Sentences with phrase «costs than traditional banks»

Without a costly branch network to support, we have lower operating costs than traditional banks — and we pass those savings on to our customers!

This is because they have fewer overhead costs than traditional banks.

Online - only banks have much lower operating costs than traditional banks, which maintain large networks of physical locations staffed by thousands of employees.

Because the entire process is online, peer - to - peer lending companies essentially run credit marketplaces which operate with lower costs than traditional banks or credit companies.

The Brooklyn, N.Y., firm is establishing a web - based financial system that will offer free ATMs, automated money management, smartphone bank deposits and free online bill payment with what the firm claims are no hidden fees and far lower costs than traditional banks.

Lending Club uses technology to operate a credit marketplace at a lower cost than traditional bank loan programs, passing the savings on to borrowers in the form of lower rates and to investors in the form of solid returns.

Similar to cloud computing, which has enabled millions of startups around the world to leverage billion - dollar infrastructure for a fraction of the cost, the infrastructure BitFury is deploying allows entrepreneurs to tap into world - class banking infrastructure for a fraction of the cost — unlocking the creativity of entrepreneurs to build financial service applications that can serve the specific needs of the unbanked at a much lower cost than traditional banks.

Not exact matches

«(With an alternative lender), the interest rates are higher, the qualifying rate is higher than if you were going with a traditional bank and they are going to charge one per cent of the mortgage amount (as a lender's fee) for closing, so that means your closing costs increase.»

Traditional bank loans take more time to close than higher cost alternative lending products.

The attractions of cyberspace for bankers are obvious: more than two - thirds of the banks with Web sites spent less than $ 25,000 to set them up — compared with the typical $ 1.5 million to $ 2 million it costs to set up a traditional branch office.

In addition, the company has built its technology for transaction processing in such a way that it costs 75 % less than traditional banks» core deposit platform, Mr. Britt said.

Personal loans from online banks, such as Capital One personal loans, typically have lower refinancing rates than traditional banks offer because of the lack of overhead costs.

Higher interest rates than your traditional brick - and - mortars with no maintenance fees, thanks to the lack of expensive branch networks draining the banks» resources (and I say that as a branch banker, and thus one of the costs in question), make it a great place to park money that you aren't going to be using.

The best savings accounts are mostly found online where costs are much cheaper than traditional brick - and - mortar banks.

Credit unions tend to offer lower auto loan rates than traditional banks, largely because they are non-profit and pass their cost savings on to their members.

Borrowing money through a short - term loan product might cost you more than a traditional bank loan, but when you factor in the speed, flexibility, and smaller funding sizes offered by alternative lenders, working capital loans are often more attractive.

Using the same assumptions to obtain rate quotes at New Jersey's most active mortgage lenders revealed that a purchase mortgage will cost more at a traditional bank than a direct lender by 12 or more percentage points.

As with many other banking products, online - only banks are able to offer CDs with much better rates than traditional institutions, thanks to their low operating costs.

Lending Club is America's largest marketplace connecting borrowers and investors, where consumers and small business owners lower the cost of their credit and enjoy a better experience than traditional bank lending, and investors earn attractive risk - adjusted returns.

The idea behind this concept of financial leverage and potential arbitrage is that you can take loans from your life insurance policy much more easily and cost effectively than you could from a traditional bank.

Online banks do not have to account for significant infrastructure and overhead costs, which allows them to offer higher returns than traditional bank branches.

BitPay and Bithumb have since launched a blockchain - based, cross-border payment solution to help South Korean businesses pay and receive international payments in a faster and more cost - effective manner than traditional bank wires.

All of this could theoretically be done instantly, or at the very least considerably faster than traditional banks (and hopefully for a lower cost).

Traditional banks have slightly lower shadow cost of funding and provide higher quality products than shadow banks.