Kristin Lemkau, chief marketing officer at JPMorgan, says the bank has limited its web ads to 5,000 from 400,000 in an effort to improve the quality of ad displays; marketers have taken a programmatic advertising approach which features ads across the web based on browsing habits versus investment in individual sites; the new limitations for JPMorgan use a more customized white listing approach and are also the result of fewer ads on YouTube following recent issues. Source
News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
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Maples Fund Services has announced it will extend its fund administration services to include marketplace lending; seeks to capitalize on the growing number of funds emerging in the space; firm has made significant investment in technology to provide a leading market service which will include reconciliation, loan-level record keeping, third-party valuations, and risk and performance reports. Source
Ripio, previously known as BitPagos, has secured $1.9 million in funding for expansion in South America; the firm's Series A funding investors included Huiyin Blockchain Venture, Digital Currency Group, Boost VC and Draper VC; the company was founded in Buenos Aires, Argentina and will use the funding for expansion to Brazil and Mexico; currently the firm offers bitcoin and digital wallet services; it targets underserved banking consumers through its wallet app which also aggregates data for microloan approvals. Source
IW Capital has surveyed 1,000 investors who have between GBP10,000 ($12,812) and over GBP250,000 ($320,300) worth of investments; the report shows UK investors are willing to take on greater risk in 2017; 44% of investors think Brexit will have a positive impact on their investment strategy; many investors see investment opportunity in private equity and UK investors also reported they will be looking more to tax efficient investing. Source
Mark Cuban says banks are not acting quickly enough to extend credit...
Rocket Internet is looking to make an investment push into fintech and...
In collaboration with Energy 4 Impact, UKAid and the CME Group Foundation, the Cambridge Center for Alternative Finance has released a study on crowdfunding and P2P lending in Africa and the Middle East; Lend Academy provides details of the report in their article; covers 46 countries in Africa and 12 countries in the Middle East, featuring data on 70 alternative platforms. Source
Renren, a publicly listed company in the US operates a social media platform in China but has also made several fintech investments; investments include LendingHome, Fundrise, Motif Investing as well as a significant stake in SoFi; a year ago Renren announced plans to spin off its minority venture stakes into a new subsidiary; under the plan retail investors would receive a cash payout, losing their exposure to SoFi; Ryan Roberts, director at MCM Partners stated in the Forbes article, “It certainly looks like Joe Chen is trying to strip the best assets from Renren, particularly SoFi. SoFi is basically the entire value of the company right now, the core business has really deteriorated.” Source
Innovate Finance has announced eight industry leaders for a new ambassador program; Innovate Finance is one of the UK's most active trade associations for fintech; it's led by CEO Lawrence Wintermeyer; some of the program's industry leading ambassadors include Anju Patwardhan from the CreditEase FinTech Fund and Mike Sigal from 500 Startups; the ambassadors will be actively involved in the organization's upcoming Global Summit on April 10 and 11 in London. Source