Nova Credit’s Post

If you are in a product company, you will surely hear this dialogue from your customers/prospects: 'This feature has to be in your product. This is basic functionality.' Recently, one of our conversations with my prospect: Me: We have not integrated this API into our product. Lender: So? Me: So, you'll have to pay for this API integration. Lender: This API has to be a part of your product. I can’t pay for this integration. Me: Have you been to the Global Fintech Festival (GFF) before? Lender: No. Next time, I'll have to go. Why are you asking? Me: Sir, there were more than 200 stalls, and everyone was selling some APIs. Next time, when you go to GFF, you will see 200 new stalls selling some APIs. As a product company, we will integrate only the APIs that are in our product roadmap. Lender: Alright. What's the best deal that you can give for the integration of that API? Me: Thank you, sir, for understanding. Have you had any of these conversations before? Post in your comments.

Good morning, catch up on this week's PeerIQ by Cross River newsletter, sent out yesterday. Here are the highlights: ⤵⤵⤵ ➡ Consumers lean on their credit cards ➡ The CFPB targets “junk fees” ➡ DailyPay, Inc. raises $175Mn ➡ ModernFi raises $18.7Mn ➡ Sunbit secures new debt facility ➡ Klarna targets IPO, rolls out subscription service ➡ TransUnion credit data ➡ Earnings season continues (American Express, Capital One, Synchrony, Visa) Link to this week's edition in comments: ⤵⤵⤵ #consumerlending #fintech #baas

👀 We found this post from This Week in Fintech so interesting about where Fintech People Bank. The chart shows below that Gen Z Fintech People are not looking at Credit Unions to hold their deposits. They are going to alternatives with greater offerings and user experience. Bits of Stock wants to reverse this trend by partnering with Credit Unions and Community Financial Institutions to make their offerings more engaging and involved for the long-term. 📖 Read the whole thing: https://lnkd.in/dbREYihs

Discover the Future of Credit Decisioning with Monevo. 🚀 Our next-generation platform empowers you to host credit strategies and make offers with unparalleled ease. Create credit rules and models and offer information in real-time, all from a user-friendly, no-code dashboard. Seamlessly manage and update credit rules, models, and offers on the fly, ensuring your strategies are always up-to-date. Leverage multiple data sources by connecting to 3rd party data and decisioning sources via Monevo’s flexible API infrastructure. Apply diverse strategies across partners, campaigns, products, and personas to optimise your credit decisioning process. Experience the power of control and flexibility with Monevo. Request a demo today and see how Monevo can revolutionise your credit strategies in real-time. 💡 #Monevo #API #financialservices #fintech #creditproviders #banks #CustomerExperience #CreditSolution

An extremely important question that I haven't seen anyone ask (at least in this specific way) - How are consumers supposed to tell the difference between good fintechs and bad fintechs? The FDIC's suggestion that consumers just shouldn't work with fintechs is dumb and unhelpful. However, if we accept the fact consumers will continue to work with fintechs and trust them with their money, then we need to wrestle with this question. Chime and Yotta probably look very similar to consumers, from a safety perspective. However, as we have seen, they very much are not. That's a problem for Chime and all the other Chimes out there. And it might be one that they want to work together to address (perhaps through a fintech SRO?)

The FinZeo™️ platform is set to revolutionize the credit union industry with its upcoming rollout. As the company's largest banking integration to date, this is a game-changer for one-third of Americans who are credit union members. Get ready to streamline your financial experience and take your banking to the next level. Stay tuned & subscribe to our emailing list for more updates! 🚀📈💳 #DigitalPayments #CreditUnionRevolution #AppTech

Fintech Meetup has kicked off at the Venetian in Las Vegas and Change Financial are excited to be here this year. 🇺🇸 If you are heading to the event, make sure you connect with Greg Johnson who is attending for Change. Greg is looking forward to connecting with other leaders from fintech, banking, payments and lending to discuss the big issues, challenges and opportunities facing our industry. 🗣💳 #fintechmeetup #vegas #payments #fintech

Today on Money isn't everything, Mary Wisniewski chats with John Thompson, VP of Product Management for Financial Services at H&R Block. They discuss how folks discover Spruce (the brand's neobank), debunk myths about financial health and tackle the tricky world of fast (and slow) payments. Plus, John reveals his love-hate relationship with tax refunds. 📺🎧 https://lnkd.in/g3Tb9KkW #spruce #neobanks #payments #moneyisnteverything

Say what we like, a bank is all about lending! While liabilities can lower the cost of capital, it always ends up being about a loan. Transactions and the derived data are the key ingredients to a loan. It is this this can push an institution to profitability assuming all the elements are in place to support a lending product. It appears many Neo Banks are now starting to see this, it’s going to be interesting to see if they are able to pivot and who the winners and losers will be. There is absolutely a place for a well run, efficient Neo Bank that provides great UX awesome transaction capabilities and an affordable relevant loan!

“We’re about relationships, not transactions. We are very people-focused. This goes back to my personality. We truly exist for relationships. We don’t even have any drive-throughs. Because what is a drive-through? It’s a transaction. If I just told you, “I don’t do transactions, I do relationships.”  But I give you a bunch of transaction opportunities. Our business model is a little bit different. A lot of banks are forcing it more online and self-service. Yes, we have the same slick apps for those that need self-service. You don’t have to come in to see us; you can do everything online. We’ve got to give that option, but you’re not going to experience our full value proposition if you just use our online portals exclusively. At Propell, it's not banking, it's belonging." VISTA.Today #CEO #CreditUnion #Belonging #Banking View Full Article: https://lnkd.in/eFjsPMJ8