Banking, Lending

SoLo Funds faces a new consent order in Connecticut: Will a third order pressure the fintech to pursue a lending license?

  • Last week, the Connecticut Department of Banking issued a coherent consent order for SoLo, in regard to Connecticut’s ongoing disagreement with the fintech.
  • The situation following the string of consent orders begs the question: whether SoLo Funds will cease operations across other US jurisdictions or continue working until it applies for and obtains the required licenses to keep serious repercussions at bay?
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SoLo Funds faces a new consent order in Connecticut: Will a third order pressure the fintech to pursue a lending license?

 


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Online Lenders

Case Study: How Citi and Numerated are working to transform lending technology through strategic partnership

  • In this case study, we explore the partnership between Citi and Numerated, showcasing how the collaboration impacts the lending landscape.
  • By combining Citi’s financial expertise with Numerated’s AI-driven platform, this partnership exemplifies how fintech and traditional banking can work together to drive innovation and efficiency.
Zachary Miller | August 26, 2024
Designing new products, Lending, The Quarterly Review

The Quarterly Review: GM and CXO at Laurel Road, Alyssa Schaefer on launching two new products, partnerships, and segmentation

  • We spoke to Laurel Road's Alyssa Schaefer in March about her plans for the quarter and she told us that partnerships, products and improving processes through data gathered by their refreshed segmentation strategy will be a major focus.
  • Five months later we are checking back in to see how Schaefer rendered her plans to reality and what improvements Laurel Road was able to realize due to this strategic direction.
Rabab Ahsan | August 20, 2024
Banking, Lending, The Customer Effect

Unpacking the consumer impact of the Capital One and Discover deal

  • The Capital One-Discover deal may be driven by the complementary attributes of their customers, potentially leading to changes in product offerings and services to better serve consumers.
  • The combined entity could introduce a rewards based debit card as well as relaunch Discover's credit cards for SMBs. Beyond products however it is unlikely that the UX will change dramatically.
Rabab Ahsan | May 14, 2024
Finance Everywhere, Lending

What will Walmart’s launch of BNPL through One mean for the industry?

  • Walmart is leveraging its fintech arm One to offer BNPL options to its customers, competing with existing players like Affirm, which already offers pay in four options in Walmart stores.
  • The entry of retail brands like Walmart into financial services could compel dedicated fintechs to offer more attractive financing options to maintain market share, while also allowing Walmart to deepen its customer relationships, particularly with younger consumers.
Rabab Ahsan | May 08, 2024
Lending

How credit unions can improve consumer loan repayment performance

  • Increasing delinquency rates offer a glimpse into the declining financial well-being of consumers throughout 2023 and raise red flags about future upticks in charge-offs.
  • How can lenders, particularly credit unions, support consumers in managing debt and averting delinquencies and loan defaults in the future?
Sara Khairi | February 29, 2024
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