- Meet Tim Russi, President of Auto Finance at Ally Financial
- London fintech business WorldRemit valued at close to £500 million as it raises $40 million
- Funding Circle passes $5 billion lent globally, including $1 billion lent to US businesses
- KBRA Assigns Preliminary Ratings to Consumer Loan Underlying Bond (CLUB) Credit Trust 2017-NP2
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The San Francisco based online marketplace for consumer loans has gone public down under in the biggest tech IPO of the year on the Australian Exchange. Source
The P2PFA has announced changes to the standards for its members which will be put in place next April; the new rules, according to Christine Farnish, Independent Chair of the P2PFA are “…built around the principles of transparency, integrity, honesty and competence.” Source
According to Christopher Ward, head of product management for PNC’s treasury management division, “We’re ready, we’re in process of implementing APIs with customers. I would proffer most customers are not ready for it.”; Bank of America also stated they are ready for open banking; however many banks aren’t as prepared and being ‘ready’ for open banking is up to interpretation; the article from Tearsheet shares other perspectives on open banking and how some banks might be missing the point of open banking. Source
If you're a developer that needs to keep up to date in order to support the new wave of blockchain technology/ICO's and wants to immerse yourself in learning how to build/code your own token or smart contract, come join us on December 9th at FinTech School's Ethereum - Solidity Programming Workshop. Classroom setting, but this time all virtual (provided by Shindig.com) and you can be located anywhere globally. You'll be learning live from Neeraj Srivastava and the DLT Labs team (Ethereum Alliance Member). Use Code “FTSLENDIT” For 50% Off Source
- BitPay Raises $30M in Series B Funding
- Maxwell Financial Labs Raises $3M in Funding
- Klarna to Power Invoice and Credit-Based Payments for Worldpay Clients
- Global Debt Registry Joins Wall Street Blockchain Alliance
- Mobile Banking App Revolut Adds Litecoin, Ether Trading
- New CFO For Quint Group
- ID Finance strengthens board with ex-CEO of 4finance
- Marking 15 years of Small Business Lending, BFS Capital has Extended Over $1.7 Billion in Financing to Businesses across the US, UK and Canada
- Instamotor Customers Can Now Apply for Financing While Shopping For A Used Car
- ASX selects distributed ledger technology to replace CHESS
- Dianrong Names Executive Chairman, Co-Chairman and CEO
- Securitizations Securing the Future (LendingClub)
- A Lesson on Lending: Alternative Lenders and Community Banks
- Change of pace ahead for fintech in China
Lufax has reportedly hired five banks to work on a Hong Kong IPO which could raise as much as $5 billion; SoftBank’s vision fund is also in talks to invest in the company according to sources; Lufax is the 10th largest unicorn and has delayed IPO plans over the past few years. Source
Over $3 billion has been raised this year by initial coin offerings; Tech Crunch shares the current warnings that the market has received from regulators; some market participants report that they have spoken with with the SEC and it is expected that we will hear much more from regulators as we enter 2018. Source
Lend Academy shares several companies who have announced major origination milestones across small business lending and real estate; included in the list is Kabbage, LendingHome, Funding Circle and LendingClub. Source
Recently Morgan Stanley published research sharing that digital payments penetration in India could increase from 5% today to 20% in 2027; the e-commerce market could reach $200 billion with 475 million shoppers by this time; the author delves deep into the Chinese and Indian payments markets, sharing why America could miss out on India’s fintech revolution. Source