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Government stimulus measures hurt cash converters lending business, online retail grows
Retailer and payday lender Cash Converters has seen an increase in online demand over the past six months, with online sales rising 39% to $ 5.3 million. Overall, however, the company’s revenue fell 31 percent to $ 98.4 million, and EBITDA fell 19 percent to $ 24.6 million. “The performance of our underlying business model …
Ohio Gives Rocket Mortgage Tax Relief for Cleveland Loan Company’s Expansion Plans
CLEVELAND, Ohio – An Ohio board of directors on Monday approved a tax credit worth up to $ 9.6 million for plans by mortgage lender Rocket Mortgage to create hundreds of full-time jobs in Cleveland. The state tax credit authority approved the 2.2% 10-year tax credit for the Detroit-based business to create new jobs – …
NPC recommends suing online loan company for data privacy breach – Back End News
The National Data Protection Commission (NPC) of the Philippines concludes that the operator of Fynamics Lending Inc., the operator of the online lending application PondoPeso, has violated the provisions of the Data Protection Act of 2012 In 2019, the NPC called 67 online lenders for complaints to publicly shame their clients who are unable to …
Online Loan Company Faces Data Privacy Breaches For Allegedly ‘Shaming’ Borrowers To Pay Off Debt
Owners of an online loan app that allegedly violated data privacy rules are now subject to the full force of the law and could end up with six years in prison and paying up to 6 million pesos. ‘fine. The National Commission for the Protection of Privacy (NPC) on Friday recommended the prosecution of Fynamics …
AAVE or COMP: which DeFi lending platform has an advantage?
The top three DeFi projects currently listed by DeFiPulse include Maker, AAVE, and Compound. All three are categorized as loans, but there has been a small change over the past few weeks. While Maker maintained its top spot, AAVE edged out Compound in the rankings. Since the beginning of January, AAVE has added more than …
DIY Mortgages: New Online Private Lending Platform Helps Users Get The Best Mortgage Possible
(This story is sponsored by .) Buying a property and keeping track of expenses can be stressful, which is why homeowners need the best mortgage and the best possible rates. It is not “Home Sweet Home” without a sweet mortgage. BC’s latest innovative mortgage and loan platform,, helps consumers find the best rates using machine …
Former banker carves out niche in digital credit
Technology Former banker carves out niche in digital credit Thursday 04 February 2021 Little Pesa Limited Managing Director Rakesh Kashyap. PHOTO | DIANA NGILA | NMG By PATRICK ALUSHULAMore from this author Summary Rakesh Kashyap is a seasoned banker who has worked in the industry for over 42 years, including 25 years in India and …
Lufax results show she emerged from peer-to-peer lending unscathed
Lufax Holding Ltd. appears to have come out unscathed from its decision to exit the scandal-prone and heavy-regulatory peer lending business as it posted healthy fourth quarter earnings growth. The fintech player, backed by financial conglomerate Ping An Insurance (Group) Co. of China Ltd., focused on wealth management after choosing to leave the peer-to-peer lending …
Billings Federal Credit Union’s short-term loans, powered by the QCash Financial platform, offer members a quick way to manage emergency expenses
OLYMPIA, Wash., February 3, 2021 /PRNewswire/ — Based at Billings, MontanaBillings Federal Credit Union (BFCU) launched a new small loan product on November 30and2020. QCash is a short-term loan ranging from $250 for $1,000 that helps members meet unexpected cash flow needs through an easy-to-use mobile application process. Main branch of Billings Federal Credit Union …
Metrics implements nCino to grow its business lending activity
SYDNEY, Australia, February 01, 2021 (GLOBE NEWSWIRE) – nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Metrics credit partners, one of Australia’s leading non-bank lenders, has adopted the nCino Bank Operating System® transform their business lending practices to further support sustained …
Former Freddie Mac boss to lead new loan platform Meridian
Meridian Capital Group announced a partnership to create a new agency lending platform. David Brickman, who until recently was CEO of Federal Home Loan Mortgage Corporation (Freddie Mac), will lead the platform as CEO. Under the terms of the agreement, the joint venture will acquire the assets and liabilities of Barings Multifamily Capital, LLC, including …
TCF expands equipment lending business with acquisition
National Bank TCF is expanding its lending capabilities in the commercial equipment sector. The Detroit-based bank said in a press release on Monday that it had acquired BB&T Commercial Equipment Capital Corp. in Malvern, Pennsylvania. A TCF spokesperson declined to provide an acquisition price for the deal, citing confidentiality. The deal includes about $1 billion …