Fintech lending refers to the use of technology and innovative financial services to facilitate and streamline the process of lending. This encompasses a wide range of online platforms and applications that connect borrowers with lenders, often bypassing traditional banking institutions. Fintech lending typically utilizes data analytics, algorithms, and machine learning to assess credit risk, streamline loan approvals, and offer personalized financing solutions. The key characteristics of fintech lending include faster loan application processes, increased access to credit for underserved populations, and often lower costs due to reduced overhead associated with technology-driven operations. Examples of fintech lending include peer-to-peer lending platforms, online personal loans, and business financing solutions that leverage technology to improve efficiency and customer experience in the lending process.
ClarityPay's new capital purchase program, worth up to $1 billion, represents a significant shift in consumer finance for merchants. The partnership with Neuberger Berman highlights the synergy between alternative investment…