Through Autonomous NEXT the research firm will provide a suite of products and services with in-depth analysis of banking innovation and fintech; Autonomous Deputy CEO Erick Davis says, "We discovered untapped demand for insight on financial technology and innovation, and are excited to bring this to market."; focus areas will include robo advisors, blockchain, neobanks, insurtech, chatbots and artificial intelligence; in its first available report the firm provides metrics on fintech growth by financial services category. 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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StreetShares provides loans for veteran-owned small businesses; following the California bizWin™ and VetBizWin™ initiatives, StreetShares has partnered with the Northern California Financial Development Corporation (Nor-Cal FDC) which will expand its business lending solutions with contract financing; Nor-Cal FDC is a licensed Financial Development Corporation and supports small business capital solutions for more than 3.6 million small businesses throughout California including a focus on companies in the San Francisco Bay Area and Silicon Valley. Source
StackSource has launched an online lending platform for commercial real estate; the company provides a marketplace for connecting owners and developers with banks and non-bank lenders for credit financing; the multi-lending platform connects borrowers with lenders through the StackSource proprietary lender database; StackSource was developed from the TechStar accelerator program and was founded by Tim Milazzo. Source
Loan stacking has reportedly been influencing an increase in default rates for marketplace lenders; TransUnion has reported data on delinquency rates and online fraud; firm announced an expansion of its Fraud Prevention Exchange at LendIt USA to help mitigate online lending fraud and specifically loan stacking. Source
AlphaFlow has announced the launch of AlphaFlow Managed Portfolios; created by Ray Sturm, co-founder of RealtyShares, AlphaFlow has been managing real estate investments that allow investors to invest in loans across multiple real estate crowdfunding platforms since its launch in 2015; the introduction of the AlphaFlow Managed Portfolios is an effort to better meet the needs and demands of the firm’s investors; the new platform will provide investors with a real estate portfolio of 75 to 100 real estate loans; the portfolio will be driven by AlphaFlow Advanced Analytics and targets returns of 8% to 10% with a 1% fee on assets under management. Source
LendIt USA 2017 featured keynote speakers discussing all aspects of the online lending industry and new developments in fintech overall; videos on the keynote presentations from the event are now available; a list of the event’s keynote speakers can also be found here. Source
Experian is the most recent company to join the Marketplace Lending Association; credit reporting agency Experian has become actively integrated in the marketplace lending ecosystem and is committed to supporting transparent and responsible financial innovation for the marketplace lending industry; Experian's expertise in data and analytics will greatly support the goals of the Marketplace Lending Association. Source
Featured keynote speaker Richard Cordray from the US Consumer Financial Protection Bureau (CFPB) discussed the Bureau's fintech initiatives at LendIt USA; a video of the presentation can be found here; in prepared remarks Cordray discussed the Bureau's focus on both providers and consumers with three areas of special interest including: consumer-friendly innovations, consumers' control over their personal financial data and the use of alternative sources of data for underwriting loans; recent fintech innovation activity from the CFPB has primarily been centered around its Project Catalyst; on February 16 the CFPB also issued a request for information on the uses of alternative credit data with an open comment period until May 19. Source
Data aggregators of all types are gaining more traction and investment; Finicity is one example with investment from Experian; Nick Thomas of Finicity characterizes the credit-decisioning space as a new frontier for data aggregation; with this new frontier available for investment, the industry is likely to see success in integrating new sources of data and faster technology solutions for credit modeling and approvals. Source
IBM and Maersk have completed a successful blockchain solution project for the container supply chain industry; plan to expand the solution to 10 million of the 70 million containers shipped annually; solution could provide cost savings for ship carriers of $38 billion per year. Source