American Express is looking to use the same style data that has made PayPal and Square so successful in small business lending; Gina Taylor Cotter, senior vice president and general manager of global commercial financing at American Express. tells American Banker,“We have done some research on this and we are trusted providers, so this puts us neatly between banks that may have a longer application process and the online lenders who are fast, but maybe a bit more expensive." Source.
Chris Larsen, Ripple’s co-founder and executive chairman is benefiting from Ripple’s (XRP) recent rise; CNBC reports that his net worth climbed to $59.9 billion yesterday, at least on paper; this puts him high on the Forbes 400 list, just head of Larry Ellison; Larsen owns 5.19 billion of the digital currency and has a 17% stake in the company; he was previously a founder of Prosper. Source
The US retail crypto market is up for grabs.Binance.US CEO and ex-Uber exec Brian Shroder thinks his exchange can win the race...
Revolut has become one of the hottest European fintechs and is now launching in the U.S. where anyone can sign...
National Internet Finance Association (NIFA) of China on August 30 released ICOs risk alerts; the Association highlights two kinds of risks: 1) some projects raise money in the name of ICO with misguided publicity and this may lead to illegal fundraising; 2) the assets of some ICO projects remain unclear and the information disclosure is far from sufficient. Source (Chinese)
About a year ago TD Bank acquired the AI startup Layer6 and they hoped to use their technology to quickly...
The F-Prime Fintech Index tracks the performance of emerging, publicly traded financial technology companies.
The Financial Health Network released its 10th annual Spend Report, showing the first-ever overall decline in spending on interest and fees.
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Mounting cryptocurrency adoption in Latin America is drawing investment capital into the region, signifying that growing interest.