US regulators did not sign off on Ant Financial’s acquisition of MoneyGram, but this won’t hamper their US ambitions; Last May Ant Financial did a deal with First Data, the payment infrastructure company; Ant Financial has been largely successful in China due to the unique financial system there; in the US they face other challenges which includes a more developed financial system with legacy players; it remains to be seen whether the eventual leaders in the US will be technology companies like Amazon, something we’ve seen happen in China. Source
Earned Wage Access has, until now escaped the confines of sector-specific regulation. Nevada has stepped up to change that.
In a positive announcement for consumer data sharing, JPMorgan has agreed to allow Intuit customers to access bank data without sharing their passwords; the agreement will provide added convenience for JPMorgan customers using Intuit's Mint.com, TurboTax Online and QuickBooks Online; the elimination of passwords is expected to improve security and real-time access of account data. Source
I stumbled across an interesting report by Clarivate who, using a statistical analysis, have identified the 100 most innovative companies in the world. Technology advancement is a complex composition of talent, of competition and of need. New ideas emanate from everywhere scientists, engineers and developers reside. What is the methodology? …
Eric Schmidt, chairman of Google's parent company, Alphabet has become CFO Marty Chavez's new mentor at Goldman Sachs; the relationship is part of a new initiative that has Goldman Sachs focused on making its services for risk comparable to Google's services for search; the bank wants to be the leading source for trading and managing risks giving its firm the attention of risk managers that Google gets from advertisers; to do this it has created Data Lake, a machine learning platform that manages information on transactions, markets and investment research as well as communication from emails, voice calls and instant messages; the new internal technology system is based on APIs that connect different parts of the business to the Data Lake central database making its communication processes more efficient. Source
According to a recent survey by the Bank of International Settlements, over 70 percent of central banks are studying central...
The franchise will be in Seattle’s Central Region; Lendio franchises help businesses understand their financing options and apply for loans; Lendio currently has partnerships with more than 75 lenders across SBA loans, startup loans, equipment loans and commercial real estate; Lendio surpassed $300 million through the platform last year. Source
Forbes reports on new technology in the automotive sector; says internet of things connectivity will allow users to connect their bank accounts with their vehicles; Forbes talks with industry experts about the market's evolution. Source
Fundrise plans to offer a new fund that invests in the development of homes for sale in Los Angeles, California; investors in the fund will be investing in a diversified portfolio of real estate properties in development and for sale with the option to buy homes in the portfolio; investors will receive distributions from the fund's operating cash flow which will primarily be generated from the sale of homes in the fund; distributions may also be made from other sources of cash flow including structured equity or debt. Source