But while that rise in lending is solving one problem of liquidity, Frohwein says he has noticed a troubling trend that's hurting the bottom line of the businesses he set out to help.The same tools and insights that powered Kabbage's data-driven lending model revealed that his customers were borrowing more heavily than was necessary to fund their operations.
Borrowers give Kabbage a direct view into their bank and credit card accounts in order to be approved, and that window enables nearly real-time monitoring of their transactions."We've had all this great data on our small businesses and the cash flowing in and the expenses flowing out, and we've always utilized it for internal purposes," he continued.
Frohwein describes his vision with phrases like "autonomous treasury management" and "cash flow as a service," neither of which exist yet in the industry, but he says they will eventually be commonplace terms.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cloud startup Beacon used this pitch deck to raise $20 million - Business InsiderThe founders of cloud startup Beacon give banks, trading firms and asset managers easier access to cutting edge software. Here's the pitch deck they used to raise $20 million
Source: BusinessInsider - 🏆 729. / 51 Read more »
Yum China CEO reveals why the company is tackling delivery in a completely different way from its rivalsYum China CEO Joey Wat told Business Insider why the brand refuses to outsource its delivery business to third parties.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Sh-t That I Knit: Millennial turns her knitting blog into a business - Business InsiderBy using Instagram as a marketing tool, CEO Christina Fagan-Pardy was able to build a sizable millennial following and consumer base.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Saudia airline review: What flying business and economy are like - Business InsiderSaudia is the flag-carrying airline of Saudi Arabia. I got to experience famous Arabian hospitality 36,000 feet above the ground. They Khashoggi people esp. journalists you know. Dropshipping video ad. I you need to promote your product then product video ad is the best way. For an awesome video ad contract with me.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Yo Gotti talks prison-reform efforts with Jay-Z and his new album - Business InsiderRoc Nation rapper Yo Gotti spoke to Business Insider about his upcoming album, 'Untrapped,' and his recent entrepreneurial and philanthropic efforts. JAY_Z_Daily try the bridges, im sure theyll add up
Source: BusinessInsider - 🏆 729. / 51 Read more »