FinTech/Marketplace Lending

Our take on the latest trending events:

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While it has long been assumed that younger consumers don't like or trust big banks, new research suggests that the opposite is true. Big banks and credit unions are still in the game and are still very much in the running to retain current clients and obtain new ones.
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New lending players have been supplying a large portion of the money in the lending ecosphere, in many cases overshadowing the contribution of banks. But with less regulation in this space, these nonbank finance companies are putting themselves at risk without proper strategies in place to protect themselves.
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FinTechs may have made a splash on the lending scene, but they're having a tough time obtaining a bank charter and entering the banking sphere.
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Partnerships between banks and other financial institutions and technology companies are increasing.
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While some may be in opposition of mobile payment company Square's reapplication to get a bank license, the commotion doesn't seem to be as significant as it has been for prior applications by other non-bank institutions. Could this mean that the banking industry is embracing technology and FinTechs?
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Lessons learned from an e-commerce giant are allowing a new fintech CEO to navigate a turnaround by focusing on the customer experience and several other key factors.
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Banks and FinTechs are increasingly finding synergies in partnerships, rather than competing head to head. The latest is a new subsidiary, ODX, intended to provide online services to small businesses, created by FinTech OnDeck. Given the number of FinTechs searching for partners, though, banks should be careful that they are choosing the right fit from among the available possibilities.
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Small community banks often have neither the funds or ability to expand into FinTech. Regulatory issues often hold them back as well. Yet customers are increasingly embracing the ease and convenience of FinTech, such as online loan applications and online approval. Some observers fear that FinTech may erode community banks’ market share going forward. A FinTech-generated loan product partnership can help community banks reap the rewards of FinTech.
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Big data is more than a buzzword to banks. Rhode Island-based Citizens Bank is just one regional institution that has used data scientists and analytics to build a platform which has enhanced bank earnings by targeting product offerings to customers in the market for them. In the future, fintechs with expertise in big data might make natural partners wanting to follow Citizens’ lead to generate deposits and loans
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How Banks Are Surviving the Digital Revolution
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Market watchers see a potentially lucrative upside for the securitization of marketplace-lending backed assets.
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