UK listed marketplace lending fund, P2P Global Investments, has reported struggling performance in 2016; monthly return in September was 0.23% for a year-to-date return of 3.41%; target annual return is 6% to 8%; peripheral factors such as debt facilities and currency hedges have affected the return; the fund is now selling at a discount of 19.8%; has been steadily buying back shares to help improve the NAV and also using securitization to reduce debt costs; loan defaults and delinquencies have been higher as a result of longer maturities, however the primary factor affecting the return is the broad global diversification of the loans resulting in losses from currency hedging. Source
Encompass Corporation is a Know Your Customer (KYC) solutions firm; for 2019 they found that there were 58 AML-related breaches...
Blockchain.com, a popular crypto exchange may end up losing $270 million over its loans to Three Arrows Capital (3AC) that filed for chapter 15.
Flender, a marketplace lending platform in the UK, is seeking to raise 500,009 british pounds from an equity crowdfunding campaign on Seedrs; the company offers P2P loans through a mobile application; the firm's business model seeks to connect borrowers with lenders in their social network helping to facilitate social network lending. Source
While speaking on a panel at Money 20/20 former and current regulators talked about the different approaches to fintech regulations; the Financial Conduct Authority recently released a report showing the UK approach has helped get new ideas into the market and seen companies get access to much needed capital; the US on the other had has seen federal and state regulators argue over proposed charters; there could be a lot the US can learn from the current UK program. Source.
The investment platform’s founders say it is designed for ‘unemployables’ like themselves who have already seen success as founders.
PitchBook, the venture capital, private equity and M&A database, released its Global Private Fund Strategies, summarising private capital fundraising activity. ...
Beleaguered German fintech Wirecard continues to struggle with allegations of accounting impropriety; auditors have been unable to find 1.9 billion...
Pindrop’s Vijay Balasubramaniyan on how top bank call centers are navigating the COVID crisis The Timing Of Apple’s QR Code...
With more services becoming digital, a digital currency seems to be the perfect solution to streamline the digital revolution further.