2017 Archives - Page 2 of 5 - LEND360

How Alternative Data is Making Credit More Available to Consumers

By: Michael Day, LEND360 Policy Director

Without credit, it is nearly impossible to buy a home or start a business. Many Americans face barriers accessing credit or pay more for credit. At times, this is due to a record of late payments or trouble documenting income. Still, a growing group of consumers either have no credit history or possess a history that is inconsistent. It is estimated that this affects 45 million consumers. Many in the fintech community are using alternative forms of data to expand access to capital.

Digital Identity Attributes:  The Key to Success in a Complex Regulatory and Competitive Market

By: John Dancu is CEO of IDology

Already under pressure to stay on top of a highly competitive market, new regulations will increase the cost of business, requiring additional processes and complicating compliance for online lenders. At the same time, across the board consumer expectations are high for experiences and applications that are smooth and frictionless. Top that with the growing consumer preference for mobile and many online lenders are wondering how to bring it all together. 

States are Key Players in Transforming the Consumer Lending Environment

By: Michael Day, LEND360 Policy Director

While the federal government gets most of the attention on the policy front, it might surprise you that in the past 12 months, almost a third of the states have passed more than 20 new laws that impact online lending. From loan caps and licensing to enhanced reporting and regulatory requirements, there has been a huge amount of change in consumer lending practices at the state level.  

Finance That Transforms Life

By: Ricardo Fernandez, Chief Marketing and Sales Officer, Prodigy Finance

 University students have a reputation for effecting change, and one of the most significant developments ever seen among tertiary students is underway right now. It’s happening with the support of the fintech sector.

Across the globe, a growing number of students are looking beyond the campuses of their own nations to secure a high-quality education that meets their long term ambitions. More importantly, many of these students are leaving homes in developing nations in search of a degree from a top-ranking global university.