The Chairman of the Commodity Futures Trading Commission (CFTC), J. Christopher Giancarlo, told government technology executives at an event that blockchain technology is in our national interest; Coindesk reports that the chairman said, "Distributed ledger and blockchain technologies ... are going to challenge orthodoxies that are foundational to our financial infrastructure."; he also discussed agencies moving beyond just talk of implementation but to actually try to use the tech within their agency's. Source.
News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.
Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.
To join our newsletter community please subscribe here.
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
Kabbage is now accepting applications from small businesses under the Paycheck Protection...
During the week I share the latest marketplace lending news on Twitter...
PayPal saw payment volumes grow by 29 percent and they added 8.7 million new accounts in Q4 2017; the recent announcement that eBay was replacing PayPal with Adyen for processing overshadowed what was another strong quarter by the company; while the Adyen news was not positive for PayPal it could be seen as that in the long term as the company has been diversifying more in recent years; PayPal has seen growth through more partnerships with card networks and banks globally. Source.
The New York Times reports that the parent company of the New...
Roofstock has hired Jason Altieri as its chief legal and compliance officer; Altieri served as general counsel at Lending Club until October and still remains an advisor for the firm; in his new role he will lead the legal and compliance efforts for the emerging real estate company; the firm matches sellers of single-family rental homes with interested investors and facilitates all of the transactions through a digital marketplace. Source
Layoffs are increasing all across the country and Silicon Valley is not...
As banks look to reassess how to utilize their branch space, TearSheet took a close look at the Citizens Bank branch overhaul; the bank is looking to make the branch into digitally connected community centers; they are looking to reduce their branch footprint by 50 percent over the next decade and look to utilize the spaces they have better; less teller lines, more private meetings rooms and digital tools to help engage the different types of customers. Source.
PayPal has announced new capabilities that allow for international person-to-person payments in 30 countries with Siri; PayPal's Siri iPhone users can direct international payments to individuals using voice activated prompts; the solution evolved from Apple's iOS 10 operating system; the new offering is part of a focus by PayPal on mobile, a category that reported a 56% growth rate in the third quarter of 2016. Source