U.S. bank trade group picks online lending partner

By Anna Irrera NEW YORK (Reuters) – The American Bankers Association, a trade group for U.S. banks, has endorsed Chicago-based startup Akouba as a technology provider to enable its members offer small business lending online. Reuters had reported in January that the ABA was running a formal bidding process to secure an online lending partner, as a growing number of banks launch digital lending services or partner with startups in the sector. Akouba, which provides a loan origination and underwriting platform that integrates with a bank’s own credit policies, was chosen because of a number of factors, including its ability to assess and manage risk, the ABA said on Monday.

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