- Progressive Leasing and Marqeta Partner to Power New Lease-to-Own Financing Experience
- Lendio Opens New Franchise in Nashville
- Lendoit & RSK creates a decentralized BTC lending future together
- CreditEase Received Top Rankings in Global FinTech Investment by CB Insights and FT Partners
- FinTech Leader OppLoans Named 6th Best Place to Work Nationally
- N26 launches a premium debit card for ‘the digital customer,’ partners with WeWork
- AutoGravity Names Sheng Wang As Chief Technology Officer
- Roostify to Integrate With Black Knight’s LoanSphere Empower Loan Origination System
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We are winding down the year and approaching the time when the news cycle starts slowing down and everyone begins...
According to Bloomberg, the company is in advanced talks for the latest round; the valuation would be about double of Affirm’s last round in April 2016; Affirm works with over 1,000 retailers and also recently rolled out a mobile app which includes a virtual credit card; the point of sale loans have annual percentage rates between 10-30%. Source
Sheltered Harbor began earlier this year and covers around 400 million accounts across banks and credit unions; members of the project are required to back up data so other banks can serve customers in the event that another bank becomes disabled; the project goes beyond concerns over customer data being stolen to address concerns that a cyberattack could destroy or lock data. Source
Last week LendingClub closed a whole loan transaction structured as a tradable, pass-through security called a CLUB Certificate; Lend Academy reached out to LendingClub to find out more and shares what benefits this structure has for some investors. Source
Prosper CEO David Kimball spoke at a conference last week stating, “Our main concern… it’s always liquidity, and I think most people in this room understand that the best way to get to liquidity is to have a lot of different options. And so I think you’ll see our toolkit expand [in 2018] versus where it is now.” Kimball also spoke about the challenges the company has had to overcome and the recent successes for the company including Prosper’s three securitizations and becoming cash flow positive. Source
- U.S. News magazine cites LendingPoint in ‘Best Personal Loans’ list
- Zopa zooms ahead to become the first consumer peer-to-peer group to lend out £100m in a month
- How an MBA entrepreneur made his multiple-account bank card add up
- Madden ruling was a step backward. Congress should fix it
- ConsenSys Ventures has made its first four investments
- PeerStreet’s Brew Johnson Named 2017 HousingWire Vanguard Award Winner
- Trulioo Recognized As a Global Leader in Digital Identity Verification
Dianrong is a Chinese online lender run by one of the co-founders of Lending Club, Soul Htite; the company is planning an IPO in Hong Kong and could raise $500 million next year. Source
Cross River Bank is looking at new opportunities in business payments; Ben Isaacson of Cross River Bank stated, “Payroll is predominantly set up for traditional salary, ‘regular’ employees. There’s a real opportunity to innovate on that front; businesses can change how their employees get paid to be more consistent with how they’re working.”; they are also looking at how they can better improve payments to suppliers for their customers; Cross River Bank currently works with some of the biggest names in fintech and prides itself as being a technology-first bank. Source
Many people around the world still lack access to formal financial services and a financial identity; using a smartphone as a means to provide a financial identity is the best place to start when it comes to financial inclusion; article discusses why financial identity matters and the idea of communication as a commodity using data from data scientists at Juvo. Source