From Weeks to Minutes: How Fintech Is Changing the Speed of Lending

After $3.5 billion in business loans spread across 100,000 customers, online lender Kabbage is showing one successful path for the fintech industry.

In this Knowledge@Wharton interview, Spencer Robinson, head of strategy for the company, explains what Kabbage has discovered that allows it to approve loans in minutes, versus what he says can often be a multi-week slog with traditional banks.

Robinson spoke with Knowledge@Wharton during a recent conference at the Federal Reserve Bank of Philadelphia — "Fintech: The Impact on Consumers, Banking, and Regulatory Policy," where he also was a speaker.

http://knowledge.wharton.upenn.edu/article/how-one-fintech-firm-takes-six-minutes-to-lend-150000/

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