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Fintech

·Mar. 29, 2017

Digital Investment Risks Continue in China

The Wall Street Journal reports on the prevalence of digital investment risk in China; notes 5,700 firms registered with the Association of Shanghai Internet Financial Industry; provides examples of losses from companies including Cosun and Shanghai Kuailu Investment Group. Source

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Fintech News Roundup North America

·Mar. 29, 2017

TD Bank and Moven Broaden Terms of Exclusivity Agreement

Moven has agreed to extend its exclusivity rights with TD Bank in Canada for another five years and broaden the agreement to the US; the exclusivity rights in the US are likely to result in a US launch of the partnership's money management tool, the MySpend app, which allows users to track spending and receive notifications; expansion of the white label app from Brett King's Moven is expected to add significant value for the fintech firm. Source

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Fintech News Roundup USA

·Mar. 29, 2017

The OCC Fintech Charter and State Regulators

The Office of the Comptroller of the Currency (OCC) released its fintech charter in March; many state regulators oppose the charter saying the OCC doesn't have the authority to offer the charter and that the charter is dangerous, unnecessary and violates state sovereignty; Brian Knight from the Mercatus Center at George Mason University discusses these arguments and how state legislation may evolve with the introduction and debate of the fintech charter. Source

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Fintech News Roundup

·Mar. 30, 2017

Quint Raises 10mn British Pounds from Tosca Debt Capital

Quint owns a number of fintech companies that focus on the consumer credit sector including Moneyguru.com; the company was founded in 2009 and currently has operations in the UK, US, Australia, Poland, China and South Africa; the £10 million ($12.5mn) infusion comes in the form of a debt facility from Tosca Debt Capital and this will see CEO and Founder Greg Cox's ownership stake increase to 90%; Richard Williams, Partner at Tosca Debt Capital, stated, "The deal will enable Quint to achieve its full potential in terms of growth and importantly ensure shareholder value is maximised over the next few years." Source

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Fintech News Roundup

·Mar. 30, 2017

Insurtech Investment in AI and IoT

According to a new report from Accenture, nearly half of investment in insurtech startups globally is going towards artificial intelligence (AI) and internet of things (IoT) technology; the report, titled, "The Rise of InsurTech," includes analysis from CB Insights data on 450 insurtech deals over the last three years; the report was released with the launch of Accenture's Fintech Innovation Lab in London, which will include a focus on insurtech. Source

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Fintech News Roundup

·Mar. 30, 2017

JPMorgan Limits Web Ads to 5,000 from 400,000

Kristin Lemkau, chief marketing officer at JPMorgan, says the bank has limited its web ads to 5,000 from 400,000 in an effort to improve the quality of ad displays; marketers have taken a programmatic advertising approach which features ads across the web based on browsing habits versus investment in individual sites; the new limitations for JPMorgan use a more customized white listing approach and are also the result of fewer ads on YouTube following recent issues. Source

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Fintech News Roundup Online Lending USA

·Mar. 30, 2017

PeerStreet Partners with Wealthfront

Online real estate lending platform PeerStreet has partnered with Wealthfront; PeerStreet will integrate with Wealthfront's Path offering; the integration has been facilitated by Quovo and will allow PeerStreet customers to view their PeerStreet investments holistically within their entire Wealthfront investment portfolio. Source

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Europe Fintech News Roundup

·Mar. 30, 2017

Challenger Bank Monzo Raises 2.46mn British Pounds on Crowdcube

Monzo has set a new Crowdcube record with fundraising from over 6,800 investors in its current fundraising campaign; firm has raised of 2.46 million British pounds ($3.06 million) and is targeting 2.47 million British pounds ($3.07 million); the crowdfunding campaign is part of a broader Series C funding round for 22 million British pounds ($27.37 million) which includes a 19.5 million British pounds ($24.26 million) investment from Thrive Capital, 5 million British pounds ($6.22 million) from Passion Capital and 1.5 million British pounds ($1.87 million) from Orange Digital Ventures; the firm has raised a total of 35 million British pounds ($43.54 million) in growth capital including a funding of 1 million British pounds ($1.24 million) in March of 2016 on Crowdcube. Source

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Fintech News Roundup USA

·Mar. 30, 2017

The Future of Advice – by Betterment’s Jon Stein

Jon Stein first looks to the past of investing in stocks with significant milestones such as the introduction of index funds, trade automation and decreasing trading costs leading to the ability to be easily diversified; thus old models of charging people to trade or to be diversified don't work; looking at the current and future trends Jon discusses that investors are now more responsible than ever for their own retirement and need advice; Jon Stein shares how Betterment is providing financial advice to more people; the company manages over $8 billion in assets and has 240,000 customers. Source

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Asia/Pac Fintech News Roundup

·Mar. 30, 2017

Orchard Platform’s Matt Burton Discusses China’s Fintech Industry

China represents 18.5% of the total world population and its business commerce has been growing rapidly; it also reports the four largest fintech unicorn valuations, Ant Financial, Lufax, JD Finance and Qufenqi; Matt Burton from Orchard Platform reports on these statistics and more in a recent blog post also highlighting the emphasis on mobile payments and technology services for the underbanked and unbanked; while China's fintech sector has shown exponential growth, the government is now increasing its focus on financial protection which is expected to improve the quality of fintech businesses; in the blog post, Burton also provides a list of companies he is watching by region in Asia. Source

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