Upstart auto originations soar 224%
AI-driven lending platform Upstart’s auto originations soared 224% year over year in the fourth quarter amid improved liquidity and revamped…
Subprime lenders pull back from non-FICO borrowers
Subprime auto lenders that serve borrowers with no FICO scores are tightening underwriting standards and shifting strategies to prioritize loan…
Accion Ventures closes $61.6 million fund to invest in early-stage fintech
Non-profit group Accion International is boosting its investment initiative for seed stage fintech startups working on financial inclusion, raising $61.6 million from international investors.
Mastercard taps Marqeta for fast fintech card issuing in Europe
Mastercard is working with US card issuing platform Marqeta to provide a programme for European fintechs to rapidly deploy new applications, with Prague-based payments app Twisto the first beneficiary.
Rising finance incentives signal return to buyer’s market
Manufacturer incentives are on the rise as inventory continues to build, signaling a return to a buyer’s market in retail…
UK banks accused of failing on climate strategy
Despite much green talk, just two of the UK’s 36 main banks can clearly demonstrate effective plans to reduce their carbon impacts in a timely manner, claims research from the Ethical Consumer magazine.
Refi demand rising as consumers say auto loans are financial strain
Auto loans are burdening consumers, prompting an uptick in refinance demand as interest rates come down and lenders look to…
Donald Trump’s lenders of last resort: Subprime auto king and online bank
Donald Trump called California “a dumping ground” for “prisoners, terrorists, mental patients” in a September speech. It’s “not a great…
Parry shares 3 recommendations no matter if recessionary conditions are happening
Daniel Parry did not seek to have an economic or political argument about whether the U.S. is officially in a recession. Rather, the co-founder and chief executive officer of TruDecision maintained that risk is in play no matter how well … [Read More]
Russia cancels AmEx subsidiary’s banking licence
Russia’s central bank has cancelled the licence of American Express’s subsidiary in the country, at the payment company’s request, according to Reuters.
Taurus tokenizes SME credit for private debt investors
Deutsche Bank-backed Taurus is to tokenize the SME credit portfolio of Zurich-based Teylor, providing investors access to SME credit opportunities.
Consumers’ anticipation of being rejected for auto finance at highest level ever
Cox Automotive recently reported that access to credit in the auto-finance market improved in February, reaching the highest level since December 2022. But the February Survey of Consumer Expectations from the Federal Reserve Bank of New York’s Center for Microeconomic … [Read More]
Gaming elements boost app stickiness (Under the Hood)
Many auto finance apps allow consumers to search for vehicles and manage payments, but they fall short when it comes…
EBL to launch ‘world-first’ biometric metal card
Eastern Bank in Bangladesh is launching what it claims is the world’s first biometric metal card for premium customers.
Mambu hits €1.7 billion valuation on €110 million capital raise
SaaS banking platform Mambu has raised €110 million, bringing the company’s valuation to €1.7 billion.