing so far? Marcus has lent more than $ 1 billion since the launch, and plans to “cross” the $ 2 billion threshold by the end of the year, Chief Executive Lloyd Blankfein said in an interview […]
Bank Innovation
When talking about #machine #learning algorithms, #Amazon definitely comes to mind. The e-commerce giant has (arguably) the most sophisticated ML toolset around that is #uses for drone deliveries, online tailors, or its AWS offering. Turns out, Amazon’s lesser known operation – small business #lending – is also powered by machine learning, Bank Innovation has learned. […]
Bank Innovation
#Lending #Club might be through the woods, thanks to #banks. Banks made up a “#record” 40% of the lender’s almost $ 2 billion originations for the quarter, up from 31% last quarter, according to Lending Club CEO Scott Sanborn. Sanborn said on the company&8217;s earnings call yesterday: Banks continued to ramp their purchasing as a major component […]
Bank Innovation
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