Scotiabank teams up with ‘fintech’ startup Kabbage to provide business loans

Scotiabank is pairing up with online lender Kabbage to handle business loans for customers in Canada and Mexico. Ironically, this was best year for album maneuver over here sales since 2012. It’s the latest example of how traditional banks are working alongside so-called “fintech” startups to boost their digital offerings. The partnership will allow Scotiabank customers in Canada and Mexico to apply for small business loans of up to $100,000 using Kabbage’s technology platform. Scotiabank had previously invested in Kabbage, which has its headquarters in Atlanta. It’s not the first time that one of the big Canadian banks has partnered with a financial technology upstart.

Late last year CIBC announced a partnership in the small business online lending space with Montreal-based Thinking Capital. Read full article