This week Isabelle spoke to Pagaya's CIO, Ed Mallon about how lenders can still fulfill demand for credit despite challenges.
Wells Fargo shared that they set aside $4 billion in loan-loss provisions in Q1 2020, a number five times that...
Fintech giants Stripe and Plaid appear to be going head to head.
Online near prime lender LendingPoint to boost expansion into point-of-sale with acquisition of LoanHero. Source
In guidelines released on its website, China said it would restrict overseas investment in sectors such as property, hotels, cinema, entertainment and sports teams; the announcement comes as Beijing is supporting overseas technology and initiatives such as the massive global infrastructure investment plan One Belt, One Road; specific industries under close watch include Hollywood entertainment, the hotel industry and foreign insurance investments; overall, the efforts from the Chinese government are another step in reigning in foreign investment and supporting economic development. Source
According to cybersecurity company BioCatch, new market trends such as faster payments and open banking are introducing new security threats to corporate...
Ocrolus, a document automation platform, announced a new suite of document-centric applications within the ICE Mortgage Encompass platform.
Spanish banks have been focusing on going digital to help keep ahead of competition; banks like Santander and BBVA have improved their mobile app access and started innovation teams to invest or partner with fintech companies; they have also changed their culture to better resemble a startup and have started talent competitions; while the banks have had their share of issues the digital focus can help to drive down costs and keep the banks ahead of the curve. Source.
DoorDash is looking to aggressively expand their recruitment for new drivers and recently struck a partnership with fintech Acorns; DoorDash...
According to Reuters Goldman Sachs is acquiring the boutique wealth management firm, Folio Financial, for an undisclosed amount; Goldman Sachs...