Fannie Mae is testing a new program which would have appraisers assess...
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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The platform aims to provide a better process for both lenders and consumers; Fannie Mae is partnering with various fintechs including Yodlee, FormFree, and Plaid to help build out the platform’s features. Source
Venmo users have started to use the payments app to show their...
Fast Company looks forward to 2017 after a rough 2016 for fintechs; highlighted in their five fintechs to watch in 2017 is real estate technology firm Cadre which has closed more than $500 million in inventory; wealth management company Stash also made the top five; the company has gathered over 300,000 users and recently raised $25 million from a Series B funding round; Cross River Bank, a community bank which has close ties to the marketplace lending industry, also made the list; the company provides a banking infrastructure to many fintech firms and recently raised $28 million in new capital. Source
According to new data from the Federal Reserve mobile payments have seen a big growth among consumers but fraud has also risen; the shorter clearing period looks to have opened banks on the Zelle network to more potential for fraudulent transactions; Zelle has been using multi-layer and multi-factor authentication during the enrollment process; as banks look to innovate to suit their customer needs they are also looking at newer ways to protect themselves against threats that are evolving just as quick. Source.
FastPay and Tennenbaum Capital partnered to provide an $80 million credit facility to leading global converged TV and video software provider Videology; Scott Ferber of Videology explains: "The facility provides the additional liquidity we need to expand our business further and faster — so important in such a quick moving, high growth space. We are fortunate to be working with this great team."; having FastPay and Tennenbaum partner to provide the financing allowed for the facility to occur with unprecedented speed and efficiency. Source
FastPay is an online lender and credit provider for digital businesses in the US and UK; the company has partnered with Hitachi Capital America Corp. for a new FastPay for Enterprise product; the new product will provide working capital loans of $10 million or more to digital media enterprises. Source
The UK based Financial Conduct Authority is proposing new rules to simplify...
The long awaited new rules for P2P lending in the UK are...
The FCA regulates approximately 56,000 firms in the UK; its 2017/2018 business plan outlines three main objectives: 1) protect consumers 2) enhance integrity and 3) promote competition; the annual business plans shows the FCA's commitment to foster fintech innovation but notes that the sector presents some of the broadest risks; its business plan states it will continue to focus on fintech initiatives such as Project Innovate and sandbox development; the FCA also plans to actively engage with international regulators for growth of the sector as well; the entire business plan can be found here. Source