Jun 17, 2020

OneSpan webinar: digitising the commercial lending process

Matt High
1 min
Digital Lending
A new webinar from OneSpan discusses how to digitise the commercial lending process in times of crisis...

The global COVID-19 pandemic has brought unprecedented change to individuals, businesses and economies worldwide.

As a result, many businesses and institutions have faced unparalleled financial impact that has seen governments around the world issuing economic stimulus and relief packages.

Due to the severity of the impact of coronavirus, a large number of businesses affected need these funds as quickly as possible.

This means that a smooth lending process is paramount.

Achieving that is the subject of a new webinar from digital identity and anti-fraud leader, OneSpan that will be held on 18 June at 3pm AEST.

In Digitising the Commercial Lending Process, OneSpan discusses the impact on businesses of the current crisis in more detail.

It expands on the importance of a smooth, digitally-driven lending process that enables businesses to get the funds they need to ensure survival.

OneSpan explains that, from the EU, where the European Investment Fund will guarantee loans to at least 100,000 European SMEs and small mid-cap companies, to Japan, where SMBs and large organisations are being offered various stimulus packages, global lending continues at pace.

In the 18 June webinar, which is held in association with Loan Market, expert speakers will expand on the importance of quickly digitising the commercial lending process in times of crisis.

This will ensure that customers are being helped in their moment of need through the use of electronic signature and ID document verification.

Join the webinar to find out more on:

  • How e-signature can help meet the urgent need for small business loans
  • How ID document verification can help prevent fraud in the digital channel
  • Security and authentication tips
  • Loan Market use case

The webinar will be held by OneSpan’s Global eSignature Product Manager, Michael Lakhal, and Joanne Church, Chief Operations Officer for Loan Market’s MyCRM technology.

Lakhal has more than 10 years’ experience in the digital signature market, focused on B2C for financial services. He has previously served as an e-commerce manager at French banks Cofidis and Banque Accord, and has experience of building the first mass market platform for B2C transactions and driving related product activity across the EMEA region.

Church is an expert at understanding complex problems and distilling them into understandable components so they can be solved. At Loan Market she leads the team that provides support to the users of the company’s MyCRM in Australia.

About OneSpan

OneSpan specialises in digital identity and anti-fraud solutions that create exceptional and secure experiences.

The company’s solutions have helped prevent billions of dollars worth of fraudulent activity and cover everything from risk-based adaptive authentication to digital identity verification.

Register to OneSpan’s Digitising the Commercial Lending Process here .

Find out more about OneSpan here.

Find out more about Loan Market here.
 

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Apr 29, 2021

Stripe backs Step - the digital bank for teens

Stripe
Step
onlinebanking
Fintech
Joanna England
3 min
Stripe backs Step - the digital bank for teens
Payments giant Stripe continues it's startup investment streak and has also announced plans to acquire tax software fintech, TaxJar...

The digital payment solutions giant, Stripe, has re-invested in the San Francisco-based teen banking fintech startup, Step. 

The Series C round raised US$100m in capital from a number of backers, including Coatue, TikTok star Charli D’Amelio, actor Jared Leto, and Will Smith’s Dreamers VC, for the enterprise. 

Step provides a free FDIC-insured bank account and Visa card to teenagers. The accounts are backed by Evolve Bank and there is no subscription charge for its usage. Users don’t pay for their accounts and there are also no overdraft fees. 

The mobile banking app enables parents to set controls and limits on spending and encourage responsible finances. According to data released by the company, 88% of the platform’s users say this is their first bank account. 

Big backers

To date, Step has seen great success in the marketplace. The company has raised more than $175m from investors and now has 1.5m users.

Stripe, which was founded by Irish brothers Patrick and John Collison, previously led Step’s $22.5m Series A round in 2019.

Step's Series B funding round also brought in $50m, and has a distinctly celeb-tinged reputation with investors including Justin Timberlake and the pop duo The Chainsmokers.

Users get access to a free, FDIC-backed bank account, a spending card and P2P payments platform to send and receive money instantly.

CJ MacDonald, chief executive of Step, said the company is aiming to improve the financial futures of the next generation. “Step is the only banking platform that enables teens to start building a positive credit history before they turn 18 and does not charge fees of any kind.

He has previously spoken about the importance of financial literacy for young people. “Money is just one of those things where I think the more educated and equipped you are early, the better decisions you can make down the road,” he told PYMNTS. “And you can also prevent yourself from making costly mistakes. I mean, the average American doesn't have $400 in emergency savings and pays $350 a year in banking fees. If we can help this next generation just ultimately be smarter and more educated as it pertains to money, I think we'll all be better off.”

Kyle Doherty, managing director at General Catalyst and Step board member, explained, “Gen Z is flocking to modern financial solutions that can be easily embedded within their digital lives and Step has a unique model for how to do this right.”

TaxJar acquisition

The news follows on from Stripe’s recent announcement that it plans to acquire TaxJar. The fintech, which builds software for online businesses that automates the reporting and filing of sales taxes, will most likely be integrated with Stripe’s billing services.

Currently, No terms have been disclosed but the Boston start-up had raised more than $60m from investors including Insight Partners.

Stripe chief financial officer Dhivya Suryadevara said of the move, “With TaxJar, we will help millions of internet businesses running on Stripe with their sales tax and make it easier for them to sell internationally.”

Stripe also recently closed a $600m funding round that valued the TaxJar at $95bn and has been investing heavily in fintech startups, including Ramp and Check

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