Both Marlette and LendingClub now have their own securitization platforms which has broadened their investor base; Sid Jajodia, chief investment officer at LendingClub spoke at the Structured Finance Industry Group’s conference in Las Vegas this week and discussed the importance of brining LendingClub’s loans in-house; he also spoke about their new whole-loan structured product announced in December as well as changes that might make sense for the company in the future; Karan Mehta, head of capital markets for Marlette discussed changes they are making to their whole-loan program. Source
UK-based mobile banking app Monese raised $10 million in funding from Anthemis Exponential Ventures, Korea Investment Partners and STE Capital; funds will be used to expand into continental Europe and to offer new credit and direct debit services; since launching in 2015 the company has signed up 40,000 customers from 179 countries who have made 1.8 million transactions; total dollars transacted is over $180 million. Source
A deal with Apple to power its BNPL strategy is helping position Mastercard for future success, writes Bloom's James Hickson.
The buy now, pay later phenomenon is showing little signs of slowing down. Shoppers have flocked to the option over...
SoftBank’s Vision Fund has invested $800 million into Greensill who provides alternative supply chain financing; the company is now valued...
The collapse of property lending platform Lendy in the UK has investors concerned about their £165 million of money invested...
With the rise of fintech Brazil has seen a more competitive banking system with the largest banks losing market share
Digital upstarts like Square, Stripe and PayPal are invading community banks' turf by appealing to local merchants with a mix of electronic payments and lending. Small banks are fighting back by leaning into digital services while maintaining their personal touch.
The Bank of England has teamed up with the Massachusetts Institute of Technology on a twelve-month research project on central bank digital currencies.
Block, Inc. (NYSE: SQ) and Afterpay Limited today announced the successful completion of the Scheme of Arrangement under which Block...