Edward Jones has announced a multi-year partnership with St. Louis based venture fund SixThirty; SixThirty invests in eight to 10 fintech startups annually with each startup receiving an investment of up to $100,000 along with support from a business development program that includes mentoring and networking; Edward Jones will be involved in numerous aspects of the venture fund's investing and Frank LaQuinta, a general partner with Edward Jones, will join SixThirty's investment committee. Source
Borrowell Launches First Free AI-Powered Credit Coaching Tool in Canada Targeting stressed out Americans, PurePoint launches savings campaign with Olympic...
Banking is at an interesting inflection point. There is better technology available today than ever before that can really help banks run more efficiently as their customers are demanding faster and more user-friendly services. At the same time, looming over the horizon is blockchain technology, DeFi, stablecoins and more that could make some of today’s cutting-edge technology obsolete. My next guests on the Fintech One-on-One podcast are living at the center of this conundrum. Ryan Zacharia and Adam Aspes are […]
LendIt has posted presentations from LendIt USA 2017 keynote speakers and the event's various tracks on its blog; keynote speaker videos are now all available on the LendIt website and videos from different tracks continue to be added; also available on the website are LendIt USA 2017 photos. Source
HNA Capital is a private Chinese company gaining market attention in recent weeks for its acquisition of Anthony Scaramucci's Skybridge Capital and interest in acquiring more asset management businesses including Old Mutual's asset management division; the company has been acquiring assets now worth $145 billion with revenue of $45 billion annually; HNA Capital sees a market opportunity for asset management businesses with market volatility expected during the Trump administration and more investors shifting to actively managed strategies. Source
Bo Brustkern, CEO and Co-Founder of LendIt Fintech recently held banking and fintech leadership roundtables across Europe; in his tour...
The Reserve Bank of India will begin regulating p2p lending firms; the government of India released a notification on Wednesday; the platforms will be treated as non-banking financial companies (NBFCs); article shares the suggested regulatory framework from a paper released in 2016. Source
Recent comment letters in response to the OCC's fintech charter show increased criticism for the agency's proposal; consumer protection groups, community banks and state regulators have all voiced opposition while supporters have been disappointed by the process for the charter; supporters are concerned that financial inclusion plans and other provisions for the charter might be overly burdensome; consumer protection provisions are also a point of emphasis with groups suggesting specific consumer protection measures such as interest rate caps, default rate limitations and underwriting standards; lack of details on a number of business factors including capital requirements and balance sheet versus off balance sheet funding have also reduced confidence in the charter. Source
The first fintech to go public in the new year, the Dave challenger banking app went live on the Nasdaq Thursday, after a successful merger with a Victory Park SPAC.
Consumers increasingly expect banks to embrace environmental policies. That can create tensions, but also opportunities for loan growth.