The embattled online mortgage lender Better.com announced today several new hires of senior executives in an effort to reinvent its image.
PayPal saw payment volumes grow by 29 percent and they added 8.7 million new accounts in Q4 2017; the recent announcement that eBay was replacing PayPal with Adyen for processing overshadowed what was another strong quarter by the company; while the Adyen news was not positive for PayPal it could be seen as that in the long term as the company has been diversifying more in recent years; PayPal has seen growth through more partnerships with card networks and banks globally. Source.
Shareholders of PayPal have sued firm directors implying that management falsified statements in quarterly reporting related to Venmo; as a subsidiary of PayPal, Venmo's business activities influence the overall results of the firm; in 2016 Venmo was investigated for unfair and deceptive practices resulting in a fine and ongoing investigations with the FTC; shareholders are arguing that PayPal did not properly disclose and inform shareholders of the implications of the investigations which led to shareholder losses of approximately 15%. Source
The Chinese fintech market has primarily been dominated by local giants but global firms have started to build a presence...
The class-action lawsuit alleges that Cuban's promotion of now-bankrupt crypto firm Voyager cost investors $5 billion...
The haul taken by two co-founders and two executives contrasts with the sharp decline in the shares since they became available to the public last year.
CB Insights provides a market map with 102 lending, investing and personal finance startups; gives retail consumers an array of options to choose from; includes companies providing innovative solutions across the entire retail banking market. Source
This week’s PeerIQ Industry Update covers 4th quarter GDP news, another round of bank earnings, the new SoFi CEO, fintech fundraising’s and the latest securitization trends; the new SoFi CEO was accepted positively across the market as the company looks to expand products in coming quarters; SoFi and Lending Club are looking at a busy quarter on securitization issuance and PeerIQ reviews their most recent deals; Streetshares secured a $23mn series B round led by Rotunda Capital; PeerIQ also took a deep dive into the key points of the recent letter CFPB Director Mulvaney circulated to staff about his vision for the bureau. Source.
As open data is seen as a necessity moving into the digital age, consumer permissioned data could be the key to manage privacy concerns.
OnDeck is combining their Canadian business with Evolocity Financial Group which is a Montreal-based online small business lender; the combined...