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Fintech

·Apr. 20, 2017

Low Cost Brokerage Provider Loyal3 is Shutting Down

Loyal3 recently announced the service would be shutting down effective May 22, 2017; the company provided commission free investments with a minimum investment of just $10; also offered investors a chance to access some IPOs; Loyal3 is offering several options to investors including moving securities to FolioFirst, transferring shares to another brokerage or selling shares; many people speculate that the shutdown will be a boon to Robinhood's business which offers similar services. Source

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Fintech News Roundup USA

·Mar. 11, 2019

Low Unemployment, Securitization News and GreenSky Earnings

In this week’s PeerIQ Industry Update they cover the drop in unemployment to 3.8 percent and the rise in hourly...

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Fintech

·Dec. 22, 2021

Loyalty points set to transform fintech in 2022

The fintech community's one-stop-shop for all things lending and digital banking. Conferences, podcasts, news, webinars, & white papers showcasing the latest in fintech.

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Fintech News Roundup USA

·Aug. 4, 2017

LPL’s Perspective on Wealth Management Innovation

LPL has increased their technology spending from $38 million in 2011 to $77 million in 2016; tech executives from the firm say that when it comes to wealth management, innovation firms, like Acorns, are better concepts for inspiration than for instance Betterment; company believes that micro transactions for savings are an important part of the younger generation's experience and the company is taking a generational approach to products to offer a customized product for each type of client; LPL is launching their new robot advice platform, Guided Wealth, this month. Source

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Asia/Pac Fintech News Roundup Online Lending

·Mar. 1, 2017

Lufax Achieving Success in China

In business for six years, Lufax has expanded to meet a growing market demand for fintech products in China with a number of factors helping its success; beginning as a P2P lending firm with the support of Ping An the firm has been able to expand its business to wealth management and overall sees an underserved domestic market of over one billion people interested in the firm's solutions; it now has over 25.5 million registered users, RMB390.92 billion ($57 billion) of retail assets and RMB111.65 billion ($16 billion) of loans under management; it has been able to successfully navigate the market challenges with help from Ping An and is now approaching an even more global introduction through its potential initial public offering expected for later this year in Hong Kong which could raise approximately $5 billion for the firm. Source

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Asia/Pac Fintech News Roundup

·Aug. 21, 2017

Lufax Becomes Profitable Ahead of Planned IPO

Ping An Insurance Group's online lender Lufax reported that it is now profitable and is hoping to keep that trend for the rest of the year; "Lufax's development is extremely robust. It actually turned around in the first half. We are very confident that it could stay profitable for the full-year," said Jessica Tan Sin-Yin, Ping An's chief operating officer and chief information officer, during the Chinese insurance group's earnings announcement; Lufax is the largest P2P lending platform in China with $225 billion of outstanding loans; according to their latest funding round in January the company is valued at $18.5 billion with 43% being held by Ping An; the company is planning to go public soon and according to CEO Gregory Gibb they have done a lot of homework for Hong Kong ahead of the potential listing. Source

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Fintech News Roundup

·Mar. 22, 2018

Lufax Delays IPO Amid Regulatory Crackdown

One of China’s largest online lenders has shelved their IPO because of the regulatory crackdown on online lending; the FT reports that Lufax is waiting until the China Banking Regulatory Commission (CBRC) required online lenders to apply for a license; the current thinking is the government will approve licenses in April, though the time frame could be a bit longer; Lufax wants to ensure they get it right instead of rushing to be first. Source.

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Asia/Pac Fintech News Roundup

·Dec. 15, 2016

Lufax Developing Internationalized Trading Platform

Chinese internet finance business, Lufax, is developing an online trading platform for Chinese investors that will allow them to invest in assets anywhere in the world; the firm is the world's second largest financial technology company; the trading platform it is developing will launch in 2017 and seeks to meet a demand from Chinese investors to diversify away from a depreciating yuan. Source

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Asia/Pac Fintech News Roundup Online Lending

·Mar. 24, 2017

Lufax Planning Wealth Management Platform Launch for 2017

Lufax is one of China's leading P2P lenders with support from Ping An Insurance; it is currently planning to launch a global asset allocation platform to facilitate investment for middle income earners across Asia in 2017; the platform will build on the company's offerings in P2P lending and wealth management; Lufax is also working with four investment banks on an initial public offering in Hong Kong. Source

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Fintech News Roundup

·Mar. 13, 2019