Category: Financial Institution

GreenSky: A solution for instant loans

GreenSky is without a doubt one of the best fintechs we have in the world today. Earlier this years, the company was listed as a publicly traded company after fronting its Initial Public Offering (IPO). GreenSky is a financial service provider. They offer point-of-sale services to consumers. Their main role is offering technology that connects the consumer to the regional banks that can avail the funds for various services that the consumer might be interested in. The company works on a fee-based model which enables it to maintain consistent growth. It does not suffer from the challenges that face traditional banks. It is projected that the company might see double-digit growth for the next few decades consistently if the recent trend is anything to go by. In 2017, the firm managed to drive over $3.8 billion to their partnering banks, a record increase of 30 percent from 2016.

How GreenSky Works

The main role of this firm is to connect the borrower and the lender at the point-of-sale. In the process of linking the two parties, it gets paid through the fees charged in facilitating the transactions. In the setup are four parties that form the complete transaction path. There is the customer, the merchant, GreenSky and the bank. It is the merchants who provide services to customers who initiate the process of getting a loan. Mainly, the merchants involved in these transactions are in the healthcare and home improvement fields.

If the homeowner is interested in home maintenance services but lacks sufficient finances at the time to pay for the services, he or she can opt for the option provided by this fintech. It will allow them to get instant access to a loan that will be obtained by the customer. The merchant will initiate the process by taking the details of the customer and sending them digitally to GreenSky system. The fintech will receive the loan details and then talk to a partnering regional bank that is ready to provide the loan. In a short time, the loan will be processed and deposited to the customer who will, in turn, pay the merchant for the services provided.

https://www.forbes.com/sites/greatspeculations/2018/09/05/greensky-now-looks-undervalued-given-strong-q2-performance-alliance-with-amex/#5d78658d5eda

Incorporated in a glimpse

Nexbank Capital Incorporated is a financial service company. It offers tertiary services to the populace. The company runs on three major things. These are; execution, flexibility as well as expertise. This is to ensure that they give the people they serve the best of services that can be offered. This attracts very many clients due to confidence in the firm’s work.

Nexbank Capital Incorporated offers three major services;

  1. Commercial banking
  2. Mortgage banking
  3. Institutional services

They fund different kinds of people as long as your project is legitimate. They are however restricted to the three field in their line of work. This narrowing down is what enables them to pay keen attention to their clients. They are also able to get the best professionals so as to give their clients confidence to work with them.

The firm recently cleared the fifty four million dollar subordinate debt that they had. The firm intends to use the returns or the gate money made out of this for the general corporate purposes. This will help with the probable expansion of the firm. After the completion of the debt, the firm has been able to increase both the debt and the equity to two hundred and thirty eight million dollars in the year 2016. Nexbank Capital Incorporation has also been able to amass assets that amount to 8.4 billion dollars.

The incorporation prides itself in their ability to provide access that remains unmatched to sophisticated as well as tailor made solutions to meet the client’s tastes as well as preferences. This firm is headed by a panel of executives. They are four in number. They are; John Holt who is not only the president of the firm but also the Chief Executive Officer. The Chief Operating Officer is Matt Sielkielski. The Chief Financial Officer is Stacey Hodges while the Chief Credit Officer is Rhett Miller.

The firm also has online banking services. The benefits of this modern technique are;

  1. One is able to get a clear account balance a well as transaction history
  2. One can transfer money to other accounts
  3. One saves time by paying bills online.