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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.

News RoundupOnline LendingReal EstateUSA
·Mar. 9, 2017

LendingHome Announces New Online Mortgage Product for Consumers

LendingHome will now offer an online mortgage product for consumers; LendingHome was launched in 2014 and has been funding short-term bridge and rental loans for property investors; the platform has funded over $1 billion in loans; features of the product include: an automated process, real time rates, loan guidance and real estate agent connectivity.  Source

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Asia/PacNews RoundupOnline Lending
·Mar. 9, 2017

Zane Wang on China’s Credit Market and the Success of China Rapid Finance

Zane Wang concluded the LendIt USA keynote speeches with a presentation on China Rapid Finance's business growth in China; the firm's online lending business has grown steadily as a leading provider of online loans for consumers; Wang discussed China's credit market infrastructure and credit bureau development; Wang also noted the market opportunity from emerging middle-class mobile active consumers (EMMAs) which are a primary target market for China Rapid Finance; also of high importance in China is the use of big data; Wang reported that China Rapid Finance has been able to achieve its success by using predictive selection technology solutions derived from machine learning and big data algorithms.  Source

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FintechNews RoundupOnline Lending
·Mar. 9, 2017

Dan Schulman Talks with McKinsey about Inclusive Finance

PayPal CEO Dan Schulman is committed to helping support and promote financial inclusion by democratizing financial services and making banking activities more broadly available to everyone; the company is well positioned to support this initiative with more than six billion transactions occurring on its platform annually; Schulman provides some metrics around the benefits of digital transactions noting that the typical underserved population spends 10% of its disposable income on unnecessary fees and interest rates and with technology the cost of basic transactions can be lowered by as much as 80% to 90%.

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News RoundupOnline LendingUSA
·Mar. 9, 2017

Direct Mail Marketing a Focus for the Marcus Platform

Harit Talwar discussed the new Goldman Sachs online lending platform, Marcus, and six ways the company is striving for a competitive edge in the market at LendIt USA; one of the platform's top marketing initiatives is direct mail marketing which Talwar say consumers are highly responsive to; the firm is also not charging any fees, allowing for one deferred payment and staffing its call center with human agents.  Source

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FintechNews RoundupOnline LendingUSA
·Mar. 9, 2017

John Sculley on Investment Opportunities and Lantern Credit

Experienced fintech expert, John Sculley talked about investment opportunities he sees in the market at LendIt USA; former president of Pepsi and former CEO at Apple, Sculley says he is interested in transformative opportunities; in the fintech sector, Sculley recently joined the board of directors at Lantern Credit after becoming an investor; Lantern Credit is positioned to provide transformative technology with machine-learning services for financial institutions that allows for a broader assessment of a borrower's creditworthiness.  Source

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FintechNews RoundupOnline Lending
·Mar. 9, 2017

PitchIt and LendIt Industry Award Winners

PitchIt@LendIt and the LendIt industry awards were two highlights of the two day LendIt USA conference; Nova Credit was the PitchIt winner, presenting its business plan for the world's first cross-border credit reporting agency; on Tuesday evening LendIt also announced award winners in 18 categories at its first LendIt Industry Awards Show.  Source

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News RoundupOnline LendingReal EstateUSA
·Mar. 9, 2017

Rocket Mortgage Contributes $7bn in 2016 Loan Originations for Quicken Loans

"Rocket Mortgage has forever changed the way people think about getting a mortgage," said Jay Farner, CEO of Quicken Loans; for 2016 Quicken Loans has reported record originations of $96 billion with $7 billion contributed by Rocket Mortgage which has been originating loans for 11 months; consumers have reported high demand for the Rocket Mortgage product which provides a much simpler process for homeowners by digitally verifying income, credit, assets and property valuations.  Source

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News RoundupOnline LendingUSA
·Mar. 9, 2017

Kabbage Prices $525mn Securitization of Small Business Loans

Kabbage has announced the pricing of its first securitization of the year; the portfolio was valued at $525 million and includes small business loans; it is structured in four classes and has received ratings from Kroll Bond Rating Agency with the majority of the portfolio rated A; the deal is expected to close around March 20.  Source

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EuropeNews RoundupOnline Lending
·Mar. 10, 2017

Money&Co Announces Its IFISA

The business lending P2P platform will offer innovative finance individual savings accounts (IFISA) with three year fixed rate terms on A+ rated secured residential property loans targeting returns of 7%; the IFISA announcement follows the firm's February authorization from the UK's Financial Conduct Authority; the firm will offer the eighth UK IFISA and according to HMRC 30 firms have now received authorization for IFISAs.  Source

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News RoundupOnline LendingUSA
·Mar. 10, 2017

Sift Raises $1.5mn for Credit Card Auditing App

The Sift app was designed to increase transparency in credit card spending and provide credit card users with detailed information on fees and alternatives; the app has the capability to analyze 90% of all issued credit cards in the US for hidden benefits, price adjustment refunds, extended warranties, return protection and more; the firm has announced a $1.5 million fundraising round with the launch of the app and has plans to increase its users and expand the app's offerings.  Source

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