Oakam has originated more than 420,000 loans and over $275mn to customers with little or bad credit; the UK based lender uses credit bureau data and alternative data including network associations, behavioral data and chat data between potential customers and their agents; the combination of the data sources has allowed them to better asses risk to a client base mostly ignored by traditional financial firms. Source.
The second round of the Paycheck Protection Program launched this morning at 10:30am ET; Congress approved $484 billion in additional...
RateSetter hits £2.5bn of lending Germany’s largest private and commercial bank launches Are we in the Golden Age of Fintech?...
Innovate Finance is encouraging the creation of two new fintech hubs in Bahrain and the UAE; Innovate Finance's CEO Lawrence Wintermeyer spoke on the potential benefits of a fintech hub for Bahrain on Monday at the FinTech Enterprise Excellerate (E2) conference; while in Bahrain, Innovate Finance will also meet with Bahrain fintech regulators; later in the week Innovate Finance plans to meet with fintech supporters in the UAE. Source
Recent research shows that younger consumers are uncomfortable with carrying credit card balances; consumers are more comfortable with products like personal loans that are more transparent and easier to understand; there has been an increased interest in point of sale financing; one company driving this trend is GreenSky which partners with banks to fund loans; the proportion of consumer loans going to point of sale financing has increased significantly at banks that partner with GreenSky including Regions, Synovus and Fifth Third. Source
Vanguard venture with Ant Group lures 200,000 Chinese clients Moneybox bags £30m Series C as it reaches £1bn in assets...
Balderton Capital is best known for their fintech investments in Nutmeg, Revolut, Crowdcuve and Prodigy Finance; the firm has now launched their sixth fund totaling $375 million from investors in Europe, Asia and the US; they have made 10 investments across five countries since March. Source
Credit lines will be used to further expand Habi’s capacity to offer financial services to its consumers to buy and sell their homes
Chilean Datamart raised $6.3 million in a seed round to expand into Mexico. Moonvalley Capital led the funding.
A recent study by the Global Financial Literacy Excellence Center at the George Washington School of Business shows that users...