PYMNTS

APRIL 16, 2020

Accelerated data sharing has become a focal point for small business lenders and FinTechs looking to speed up the time it takes for SMBs to apply for and receive much-needed funding. This week’s look at the latest in bank-FinTech collaborations and open banking initiatives finds a focus on small business lending: In the U.K.,

Finance 67

Finance Payment APIs and Integration Cross-Border Payments Cross-Border 67

PYMNTS

JULY 31, 2019

The merchant cash advance is considered the payday loan for many in the small business lending market — and that’s not necessarily a good thing. That bank connectivity allows a company like MO to deploy a different tactic in loan underwriting and risk mitigation, Shidfar explained. Regulators have taken note.

Federal Trade Commission 65

Federal Trade Commission Small Business Underwriting Risk Mitigation 65

PYMNTS

MARCH 31, 2020

The new SmartLenders program, activated Tuesday (March 31), will allow for what the company said is the fastest way to administer Small Business Administration (SBA) Paycheck Protection Program (PPP) loans. Then, SmartLenders works to automatically collect the required documents, complete underwriting and close the loans.

Process 52

Process Payroll Underwriting Legal 52

PYMNTS

JULY 26, 2019

Gusto’s payroll technology secured the largest investment round of the week with $200 million. But a closer look at the rest of the B2B funding market shows investors turned to FinTechs helping small businesses grow and operate across borders, with FX, cross-border payment, and trade finance solutions securing new funding.

B2B 62

B2B Cross-Border Payments Cross-Border Payroll 62

PYMNTS

FEBRUARY 21, 2020

As is often the case with technology adoption, small business (SMB) owners are seeking services and solutions that offer the same convenience and optimized user experiences provided in their personal lives. Unlike consumers, small businesses’ insurance needs are unique and complex.

Small Business 56

Small Business Online and Mobile Banking Payroll On-Demand 56

PYMNTS

APRIL 16, 2020

According to Dix, platforms like Cerity are also able to offer SMBs lower costs thanks to their digital-native strategies, with automated underwriting able to cut out the middleman (and commission costs) while connecting SMBs to an insurance quote in a few seconds. Payroll’s Moving Target. Shifting Business Models.

Payroll 70

Payroll Adjustments Underwriting On-Demand 70

PYMNTS

JANUARY 3, 2020

According to Mittal, there are three main factors that small businesses in India need to succeed: a “strong network, access to finance and simplified business support functions.” However, offering SMBs a digital platform to connect with other business buyers and sellers is only one piece of the puzzle.

Financial Inclusion 48

Financial Inclusion On-Demand FinTech Small Business 48

PYMNTS

NOVEMBER 22, 2019

Downing Ventures and Gresham House Ventures led the investment, which will fuel Funding Xchange’s deployment of its white labeled lending offering for other service providers looking to extend small business lending to their own clients. based provider of HR and payroll software, announced two takeover deals.

B2B 43

B2B FinTech Cross-Border Payments Payroll 43

PYMNTS

JANUARY 16, 2019

Payroll might get tricky, and maybe you won’t be able to buy enough supplies to start that next job, thereby perpetuating a nasty cycle. But digital technology, sophisticated algorithms and new business models are helping to give some slack to consumers and small businesses struggling with cash flow. Speed Counts.

Small Business 55

Small Business Payroll Checks Mobile Deposit 55

PYMNTS

JUNE 15, 2020

There are “three major needs” that small businesses have: “fully-digital app-based processes, including loan applications; tools to help [them] manage their business and accounting; and simple and transparent pricing,” he noted. .” ”

Cross-Border 98

Cross-Border Non-Bank Addressing Underwriting 98

PYMNTS

OCTOBER 7, 2019

Needs, Nav CEO Levi King told Karen Webster in a recent conversation, often come in two flavors for the typical small business owner. When things aren’t going so well, managing cash flow is usually more about surviving to profit another day, and keeping the lights on and payroll covered.

Finance 47

Finance Underwriting Small Business Economy 47

PYMNTS

MAY 15, 2018

Dubbed Wiise , the Australia-based startup will rival the market’s current industry leader Xero and fellow Australian small business accounting firm MYOB. Reports on Monday (May 14) said the companies will launch Wiise in July, owned by KPMG and operated through a joint deal between Microsoft and CBA.

Accounts 41

Accounts CRM Small Business Underwriting 41

PYMNTS

APRIL 24, 2020

While there is a wide perception that the banks are simply the processing nodes for the PPP loans, and that the loans are actually being funded and paid out by the Small Business Administration (SBA), that is only partially accurate, Speight and Walker noted.

Community Banks 70

Community Banks FinTech Underwriting Small Business 70

PYMNTS

DECEMBER 21, 2020

The company’s core business is to enable businesses to access payment or collection of major expenses using credit cards where cards are not accepted, such as to pay rent, tax, invoices and payroll. Additionally, she said she sees the solution as a new financing tool for small- to medium-sized businesses ( SMBs ). “We

Commercial Card 70

Commercial Card Cross-Border Payments Cross-Border B2B 70

PYMNTS

OCTOBER 6, 2017

5), Alenka Grealish, senior analyst at Celent, penned an article for American Banker with a prediction: The small business (SMB) credit space is headed for a “shake-up.” On Thursday (Oct. Indeed, the remainder of 2017 and 2018 will see more partnerships between the banks and FinTechs.”.

B2B 61

B2B P2P Small Business Finance 61

PYMNTS

JANUARY 28, 2020

in which open banking has enabled accounting portals to receive information directly from businesses’ bank accounts, as well as from other platforms like accounts payable, accounts receivable, payroll, expense management and beyond. They can be more supportive and proactive in helping these small businesses thrive.”.

Faster Payments 60

Faster Payments Payments Accounts Real Time Payments 60

PYMNTS

JUNE 28, 2019

Taking a localized approach to small business (SMB) finance, MainVest announced a $3 million Seed round this week, led by Rucker Park Capital and Lerer Hippeau, while Uber Alumni Syndicate also participated. Small business lending startup Lulalend is driving alternative finance growth in South Africa, and just announced $6.5

Small Business 43

Small Business Participant Automation B2B 43

PYMNTS

AUGUST 26, 2016

Additionally, Yantra noted, the potential exists to “transform traditional approaches to direct deposit, money transfers, payroll, as well as the disbursement of loans.”. The purpose of a bank is to meet this need,” said Ramamurthi, and yet, the documentation and the underwriting process can be unwieldy.

B2B 41

B2B Direct Deposit Small Business Reconciliation 41

Stax

JANUARY 17, 2024

This makes ACH PayFacs a desirable option for small businesses or start-ups. After this, it usually takes about 3-5 days to get approvals post the underwriting process. This makes ACH PayFacs a desirable option for small businesses or start-ups. Q: What does an ACH payment facilitator do?

ACH 88

ACH Facilitators ISVS Payment APIs and Integration 88

Nanonets

SEPTEMBER 23, 2024

Expense analysis: Review outgoing payments such as vendor payments , payroll, and operational costs. This detailed review helps businesses get a clear picture of their financial standing and spot any irregularities early on. payroll, utilities) and flags unexpected costs. Why is bank statement analysis important?  

Payment APIs and Integration 52

Payment APIs and Integration AI Audit Non-Bank 52

PYMNTS

FEBRUARY 6, 2018

According to the Small Business Administration , of the 28 million U.S. Those firms, according to the same SBA report, had an annual payroll of $195 billion, receipts of $1.14 The problem, Rockefeller explained, is in underwriting. SMBs, roughly 2.5 million, or 9.1 million jobs.

Non-Bank 47

Non-Bank Small Business Underwriting P2P 47

Fintech Labs Insights

MARCH 14, 2016

Payroll, benefits & compliance platform for employers. Alt-lender for small businesses. Personal and small business financial management. Insurance management for small businesses. Invoicing and inventory management for small businesses. HQ: San Francisco, California. TradeShift.

FinTech 19

FinTech Debit Card Underwriting Point-of-Sale (POS) 19

CB Insights

FEBRUARY 13, 2020

‘PayFac’ technology simplifies underwriting and onboarding. Stripe’s business strategy: How the $35B unicorn sets itself apart. Additionally, the company must underwrite risk, and is on the hook in the event of fraud or returned items. Stripe’s business strategy: How the $35B unicorn sets itself apart.

Payment APIs and Integration 98

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

PYMNTS

MARCH 2, 2016

ZipBooks has stepped into that fray, announcing last week that it has launched a free accounting software suite for small businesses, with the software itself offering more than just data reconciliation and expanding to embrace invoice financing and credit card-based recurring billing, among other features. percent charged weekly.

B2B 40

B2B Federal Reserve Credit Cards On-Demand 40

Fintech Labs Insights

SEPTEMBER 19, 2016

Digtial currency management for small businesses. Tags: Consumer, credit, loans, underwriting, solar energy, home equity. Finova Financial. Alt-title loans. Latest round: $52.5 million Private Equity. Total raised: $52.5 HQ: Palm Beach Gardens, Florida. Source: Finovate. POS solutions provider. Latest round: $45.1 million Seed.

Underwriting 27

Underwriting FinTech P2P Advisors 27

Fintech Labs Insights

AUGUST 23, 2016

Crowdfunding marketplace for small business capital. Small business debit and current account. Crowdfunding marketplace for small business capital. Small business risk scores. Tags: Institutions, lenders, SMB, commercial credit, underwriting. HQ: Fort Worth, Texas. Source: Crunchbase.

FinTech 19

FinTech Underwriting P2P Small Business 19

Fintech Labs Insights

MAY 19, 2016

Marketplace small business lending platform. International payment service for small businesses. Accounting, payroll and HR platform for small businesses. Tags: Consumer, lending, credit, underwriting, healthcare, payments, insurance. Marketplace lender for residential solor projects.

FinTech 18

FinTech Debit Card Underwriting Non-Bank 18

Fintech Labs Insights

NOVEMBER 23, 2015

LQD Business Finance. Online small business financing. Payroll-based lender. Bitcoin-based international payroll . Tags: SMB, enterprise, payments, human resources, crypto-currency, payroll. Source: Crunchbase. Financing online consumer purchases. Total raised: $101 million (includes $100 million debt).

NOV 21

NOV Debit Card Online and Mobile Banking FinTech 21

PYMNTS

SEPTEMBER 23, 2019

For example, businesses are paying insurance claims to consumers and loan proceeds to borrowers in real time – and banks and FinTechs are enabling payments between people in real time. There, existing rails and new flows are giving people and SMBs access to funds faster with an obvious ROI for the business. buyers owe suppliers $3.1

Real Time Payments 61

Real Time Payments Payments B2B Innovation 61

PYMNTS

AUGUST 12, 2016

The company said it will use the support to grow its presence in the alternative small business lending space through marketing and developing. “Our aspirations are high, but we have to prove that we can underwrite loans first,” said its cofounder and chief executive, Boyd Pederson, according to reports.

B2B 40

B2B Participant Underwriting Payroll 40

Fintech Labs Insights

JULY 12, 2016

Accounts receivables platform for small businesses. Alt-lender for small businesses. Tags: SMB, small business, investing. Financing solutions for retailers & manufacturers. Latest round: $13 million Series B. Total raised: Unknown. HQ: Austin, Texas. Source: Crunchbase. Lease-to-own financing platform.

Underwriting 17

Underwriting P2P FinTech Online and Mobile Banking 17

CB Insights

OCTOBER 10, 2018

Digital banking adoption among consumers and small businesses (SMBs) is at an inflection point. Companies in the market today are largely focused on expense management for small businesses, but may look to use funding to expand as they scale. Why now for digital banking startups. Sector breakdown & growth drivers.

Online and Mobile Banking 78

Online and Mobile Banking Debit Card Credit Cards Non-Bank 78

Fintech Labs Insights

DECEMBER 30, 2015

Person-to-person small business lender . Tags: SMB, payments, invoicing, billing, billpay, accounts payable, payroll. Source: Crunchbase. Prestiamoci. Person-to-person consumer lender . Latest round: $2.2 million Series. Total raised: $3.5 HQ: Milan, Italy. Source: Crunchbase. Blockchain-based remittances. Source: Crunchbase.

FinTech 19

FinTech Online and Mobile Banking Bitcoin Underwriting 19

Fintech News

MAY 23, 2024

The Retail Banking segment focuses on lending and other services for individuals and small business customers. #10 Retail Banking provides loans to individuals and small businesses, along with liability products, card services, internet and mobile banking, ATM services, and NRI services, primarily through its branch network.

Online and Mobile Banking 129

Online and Mobile Banking Treasury Non-Bank Finance 129

Fintech Labs Insights

AUGUST 26, 2020

Finch : [Lending, Employee benefits, APIs] Product: API for developers to tap into payroll systems to verify income, set up direct deposits, pull paystubs, and confirm employment. Plunzo : [Account aggregation, SMBs] Product: Account aggregation for Latin American small businesses (SMBs). Traction: Unknown.

Payment APIs and Integration 12

Payment APIs and Integration FinTech API Credit Cards 12

CB Insights

NOVEMBER 21, 2019

HR, payroll, and benefits. Companies in this subcategory (1) provide technology to employers to automate human resources, payroll, and benefits processes, or (2) leverage technology to provide these services directly to end-users. or (2) leverage technology to provide P&C or life insurance products directly to end-users.

FinTech 93

FinTech End User Online and Mobile Banking Payment APIs and Integration 93

Fintech Labs Insights

AUGUST 1, 2016

Online payroll system. Alt-lender to small businesses. Alt-lending to small businesses. Alt-lender to small businesses. Tags: SMB, lending, credit, underwriting, payments, point-of-sale, mobile, trade finance. Total dollars raised YTD is now $17.4 billion, more than double the $8.4 LendingKart.

Underwriting 17

Underwriting Online and Mobile Banking FinTech Debit Card 17