Now that JPMorgan Chase, Goldman Sachs, Capital One and others offer the alternative credit option, the startups that created this market are adding products to cement their hold on consumers and merchants.
Yixin Group Ltd., a Chinese online car lender, filed for a Hong Kong IPO looking to raise $900mn; the deal could value the fintech company at $6.5bn if shares price on the higher end; Yixin Group Ltd. is a unit of NY listed Bitauto and is backed by Baidu Inc., Tencent Holdings Ltd. and JD.com Inc. Source.
JPM CEO Jamie Dimon Slams Bitcoin as Worthless: Report. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
The most recent report on US consumer credit shows credit card debt reaching a new high and surpassing the previous peak reached in 2008; outstanding credit card debt in June was $1.02 trillion; source discusses increased market competition in the credit card market; also notes higher default rates yet increased risk taking given the improved market environment. Source
BlackRock is leading a $50mn investment round into microinvesting app Acorns to help build out their investment options; BlackRock joins...
BNPL company Zip has announced “it is in discussions” with installment payment platform Sezzle regarding a possible acquisition.
Following the financial crisis many financial institutions scaled back on their debit card rewards programs; for some fintechs though this...
According to TU's data, the fraud attempt rate decreased by 22.6% globally in the first quarter compared to Q1 last year.
How Wells Fargo Uses AI, Biometrics To Fight Money Laundering Discussing the gender gap in fintech firms Competition Steps Up...
Tonderys shares what makes Marlette Funding different and what he sees in the market for next year; he also provides his take on traditional banks getting into the business and where personal lending overall will be in five years. Source