UK-based digital lender Starling Bank has abandoned its plans to obtain an Irish banking licence, Sky News has reported.
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
Goldman Sachs slowed originations for their personal loan product through Marcus after they launched the Apple Card; “The slowing pace...
A timeline of Celsius’ battle with insolvency during the crypto crash, from the firm’s decision to limit some user activity before the “pause,” to its decision to file for bankruptcy on the advice of restructuring experts.
While Secretary Janet Yellen prepared to meet with Wall Street banking CEOs, an official from the Treasury Department said the crypto market turmoil shows a need for regulations.
Bitcoin looks to be headed towards $10,000 and the overall market cap for digital coins has surpassed $300bn; Ethereum, bitcoin gold and bitcoin cash have all reached all time highs as the appetite for these currencies continues to rise unabated; while concerns of a bubble persist the prices continue showing more strength by the day. Source.
The report is titled "Beyond Fintech: A Pragmatic Assessment of Disruptive Potential in Financial Services"; in a brief summary of the report, the Word Economic Forum says: "Our findings suggest that fintechs have materially changed the basis of competition in financial services, but have not yet materially changed the competitive landscape. They play a critical role in defining the pace and direction of innovation across the sector but have struggled to overcome the scale advantages of large financial institutions."; the report is 196 pages and covers the major verticals in financial services. Source
Facebook along with their partners are contemplating a redesign of Libra; the changes could include the network accepting multiple coins,...
The Argentina-born banking sofware company reached a US$1,1B valuation when acquired by SoFi, one of the biggest fintechs in the U.S.
Companies must capitalize on increasing the quality of the experience for their legitimate customers reaching out to call centers.