Avant broadens its digital banking capabilities with challenger acquisition

Andreas Milano

The US-based online lender is acquiring Zero Financial and its challenger brand, Level, in a mixed cash-stock transaction, per TechCrunch. No other financial terms have been disclosed. The deal will enable Avant to offer a comprehensive suite of banking products, including deposits, personal loans, credit cards, and auto loans.

Avant is following the lead of other alternative lenders that have tied up with banks to increase profitability or expand into new credit products. Here are two examples:

  • LendingClub’s recent acquisition significantly reduced its cost of funds. By buying Radius Bank, the alt lender reduced its borrowing costs by 90% from
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Student Loan Forgiveness Could Be On The Horizon

Andreas Milano

By WVUA 23 Digital Reporter Shanaya Daughtrey

TUSCALOOSA, AL– When President Joe Biden signed the COVID-19 relief package earlier this month, the tax break on college debt cancellations potentially removed a blockage to forgiving student loan debt.

The COVID-19 tax break provision will not count any debt forgiven from Dec. 31, 2020, to Jan. 1, 2026, as income.

According to an article published by ABC News, under one of the existing forgiveness programs, the amount forgiven is reported to the IRS as income and taxed according to the borrower’s current tax bracket.

For instance, in an example presented by  

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Weichert Financial Services Chooses Snapdocs to Scale Digital Closing Experience for Settlement Partners, Borrowers | News

Andreas Milano

SAN FRANCISCO, April 7, 2021 /PRNewswire-PRWeb/ — Snapdocs, provider of the mortgage industry’s leading digital closing solution, today announced that Weichert Financial Services has selected Snapdocs to create a single, scalable process with its settlement partners. Weichert Financial chose Snapdocs’ digital closing platform to streamline and standardize its process in order to close more loans, at lower costs, while delivering the simple, intuitive digital experience borrowers have come to expect.

Home buyers are increasingly looking for a simplified mortgage process that reduces the paperwork and speeds up the closing time. The typical real estate closing can have as many

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SoFi Launches Auto Loan Refinancing Through Lantern

Andreas Milano

SAN FRANCISCO–(BUSINESS WIRE)–SoFi announced today that transparent, competitive, and personalized auto loan refinancing offers are now available through Lantern, the financial services product comparison site owned and operated by SoFi, the digital personal finance company. SoFi launches auto loan refinancing in partnership with MotoRefi – an auto fintech startup on a mission to help people save money on their auto loans – to combine selection, speed, and convenience through its network of trusted lenders. This agile approach ensures borrowers have the opportunity to choose from a selection of competitive offers that fit their financial situation and goals,

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Avant Gains Digital Boost With Neobank Acquisition

Andreas Milano
  • Avant’s acquisition follows a familiar playbook of alt lenders pushing further into banking.
  • And Avant’s data capabilities and mass market appeal could prove lucrative.
  • Insider Intelligence publishes hundreds of research reports, charts, and forecasts on the Banking industry. Learn more about becoming a client.

Avant is acquiring Zero Financial and its challenger brand, Level, in a mixed cash-stock transaction, per TechCrunch. No other financial terms have been disclosed. The deal will enable Avant to offer a comprehensive suite of banking products, including deposits, personal loans, credit cards, and auto loans.

How us adults feel about lenders taking their credit history consideration loan pricing

Avant broadens digital banking with challenger acquisition.

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Worldwide Digital Lending Industry to 2026

Andreas Milano

Dublin, April 07, 2021 (GLOBE NEWSWIRE) — The “Digital Lending Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.

The Digital Lending Market was valued at USD 311.06 billion in 2020 and is expected to reach USD 587.27 billion by 2026 and register a CAGR of approximately 11.9% during the forecast period (2021 – 2026). The Lending landscape has changed drastically over the years due to the rapid adoption of digitization in the BFSI industry. The traditional form of lending still prevails in many parts of the world. However, the benefits

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