Kabbage predicts 20% of all SME lending could be mobile by year-end

Global financial services, technology and data platform Kabbage is predicting a massive increase in smartphone-based lending among small businesses this year. It analysed nearly 150,000 US small businesses and found an increasing trend towards lending organised via mobile devices, with the number of loans increasing more than 300%. Kabbage executives say the growth demonstrates a new trend as small business owners expect a simple application process, with little delay before a decision is made before they can access working capital.

Kabbage predicts 20% of all SME lending could be mobile by year-end

Jun 11, 2018

Global financial services, technology and data platform Kabbage is predicting a massive increase in smartphone-based lending among small businesses this year. It analysed nearly 150,000 US small businesses and found an increasing trend towards lending organised via mobile devices, with the number of loans increasing more than 300%. Kabbage executives say the growth demonstrates a new trend as small business owners expect a simple application process, with little delay before a decision is made before they can access working capital.

Car buyers ready for online finance

Transparency, personalisation and speed are three key criteria that will drive growth of online auto loans, according to new research. There is huge potential demand among consumers, with 48% in the UK saying they plan to apply for their next auto loan online, but adoption rates remain low. According to analytic software company FICO’s first global survey on automotive financing, 63% of UK consumers acquired their most recent automotive loan at a dealership, while 15% went online. Globally, the average online loan rate is around 10%.

Car buyers ready for online finance

Jun 11, 2018

Transparency, personalisation and speed are three key criteria that will drive growth of online auto loans, according to new research. There is huge potential demand among consumers, with 48% in the UK saying they plan to apply for their next auto loan online, but adoption rates remain low. According to analytic software company FICO’s first global survey on automotive financing, 63% of UK consumers acquired their most recent automotive loan at a dealership, while 15% went online. Globally, the average online loan rate is around 10%.

Healthy ‘app-etite’ for digital financial services

Digital innovation is transforming the way people manage their money, with apps leading the way, as UK consumers logged into banking apps 5.5 billion times last year. Increasingly, customers are utilising new technologies to talk to experts outside conventional bank branch hours rather than taking time out of their working day, with major banks reporting more than 5.5 million webchats with customers in 2017. According to a new report, the popularity of social media apps such as Twitter, Facebook Messenger and WhatsApp, is encouraging consumers to take advantage of webchat services when they are offered by financial providers.

Healthy ‘app-etite’ for digital financial services

Jun 07, 2018

Digital innovation is transforming the way people manage their money, with apps leading the way, as UK consumers logged into banking apps 5.5 billion times last year. Increasingly, customers are utilising new technologies to talk to experts outside conventional bank branch hours rather than taking time out of their working day, with major banks reporting more than 5.5 million webchats with customers in 2017. According to a new report, the popularity of social media apps such as Twitter, Facebook Messenger and WhatsApp, is encouraging consumers to take advantage of webchat services when they are offered by financial providers.