Banking and Finance Industry Insights

Decreasing the Burden of Centralized Data Collection on Small Business Lenders

Recently, I served as a panelist at a Consumer Financial Protection Bureau (CFPB) symposium on Section 1071 of the Dodd-Frank Act, which requires the CFPB to centralize collection of small business lending data and make it public.

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Digital Lending and Main Street Credit in 2019: Major Milestones

As we look back on 2019 and what has affected the flow of credit to private businesses, there are five key areas of impact on the digital lending space.

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Prepare for Recession, Plan for Growth

Now is the time for lenders to prepare for a credit cycle downturn so their organization is ready when - not if - recession arrives. When it comes to your own business decisions, understanding your risk on both the front end and back end becomes more critical during a recession. This article lays out the three tools lenders should use to prepare so they can mitigate risk and focus on growth when the recession does arrive.

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Key Steps to Prevent Commercial Lending Fraud

Commercial lending fraud is on the rise, and both online and traditional banks as well as credit unions are challenged with identifying, weeding out and tracking suspicious activity. As technology creates increased convenience and accessibility for customers, it also creates opportunity for criminals.

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Q3 Macroeconomic Update

A series of economic headwinds — including a weakening industrial sector, ongoing trade tensions, and softening business investment — are creating an increasingly uncertain operating environment for small business.

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The Next Recession is Coming – Here’s How to Prepare

As recent stock market fluctuations are telling us, a recession is coming – and the market knows it. While we can’t predict the future, current economic conditions can help us understand the type of recession we may face, giving insight into the changing business cycle and how to prepare for what’s to come.

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ARE YOU READY FOR THE NEXT RECESSION?

As growth has slowed in 2019, we are reminded of the Great Recession, and we are increasingly on the lookout for the next one. It’s a question of when—not if—a recession will arrive. Now is the time to prepare so we are not only ready but also poised for growth when the next recession is here.

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Why Commercial Credit?

For 3,000 years, the process of making a loan to a small business has remained largely unchanged. However, we’re at a transition point in history in which technology can help this millennia-old process evolve.

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How Small Business Owners and Entrepreneurs Can Capitalize on the Fed's Rate Cut

On July 31, the Federal Reserve did something it hasn’t done in 11 years: it cut the federal funds rate by 25 basis points, to a target rate of 2.0 percent to 2.25 percent. The Federal Open Market Committee voted by a wide margin to lower rates as a precaution against signs that the US economy may be slowing after an unprecedented expansion.

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Digital Lending: The Next Era of Banking

Across the board, conditions are good for bankers. However, as banking’s “Goldilocks” era – marked by upward growth momentum, low inflation, and historically low financial market volatility – inevitably wanes, the banking industry will enter a new stage: that of digital lending.

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Three Ways Automation Fuels Small Business Lending

Building a business is fraught with risks. Chief among them is access to capital. A recent survey by the Federal Reserve shows that 64% of small businesses face financial challenges and more than two thirds of them use their own personal funds to support their businesses.

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The Pursuit of One-Click Commercial Credit: What you Need to Know

The race is on to figure out fast, safe, and low-cost lending to small- and medium-sized businesses, accelerating the journey towards the ultimate goal of one-click commercial credit – or using automation to simplify credit to the point of a single click.

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Client Responses to the PayNet/Equifax Merger

Recently, PayNet and Equifax combined forces. In making this decision, the key considerations were our customers, our employees and our overall businesses.

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Tariffs and the Potential Impact on Small Businesses

The ongoing trade rhetoric with China and threats of new tariffs on Mexico have the potential to negatively impact not only our largest corporations but the 30 million small and mid-sized businesses (SMB) in the United States. These SMBs, which fuel economic growth on Main Streets across the country and employ half of all working Americans, have reasons to be concerned.

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PayNet Five To Know | May 2019

See what PayNet’s been up to in May. Check out the latest edition of the PayNet 5 to Know newsletter, which covers PayNet’s top 5 news items, research, articles, and videos that have been released each month.

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The 20-year Challenge: Commercial Lending Then & Now

2019 marks PayNet’s 20th anniversary, and I am excited to celebrate this milestone with the people who propelled us to where we are today. While we’ve grown, our core mission of fixing the broken credit system with reliable, transformational Main Street credit assessment solutions has remained the same.

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A Recap of 2018 Events: The Digital Lending Revolution

Digital transformation – a key trend in lending – is top-of-mind for financial institutions evaluating their strategy in 2019. Technology has the power to streamline business operations and bring new revenue opportunities to organizations that prioritize digital growth.

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Digital Disruption and Why Lenders Should Care About Brand

Every business leader faces the challenge of communicating brand in a way that's relevant to customers and prospects. Historically, business strategies put more emphasis on marketing products - but as technology continues to advance - new solutions are emerging and creating an overcrowded, hard-to-differentiate marketplace..

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Uberization: Just a Good Idea or a Transformational Business Strategy?

Digital disruption is here. In an era in which consumers demand instant gratification – usually via their mobile devices – organizations are faced with the dilemma of transitioning their ‘business as usual’ mindset to a more modern, innovative way of thinking.

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Taking a Cue from FinTechs

There’s no doubt that private businesses have a profound effect on the economy. With over 28 million private businesses that account for at least half of the U.S.’s GDP, this segment plays a significant role in how our nation is doing when it comes growth or contraction.

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Utilizing Technology to Capitalize on Rising Commercial Growth

The U.S. is undoubtedly experiencing economic growth – with the GDP rising 3% over two of the last three quarters.

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Closing the Growing Private Business Credit Gap

While the U.S. economy has shown its recovery from the Great Recession in most ways, small business lending isn’t one of them.

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Lessons from Testifying Before Congress

All eyes were on Mark Zuckerberg as he testified before Congress. As I watched, I was reminded of my own experiences testifying before Congress.

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How to spark transformation in 2019

First off, we’ve refreshed our corporate brand, which you can see in full display on our relaunched website. This identity brings a clear focus to who PayNet is today, a company fully energized and engaged in the transformation of commercial lending.

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