The challenger bank is working to add bitcoin, litecoin and ethereum; Revolut customers will also be able to transfer cryptocurrencies to others; what makes what they’re working on unique is allowing an instant conversion to happen within the app; typically users must have an account on a crypto exchange where funds are transferred between accounts; the firm is currently testing features with 3,000 customers. Source
JoinedMay. 30, 2017
Articles5,320
Comments63
This piece was created by one of our content team members. Reach us at [email protected]
Chatbots are a great tool for banks to appeal to tech-savvy customers at a lower cost compared to a standalone app; according to Business Insider, DBS uses Kaisto’s Kai which allows customers to use Facebook Messenger to process transactions; Swedbank is currently using Nuance’s NINA to better serve customer inquiries; article shares other companies using chatbots and why this is a segment positioned for continued growth. Source
Tony Zerucha from BanklessTimes shares insights from the first day of LendIt Europe 2017. Source
- Trustly partners with Emric, part of Tieto
- Disruptive lending technology to assess applicants on verified income - The ID Co.
- Mintos marketplace exceeds 35,000 investors
- Creditshelf Announces Results of New SME-Study at LendIt Europe 2017 Conference
- Global Online Lender Issues €120M In Credit Lines to SMEs - Spotcap
- LendIt Launches the BlockFin Summit
- Digital Dunning and Debt Collection: collectAI manages 25m Euro in Receivables
- Afluenta Celebrates Its Fifth Anniversary by Adding Commercial Loans to a New and Smarter Platform
- Crowdvouching service Suretly, raised $2.8 mln in August, is launching beta version in 6 weeks
- Oakam Accelerates Financial Inclusion in the UK with Alternative Data
- Linked? ?Finance? ?Launches? ?Pension? ?Investment? ?Product
- ArchOver Headed for a Record Year of Lending
The American Bankers Association released their quarterly delinquency bulletin which shows steady delinquency rates at 1.56%; the 15-year average is 2.16%; Household debt hit a record $12.84 trillion in the second quarter with increases in automobile, mortgage and credit card debt. Source
According to the WSJ, OneMain is looking to sell and is in advanced discussions with multiple parties; the deal could be worth $4 billion or more; Most of OneMain’s personal and car loans are to people with credit scores under 660; the company has 1,700 branches and 2.2 million customers. Source
The Ontario Securities Commission (OSC) has published their annual report sharing that they are monitoring P2P lending, digital crowdfunding and online advisors; to date the OSC has supported 38 fintech companies with the OSC LaunchPad; the LaunchPad was created for businesses that don’t fit neatly under existing regulation. Source
deBanked reports that Google searches including “cash advance” do not include advertisements when searching; this is likely due to Google clamping down on payday loan advertisements and the term cash advance being related to payday loans; Merchant cash advances however are for businesses, making this a possible unintended consequence on the clamp down of payday loan ads. Source
In a recently recorded speech, Rhydian Lewis said that the company expects to be profitable in 2018; the p2p lender was previously profitable in financial years 2014 and 2015; the company is also celebrating its seventh birthday and has facilitated £2.1bn in loans, connecting 57,000 lenders with 388,000 borrowers. Source