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Fintech

FintechNews Roundup
·Dec. 14, 2016

Deloitte Releases Blockchain Technology Survey Report

Deloitte surveyed 308 senior executives at companies with revenue of $500 million or more to gain a better understanding of the corporate market's blockchain technology positioning; survey finds widespread interest across all industries; 61% of surveyed respondents had broad to expert knowledge of blockchain and the majority of these respondents said blockchain adoption would be important for their business; while attention for blockchain innovation has mainly been focused on the financial services industry, Deloitte's survey finds significant innovation and progression across multiple industries; most notably, the consumer products and manufacturing industries have reported the greatest number of patent filings, with 38% of respondents reporting blockchain patents filed by their company.  Source

 

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Asia/PacFintechNews Roundup
·Dec. 14, 2016

Microsoft Announces Partnership for Asia’s First Blockchain Consortium

Microsoft has partnered with AMIS and the Industrial Technology Research Institute of Taiwan to form Asia's first blockchain consortium; the partnership will build on the success of Microsoft's Blockchain-as-a-Service (BaaS) on Microsoft Azure which it announced in April; the consortium will focus on blockchain solutions that provide increased efficiency and cost savings for companies in Taiwan.  Source

 

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FintechNews RoundupUSA
·Dec. 14, 2016

First Republic Bank Acquires Student Loan Repayment Technology Platform

First Republic Bank has acquired Gradifi, a student loan repayment technology platform; the platform offers technology that allows employers to make contributions to the student loans of their employees; an increasing number of employers have been integrating student loan contributions with their benefit plans; Gradifi will become a wholly-owned subsidiary of First Republic Bank and the acquisition will help it to meet the increasing demand for its technology.  Source

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FintechNews Roundup
·Dec. 14, 2016

Even Financial Announces over $1.5bn in Loan Requests

Even Financial has been rapidly growing its business, now reporting over $1.5 billion in loan requests through its technology offerings; firm says loan originations from its services have been growing at a quarterly rate of 205%; the growth has been the result of increased interest in its offerings and expanding partnerships with lending businesses; firm provides technology for publishers seeking to build online solutions that compare lenders; it also offers its technology services to merchants for helping their clients identify the best financing options for purchases.  Source

 

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FintechNews Roundup
·Dec. 15, 2016

Job Opening: FinSight Ventures Seeks Portfolio Manager

FinSight Ventures, a global venture capital firm focused on fintech companies, is seeking a portfolio manager for investing in real estate loans; the position will first be on a consulting basis which may lead to a permanent role; the firm has invested in companies such as Earnest, Dianrong, Lending Club and Financeit.

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FintechNews RoundupNorth America
·Dec. 15, 2016

NCFA Publishes Report on Crowdfunding Market in Canada

The National Crowdfunding Association of Canada (NCFA) has published a report providing insight on the country's crowdfunding market; identifies a need for regulation that will help support the industry's growth while also setting standards for the market overall; predicts transaction value of $190 million for 2016; says the industry has grown 48% from 2013 to 2015.  Source

 

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FintechNews Roundup
·Dec. 15, 2016

Hippo Raises $14mn for Insurtech Business

Insurtech company, Hippo, has raised $14 million in a Series A funding round led by Horizons Ventures; firm provides online home insurance offerings at a more affordable market price due to its online business model and direct to consumer offerings; says its policies are customized to meet the needs of modern lifestyles; plans to use the funding for product development and marketing for its launch to customers in California in 2017.  Source

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FintechNews RoundupUSA
·Dec. 15, 2016

Insurtech Company, One, Inc., Raises $20mn

One, Inc. has announced the closing of a Series B funding round which raised $20 million for the firm; the Series B funding follows a Series A funding round in 2014 and brings total capital raised to $36.7 million; investors in the Series B funding round included AXA Strategic Ventures, MassMutual Ventures and H&Q Asia Pacific; over the past three years the company has tripled its annual revenue and quadrupled its number of customers; offers a full Software-as-a-Service (SaaS) platform that provides for all the core functions an insurance company needs; provides solutions for both new market entrants and large insurance providers seeking new technology platforms; it plans to use the new capital to add products and business lines as well as for global expansion.  Source

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EuropeFintechNews Roundup
·Dec. 15, 2016

Metro Bank Chairman Dismisses App-Only Banks

The founder of Metro Bank, a UK challenger bank, says app-only banks are "all hype" and sees them more as a provider of solutions and not banking; Vernon Hill told Business Insider in an interview that Metro Bank has been around for six years, has a market cap of $3.2 billion but only started to become profitable now; he went on to say: "No mobile-only bank can deliver anything I can't deliver in the next minute and a half. What they're offering you is a tool, not a solution. The customer wants the best of every channel and my job is to deliver them the best of every channel."  Source

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Asia/PacFintechNews Roundup
·Dec. 15, 2016

Lufax Developing Internationalized Trading Platform

Chinese internet finance business, Lufax, is developing an online trading platform for Chinese investors that will allow them to invest in assets anywhere in the world; the firm is the world's second largest financial technology company; the trading platform it is developing will launch in 2017 and seeks to meet a demand from Chinese investors to diversify away from a depreciating yuan.  Source

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