In an effort to streamline SMB lending, alternative small business lender Fundation...
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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- How can today’s generation of lenders fight global financial crime?
- Shinnecock Partners Publishes Definitive “How to” for Private Investors on Direct Lending to Factoring and Merchant Cash Advance Companies for High Yields
- tZero Has Acquired VerifyInvestor for $12 Million in Cash
- Tales of failed peer-to-peer lenders
- Chinese Fintech Wecash Raises $160 Million During Series D Funding Round Led By ORIX Asia Capital & SEA Group
- How tech is transforming the real estate industry
- Kore.ai Unveils New Bots Platform, Adds Former Citi CIO as Strategic Advisor
- A Dialogue with Peter Renton: Cryptocurrency and Beyond
- ‘Fintech’ Firms Take Bigger Bite of Manhattan’s Office Market
- How XRP Fits Into Ripple's Payments Products Explained
- Wealthfront’s mutual fund spurs industry critiques
- Credit-Card Losses Surge at Small Banks
Income Share Agreements (ISAs) are slowly growing in popularity as an alternative...
Orchard has updated its US Consumer Online Loan Index; constituents providing data for the Index have increased to five; new methodologies pertaining to estimates and delinquencies have also been incorporated to improve the Index’s reporting; the updates increase the credibility of the Index as a performance benchmark for the marketplace lending industry; Bill Ullman, Orchard’s chief commercial officer, provides some additional details on the Index’s updates and an analysis of its performance in a blog post. Source
Back in 2010 the management of Prosper took a gamble. They decided...
The current market perspective is that banks aren't lending because of regulatory constraints; President Donald Trump even says that many of his friends in the business world would like to borrow money but can't because of regulatory restrictions; while market statistics show that banks are lending and have been doing so at an increasingly higher rate, it is true that there are constraints; however insight from the New York Times suggests that efforts to deregulate could be futile and that with lower capital requirements banks would instead prefer to use capital for increasing dividends and stock buybacks. Source
By Tamsen Butler Social lending sites can help keep friendships and family...
LendFoundry has enhanced its lending operating system (LOS); the LOS can now support loan processing and management for point of sale, auto loans, working capital loans and unsecured consumer loans; it also offers one of the industry's best suite of APIs for connecting with industry fintech companies including Clarity Services, Whitepages Pro, FEDChex, Yodlee, Towerdata, Twilio, Plaid, LOB and more; the platform has significantly expanded its API offerings to allow for increased integration across the industry; Brent Fausett, senior vice president and chief commercial officer at LendFoundry says: "Our product development team has built 50+ pre-configured APIs. We will continue on our vision and keep adding new APIs as we believe that a pre-integrated platform places lenders miles ahead of the competition." Source
The Chairman of the Commodity Futures Trading Commission (CFTC), J. Christopher Giancarlo, told government technology executives at an event that blockchain technology is in our national interest; Coindesk reports that the chairman said, "Distributed ledger and blockchain technologies ... are going to challenge orthodoxies that are foundational to our financial infrastructure."; he also discussed agencies moving beyond just talk of implementation but to actually try to use the tech within their agency's. Source.
Chicago-based Westbon has launched an auto and consumer loan platform for international students in the US with limited or no credit history; Hao Liu, co-founder of the company, says, "Our mission is not only to provide them with convenient financing options at affordable rate, but also to help them build credit history at an early stage."; the company says it looks beyond a traditional credit score, they look at the borrower's financial and academic status as well; the auto product will be available in 23 states and the consumer products in eight states. Source