Fintech companies around the world are receiving huge funding rounds at sky high valuations; Goldman Sachs’ Principal Strategic Investments Group...
Bitcoin has increased over 550% this year and many firms are taking an increased interest in the cryptocurrency; CME Group launching futures contracts for bitcoin is just one example; the WSJ looks at what futures contracts for bitcoin will potentially mean for the market. Source
In an interesting use case Santander has become the first company in the world to use blockchain to make it...
Fed Lacks Ammo; Varo Wins Race for Charter; Visa Enters POS CIT revamps B2B point-of-sale lending platform SoftBank to invest...
Quoting data from Transunion the Wall Street Journal is reporting that 106 million loans have been enrolled in forbearance, deferment...
Credit card fintech Brex has made three acquisitions as the company looks to grow through a number of different ways;...
TCF Financial has stepped away from the auto lending business while Regions Financial and Fifth Third Bancorp are tapping the breaks according to American Banker; lenders are concerned with credit, regulation as well as low yields; some expect the trend to continue while creating an opportunity for lenders who stick around. Source
DirectMoney completed the wholesale lending deal with 255 Finance where $50 million worth of originated loan assets will be purchased; the deal will also include an equity stake and options for 255 Finance, with the plan to increase loan buying in the future; DirectMoney Executive Chairman Mr. John Nantes said: "We are very excited to complete this agreement with a company with the capability of 255 Finance as we target the fintech opportunities in the $100 billion consumer finance market in Australia. After engaging with many potential wholesale funders and varying structures over recent months, this deal was always our preferred outcome, and we're delighted to announce it today." Source
Veem, which claims to be a "leading" provider of global B2B payment solutions, has announced the rollout of new functionalities.
A new report out by Citi says that new digital-first challenger banks may cause a 30% revenue hit to incumbent...