LendingClub’s results showed that higher interest rates are cutting into investors’ demand to buy loans. The company said in its earnings materials on Wednesday (Jan. 25) that marketplace revenue is down 28% as a result. Quarterly loan originations were $2.5 billion in the latest quarter,...
That the pandemic has been a fraudster’s playground is not in doubt. Were it not for a flurry of digital transformation all through 2020 the frightful fraud scene might’ve been worse. PYMNTS January 2021 Next-Gen Debit Tracker® done in collaboration with PULSE, A Discover Company,...
Consumers are increasingly turning to debit to manage their spend, and fraudsters are wise to the move. In the latest Next-Gen Debit Tracker, Chris Tremont, executive vice president of virtual banking at Radius Bank, discusses how issuing virtual debit cards and using mobile-enabled tools like...
A new year has begun, but the pandemic continues to throw financial and operational curveballs at banks, businesses and their consumers regarding how they conduct daily tasks or routine payments. Financial institutions (FIs) and payment players are now facing questions not only about how they...
January 19, 2021
A new year has begun, but the pandemic continues to throw financial and operational curveballs at banks, businesses and their consumers regarding how they conduct daily tasks or routine payments. Financial institutions (FIs) and payment players are now facing questions not only about how they can satisfy their customers after long months of constant change […]
July 21, 2020
Cybercrime is a constant concern for banks, credit unions and other financial institutions (FIs), with more than 25 percent of all malware attacks targeting the financial industry specifically. Compromised credit...
May 06, 2020
LendingClub posted first-quarter earnings results Tuesday (May 5) that showed a high single-digit percentage decline in loan originations as consumers held back, investors shied away from debt markets and an...
February 24, 2020
Two deals this past week shone a spotlight on the lure of financial services — done digitally — and the “build vs. buy” debate, settled firmly on the side of...
February 27, 2020
LendingClub announced on Wednesday (Feb. 26) its new Chief Risk Officer Annie Armstrong, who has decades of experience in risk management for financial service companies. Current Chief Risk Officer Tim Bogan will be moving to the Chief Banking Integration Officer role for LendingClub. In that job, he’ll be focused on the planning, processing and organizational work […]
February 18, 2020
FinTech LendingClub is purchasing Radius Bancorp for $185 million in cash and stock, according to a report by CNBC. LendingClub provides personal lending online, and it wants access to funding...
October 03, 2019
FinTech startup Brex is launching a business cash management account to replace traditional business bank accounts, the company said in a press release on Wednesday (Oct. 2). “Even before customers...
