Adyen is a payments company based in Amsterdam and currently is valued around $2.3 billion; the company has over 4,000 clients which includes names like Netflix, Facebook, Uber and Spotify; Forbes profiles the company and their co-founder and president, Pieter van der Does. Source
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Skinner shares some of the headlines by mainstream media as Open Banking officially launched in the UK; many were negative and included how consumers should fear the changes; not surprisingly the fintech community are strong advocates of Open Banking; Skinner shares his perspective on these two sides battling, the mainstream banks and mainstream media, and the fintech community and more niche media. Source
Longfin is a micro-cap company that is listed on the Nasdaq; the company offers foreign exchange as well as financing to small businesses; recently they acquired micro lender Ziddu.com which provides smart contracts on the Ethereum blockchain; now the company is looking to make contracts available for p2p lending, warehouse finance, structured products and FX or OTC derivatives. Source
- Todd Ruppert Joins Money360 Board of Advisors
- loanDepot Pioneers Next Era of Fintech by Expanding mello Brand into New Real Estate & Home Improvement Business Lines
- Funding Societies Surpasses SGD 100 Million in SME Crowdfunding
- Debt tracker Emma integrates with Monzo
- California Insurtech Hippo Secures $25 Million Through Series B Financing Round Led By Comcast Ventures & Fifth Wall
- AutoGravity Milestone: Exceeds $2 Billion in Finance Amount Request in 2017
- Transferwise Is Quickly Becoming a Global Bank (Minus the Stupid Fees)
- Fintech set to kick off this year’s London floats
- Building the World’s Most Inclusive Banking Service (Monese)
Anthony Noto, COO of Twitter, has been offered the position as SoFi CEO. Source
The big four US retail banks saw nearly a 20% jump in losses from credit cards in 2017; there are concerns of consumers being able to keep up with their debt; Citigroup, JPMorgan Chase, Bank of America and Wells Fargo saw a $12.5 billion hit from credit card loans last year, up around $2 billion from a year ago; delinquencies still remain less than half of what they were in the financial crisis; the FT shares other data on credit card issuance, repayments and the profitability of credit cards for banks. Source
PayPal’s CEO Dan Schulman has written an article in the Wall Street Journal; he believes that while technology generally has improved the lives of many, the potential of applying technology to expanding financial services is still unrealized; most people manage their money the same way they did years ago and fees paid by Americans still total $170 billion every year; Schulman believes that collaboration is key to achieving universal financial health. Source
The CEO and Co-Founder of TrueAccord discusses why a new data driven approach to debt collection is far more effective than traditional methods. Source
- SEC says bitcoin funds raise 'investor protection issues'
- Zopa hikes investor rates for first time since 2015
- defi SOLUTIONS Lands $55 Million
- Roofstock Raises $7M; Brings Series C Round to $42M
- Monzo to phase out popular prepaid cards by April
- YieldStreet's 2017 Year in Review
- FormFree Celebrates Its Tenth Year of Operations with Broader Investor Acceptance, New Products and Features for Lenders
- MQMR Announces Internal Audit Services Compliant with Fannie Mae Seller/Servicer December 19 Update
Update (1/23/2018): SoFi issued a press release officially announcing Anthony Noto as their new Chief Executive Officer effective March 1, 2018. Back...