After considerable outcry the Cleveland Fed has removed their study about online lending; “In light of the comments received, the authors are currently revising their paper to further clarify the data sample they used in the study,” Cleveland Fed spokesman Tim Dewald said in an email to American Banker; they plan to post a new version of the paper after completing significant revisions. Lend Academy also covered the removal of the report after posting about the release last week. Source.
Revolut, one of the largest digital banks in the world, has announced plans to expand its business to Latin America’s largest markets.
The transaction, expected to close in the fall, would expand the Canadian bank's Southeast footprint, adding $55 billion of loans and $75 billion of deposits to its balance sheet and making it the U.S.'s sixth-largest retail bank.
Socure has added $13 million from a funding round led by Flint Capital; Socure provides software as a service solutions that increase customer acceptance and reduce uncaught fraud; according to Flint Capital Partner Sergey Gribov, "The company supplements market deficiencies in which current identity verification solutions fall short, including millennials, who largely avoid the use of credit, or abroad, where credit systems don't exist at all." Source
Biz2Credit has partnered with Puerto Rico's Oriental Bank to support online lending for the bank's commercial clients with a specific focus on small businesses; Biz2Credit and Oriental Bank will develop a digital lending platform for business credit cards, lines of credit, term loans, real estate loans, equipment purchases and SBA loans; the platform is reported to be the first of its kind in Puerto Rico. Source
Former bankers Antony Jenkins, Jonthan Larsen and Vikram Pandit all have found a great deal of success in moving into...
El banco español BBVA lanzó un nuevo análisis donde sostiene que las aplicaciones descentralizadas (DApps) serán cada vez más importantes, ya que mientras todos los miembros actúan conjuntamente como un colectivo y es el sistema quien se encarga de corroborar la validez de cada interacción.Patrocinado...
Cross River Bank announced a collaboration with American Express at Money 20/20 Monday.
Quontic punches above its weight 13 years after launching as a community bank on Long Island, and it recently launched in the metaverse.
Fred Wilson is urging investors to diversify their bitcoin assets before the crash comes; while he does not offer a timeframe for when this might occur he does think diversification will protect those who are heavily invested; he is a believer in the crypto markets in general and thinks they add value to a portfolio. Source.