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Fintech

·Mar. 30, 2017

Throwback Thursday: Fintech Views from Patrick McHenry

Patrick McHenry is one of the most proactive advocates for fintech in Congress; at LendIt USA 2017 he provided his insight from Congress on fintech and also spoke with Lend Academy in their podcast; his views are framing many of Washington D.C.'s legislative debates and his legislation, the Financial Services Innovation Act of 2016 (HR 6118), could be a significant factor helping to support future fintech innovation in the US. Source

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Europe Fintech News Roundup

·Mar. 30, 2017

Innovate Finance Comments on Brexit Deliberations and Fintech

The UK has triggered Article 50 and the 27 European Union countries will now begin negotiating with the UK for new terms; Innovate Finance's Lawrence Wintermeyer provides comments on the effects on fintech; says Brexit will make it more challenging for the UK to attract global investment and talent; Wintermeyer also says Brexit could potentially create new opportunities for regtech which will become increasingly important in cross-border activities. Source

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Fintech News Roundup USA

·Mar. 30, 2017

BlackRock Increases Focus on Automated Investment Management

BlackRock's new investment management executive Mark Wiseman has reorganized the business with a greater focus on automated investing for its active funds; the changes will focus on the actively-managed equities business and include pricing changes and increased use of computer models for active investment funds; the firm's passive investments have helped it grow assets under management to $5.1 trillion however its active fund performance has lagged and in 2016 reported $275.1 billion invested, a decrease from $317.3 billion three years prior. Source

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Fintech News Roundup

·Mar. 31, 2017

Manatt’s Latest Newsletter on Financial Services Law

Manatt provides a roundup on what is going on in financial services law; stories include: Industry Groups Respond on Consumer Access to Financial Records, Home Depot Settles Data Breach Suit for $25M, CFPB Proposes Delay for Prepaid Rule, Payday Lenders Can't Halt Operation Choke Point, Court Rules, and Mortgage Lender Hit With Record HMDA Penalty. Source

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Asia/Pac Fintech News Roundup

·Mar. 31, 2017

Singapore Exchange Announces Fintech Deals with Crowdo and PwC

The Singapore Exchange has closed a deal with online debt and equity crowdfunding platform Crowdo with terms of the deal including support for raising small and medium enterprise (SME) awareness or capital funding availability in Singapore, information sharing and cross-referral of clients; similar deal terms were included in the Singapore Exchange and PwC deal with promotion of the Singapore startup ecosystem a central component of the deal. Source

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Asia/Pac Fintech News Roundup

·Mar. 31, 2017

Follow Up Friday: CreditEase Reporting Significant Fintech Investment through Fintech Funds

CreditEase has been reporting significant fintech investment from a range of fintech funds managed by the firm; it announced this week that its CreditEase Wealth Management Offshore Private Credit Fund (OPCF) was investing $30 million in OnDeck and LendingHome and that it also had plans for another Offshore Private Credit Fund (OPCF II) focused on fintech with a $200 million investment target; at LendIt USA 2017 the firm announced three new fintech investments for its CreditEase Fintech Investment Fund (CEFIF) which has $1 billion in total committed capital; it's also investing in Israeli fintech through two funds focused on tech startups in Israel. Source

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Fintech News Roundup

·Mar. 31, 2017

CB Insights Reports on Success Rates of Startups

CB Insights has analyzed 1,098 startups which raised capital from 2008 to 2010; only 46% followed with a second funding round and 14% achieved a fourth round of funding; only 10 companies or 0.91% achieved unicorn status with a valuation of $1 billion and approximately 70% of the startups have failed. Source

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Fintech News Roundup

·Mar. 31, 2017

AI Acquisitions Since 2012

CB Insights reports on artificial intelligence (AI) startups that have been acquired since 2012; top acquirers include Google, Apple, Facebook and Intel; 200 AI companies have been acquired since 2012 and the first quarter of 2017 reported 34 AI acquisitions including the largest deal from Ford which acquired Argo AI for $1 billion. Source

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Asia/Pac Fintech News Roundup

·Mar. 31, 2017

Wins Finance Holdings Reports Gain of +3,000%

Bloomberg reports on Wins Finance Holdings (WINS) which currently has an inception to date return of 3,305% and is trading at $230; the Chinese company has a small business loan and equipment leasing business; the stock is in the Nasdaq Composite and reports the index's highest 12-month return; while the Chinese stock appears to be a little known discovery, its business financials are rather abstract; Bloomberg provides details on the company including information from its public reports which began with its 2015 Nasdaq listing. Source

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Fintech News Roundup USA

·Mar. 31, 2017

A Bearish View on Square, Inc.

SeekingAlpha reports on the valuation of Square, Inc. citing several factors that have led to an overvalued stock price of $17.37; the author reports that assumptions on the growth of its customers is overestimated; says it will have difficulty when expanding to higher value customers and internationally also reporting that the business model is at risk to lower cost market competitors; also says that its reliance on Square Capital lending to retain customers and balance attrition of gross payment volume is unlikely primarily due to market competition. Source

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