There’s a segment of the population who wish credit cards would go away, and they jump on any negative change in the credit card market as evidence of the decline and impending death of credit cards. It’s just not realistic thinking.
Fabric is a new insurtech startup that is looking to focus on new and expecting parents; they currently have two offerings, Fabric Instant and Fabric Premium; Fabric Instant is an accidental death policy which you can obtain in two minutes with minimal information and Fabric Premium is their 20 year policy which requires a checkup; they recently raised a $2.5 million seed round from Bessemer Venture Partners for their launch and continued product development; policies are currently underwritten by Vantis Life Insurance at $6 per $100,00 of coverage. Source
New insurtech platform Ladder has launched, offering digital life insurance; the platform's life insurance product will be available to consumers in California; the company is marketing a faster, more efficient process for life insurance applications and coverage; its platform can approve customers in minutes for life insurance policies up to $8 million; it charges no annual policy fees and its policies are reinsured by Hannover Re US. Source
A new consortium has been developed for internet of things (IoT) blockchain technology; the consortium includes established companies and blockchain startups targeting various industries; overall the consortium will focus on setting blockchain industry standards and developing new solutions for IoT technology. Source
The first ever J.D. Power survey on the personal loan market makes for some interesting reading; the survey was based...
The examples of both Dropp and Helium seem to indicate that there is real innovation in micropayment business models around shared ledgers and tokens, way out beyond the Bitcoin blockchain, cryptocurrency speculation and NFT madness.
In April 2018, LendingClub provided us with $5,000 to open a brand new account; since then we have been chronicling the...
In 2018 LendingClub provided us with $5,000 to open a new account; since then we have been tracking returns every...
Corporate loan trading has historically been a manual process involving millions of emails annually between buyers, sellers and borrowers making it difficult to automate; however new technologies, including blockchain, have been advancing with potential solutions for automation; a new rule which went into effect last September has helped to increase transaction and settlement times; the new rule provides a compensation incentive for faster loan settlement and has improved the average settlement time by four days; the faster settlement has caused many fintech innovators to change their focus from settlement automation to process efficiency. Source
The UK’s Financial Conduct Authority (FCA) has grown worried that ads of promised returns from p2p lenders in the UK...