A new report by BNY Mellon and the UN point to flaws in design and marketing that make financial products less available to women than men; the report finds financial firms are missing out on $7bn in credit card revenue, $14bn in personal loans and $4bn in housing; TearSheet sat down with a former financial services marketer in their latest Confessions series to talk about these issues; the interview covers the misconceptions in marketing to women customers, why women are still viewed as a niche customer when they are the majority and that banks don’t really understand their customers. Source.
News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
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A blockchain trial has been completed with leading UK banks Barclays and...
The native asset of NEO, formerly known as AntShares, has risen by more than 12,000% in the last seven months, according to figures from Coin Market Cap; NEO comes mostly with similar capabilities vs ethereum, just that NEO's smart contract platform NEO 2.0 supports traditional programming language while ethereum has its own programming language, Solidity; this edge will be crucial to making it a better option over ethereum for running initial coin offerings (ICOs) especially for upcoming Chinese projects. Source
According to reporting in CoinDesk last month money manager VanEck filed to create the VanEck Vectors Bitcoin Strategy ETF and last week that effort was given bad news by the SEC; the SEC sent a letter to VanEck stating that they cannot review the offering because "the underlying instruments in which the fund intends to primarily invest are not yet available." Source.
Quint owns four companies in the consumer credit sector including Monevo, Monevo Data Services, CreditAngel and MoneyGuru; according to the announcement: "The Queen's Award for Enterprise is widely recognized as being the UK's highest accolade for business success. The annual awards recognize British firms that have excelled in exporting, social or environmental good work, or innovation." Source
CAN Capital has deep roots in the credit industry, evolving from one of the industry's leading merchant cash advance services in the 90s; as AdvanceMe, its direct competition with AmeriMerchant was influential in the merchant cash advance industry with AmeriMerchant winning a patent case that invalidated AdvanceMe's patent on merchant cash advance technology, also opening the market to increased entrants in the merchant cash advance business; both companies have now simultaneously reached new junctures; CAN Capital suspended funding in November 2016 and AmeriMerchant, now Capify, has been partially acquired by Strategic Funding Source; Strategic Funding Source has acquired the US operations of Capify in one of 2017's first acquisitions; international businesses of Capify were not acquired and will continue to be led by Capify executives. Source
OnDeck is one of the market's leading small business online lenders and they have taken an active role in industry self-regulation specifically around improved transparency for business borrowers; in their featured blog post they discuss the market's landscape and their lending technology partnership integration efforts; they also provide details on their involvement in developing industry best practices through development of the Association for Enterprise Opportunity and the Innovation Lending Platform Association; this involvement has resulted in the creation of the SMART Box which they also detail in their blog post. Sponsored Blog Post
You have to acknowledge the star quality of JPMorgan Chase chairman and CEO Jamie Dimon after reviewing the investor day details yesterday.
The latest edition of Credit Union Tracker, a collaboration between PYMNTS and...
DecisionHawk seeks to provide a service for advising and educating small businesses on market financing options; the firm is led by entrepreneurs experienced in business owner consulting; they have released DecisionHawk, a software solution offering problem solving, education and collaboration; driven by big data analytics DecisionHawk can be used for a range of business decisions including: debt capital financing, equity capital financing, business insurance and business referrals. Source