Lending


Lending start-up Taplend launches in UK

Fintech start-up Taplend has launched in the UK offering a combination of peer-to-peer (P2P) and payday lending. Viktor Ihnatiuk, CEO and co-founder of Taplend, says: “This was a very long, hard and interesting year. We made three iterations of the product, tried to enter the US market twice and failed. We didn’t give up, switched […]

LandlordInvest now fully authorised by FCA

LandlordInvest, a peer-to-peer (P2P) lending platform for buy-to-let and bridging loans, has gained full authorisation from the UK regulator, Financial Conduct Authority (FCA).

Infosys Finacle underpins Goldman Sachs’ new lending business, Marcus

Marcus, a newly launched online lending platform of Goldman Sachs, is running on Infosys’ Finacle core software. As Banking Technology exclusively reported earlier this year, Goldman Sachs has been working with Infosys on a new digital venture. The solution, which supports “the complete consumer loan-servicing lifecycle” at Marcus, is deployed in the cloud and hosted […]

Lender firm Zopa to launch new digital bank

The “world’s first” peer-to-peer lender Zopa plans to launch a new digital-only bank in the UK. The application for a banking licence will be made to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). The firm says the regulatory application process should take about 15-24 months. Jaidev Janardana, CEO of Zopa, says […]

Misys in five-year Deutsche Bank deal

Misys has signed a five-year enterprise license agreement with Deutsche Bank giving it “unrestricted access” to deploy Misys FusionBanking Lending and Misys FusionCapital solutions across the business. Misys’ FusionBanking Lending offering includes the Loan IQ back office platform for syndicated lending and the front-end that originates from Custom Credit Systems (CCS), a US-based provider of […]

Five-Star for Nucleus Software’s lending solution in the cloud

India-based Five-Star Business Finance is modernising its lending operations with a new platform, FinnOne Neo, provided by local specialist vendor Nucleus Software. The solution will be delivered in the cloud. Five-Star is a non-banking finance company, and provides small business and small housing loans to “underbanked customers”. It chose FinnOne Neo to “help scale [its] […]

Farm Credit Services of America digs Fiserv’s DNA for lending

Nebraska-based Farm Credit Services of America (FCSAmerica) has chosen Fiserv’s DNA core account processing platform to support its agricultural lending operations. After evaluating 20 systems, FCSAmerica selected DNA to replace its existing core system. Banking Technology understands the lender has been using Misys’ FusionBanking Loan IQ system for the last five years or so, for […]

UK challenger Amicus applies for banking licence

Amicus Finance, a UK financial services group, has submitted a banking licence application to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). It hopes to get the banking licence in 2017. In advance of authorisation, Amicus will convert £30 million of the debt currently used to fund its lending activities into equity […]

Goldman Sachs launches new online personal loan platform, Marcus

Goldman Sachs has unveiled Marcus, an online platform offering unsecured personal loans to consumers. Named after Marcus Goldman, one of the firm’s founders, the platform provides consumers with a way to “consolidate their high-interest credit card debt”. Borrowers can apply for fixed-rate, no-fee personal loans of up to $30,000 for periods of two to six […]

Morgan Stanley lends $100m to start-up lender Affirm

San Francisco-based start-up lender Affirm has got a $100 million credit line from Morgan Stanley as it looks to boost its business, according to The Wall Street Journal. The firm is “adding debt” as it “seeks to grow its loans for tickets, trips, and other big online purchases as an alternative to paying with credit […]

Aurora Exchange partners for P2P lending platform launch

Finland-based Aurora Exchange, a consumer loans exchange, has teamed with two firms for its P2P lending platform launch. Maiden Life, based in Sweden, brings its payment protection insurance to cover “all loans” against borrower’s death, permanent and temporary disability with lenders as beneficiaries. Mangopay will act as Aurora Exchange’s custodian and payments technology provider. Mangopay […]

LendingWell wins LendIt start-up contest

LendingWell, a single-platform P2P lending partner, is the winner of the first PitchIt @ LendIt Europe, a competition aiming to find a future star within the online lending and fintech space. LendingWell provides access for retail investors and independent financial advisors to the broader P2P lending market. Co-founded with Liberum Alternative Finance, it provides customers […]

Georgia’s TBC Bank finds time for FICO credit application software

Georgia-based TBC Bank has opted for FICO’s Origination Manager 4.5 software, used for decision making on credit applications. As a result, the bank says it has cut credit decisions and disbursement down from a day to 15 minutes. Giorgi Alibegashvili, strategic project manager at TBC Bank, says FICO Origination Manager gives it a “competitive advantage, […]

Community Savings Bank Association joins UK challenger bank ranks

A new challenger has joined the UK’s banking market, Community Savings Bank Association (CSBA). The association is working with an established bank, Airdrie Savings Bank, to set up a UK-wide network of independent, customer-owned, regional banks. These banks will support local communities and businesses.

SKG Bank launches digital-only lending and consumer credit service

SKG Bank, the consumer finance arm of Deutsche Kreditbank (DKB), has unveiled a digital-only lending and consumer credit service. In co-operation with Munich-based FinTecSystems, DKB says in the future loans can be arranged without submitting documents such as bank statements. Thomas Teuber, director of SKG Bank, says its customers “can close more quickly and completely […]

Banking Technology Awards 2016 – shortlist unveiled

Our rejuvenated Banking Technology Awards have received an unprecedented amount of entries this year – from banks, financial institutions, fintech firms and individuals worldwide – and we are happy to reveal the shortlisted candidates. Now in their 17th year, Banking Technology Awards recognise and reward excellence and innovation in the use of IT in financial […]

Mambu plans to onboard 50 new clients by year-end

Fintech vendor Mambu says it has added 25 new clients to its portfolio this year and is set to double this figure by the end of 2016. It will also more than double the size of its team by the year-end. “All [of Mambu’s new customers] are focused on servicing consumers and businesses poorly reached by […]

LendIt and Capital One launch fintech start-up competition

Lend me your ears… and eyes. LendIt and Capital One are to co-host PitchIt @ LendIt, a competition to “find a future star of the fintech world”. The competition is aimed at firms innovating within the online lending and fintech space. It provides a showcase for eight firms to pitch their business case to a […]

Wells Fargo and Amazon abruptly kill off US student loan partnership

It only lasted six weeks but Amazon and Wells Fargo Education Financial Services have ended their partnership to offer US college students a discount on private student loans. The deal, launched in July, was Amazon’s first venture into the lending market for college students. For Wells Fargo, it was an attempt to build up its […]

New US clients for Temenos’ Akcelerant subsidiary

Banking technology vendor Temenos says 16 financial institutions in the US have signed for its account and loan origination, collection and recovery software in the last six months. The suite of products originates from a local specialist vendor, Akcelerant, which Temenos acquired in early 2015; and 600+ credit union clients with it. Jay Mossman, formerly […]

Top ten lending sites in the US – July 2016

Who is leading the digital way among the lending companies in the US? We have put together some nifty stats for the US top ten online lending sites for the past month (data courtesy of SimilarWeb). We’ll be publishing regular updates on a monthly basis, to track the changes, developments and trends – to bring you a fuller […]

Microcred to become fully-fledged bank; Temenos to provide core banking tech

International microfinance entity Microcred plans to become a fully-fledged retail bank and grow its presence from nine to 17 countries by 2020. It has opted to keep its long-standing technology provider, Temenos, and upgrade to a single instance of the vendor’s flagship system, T24. It will be operated from Dakar, Senegal. Microcred has recently signed […]

Top ten lending sites in the UK – July 2016

With digital financial services sharply on the rise in the UK, who is leading among the UK lenders? We have put together some nifty stats for the top ten online lending sites in the UK for the past month (data courtesy of SimilarWeb). We’ll be publishing regular updates on a monthly basis, to track the changes, […]

SAB lands first core banking software deal in UAE, with Reem Finance

UAE-based Reem Finance has overhauled its core software with French vendor SAB and its flagship core banking system, SAB AT. This is the first taker of the system in the UAE, to Banking Technology’s knowledge. Banking Technology understands that on the way out is the Ethix system from regional vendor International Turnkey Systems (ITS). It […]

Top ten lending sites in India – July 2016

Who is leading the digital way among the lending companies in India? We have put together some nifty stats for India’s top ten online lending sites for the past month (data courtesy of SimilarWeb). We’ll be publishing regular updates on a monthly basis, to track the changes, developments and trends – to bring you a fuller picture […]

Fintech funding round-up: 15 August 2016

Let’s put the fun in funding by keeping it mercifully brief. A round-up of some key events. Finova Financial’s cloud and mobile-based consumer auto title lending platform raised $52.5 million in a combination of equity and a credit facility, one of the “largest initial rounds in fintech industry history”. The funding round was led by […]

Losses at the double for Lending Club

Lending Club has experienced a double blow – with a net loss of $81.4 million and the departure of its CFO. These latest developments follow in the wake of the recent jobs cuts and reorganisation of its top brass. That was all initiated as the firm is looking to rebuild investor confidence following the untimely […]

Pennsylvania credit union goes live with Temenos’ lifecycle management suite

Pennsylvania State Employees Credit Union (PSECU) has gone live with Temenos’ Lifecycle Management Suite’s account origination module. Temenos says PSECU was looking for a method to “streamline” the account opening process for both deposit and loan-based accounts. Andrew Coy, AVP of lending, PSECU, says the account origination solution goes “hand-in-hand with the other Temenos Lifecycle […]

Diasoft scores second win in Vietnam with TPBank

Russia-based banking tech vendor Diasoft has landed its second deal in Vietnam, with TienPhongBank (TPBank). TPBank will implement Diasoft’s loan origination and debt collection solutions, part of a broader Flextera software suite. Diasoft’s first contract in Vietnam (and the vendor’s first in South East Asia) – signed in 2013 – is with Vietnam International Bank […]

Shubham Housing Finance opts for Nucleus’ FinnOne lending platform in the cloud

India-based Shubham Housing Development Finance Company has implemented Nucleus Software’s FinnOne Neo, a loan lifecycle management solution in the cloud. Nucleus says Shubham is one of the first dedicated housing finance companies in India to set up their lending platform on cloud infrastructure. Ajay Oak, chief operating officer of Shubham, says Nucleus was chosen “because […]

Fiserv gains with Dakota Plains

Dakota Plains Credit Union has replaced its existing system with an integrated technology suite from Fiserv, including XP2 for core account processing. The North Dakota-based credit union will also use Fiserv’s Virtual Branch for online banking, Mobiliti for mobile banking, CheckFree RXP for electronic payments, Statement Advantage for statements and e-statements, Wisdom for comprehensive accounting […]