Fintech innovation operates in an ever-evolving financial regulatory landscape. Regulators are stepping up scrutiny of non-banks, particularly marketplace lenders, even as the new Consumer Financial Protection Bureau (CFPB) establishes its mandate and rules. This shifting landscape carries regulatory implications for traditional banks weighing fintech partnerships. In this blog series, Mirador will recap the latest regulatory […]
Recently it seems like startups are disrupting every aspect of our lives — where we stay when we’re on vacation, what we we cook for dinner and how we get around. Even the financial industry — a sector traditionally resistant to change — is being revolutionized by fintech startups. But disrupting some of banking’s more […]
There are certainly times when it’s important to build redundancy into your systems. Case in point: when your computer goes on the fritz and your files are saved on a backup hard drive; or if a superstorm knocks out power, and a generator keeps your home up and running. In other instances, like in banking, […]
Setting up an online small business lending platform may sound daunting, particularly if you’re a smaller bank without an IT department. But in fact, it’s a lot simpler than it sounds. With the right fintech partner, lenders of any size can launch an online loan application–customized to their specific needs and designed to match their […]
In the previous post, Preparing for the Coming Wave of Millennial Entrepreneurs, we reported many of this country’s future small business owners are members of the 35-and-under crowd. As these millennials become more financially stable and work to make their entrepreneurial dreams a reality, they’re going to need access to capital. But that doesn’t necessarily […]
Making profitable SMB loans under $100,000 is nearly impossible when Oliver Wyman research indicates underwriting these loans costs a marginal $1600 – $3200, while they only generate $700 to $3500 in revenue on average. It doesn’t take a mathematician to figure out it hardly seems worth it to pursue small-dollar loans. However, larger banks have […]
Summer is fast approaching, but fintech certainly isn’t taking a vacation. Innovation in the financial services sector just keeps heating up. For the unprepared, innovation can lead to disruption, as old business models are upended and new competitors shake up the landscape. But for those who stay up to date, innovative new technological solutions can […]
Mirador is a leader in bringing innovative lending solutions to banks and regulated institutions. We are dedicated to helping these financial institutions serve their communities and enable them to prudently increase their small business lending with our services and technology, while satisfying their regulatory requirements. Recently the Office of Comptroller of the Currency (OCC) of […]
Machine learning. The futuristic term sounds like something from the Matrix or Terminator movies. As it turns out, the future is now. Machine learning is already at work, improving our lives in numerous ways. What is it? Machine learning is a field of computer science where computers analyze data and learn from it in […]
Alternative lenders like OnDeck, Prosper, and LendingClub have run into some real trouble lately. LendingClub’s situation is the most widely publicized–and the most serious, given that its CEO resigned amid questions about altering millions of dollars’ worth of loan applications. But the troubles in the sector go deeper than issues at one well-known company. Layoffs at Prosper, […]
