More than 200 U.S. banks are finding not every financial-technology startup is out to steal their business.
Fundation, an online lender founded 2011, announced a partnership Tuesday with BancAlliance, a network of community banks spanning 40 states. The deal has two parts: Banks get access to a Fundation platform that simplifies underwriting for small-business loans. Fundation, in turn, can offer credit to customers that don’t fit the banks’ borrowing criteria.
