Despite record loan applications, Upstart's AI pulled back, causing a revenue miss and raising "incremental uncertainty" about its core underwriting model.

The AI-powered auto lender is the latest fintech to debut an IPO in recent months, even as a different auto lender filed for bankruptcy this week.

Strategically introducing AI bolsters FIS' value added services, and improves clients' scalability and decision-making.

Elliott will advance the firm's strategic initiatives and business development initiatives and ensure that customer experiences are seamless.

The agreement with D2 Asset Management doubles the firm's previous commitment to Unlock, as current economic trends provide momentum for the growing sector.

Small-business owners will be given the option to tap into anywhere from $50,000 to $500,000 in financing.

The Consumer Financial Protection Bureau said it would undertake a rule to regulate large participants in the personal loan market and consider a joint rulemaking with the Federal Reserve on check and ATM hold times.

The company's closure comes in a year when it touted successful capital investments but also faced growing legal scrutiny.

The company, which helped consumers strategize their credit card payments and pivoted to a B2B model earlier this year, has sold its intellectual property two months after it folded.

Companies announced new product rollouts and capital raises last month, but some are also facing lawsuits as the industry encounters heightened attention to the lack of consumer protections.

The company has signed an agreement to sell Continental Finance its entire card portfolio.

Federal Reserve Gov. Michelle Bowman said a lack of banking experience among regulatory officials has led to unintended consequences. She flagged mergers, fintech partnerships and liquidity proposals as prime examples.

At a New York event, industry practitioners shared how they are addressing cultural, compliance and logistical objections to making loans based on bank account data.

The Swedish institution is adding savings accounts to its signature buy now/pay later service as it plots an IPO. Analysts say it will be a struggle to go against U.S. institutions.

A long-time industry observer and bank regulation expert spells out the steps banks should take to ensure their fintech relationships are safe.

Investing in data governance, compliance and staffing appropriately can help manage the risks of offering banking as a service, experts say.

The partnership between personal finance platform Esusu and the National Rental Home Council has several of the trade group's members delivering payment data. They say that has helped result in over 85,000 originations across lending segments.

Dean Wheeler will drive the firm's growth push in the U.S. and follows the London firm promoting Serenity Morley to COO, to drive growth globally.

The company missed revenue projections, and it's trying to tap other funding strategies amid a "difficult lending environment."

The San Carlos, California, consumer lender said it's "exploring strategic options" for its credit card portfolio, discontinuing its investment and retirement products and sunsetting a partnership with Sezzle in addition to embarking on a new round of job cuts.