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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 Lending
·Dec. 13, 2016

Ally Bank Announces New Online Mortgage Offering

Ally Bank has expanded its banking products to include mortgages and will offer the loans through an online service called Ally Home; the online service offering seeks to meet heightened expectations and shifting market priorities for digital, tech-driven customer experiences; with Ally Home, borrowers will have the option to manage their communication through email and their documentation online through any device; the bank also says it has partnered with mortgage servicing specialist, LenderLive, to provide fast and efficient service.  Source

 

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FintechNews RoundupUSA
·Feb. 5, 2018

Ally Bank Looks to Use Augmented Reality During Super Bowl

Ally Bank is launching an augmented reality game during the Super Bowl to help customers visualize and think about savings; Ally Big Save can be used during Super Bowl commercials to drag bills in a digital piggy bank and they are granted points during the game; the goal is to make people have fun but think about saving money; “While the game is a lot of fun, it’s also a way for Ally to help consumers focus on saving for something bigger to make a more meaningful impact on what matters most to them and those they care about,” said Andrea Brimmer, Ally’s chief marketing and public relations officer, to TearSheet; Ally is not the first bank to experiment with augmented or virtual reality, other banks have started to use the technology as means of innovative marketing to engage customers. Source.

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News RoundupOnline LendingUSA
·Apr. 3, 2017

Ally Launches Online Auto Financing Marketplace

Seeking to be more involved in auto financing, the firm has launched Clearlane; the platform has been developed from the firm's acquisition of BlueYield; the integration and enhancement of the acquired business has resulted in a simplified customer experience and broad range of offerings; the platform includes over a dozen finance providers offering consumers auto financing and auto loan refinancing options with various opportunities identified for expansion.  Source

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FintechNews RoundupUSA
·Mar. 25, 2020

Ally Pumps Money into Carvana Loans

Ally has significantly increased their current loan purchase program with Carvana, a...
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FintechNews RoundupUSA
·Dec. 14, 2017

Almost 5 Million Borrowers in Default on Student Loans

About 4.6 million people are currently in default on student loans which is more than double the number from 4 years ago; the number grew by almost 275,000 borrowers in the third quarter alone; even as the economy grows and there is a multitude of options available to borrowers more people fall behind. Source.

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News RoundupOnline LendingReal EstateUSA
·Mar. 8, 2017

AlphaFlow Launches AlphaFlow Managed Portfolios

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

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FintechNews Roundup
·Sep. 20, 2017

AlphaFlow Raises $4.1 Million Seed Round

Real estate alternative investment platform AlphaFlow raised $4.1mn led by Resolute Ventures and Point72 Ventures; they plan to use the funds to scale partnerships with lenders and investors, accredited individual investors and investment managers; they also plan to hire more individuals for the data science and engineering division and potentially look at more asset classes int the future. Source.

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FintechNews Roundup
·Mar. 6, 2017

AlphaPoint and Scotiabank Announce Blockchain Trial

Blockchain technology firm AlphaPoint has partnered with Scotiabank for a successful proof of blockchain technology; the test showed significant advantages for use of blockchain with FIXML trading communication; leading features of AlphaPoint's blockchain solution for financial trading include easily integrated communication with legacy systems and throughput of thousands of events per second with sub-second confirmation times.  Source

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News RoundupOnline LendingUSA
·Mar. 6, 2017

Alternative Credit Data Provider VerumView Launches Beta Product

Alternative credit data company VerumView has developed a product primarily focused on capturing data surrounding an end-user's email; it's built on an API-based know your customer service (KYC) and helps to provide credit decisions on thin file borrowers; the system can service the following: identity verification, fraud detection, KYC, anti-money laundering, TF prevention, loan and insurance underwriting, credit and affordability scoring, competitive analysis and targeted marketing.  Source

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News RoundupOnline LendingUSA
·Mar. 3, 2017

Alternative Credit Lender Upstart Raises $32.5mn

Upstart's Dave Girourad talks with TechCrunch about the company's new fundraising round which is adding new capital of $32.5 million; the new capital brings total funding to $85 million and this round's investors included Rakuten, Third Point Ventures, Khosla Ventures and First Round Capital; the fundraising will help the firm launch a new software as a service product called Powered by Upstart, an extension of its proprietary credit underwriting platform which utilizes machine learning and modern data science; Upstart will be releasing the new product at LendIt USA 2017.  Source

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