This weeks PeerIQ Weekly Industry Update covers the power struggle at the CFPB and Lending Club’s new pass through security transaction; a federal judge sided with the Trump administration in the CFPB spat and allowed for Mr. Mulvaney to run the agency for now; Lending Club completed a first of it’s kind deal and in turn will help them to expand the market, lower financing costs, address secondary market liquidity and allows valuation agents to calibrate pricing; PeerIQ also took a deep dive on mortgage delinquencies during the 2008 financial crisis. Source.
ComplyCube and Capital Pilot have joined forced to provide enhanced access to funding for startups at a critical time.
UK based fintech firms helped push technology investment in the UK to all time highs in 2017; fintech firms accounted for almost half of the £3bn invested; leading fintech firms TransferWise, Funding Circle and Monzo helped push the investment number as they all raised significant rounds; Eileen Burbidge, Partner at Passion Capital, tells AltFi, “"It's a testament to our exceptional entrepreneurs that the UK tech sector continues to produce companies that are leading in the development of cutting edge technologies such as artificial intelligence and fintech.” Source.
As the growing value of cryptocurrencies generated increased media attention, the IRS began watching the space more closely.
The brokerage has struggled to boost revenue and retain customers.
Santander announced recently that it will spend €20 billion ($22 billion) on digital transformation through 2022; JPMorgan Chase has said...
TechCrunch has published the video from an interview with Vitalik Buterin, the co-founder of Ethereum; in the interview he talked about cryptocurrencies and blockchain, highlighting what makes a good use case for the technology. Source
The FCA has placed Lendy under special supervision in January citing concerns about their ability to meet the standards required...
Embedded finance is the “embedding” of banking software into a non-banking company’s operations. What makes it interesting is that it creates new revenue opportunities for both fintechs and banks.
The bottom-line result of brands providing financial products to consumers creates a flywheel effect—the financial products not only generate revenue, but they lead to consumers spending more money on the brand’s products and services than they had before obtaining the financial product.