Vibrant sees mobile POS systems as an essential tool for micro SME recovery. They plan to support the 10 million European merchants.
The VPC Speciality Lending investment trust sold it’s exposure to Avant loans and their equity stake as it continues a move out of the sector; the fund has been shifting to a balance sheet strategy for quite some time and this is another indicator of that move; they also sold their equity exposure in Australian point of sale lender zipMoney. Source.
The Victory Park Capital Specialty Lending Fund reported a net total return of -1.47% for the fourth quarter of 2016 with its marketplace loan investments dragging on total return; while reporting a loss for the fourth quarter, the fund says "…there has been further progress in the reallocation of capital to balance sheet investments"; the fund increased its balance sheet investments to 51% of the fund's net asset value in the fourth quarter, up from 22% at the beginning of the year; firm continues to reallocate its fund and is also buying back shares. Source
Funding Circle's, Samir Desai discussed his platform's business model at this week's Web Summit; Desai provided details on how his platform categorizes small business loans and makes credit approval assessments, noting that approximately 80% of businesses funded would likely be approved by traditional banks; also highlights the benefits of diversification for investors who can invest in multiple loans through a single platform; says 90% of investors are earning over 5% a year. Source
Virgin Money is proud to announce a new fintech partnership with Expend, adding an Expense Management service
The company announced the news in an earnings call; they will begin testing products this year and have invested $53.3 million developing the new bank; Virgin Money is said to have signed an agreement with 10x Future Technologies to develop the platform. Source
Virgin Money, the UK’s sixth largest bank, is the latest firm to become fully registered to the Contingent Reimbursement Model...
Visa supports Belvo's move to promote open finance in Latin America as the companies announce a strategic partnership
Visa (NYSE: V) today announced it has completed its acquisition of Tink – an open banking platform that enables financial institutions,...
Visa has expanded their contactless payments system for public transport to more than 500 cities around the globe; contactless payments...