Lyric Financial and TuneCore have partnered to offer loans for musicians; the two companies have developed TuneCore Direct Advance which provides financing from Lyric Financial to clients of TuneCore; through the partnership musicians can receive loans against future projected sales through a simplified application that integrates sales information from TuneCore's clients. Source
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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Marketplace lending loan servicer First Associates has announced the opening of a new operations center; the operations center is located in Baja California, Mexico with capacity for 1,000 seats; in comments regarding the announcement, First Associates CEO David Johnson said: "We couldn’t be more excited about our new Baja facility. We are able to deliver the same outstanding quality and service as our San Diego operations center, offer an economically advantageous option to our clients and provide significant opportunities in a developing business community that is an important part of the greater San Diego/Tijuana metro area." Source
Morningstar has assigned a MOR RV1 vendor ranking for First Associates; First Associates is an industry leading loan servicer for marketplace loans; Morningstar provides rankings of vendor service businesses based on a variety of business factors. Source
The Bitcoin Cash (BCC) blockchain has successfully split away from the legacy chain; the block was mined by the China-based mining pool Viabtc at 2:14 pm EDT; the first Bitcoin Cash block was 1.9 MB in size, holding 6,985 transactions - much larger than BTC's 1MB limit and approximately 3,000 transaction throughput. Source
South East Asia SME marketplace lender First Circle has announced new funding that will help it further develop its business in South East Asia; the firm was the first to begin lending to SMEs in South East Asia offering its loans in the Philippines; it provides loans for underserved businesses through use of a proprietary underwriting system; the firm says it will use the new investment funding to further develop its technology platform and lending business in the Philippines. Source
Wealthsimple is a Canadian firm backed by Montreal-based Power Financial and they are looking to launch their robo advisory solution to US clients soon; in accordance with US securities law, Wealthsimple received approval to operate as an investment advisor by the SEC in October 2016; there is no account minimums for their product and the first $10,000 invested will be fee free, anything above $10,000 will be subject to a management fee of 0.5%. Source
The accelerator is being launched by the founder of venture capital firm Boldstart Ventures, Ed Sim, and is the first accelerator dedicated to the Hyperledger Fabric blockchain; Sim tells CoinDesk: "We feel like there's a tremendous amount of corporates working and using Hyperledger Fabric, but there aren't as many startups working in that area. We'd like to bridge the gap."; the program, will last eight weeks helping companies to build with the open-source code and they will receive an undisclosed amount to help them along the way. Source
While writing in Crowdfund Insider Tim LI, CEO of Alchemy, discusses his...
First Internet Bancorp is about to complete their acquisition of First Colorado...
Green Apple Bank & Trust will serve central and western Massachusetts offering...