Hongling Capital Monday had a press conference after the company announced to close its online lending business last week; Hongling Capital will be "upgraded" to Hongling Holding, and the latter will focus on industry finance, investment banking, asset management and wealth management, Hongling Chairman Zhou Shiping said in the press conference. Source (Chinese)
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In its discussion of how banks can become digital lenders, The Financial Brand provides the above chart; while mobile lending apps are only one aspect of a comprehensive digital lending platform, they are a core feature that customers rely on; the chart outlines the key features customers seek from mobile lending apps with the top features including the capability to lock in interest rates, calculate loan amounts and check an application status. Source
APIs combined with banking has become an important topic for banks and fintech companies; we are seeing increasing interest in APIs as every bank has to have an API or open banking strategy; since APIs often need to be built on legacy infrastructure there are often many challenges involved; the panel has a wide variety of perspectives from API service providers to banks who share how to build APIs on traditional banking technology. Source
Starting August 1 at about 8:20 AM EST, the bitcoin blockchain split, and there is a new set of tokens - bitcoin cash (BCC) - on the new blockchain; bitcoin's price dropped about 10% from $2,944 to $2,632 in about forty minutes, according to bitcoin trading platform OKCoin. Source (Chinese)