Fintech app Fresh EBT provides food stamp recipients the ability to check...
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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80 percent of UK consumers were unaware of the term fintech; a new study by the Telegraph shows that fintech knowledge and adoption is surprisingly low; even larger name brands like Funding Circle, Atom Bank and Nutmeg were not known to most surveyed consumers; the results point to an uphill climb by industry participants. Source.
Fintech Breakthrough is a Los Angeles-based organization that seeks to recognize successful fintech companies; their 2017 awards have honored fintech companies in a wide range of categories; platforms awarded for their excellence in lending include Sindeo, LendingPoint, The Money Source, PeerStreet and Ascentium Capital; all of the award winners can be found here. Source
A blog post from Frank Rotman of QED Investors says fintech companies should keep in mind growth strategies from the previous generation; outlines three important phases for business growth, 1) testing 2) scaling and 3) cost efficiency; says growing exponentially in the early phases is not always the best approach and that building a lending business with land grab as a justification for growth is not necessarily the best strategy. Source
At the Money20/20 show in Amsterdam several fintech company CEOs expressed confidence...
It’s no surprise that the recent court decision which allowed New York’s...
Thomas Curry spent most of his speech at LendIt USA refuting arguments against the Office of the Comptroller of the Currency's (OCC) fintech charter and the agency's authority for establishing the charter however controversial factors affecting the charter's implementation were the primary topic for discussion on a LendIt USA panel; while panelists generally agreed that more regulatory clarity is needed for financial innovation overall, panelists were divided on the need for a fintech charter to regulate fintech firms; panelists reported that fintech chartering could potentially promote partnerships with banks through more standardized regulation however it seems the fintech charter is far from ready to match the broad ranging fintech variants for which it's trying to target. Source
Financial inclusion is a factor considered by the Office of the Comptroller of the Currency (OCC) in all of its banking charters; American Banker discusses how the fintech charter's financial inclusion provisions compare to the Community Reinvestment Act requirements for banks; the new fintech charter would require fintechs to detail how they plan to promote financial inclusion with accountability from the OCC for those goals and more direct OCC enforcement actions for fintech companies. Source
One of the primary reasons to not switch your bank is all...
Several CEOs have expressed their desire to help get government stimulus money...