Lenders of all kinds, from large banks to small community banks, credit unions, and fintechs, are hemmed in by the pressing issue of SMB lending fraud -- with fintechs continuing to experience the highest hit.
Convenience is a staple of digital lending. And while this is valued by borrowers looking for a quick and easy application process, it also opens the door for fraud.
SoLo Funds has become the first Black-owned financial services company to cross the 1 million customer account mark last month.
The fintech facilitates P2P loans for consumers living on the margins of financial services. Acquiring more than 1 million users hasn’t come easy for SoLo, though.
We take a look at how PayPal entered the BNPL sector by launching its first BNPL offering – ‘Pay in 4’, and expanded its suite of products by rolling out another BNPL product, ‘Pay Monthly’, in 2022.
Steve Mikulcik, VP of Global BNPL at PayPal, talks about the ramifications of such a rapidly-growing industry, and whether it is still serving the purpose of facilitating consumers.
Achieve, formerly known as Freedom Financial Network, offers digital finance solutions like consolidation programs to underserved credit groups.
Tearsheet sat down with the co-founder and co-CEO of Achieve, Andrew Housser, to learn about his plans for the company and how it caters to the needs of everyday Americans.
Is B2B BNPL keeping up to speed with the B2C model?
Contrary to B2C, B2B BNPL is viewed more as the automation of existing credit processes with slight innovation. However, the model brings its own set of challenges.