Real-time Funding of Loans to Small Businesses
July 6, 2017
Online and alternative lending is satiating consumers’ need for speed when it comes to accessing finance. But, while an online loan decision may be near-instant, borrowers may still have to wait several days to actually see the money — and what’s the good in news like that?
In the third episode of our “Kill The Check” series, Ingo Money’s CEO Drew Edwards spoke with PYMNTS about the demand lenders face not only to fast-track approvals, but also to push payments into the accounts of borrowers — regardless of account type.
“So, many of these lenders have been wrestling with this problem for a long time,” said Edwards. “The number one complaint they get after a loan is approved is, ‘Why do I have to wait on my money?’”
- // TAGGED
- Podcasts
Latest Resources
Video
What’s Top of Mind for FinTechs? Getting Profitable, Says Payments CEO
With the new year comes new expectations for FinTech firms.
Video
H&R Block Taps Ingo Money and Urban FT to Fight Mobile Check Deposit Fraud
Recent PYMNTS data finds that fraud losses run about 2% of revenues — $51 million annually for the average FinTech.
eBook
The FinTech Fraud Ripple Effect
The FinTech Fraud Ripple Effect details the frictions customers experience when using FinTechs for their money mobility needs.
PYMNTS.com
Money Mobility Tracker – November 2022
With more workers living paycheck to paycheck, having fast access to their hard-earned cash is crucial.
