As banks look to update legacy technology or partner with fintechs they have turned to consultants for advice; consulting firms like BCG, Accenture and the big four accounting firms, KPMG, PwC, Deloitte and EY have all been called upon to help structure deals or provide banks with advice on regulatory updates; financial institutions are relying on these consultants to help banks implement the technology changes and to adapt quicker as they can help bring knowledge from data scientists or app designers. Source.
·
Fintech Nexus talked to three fintech experts about trends, among them, exits, stablecoins and AI. Financial services is having a...
In this week’s PeerIQ Industry Update they cover the recent remarks by Fed Chairman Powell who says the recovery will...
In this week’s PeerIQ Industry Update they look at the record levels of consumer debt, some regulatory changes, new securitizations and give an update on recent hirings; consumer credit is now at an all time high surpassing $1tn, though per capita levels remain below peak; the Trump administration is looking to revise the Community Reinvestment Act rules to include small business loans; Marlette’s newest securitization, MFT 2018-1, consists of loans originated by Cross River bank for over $390mn and it has received ratings from Kroll; PeerIQ also announced the hiring of 6 new employees as the company continues to grow. Source.
Tempoe has completed a deal with its financing partner for a $150 million credit facility; the firm provides alternative leasing solutions for durable goods including furniture, appliances and electronics; the additional capital will help the firm to invest in the online shopping market, expand to additional retailers, explore new markets and make strategic acquisitions. Source
Consumer lenders Ally Financial and Synchrony Financial do not yet believe the current crisis will be as bad as the...
While most of the fintech world has been focused on small businesses since the onset of the crisis there is...
Micro-lenders in China have brought billions of packaged consumer loans to institutional investors in China; the market this year though may slow due to regulatory scrutiny according industry sources; the current leaders in this space include Ant Financial Services Group as well as groups within JD.com, Baidu, VIPShop Holdings and Xiaomi Technology. Source
The Wall Street Journal is reporting on an interesting new trend with credit card holders; rather than racking up more...
The nonprofit received a $1.5 million grant to monitor, evaluate and strengthen consumer protections in the digital financial marketplace. Here's what it's doing with the funds.