In an OpEd, Michael T. Pugh, President and CEO of Carver Federal Savings Bank, argues that the role of Community Banks and CDFIs partnering with fintech platforms has never been more important in helping small businesses and entrepreneurs gain certainty with access to capital.
Read MoreLending and debt are far from novel concepts, but many of the technologies distributing and structuring them are. New tools like alternative data and AI have permitted capital to be given to more people, and, at least in theory, at lower costs. But, without the right boundaries in place, these debt-related products may lead to greater defaults, exploited consumers, and market collapses.
Read MoreAs a software solution connecting municipal bond issuers with investors, BondLink faces unique sales challenges, especially given its role in building both the supply and demand sides of a market.
Read MoreTo Patrick Reily, Co-Founder of Uplinq, underwriting models are an underlying and solvable factor behind the catch-22 of lending. With more holistic, dynamic, and contextual models, lenders can offer capital to more applicants while appreciating their real (i.e. for the large part reduced) risk of default, helping lenders extend loans to more people at fairer prices.
Read MoreIn a conversation with The Financial Revolutionist, Conductiv CEO Gopal Swamy, along with Zach Lambert, Head of Product, outlines what Conductiv does, and how the team went about building their product.
Read MoreIn an interview with The Financial Revolutionist, Nelson Chu describes Percent’s dual-pronged approach and outlines a promising future for private credit in a downturn.
Read MoreThe Consumer Financial Protection Bureau (CFPB) released a new report to expand "interpretive guidance or rules" related to the BNPL space. The CPFB hopes to align the industry with compliance standards introduced in the Credit Card Accountability and Responsibility Act of 2009.
Read MoreVik Venkatraman, General Manager for Blueprint, a real estate industry tech event taking place September 12 – 14 in Las Vegas, outlines the past, present, and future of proptech, suggesting the space impacts all of us.
Read MoreIn an interview with The Financial Revolutionist, Able’s Co-Founder and Head, Diego Represas, explains how Able hopes to solve major problems in the commercial lending space, outlines the founding team’s path to the product they’ve built, and shares his vision for an impactful and expedited commercial lending market.
Read MoreBNPL startups like Billie, Mondu, Tranch, and Two are offering short-term credit to businesses facing cash-flow crunches. The short-term B2B loan industry is currently valued at $700B.
Read MoreA new court filing suggests Celsius Network, the cryptocurrency lender that declared bankruptcy in July, only has enough money to sustain itself until October. At current crypto prices, Celsius holds $2.8B less in cryptocurrency than it owes clients.
Read MoreIn an interview with the Wall Street Journal, Affirm CEO Max Levchin said that a recession will prove Affirm’s underwriting models to be superior to those of banks. Affirm's stock has dropped 77% since its all-time high in November 2021; the S&P 500 has declined 9% in the same time frame.
Read MoreIn an interview with Bloomberg TV, MercadoLibre CFO Pedro Arnt said the company will continue to expand in the credit space. More than half of the Latin America-based e-commerce platform’s revenues now come from its fintech branch.
Read MoreFirms of all sizes in the mortgage space have announced major layoffs since the Fed increased interest rates to fight inflation. Analysts predict a 35% to 50% decrease in mortgage origination in 2022.
Read MoreIn a new report, the Consumer Financial Protection Bureau (CFPB) said consumers may be vulnerable to payment and lending apps that monetize users’ behavioral and spending data. The Bureau said it is planning to draft regulations to protect consumers’ financial data rights.
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
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