From the LendIt Fintech Jobs Board: Leading tech-enabled asset manager, Pagaya Investments, is seeking a Business Development Analyst to support...
As Visa and Mastercard weigh raising rates and retail heavyweights like Amazon push back, the fintech sees an opening for a lower-cost payments alternative that banks and credit unions can offer merchants.
The list covers all industries, but includes the fastest growing financial services businesses in Europe; TransferWise came in at #24, reporting 3,392% revenue growth from 2013-2016; the company hired 670 people over the same time period. Source
Due to the regulatory environment in the US digital banking startups have opted to partner with banks to offer banking...
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Victory Park is one of the biggest backers of subprime lenders in the US; they have provided capital to companies like Avant, Elevate and LendUp totaling $6.5 billion from 90 deals; the firm is now looking at zip Money in Australia, Kreditech in Germany and Oakam in the UK. Source
The last years have been great for fintechs. But this scenario of rising interest rates and economic uncertainty is hitting companies hard.
Bank of America’s Cathy Bessant says the bank’s talent is just as important as the technology they implement; the bank plans to spend more than $600mn on cybersecurity alone and says to TearSheet, “Sometime’s theres a misunderstanding that cyber defense is somehow all technology, and it’s not,” she said. “It’s judgment and how to assess a threat and think about mitigation every single day.”; technology is not only making the bank more efficient but it has also forced the bank to retrain employees for new technology skills, making the bank stronger overall; the bank is making a big push into AI and currently has more than 80 patents related to the new technology. Source.
The world of NFTs is never dull — as long as the money never stops. While investors continue to pour billions into the sector, albeit at a slowing pace, more crypto buyers are spinning up funds to back NFT platforms, projects and the non-fungible tokens themselves.
Accion Venture Lab, a seed stage investment vehicle for financial inclusion firm Accion, has sold its stake in Varthana; Varthana provides specialized loans and services so people in India can afford to attend private schools; Accion Venture Lab's first investment into Varthana was in 2013; Varthana recently raised $14 million in the spring of 2016. Source