LendingRSS

NAB gets down and under to overhaul SME business loans

NAB Logo

National Australia Bank (NAB) has unveiled a complete overhaul of its existing business standard loan form contracts that will “benefit” over 130,000 Australian business owners.

CFPB finalises US small-dollar lending rule

Finastra gains three US clients

The US Consumer Financial Protection Bureau (CFPB) has finalised its small-dollar lending regulation, which requires lenders (in many cases) to determine upfront whether people can afford to repay their loans, reports Paybefore (Banking Technology’s sister publication). “These strong, common-sense protections” cover loans that require consumers to repay all or most of the debt at once, […]

Top fintech stories this week – 6 October 2017

Banking Technology logo

Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Hey big lender! Finastra, R3 and seven banks have blockchain plan

Blockchain

Finastra, R3 and seven banks – including BNP Paribas, BNY Mellon, HSBC, ING and State Street – are working together to create a blockchain-fuelled online marketplace for the syndicated loan market. Underpinned by Corda, R3’s distributed ledger technology (DLT) based platform, Fusion LenderComm exposes real-time credit agreement, accrual balances, position information and transaction data to […]

Navient’s $155m acquisition shows the importance of being Earnest

acquisition

US asset management firm Navient will acquire education finance company Earnest for $155 million in cash as it hunts out new markets. As part of Navient, Earnest will continue as a “distinct brand” and will be led by its current management team, including founders Louis Beryl and Ben Hutchinson. Navient says Earnest clients will continue […]

SaaS-y Mambu powers New10’s Dutch SME lending

New10 a

New10, ABN Amro’s newly launched fintech firm, has selected Mambu’s Software-as-a-Service (SaaS) engine to power a range of SME lending products in the Netherlands. Like many start-ups, speed is part of the sales pitch, and New10 says it aims to provide credit decisions for SMEs within 15 minutes and offers a fully digital application process. […]

Credit Kudos receives FCA authorisation to shake up credit bureau market

Credit Kudos founders

Credit Kudos, a challenger credit bureau, has received the green light from the UK’s regulator, Financial Conduct Authority (FCA), to operate as a credit reference agency.

Three US credit unions added to Finastra client list

Finastra gains live site in China

Three credit unions in the US have signed for the lending software from Finastra (formerly D+H Corporation and Misys). These are Central Florida Educators Federal Credit Union, TruMark Financial Credit Union and Evansville Teachers Federal Credit Union.

Mediterranean Bank live with new lendtech, Infosys Finacle

Lendtech project for Infosys Finacle in Malta

Mediterranean Bank in Malta has replaced its legacy lending solution with Infosys’ Finacle.

SCU launches AI service for customer queries

Australia flag

SCU (formerly Sydney Credit Union) has partnered with Australian fintech firm Epictenet to implement an artificial intelligence (AI) powered platform for customer queries. The new platform, called “Let’s Chat” (in its initial phase), is programmed to respond to general queries related to home loans, personal loans, credit cards and insurance products. At a later phase, […]

@banking
techno