After receiving FCA authorization earlier this month, ThinCats provides some insight on plans for its IFISA; Stewart Cazier, head of retail for ThinCats, says the company is planning for a 2017 release of its IFISA; Cazier also says the firm is planning a staggered rollout with registered investors receiving first priority. 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.
During the week I share the latest marketplace lending and fintech news...
Meet The Woman Turning The Payday Loan Industry On Its Head One...
Alibaba has reportedly increased its bid for payments company MoneyGram; Alibaba initially announced the acquisition in January which will broaden its payments network; new terms of the deal increase the offer price to $18 per share from $13.25 and have been approved by the board of directors; the increased deal value follows a competing bid from Euronet Worldwide. Source
Ally Financial Teams Up With Better.com to Create End-to-End Digital Mortgage Experience...
FastPay and Tennenbaum Capital partnered to provide an $80 million credit facility to leading global converged TV and video software provider Videology; Scott Ferber of Videology explains: "The facility provides the additional liquidity we need to expand our business further and faster — so important in such a quick moving, high growth space. We are fortunate to be working with this great team."; having FastPay and Tennenbaum partner to provide the financing allowed for the facility to occur with unprecedented speed and efficiency. Source
A panel of finance executives discussed UK customer banking data at the UK Treasury's International Fintech conference in London; Antony Jenkins said financial data could potentially be controlled by varying companies with both alternative technology providers and financial institutions having different advantages; HSBC's Douglas Flint said a debate on data ownership and maintenance is still open for discussion. Source
- OnDeck Collaborates with Ingo Money and Visa to enable real-time Loan Funding to Small Businesses
- The 11 most valuable VC-backed fintech companies in the US
- German app-only bank N26 gears up for UK launch as it recruits country manager
- LedgerX Trades $1 Million in Bitcoin Derivatives in First Week
- Fincera Reports $1 Billion in Loans for Q2 2017
- Mastercard Takes Blockchain Mainstream with API
- Online Small Business Lending Provides Benefits to Small Business Owners, Finds New Survey
- CoinList spins out of AngelList
OfferPad is a real estate platform to help homeowners sell their homes; investors include private funds managed by LL Funds, LLC and an investment management firm in Philadelphia; company plans to expand to additional markets; similar to competitor Opendoor, OfferPad buys homes from homeowners; current markets include Phoenix, Las Vegas, Salt Lake City, Tampa and Orlando; the company has 100 employees and will launch in Los Angeles soon. Source
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