Monzo has become the first bank to offers its customers a free credit score service; starting in March the UK...
Monzo users might see their credit scores take a hit due to the digital bank sharing data only with TransUnion...
Many staff members at the challenger banks are working from home with Starling and Revolut opting to split staff between...
Digital only banks Monzo, Starling Bank and Monese have all see some benefits from fellow digital bank N26 deciding to...
Moody's new portal called MARQ will automate exchange of financial information between borrowers and lenders; new portal will also generate the MARQ small business credit score; score is based on Moody's RiskCalc models for analyzing private company credit risk.
Moody's has issued comments on the OCC's announcement to offer a fintech charter; says the fintech charter would help reduce legal risks from partner bank funding; focuses on the effects from the charter on partner bank funding relationships; says banks could stop relying on partner banks to fund loan originations. Source
UK robo advisor Moola has hired Simon Moore, former chief investment officer of BlackRock's FutureAdvisor; Moola offers BlackRock's products to its clients for a minimum investment of £200 ($249.68); Moore will help the firm expand its investment capabilities and meet the evolving needs of the platform's customers. Source
Moorwand, a payments solutions provider, offering BIN sponsorship and issuing services, today announced the launch of its suite of payments compliance services.
According to new data bank branches in the US decreased by 1,700 over the last 12 months; this is the biggest decline on record; closings are concentrated in big cities and surrounding suburbs and is attributed to less foot traffic; other closures occurring in rural areas are due to some regional lenders leaving the area; the decrease in regional bank branches is something that has accelerated more recently compared to big banks beginning to close branches years ago; Capital One, SunTrust and Regions have closed 32%, 22% and 12% of their branches respectively from mid-2012 to mid-2017. Source
PPDAI plans for an IPO this month and co-founder Shaofeng Gu owns more than 25% of the business; Ning Tang of Yirendai, a US listed public company, owns 36% of the company; This year three Chinese fintech companies have gone public, raising $2.45 billion; Bloomberg provides data on the rise of the wealthiest billionaires in China. Source