Latest

Fintech

·Sep. 6, 2017

Expanding the Tent for Both Investors and Originators

Orchard has a unique perspective on online lending given how close they are both with originators and investors; Matt Burton shares themes from LendIt 2017 and looks back at what has happened over the past few years; Burton believes that many companies are positioned for growth this year with increased institutional investor interest; shares that the industry is still small compared to where it could go and explores what needs to happen in order to "expand the tent"; discusses growth in originations, securitization, partnerships and the expansion of asset classes in the industry. Source

Read Full Story

Asia/Pac Fintech News Roundup

·Sep. 6, 2017

China’s Fintechs Eye Overseas IPOs as Regulations Tighten at Home

A new wave of IPOs by mainland Chinese fintech companies is taking shape; P2P companies in particular are hungry for fresh capital to reinforce their business growth; two mainland-based P2P operators – Yirendai and China Rapid Finance – are currently traded in New York; Sorghum Investment last month announced a reverse merger with Nasdaq-listed China Commercial Credit which would make it the third. Source

Read Full Story

Asia/Pac Fintech News Roundup

·Sep. 6, 2017

SFC Warns ICOs May Be Subject to HK Securities Laws

Hong Kong financial regulator, the Securities and Futures Commission (SFC), has announced that tokens issued via initial coin offerings (ICOs) may be classified as securities; the classification may extend beyond ICOs into digital asset exchanges dealing in the tokens. Source

Read Full Story

Fintech News Roundup

·Sep. 6, 2017

PayPal Announces Five Startups for Incubation Program

PayPal will hold its PayPal Incubator in Chennai; the five startups selected for the PayPal Incubator include Finbox, Neoeyed, Paymatrix, Scalend and Tybo; the incubation program is in its fifth year and PayPal will be taking an undisclosed stake in each company; the program also offers technology counsel and mentorship, infrastructure support, and networking opportunities with investors and customers. Source

Read Full Story

Fintech News Roundup

·Sep. 6, 2017

Raiden Project Announces Blockchain Solution Milestone

The Raiden project has deployed a test network making it one step closer to implementation; the solution plans to allow for faster payments and lower fees by moving transactions off of the ethereum blockchain creating an alternate network channel; if successful the project could enable over a million transactions per second. Source

Read Full Story

Asia/Pac Fintech News Roundup

·Sep. 6, 2017

Ride-Sharing and Financial Services

Bloomberg reports on the possibility of ride-sharing companies getting into financial services; Grab is a leading ride-hailing company in Southeast Asia; app users can now start sending credits which are used to pay for rides to other users; by the end of 2017 credits will be able to be used at 1,000 restaurants and retailers, turning Grab into much more of an e-payment platform than just a taxi service; in Indonesia, the 200,000 drivers of Go-Jek can use e-wallets to store their earnings and also spend funds on a variety of services; article also shares innovation in Kenya with M-Pesa as well as China's Alibaba and WeChat. Source

Read Full Story

Fintech News Roundup USA

·Sep. 5, 2017

Fifth Third Launching New App, Momentum

The app is designed to help users pay down student loan debt; it links with customers' debit cards and rounds up purchases as spare change which is then used to make weekly payments to student loans; the bank will market the app to target millennials and add new customers. Source

Read Full Story

Fintech News Roundup USA

·Sep. 5, 2017

Lend Academy Podcast: Scott Zoldi of FICO

Scott Zoldi, chief analytics officer at FICO, discusses innovation in credit data, credit scoring and fraud protection; FICO has been using artificial intelligence for decades and the firm has over 130 patents; Scott has experience in theoretical physics and joined FICO in 1999 to focus on the use and development of data with a specific interest in machine learning; Scott talks about the company's standard credit scoring services and also the innovative solutions FICO has developed including the FICO XD score for financial inclusion and their fraud solution product, Falcon. Source

Read Full Story

Fintech News Roundup USA

·Sep. 5, 2017

Mike Cagney Reports on SoFi Lawsuits

Two cases involving sexual harassment charges have been filed against SoFi; CEO Mike Cagney wrote an open letter regarding the cases, stressing that he is taking the complaints seriously; Cagney and SoFi's legal team are in the process of investigating and responding to the filings. Source

Read Full Story

Fintech News Roundup USA

·Sep. 5, 2017

Protostarr Token Shuts Down after SEC Investigation

Its platform focused on funding from fans for internet celebrities on YouTube, Twitch and other live streaming platforms; in August it raised 119.5 ether which is about $47,000; the SEC notified Protostarr of its investigation however a final status has not been reported; the firm says forming a legal department to manage the ICO investigation and potential need for registration is not within its short-term plans and it will refund its ICO investors. Source

Read Full Story