Leading marketplace lending platform, Prosper, has launched Credit Card Optimizer; the Credit Card Optimizer is an enhancement to the firm’s Prosper Daily app which was introduced in March 2016 as an aggregator for financial accounts; the Credit Card Optimizer will provide users with their credit card balances and payment notifications; also seeks to provide advice on credit card usage and includes features for managing credit cards by interest bearing balances. 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.
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- Peer-to-Peer Lender Crowdstacker Joins P2PFA
- Tandem Closes on Harrod’s Bank Purchase, Receives UK Banking License with Acquisition
- Cardlay Secures $5M USD in Funding
- Mambu banking engine powers Kreditech’s lending leap to India
- How Banking-as-a-Platform Propels Cross River Bank (Podcast)
- Rocket Internet CEO Says Ready to Pounce With Cash Pile
- Bitcoin Can’t Be Valued: NYU’s ‘Dean of Valuation’
The real time payments network Zelle has added new tech partners to their growing network; partners include ACI Worldwide, CGI, D3 Banking Technology and IBM; the new partners will help to accelerate technology, reduce risk and control costs for Zelle as their payments network grows over time. Source.
A new study by Commonbond shows that employers who offer student loan...
Testifying before the Senate Banking Committee, the heads of the SEC and CFTC said they are keeping an eye on the market but might need help from Congress; “We should all come together, the federal banking regulators, CFTC, the SEC — there are states involved as well — and have a coordinated plan for dealing with virtual currency trading markets,” SEC Chairman Jay Clayton as reported by American Banker; CFTC Chairman Christopher Giancarlo said the technology behind cryptocurrencies should be considered differently that the currencies themselves; they also noted they are talking with global counterparts to learn their views on the market. Source.
Some of the industry's top fintech banking strategists are leaving the corporate world to support fintech startups; three of Deutsche Bank's top executives have left the bank for broadened fintech advisory roles; "Everything from M&A advisory to research to money transfer is being disrupted," says Kerim Derhalli, former Deutsche Bank executive who now leads fintech startup Invstr; as the industry evolves it's likely the market will see more corporate fintech experts involved with new fintech ventures in the private markets. Source
LendIt China 2017 will include the Lang Di Fintech Conference and LendIt China Executive Tour; the Tour and Conference will take place from July 8-17; the China Executive Tour from July 8 to 15 will include networking activities and meetings in Hong Kong, Beijing and Shanghai; following the Tour, LendIt will host its second annual Lang Di Fintech Conference event in Shanghai from July 15 to 17; Lend Academy provides more details on each of the two events in their article. Source
UK based payments fintech TransferWise has upped their valuation to $3.5bn with...
UK online property sales platform, Zoopla, has acquired Hometrack; the acquisition is valued at approximately 120 million British pounds ($150.61 million); Hometrack provides property valuation and information and data on the property market; it will help to enhance the credibility of market information for Zoopla. Source
Wangdaizhijia has released two market reports providing insight and projections on P2P lending and crowdfunding in China; report finds 2,235 P2P platforms with total loans of $385 billion, including $181 billion in loans originated in January through August of 2016; predicting originations of $300 billion for online lending in 2016; nonlending crowdfunding market is smaller with 380 platforms as of August and crowdfunded investments of $1.57 billion for January to August of 2016. Source