Data breaches drive jump in UK financial fraud JP Morgan Head of eCommerce Sees Little Threat from “Payments Disruptors” If...
The Eight Virtual Banks of Hong Kong The State of Securitizations in Alternative Lending Lydia expands credit offering in partnership...
The People's Bank of China (PBOC) had meetings with various bitcoin exchanges this week including BTCC, OKCoin and Huobi; along with the meetings two press releases were issued; according to a translation from Coindesk, the document reads, "Bitcoin is not a currency and shouldn't be viewed as such. Those who invest in bitcoin should accordingly be aware of the risks it poses and protect their investment"; officials also reminded exchanges about complying with local state laws and other regulations. Source
New regulations slowed the growth of P2P lending in China in 2016; data from P2P001 reports that transaction volume in P2P lending increased by 138% in 2016 to over 2.8 trillion yuan ($403 billion) however that was only half of the transaction volume growth reported in 2014 and 2015; on August 24, 2016 the government issued new requirements for the industry, one of which requires that lenders partner with banks for custodian services; this adds additional costs for lenders and as of the end of 2016 only 7.98% had partnered with a custodian bank. Source
New Zealand-based Xero provides cloud-based accounting software for small and medium size businesses; it has now announced new agreements to integrate its software with working capital financing platforms MarketInvoice, iwoca and DueCourse; the business integrations will help to better facilitate invoice finance lending and working capital credit for businesses using Xero. Source
TruePillars, an Australian SME lender that focuses on individual investors, raised $3.9 million in a series A round; the round was led by a Melbourne-based private investor; "This investment will give us the means to further innovate and build on our service, including our ground-breaking secondary marketplace which allows investors to liquidate their investments ahead of schedule by selling to another investor in real time," says John Baini, TruePillars co-founder and CEO; the company allows for individual investors to fund loans with a $50 minimum commitment per loan. Source
Fintech is expected to generate $65 billion in sales by 2020 and Alibaba and Tencent are projected to capture half of the market; this would significantly increase valuations for both large e-commerce firms; online payments growth is also projected to be significant, supporting further value increases for both firms. Source
Cloud-based FI Software Provider nCino Goes Public More than 100 potential suitors signal appetite for parts of Wirecard Apiture Raises...
Pi Capital International LLC has advised Money360 on a $250 million structured debt facility; the funding comes from a financial institution in South Korea; Pi Capital was able to facilitate the transaction through its global alternative capital network. Source
U.S. Bank launches app to take pain out of filing expenses Bankers Expect AI To Make Your Financial Life More...