- Fitch Upgrades Select Ratings, Outlook on Prosper Marketplace ABS
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- Elevate Credit Third Quarter 2017 Earnings Release Available on Its Investor Relations Website
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- Chinese lending platform PPDAI Group sets terms for $298 million IPO
Technology investments at big banks like Goldman Sachs will take time to pay off; CEO David Solomon speaking at the...
As CoinDesk reports Chinese publication Caixin said that the PBOC did not hold a meeting on shutting down mining activities; the meeting was supposed to be held on January 3rd and meant to focus on banning mining; the news means that the Chinese government is taking a more agnostic approach to bitcoin mining, not endorsing it but at the same time not banning it; more concrete news should surface in the coming months, for now firms like Bixin and ViaBTC will keep operating. Source.
Personal information for more than 7 million customers was accessed during a data breach on November 3rd, Robinhood said, but it doesn’t appear anyone lost any money. The company said it is investigating.
Carvana is working with Wells Fargo and Bank of America on plans for a US initial public offering (IPO); the company is one of a few specialist providers selling used cars and offering auto financing through the internet with automated towers storing vehicles in cities such as Austin, Dallas and Nashville; Reuters reports the company has a valuation of $2 billion and is planning for its IPO in the first half of 2017. Source
The nation’s sixth-largest bank will offer a $750 line of credit to customers who need short-term liquidity, and will gradually become less reliant on older accounts that charge the controversial fees. With the plans, Truist is moving in the same direction as many large and midsize banks.
Singapore based fintech company Trade Finance Market (TFM) recently launched their Invoice Check solution to cut down on trade finance fraud; the new blockchain based registry will help stop invoices from being paid more than once; they built the solution in the past year on the ethereum blockchain and it uses smart contracts; "Our system is in public beta and provides a manual method of entering invoices and having them checked against a blockchain-hosted database. This data is stored on the blockchain and funders are alerted if there is a potential risk of double financing," Raj Uttamchandani, the company's executive director, tells Global Trade Review. Source
According to Peer2Peer Finance News, "The inaugural Peer2Peer Finance News Power 50 list aims to identify the big names in the industry who have helped it grow into a force to contend with over the past decade and who will play a key role in its future."; rounding out the top 10 include executives from RateSetter, Zopa, Funding Circle as well as Christine Farnish from the P2PFA, Bruce Davis, co-founder of Abundance, Mark Carney, governor, Bank of England and Andrew Bailey, chief executive, Financial Conduct Authority. Source
While the payments sector has developed, cross border payments have been left behind. RTGS Global's solution disrupts the status quo.
A new global survey report titled, "Blockchain Technology: From Hype to Reality," shows 80% of banks surveyed expect to utilize some type of blockchain technology by 2020; 50% of banks say they have already invested or are planning to invest in blockchain technology in 2017; these financial institutions are reporting an average blockchain investment of $1 million in 2017; according to the report, the top five use cases for blockchain are cross border payments, digital identity management, clearing and settlement, letter of credit processing and syndication of loans. Source