Voice recognition and machine learning technology are combining to offer consumers new services across various industries; in financial services ING has invested $945 million in a digital technology initiative that plans to include voice automated banking services through devices such as Amazon Alexa and Google Home; Amazon Alexa is now working with many financial services clients for voice integration including UBS, LPL, Fidelity, Capital One and Betterment; this week it was also reported that Wal-Mart will partner with Google to offer customers voice directed ordering through Google Home on Google Express. Source
One of the last actions of the Obama administration this week was to release a policy framework for fintech. This was a follow up from the White House Fintech Summit in June 2016 where many of the leading fintech companies gathered in Washington for a day of presentations and roundtable discussions. The paper provides a framework with ten principles that policymakers and regulators can use to think about and engage with the fintech ecosystem. Given today is the inauguration day for a new administration we won't know if these principles will be carried through but we do hope the Trump White House will make fintech innovation a priority. Source
Katie Haun, who co-led Andreessen Horowitz’s crypto arm before announcing her departure this past December, is ready to take the wraps off her new organization, which she’s calling Haun Ventures.The venture capital firm is devoted to backing crypto startups and is launching with $1.5 billion in capital...
In this week’s PeerIQ Industry Update they cover the latest minutes from the FOMC meeting, the new NY Fed report on mortgage lending and Lending Club’s earnings report; the FOMC is on track to raise rates 3 times in 2018 and the new rates could affect ABS pricing; the NY Fed report on the role of technology on mortgage lending said fintech lenders are reducing processing times by 20 percent and default rates by 25 percent; Lending Club reported record revenue and a net loss, their stock dropped 18 percent on the news; PeerIQ also gives a report on their recent partnership with Cross River Bank. Source.
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Forbes partnered with market research firm Statista to measure the best banks in more than 20 countries by surveying more...
This year’s Forbes 30 under 30 list features a diverse list of leading VC’s, crypto enthusiasts, fintech entrepreneurs and emerging...