Alternative lenders front of mind 18 April 2019 4:07PM Business lending John Kavanagh The CEO of lender OnDeck, Noah Breslow says, rather than a fallback option after rejection by a bank, online lending is now the first choice for many Australian SMEs. read more
'Make-or-break' conditions set for new growth phase 28 September 2018 4:50PM Consumer lending Bernard Kellerman The next six months will be make or break for peer-to-peer lending and investing in Australia says analytics company GlobalData. read more
Fintechs bug ANZ 23 May 2018 5:10PM Major Banks Ian Rogers Fintechs are making ripples in the market for the supply of loans to very small businesses, a senior executive of ANZ confirmed at the Hayne royal commission yesterday. read more
Lending Express secures angel funding, takes on US market 23 May 2018 5:09PM Business lending Bernard Kellerman Lending Express, a fintech claiming bragging rights as "the only AI-powered marketplace for business loans", today announced the securing of an US$2.7 million investment round, led by Entrée Capital,.. read more
Fintech report calls for clarity and transparency 28 February 2018 5:57PM Business lending Bernard Kellerman The Australian Small Business and Family Enterprise Ombudsman, FinTech Australia and theBankDoctor.org released a joint report today outlining the steps taken by fintech lenders to increase transparen.. read more
Brief: Investment bankers line-up for Prospa IPO 21 December 2017 6:28PM Briefs Banking Day staff The AFR's Street Talk understands a handful of banks have pitched to Prospa's chief executives Greg Moshal and Beau Bertoli in recent weeks, ahead of a possible ASX listing. read more
Foreign news: HSBC reprieve, Bitcoin futures launch, Russian hackers pocket millions, P2P boom in UK 12 December 2017 5:42PM Foreign news Banking Day staff The US Department of Justice has dismissed the deferred criminal charges that have been hanging over HSBC since the bank was fined for money laundering and sanctions breaches five years ago. read more
Briefs: NAB cull begins, new Rabobank chair, NZ P2P stats out 28 November 2017 6:20PM Briefs Banking Day staff National Australia Bank began handing out notice of dismissal to select key staff yesterday, with The Australian reporting that "a handful of the executive general managers" have lost their jobs as th.. read more
SME lender eliminates fraud with airport level security 07 July 2017 2:33PM Business lending Bernard Kellerman Sail Business Loans co-founder and CEO Yanir Yakutiel is confident he has a business model that works. With early round funding secured from wealthy family offices, and insto investors ready to b.. read more
ASIC worries collections and lending won't mix for marketplace lenders 05 June 2017 4:28PM Finance regulation John Kavanagh The corporate watchdog has highlighted conflicts of interest in the marketplace lending industry that may need to be managed better.The Australian Securities and Investments Commission on Friday relea.. read more
Prospa steps up in business finance 15 May 2017 3:52PM Business lending Ian Rogers Business lender Prospa is racking up milestones, with the outfit set to soon surpass A$350 million in loan originations, joint CEO Beau Bertoli said on Friday. read more
Australian shadow banks in global eye 26 April 2017 3:33PM Finance regulation Ian Rogers Shadow banking entities in Australia "deserve particular attention", an assessment by Canada's Global Risk Institute has concluded. read more
Briefs: BCCU stirrers late to scene, Business credit lifts, SocietyOne busy in March 05 April 2017 3:40PM Briefs Banking Day staff A late campaign by a group of agitators and members seeking to derail the proposed merger of Bankstown City Credit Union with Unity Bank may be missing its mark. read more
Agency risk elevated in P2P sector 20 March 2017 4:58PM Major Banks Bernard Kellerman Peer-to-peer lenders, claimed by their proponents to create agile businesses, carry their own set of financial and operational risks, an industry exec explains. read more
Foreign news: MoneyGram bidding war, new rules for small-loan companies, UK bankers fall short on et 15 March 2017 5:03PM Foreign news Banking Day staff Euronet Worldwide has trumped Alibaba's bid for MoneyGram. read more
Foreign news: Lloyds fines halved and profits double, Marketland names new director 24 February 2017 5:02PM Foreign news Banking Day staff A new "lean and mean" Lloyds Banking Group reported its statutory profits rose by 158 per cent. read more
SME fintech lender Prospa in $25m venture capital funding deal 23 February 2017 5:16PM Major Banks Bernard Kellerman Online leader Prospa has landed what it claims is the largest fintech venture capital investment to date in Australia. read more
MoneyPlace cedes control to bank 17 February 2017 5:03PM Authorised deposit-taking institutions Ian Rogers Auswide Bank will emerge with a controlling interest "of at least 51 per cent" in MoneyPlace Australia under a capital raising by the specialist lender now underway. read more
Foreign news: China's banks turn to shadow market 16 February 2017 5:08PM Foreign news Banking Day staff New data from the People's Bank of China pegs total social financing in China at 3.74 trillion yuan (US$544 million) in January. read more
Investors not ready for marketplace lender ABS issuance 23 November 2016 4:50PM Consumer lending John Kavanagh Until the marketplace lending industry matures, the risks outweigh the benefits of marketplace lenders securitising their assets, according to a panel of institutional investors. read more