PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. The build-back from the revelations of 2016 was a bit more of a lengthy process.

P2P 54

P2P Origination Underwriting Returns 54

Fintech News

JANUARY 4, 2024

Deal activity in the technology, media and telecom continued their downtrend in Q2 2023, with deal value falling 32% from Q1 2023 to Q2 2023 on a 15% decline in deal volume. Tech transactions suffered a considerable pullback, with deal volume decreasing to 854 from 1,011 in Q1 2023 and deal value dropping to US$23.9 billion from US$47.4

FinTech 96

FinTech Acquirers Web 3.0 Volume 96

Clearly Payments

MARCH 4, 2024

The operation also involved money laundering tactics to obscure the origins of stolen funds. Criminals took advantage of this anonymity to launder illicit funds by transferring them between accounts within the platform, effectively obscuring the money’s origins. Wirecard AG’s collapse and ensuing insolvency.

Phishing 59

Phishing Data Breach Law Enforcement Money Laundering 59

Fintech News

FEBRUARY 27, 2024

billion in 2023 , half of the previous year’s amount, and deal volume slipping 38% to 3,801, the lowest levels since 2017 — 2024 could see at least one fintech IPO, if not a whole wave of related IPOs as companies seek to capitalise on high valuations and strengthening investor appetite.

FinTech 119

FinTech Risk Compliance Multi-Currency 119

PYMNTS

SEPTEMBER 25, 2018

Beyond that, volume has exploded, with $284 billion extended in 2016 compared to $11 billion in 2013. China was the largest market, yet volume has declined in recent periods. For this reason, said BIS, FinTech firms have been partnering with banks to originate loans made online.

Risk 68

Risk FinTech Non-Bank Volume 68

PYMNTS

APRIL 6, 2016

In reference to methodology, NACHA’s survey extended across January and February, with 22 of the largest 25 ACH originating institutions responding. Financial institutions see the value in providing new, faster payment options to their customers with certainty and surety, and Same Day ACH allows them to do that in 2016,” Janet O.

Same Day ACH 46

Same Day ACH ACH NACHA AAP 46

PYMNTS

FEBRUARY 1, 2017

billion origination threshold, while also giving investors some insight into its borrowers and its plans for the future. The company’s main types of loans are automobile (34 percent of the total origination value), debt consolidation (31 percent) and home improvement (20 percent). Zopa, the U.K.’s

Origination 43

Origination Volume Finance Consumer 43

PYMNTS

APRIL 18, 2018

“We are looking at an industry that did $10 million of annual volume,” he said. These numbers are from KPMG in 2013, and in 2016 that had grown to $220 million.”. Breslow said OnDeck’s own estimates of its performance in Australia suggest the company “could see around $700 million of annual volume just here in Australia” in 2018.

FinTech 43

FinTech Small Business Volume Finance 43

PYMNTS

AUGUST 12, 2019

“This has been driven by a deterioration in the consumer credit environment since 2016, which affects smaller and younger companies,” the firm stated last week. both banks and alternative lenders say they’re experiencing an increase in small business loan volume. ” Meanwhile, in the U.S., and the U.K.

Small Business 57

Small Business Volume On-Demand Finance 57

PYMNTS

OCTOBER 18, 2016

The company was founded in 2007 and originally targeted consumers but morphed into a business-facing company in 2013. What’s more, the report pointed out the volume facilitated on its platform has increased 300 percent year over year. GCI and Inteliquent also participated in the round of fundraising.

Origination 56

Origination Facilitators Volume Participant 56

PYMNTS

NOVEMBER 8, 2018

After the terms of the settlement were announced, the Financial Times ( FT ) reported that the company failed to prevent “at least $125 million” in fraudulent transactions from being completed between April 2015 and October 2016. This announcement came separately on Thursday.

FTC 64

FTC Settlement Federal Trade Commission Fraud Prevention 64

PYMNTS

MAY 16, 2018

According to a report in CNBC, Noto used the letter, which was obtained by CNBC, to highlight key milestones like its Sofi at Work program, which hooks up with companies to help employees pay down their student loans and other debt, which has seen its funded loan volume increase by 118 percent from a year earlier.

Advisors 40

Advisors Origination Volume Addressing 40

PYMNTS

JANUARY 25, 2017

Some strong news out of Discover Financial yesterday as it reported its Q4 2016 earnings — the Riverwoods, Ill.-based “We are proud of all we accomplished in 2016, including record originations in personal and student loans as well as strong new card account growth, all of which helped us to achieve nearly 7% loan growth.

Credit Cards 43

Credit Cards Volume Origination Returns 43

PYMNTS

OCTOBER 11, 2017

percent in 2016 down to $269 billion. percent increase in SMB lending among large banks (FIs with more than $10 billion in assets) between 2015 and 2016 — and also by the fact that previous years saw community banks with higher loan origination volumes than large banks, researchers noted. percent in 2015 to 15.9

Community Banks 43

Community Banks Federal Reserve Fed Small Business 43

PYMNTS

MAY 15, 2017

The move is likely to slow growth in the short term, however, said the company; CFO Howard Katzenberg said on a conference call that the stricter requirements are expected to lead to a 20 percent drop in loan originations in Q2 but did tell investors that the company would be focusing more on lending directly to SMEs.

Finance 41

Finance Consumer Financial Protection Bureau (CFPB) CFPB Small Business 41

PYMNTS

APRIL 5, 2018

Just over 80 percent — or 82 percent — of surveyed financial institutions (FIs) anticipate SDA debit volume will grow at a rapid or steady rate in next six to nine months. The volume of same-day automated clearing house (ACH) transactions is expected to rise over the coming months.

Economy 43

Economy Zelle Same Day ACH P2P 43

PYMNTS

JUNE 6, 2017

We’ll give a daily double for the first data point, as it’s number of ACH transactions, and the second is quoted in terms of dollars over the whole calendar year of 2016. They grew over 5 percent in 2016.”. This is the number of Same Day ACH transactions that flowed over the ACH network since launch in September of 2016.

Same Day ACH 47

Same Day ACH ACH ACH Network NACHA 47

PYMNTS

OCTOBER 16, 2018

billion in deals reached in H1 of 2016. While Chinese exporters surged trade volumes in September, in an effort to avoid the upcoming tariffs on $200 billion worth of exports to the U.S. According to CNBC reports, foreign M&A by Chinese companies has slowed in the first half (H1) of 2018, with deals totaling $22 billion for H1.

Disputes 65

Disputes Risk Legal Compliance 65

PYMNTS

SEPTEMBER 15, 2017

From September 2016 through July of 2017, said Larimer, there have been 42 million same-day ACH credit transactions, with a corresponding total of more than $57 billion. From an origination perspective, that process is not mandatory, but here again, many larger firms and financial institutions “are ready to go from day one.”

Same Day ACH 48

Same Day ACH ACH NACHA Debit Transaction 48

PYMNTS

OCTOBER 25, 2017

Delving into the numbers a bit, the company said that Discover card sales volumes were up five percent compared to the third quarter of last year. Payment services transaction dollar volume was $51.6 percent, about 56 basis points higher than the third quarter of 2016. Total revenues were $2.5

Credit Cards 40

Credit Cards APACS Volume Issuers 40

PYMNTS

NOVEMBER 27, 2018

The Mortgage Bankers Association (MBA) reports that new home mortgage originations are at their lowest levels in years. That said, originations are also down 5 percent year on year. trillion in mortgage originations that happened in the first nine months of 2018, roughly 52 percent came care of non-bank lenders.

Non-Bank 46

Non-Bank Underwriting Federal Reserve Origination 46

PYMNTS

OCTOBER 15, 2019

15) — but on the whole, there were more misses than hits by the numbers as the bank continues to recover for troubles that started to emerge with the account creation scandal of 2016. Originations increased 9 percent to $6.9 Credit card purchase volume grew 5 percent year-on-year while debit purchased increased by 6 percent.

Credit Cards 40

Credit Cards Origination Volume Wires 40

PYMNTS

JUNE 12, 2017

Their 2017 survey contains data points that all point to one conclusion: Companies are forced to reshape their payment strategies thanks to a combination of factors, including the rising threat of payments fraud, increased globalization and high payment volumes. But how businesses reshape their payment practices varies.

Payer 60

Payer ACH FinTech Push-to-Card 60

CB Insights

MAY 16, 2018

Since 2015, GreenSky’s transaction volume has grown significantly — from $2.08B in 2015 to $3.77B in 2017. GreenSky has also notably maintained strong EBITDA margins of close to 50% since the start of 2016, meaning that the company has good cost control, with only about half of its revenues going to top-line expenses. .

Volume 35

Volume Shutdown Finance Procedures 35

FICO

JUNE 18, 2018

High volumes of NPL can cause a significant drag on a bank’s performance in the form of. These efforts are having an effect, and the total NPL volume fell from its €1 trillion high in 2016, but still exceeds € 840 billion. A large percentage of debt sale transactions originated from this block during last few years.

Blocks 63

Blocks Non-Bank Risk Volume 63

PYMNTS

OCTOBER 13, 2017

Between April 2016 and March 2017, the NAR reported that overseas buyers spent $153 billion on U.S. The report also noted real estate purchased by foreign buyers accounted for 10 percent of all existing home sales by dollar volume. properties, China is the top country of origin for foreign buyers, according to the NAR.

Cross-Border 68

Cross-Border On-Demand Wire Transfer Origination 68

PYMNTS

MARCH 2, 2018

” A study by deBanked and Bryant Park Capital in 2016 aimed to assess confidence in the merchant cash advance industry, and found that 91.7 percent of small businesses in Q1 2016 expressed optimism about accessing loans from this segment of the financial services industry. We come in un-collateralized.”

Small Business 47

Small Business Underwriting Database Assessments 47

CB Insights

FEBRUARY 12, 2019

The growing volume of time-stamped data from IoT devices is reviving interest in the decades-old database system. Data lineage is the record of origin, movement, and modification of data over time. As datasets become larger and more complex, understanding their origins is a necessary first step to achieve compliant data governance.

Database 55

Database CHIPS Automation Origination 55

FICO

AUGUST 2, 2016

Toyota Financial began emphasizing collections after the 2008 financial crisis, when a surging volume of delinquencies exceeded the reach of its internally developed decision framework. “I We are now taking nominations for the 2016 FICO Decisions Awards - if you've got a great story to share, we invite you to apply!

Consulting 74

Consulting Credit Cards Service Center Continuity 74

PYMNTS

APRIL 18, 2018

Two trends uncovered in PayNet’s Canadian Small Business Lending Index may be cause for concern: the first, loan origination remains weak; the second, short-term delinquencies among small business borrowers have risen. The February Index also recorded the largest increase in loan repayment delinquencies since April of 2016, marking a 1.11

Small Business 40

Small Business Agreements Cross-Border Disputes 40

PYMNTS

SEPTEMBER 3, 2019

Ad fraud’s prevalence is largely due to two factors: The lack of regulation and the sheer complexity and volume of online advertising. One particularly elaborate click scheme, Methbot, was detected in 2016. Advertisers will lose a projected $5.8 billion to $42 billion to fraudsters this year alone.

Bots 49

Bots Money Laundering FBI Push-to-Card 49

CB Insights

FEBRUARY 13, 2020

In 2009, a decade after PayPal started offering online payments, San Francisco-based startup Square brought payments innovation to the point-of-sale , allowing businesses with smaller transaction volumes to accept card payments with its card reader and mobile phone card reader. on payment volume. Get the full report.

Payment APIs and Integration 98

Payment APIs and Integration Online and Mobile Banking Payments Push-to-Card 98

Fintech News

MARCH 18, 2024

Originally established as Omise in Thailand in 2015, Opn has since expanded its footprint to encompass Japan, Singapore, Malaysia, Indonesia, the Philippines, Vietnam, and the US. In addition, Opn offers consulting services through its Opn Pro brand.

FinTech 105

FinTech Online and Mobile Banking Blockchain Product 105

FICO

FEBRUARY 9, 2021

When the country voted in favour of Brexit in June 2016, it signalled the start of a long, painstaking journey to split from the European Union. This is a volume-based attack where fraudsters are looking to see who nibbles and then defraud them. A fraudster’s perfect storm has broken in the UK. by Toby Carlin.

Scams 52

Scams Tax Scams Account Takeovers Breach 52

Fintech Labs Insights

FEBRUARY 27, 2017

Despite growing pains brought on in 2016*, Prosper has seen positive growth since mid-2016. Since July, monthly loan originations have climbed “steadily.” Additionally, Prosper suffered a 12% drop in lending volume in Q1 of 2016.

P2P 16

P2P Origination Returns Volume 16

PYMNTS

MAY 7, 2018

In a survey of financial institutions facilitating Same-Day ACH for their customers – which collectively account for about 66 percent of ACH origination volumes – NACHA found that exactly zero percent reported an increase in fraud. billion in losses linked to fraud in 2016 and a 16 percent increase from 2014 levels. ”

Same Day ACH 47

Same Day ACH Fraud Detection ACH NACHA 47

PYMNTS

JANUARY 11, 2018

According to new research from Magilla Loans , which offers an anonymous search engine data for both home and business loans, a survey of mortgage and business lenders found plans to originate more than half a trillion dollars’ worth of loans in 2018. So while lending volume in the U.S. percent in 2016.

Finance 50

Finance FinTech Money Laundering Correspondent 50