Anil Stocker and Aman Mehra from MarketInvoice talk with AltFi about how marketplace lenders are revolutionizing the credit underwriting process; specifically noting the speed of approvals from sophisticated credit underwriting models; also the seamless aggregation and decision process which Stocker says is faster and more efficient than banks; the success of the firm's underwriting has helped it to maintain a steady client base and also gain endorsement from the UK's British Business Bank. Source
RateSetter has announced new terms for its lenders which will go into effect on March 1; the new terms provide increased transparency for lending activities; they also give greater flexibility to the Provision Fund through a new stabilization period; changes made to the lender terms since October 2015 can be found here. Source
Fintech funding rounds of this size are few and far between- Zopa plans to use the investment to further its plan to "be Britain's best bank."
The company is estimating a full year loss and its CEO has resigned; it is also being investigated by the FCA and cutting its dividend; the surprise estimates and regulatory investigation are key factors influencing the stock market losses; the company serves 2.4 million customers through a door to door lending process with a focus on the underbanked. Source
Writing in AltFi Steven Bisoffi, Payments Advisory Lead at Huntswood, asks if 2019 will be the year that open banking will...
Julius Baer has agreed to sell Wergen & Partner Wealth Management to its management, the Swiss private bank said on Monday.
The three-way partnership with Cortland, Fairown, and Inbank in Poland comes at a time of increased industry attention.
Wirecard’s long time chief operating officer is said to be on the run according to former colleagues who said he...
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.
ClearBank, a cloud-based clearing bank, said on Tuesday that it’s providing agency banking services to Ziglu.