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CoreLogic and ComplianceEase Launch LoanSafe Compliance Manager

New Solution Helps Lenders Comply with Upcoming TILA-RESPA Rule, as well as QM and High Cost Loan Requirements CoreLogic® announced the release of LoanSafe Compliance Manager™, a new solution to help lenders comply with a broad array of federal, state and local residential mortgage lending regulations, including the TILA-RESPA Integrated Disclosure (TRID) rule when it takes effect Aug. 1, 2015. LoanSafe ... Read More »

Credit Karma Raises $175 Million to Accelerate Plans to Reengineer Personal Finance

Credit Karma announced it has received $175 million in a Series D funding round with participation from Tiger Global Management, Valinor Management and Viking Global Investors LP. The funding will drive major platform additions to help consumers establish their online financial identities on Credit Karma, making it easier, faster and more effective to manage their personal finances. Investors have made ... Read More »

FinTech Firm Mambu is Selected to Help Power Lending for Ferratum Group

Cloud banking tech provider Mambu has forged an agreement with the Ferratum Group to power “Ferratum Business”.  This new subsidiary is a designed to provide SME financing and loan service. Mambu’s cloud based, SaaS, will help manage loan application, origination, credit scoring and loan disbursement within one day. According to a release, Mambu’s service will operate in conjunction with existing in-house services already ... Read More »

Alibaba’s Affiliate Ant Financial Services Starts Internet Bank: MYbank

One of Alibaba Group’s affiliates, Ant Financial Services Group, and other investors have started a privately owned Internet bank, MYbank, to provide “inclusive and innovative financial solutions” at lower cost to small business and consumers. Other than Ant Financial, investors of MYbank include: Shanghai Fosun Industrial Technology Development Co., Wanxiang Sannong Co., and Ningbo Jinrun Asset Management. The bank has ... Read More »

FINTECH at its Best: Goldman Sachs Enters the Fray

Goldman Sachs is entering online lending!  BIIA editorial comment. Six months ago Goldman Sachs was a lead underwriter on the initial public offering of Lending Club, the biggest and brashest of a new breed of online lenders.  There it got an inside view of how financial disrupters work.  Now this financial powerhouse is looking to disrupt the disrupters, launching its ... Read More »

Kreditech Appoints Oliver Prill as COO

Kreditech, the consumer finance technology Group, appointed Oliver Prill joined as Chief Operating Officer. Oliver Prill (43) has over 15 years experience in the wholesale and retail financial service industry.  Before joining Kreditech he served as an advisor to a number of funds and banks operating in the consumer finance space. He was Chief Executive of Optanus, a boutique focused ... Read More »

FINTECH: Potential Solution to the SME Access to Finance Issue

News from the Fintech ‘front’ in Australia:  Fintech (financial technology) is a line of lending businesses using software for the purpose of disrupting incumbent players such as banks. Fintech companies work outside current banking regulations.  The attraction of fintechs is the expectation of a “quick yes” via a streamlined online approval process. Fintechs tap into a huge diverse of unstructured ... Read More »

Consumer Lender Kreditech Investigates Insider Breach

Kreditech, a consumer finance startup that specializes in lending to “unbanked” consumers with little or no credit rating, is investigating a data breach that came to light after malicious hackers posted thousands of applicants’ personal and financial records online (according to KrebsOnSecurity). A source pointed KrebsOnSecurity to a Web site reachable only via Tor, a software package that directs Internet traffic through a free, ... Read More »

Credit Information China: CCRC’s online P2P Credit Platform

The People’s Bank of China’s Credit Reference Center (CCRC), through its subsidiary Shanghai Credit Information Services Co., Ltd (CIS), has recently launched an online financial credit system – NFCS.  According to CIS, NFCS now has 370 loan companies and 524,000 registered customers as of the end of December 2014.  An insider of CIS’ credit business branch claims the number of ... Read More »

Alibaba Group Restructures Loan Division

Alibaba Group has announced the company’s completed restructured relationship with Zhejiang Ant Small and Micro Financial Services (Ant Financial) – now officially parent company of Alipay and Alibaba’s small- and medium-sized enterprise (SME) loan business. Alibaba Group and Ant Financial first agreed on a purchase agreement prior to Alibaba’s IPO in September 2014. The restructuring sees Alibaba reduce its risks ... Read More »

Peer to Peer Lending

In the banking context, peer-to-peer lenders are still “alternative” and they still represent a very small part of the overall lending pie, but with the recent news that Union Bank is going to front end part of their lending with Lending Club one starts to wonder how mainstream these lenders are getting. With advances in technology and the ability mine ... Read More »

Alibaba.com Partners with Lending Club to Offer Loans to SMEs in the U.S.

The Alibaba Group’s B2B e-commerce arm, Alibaba.com, announced the formation of a partnership with the Lending Club, a San Francisco-based lending company listed on the New York Stock Exchange, to provide credit loans to small- and medium-sized businesses (SMEs) in the U.S. U.S.-based SMEs can now apply for credit lines from US$5,000 to US$300,000 through Alibaba.com to finance purchases of ... Read More »

CRIF Decision Solutions Merges into CRIF to Provide an Integrated and Holistic Approach to Credit Management

As of January 1, 2015, CRIF Decision Solutions is incorporated as a business line into the parent company CRIF S.p.A. The merger will provide an ever more robust offering of know-how, predictive analytics and technology to enable banks, financial institutions, telco, media, energy and utility firms to achieve sound & optimized decision-making and compliant processes in every phase of the ... Read More »

Equifax and Argus in Partnership to Launch Primary Impact™

Equifax and Argus Align to Optimize DDA Acquisition Strategies for Financial Institutions with Primary Impact™ Equifax Inc. announced at the BAI Retail Delivery conference that it has formed a strategic alliance with Argus Information and Advisory Services, a Verisk Analytics business and a leading provider of analytics, information, and solutions to consumer banks and their regulators.  The companies are excited to ... Read More »

GDS Link enters Joint Venture to establish Samason Credit Bureau of Cameroon

GDS Link, a global provider of customer-centric risk management, process automation and Credit Reference Bureau solutions recently established a joint venture with Samason Global in its creation of Samason Credit Bureau Cameroon Ltd. (SCBC). Established by Samason Global, a leading provider of project and asset management, business consultancy and printing solutions to the Cameroon region, will now deliver consumer and ... Read More »