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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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UK based online real estate lender LendInvest has securitized $328mn of UK...
Senmiao Technology plans to raise $14 million in a US IPO; the company was founded in 2014 and plans to list on the Nasdaq with symbol AIHS; if the company has a successful IPO, they may be worth around $100 million. Source
This year's top financial professionals are from a broad range of businesses; Matt Humphrey, CEO of LendingHome which provides real estate loans for homebuyers and fix and flip investors made the list; LendingHome has originated $1 billion in real estate loans; also on the list is Eugene Marinelli, chief technology officer of mortgage tech company, Blend. Source
Walmart and Green Dot first partnered in 2006 with the Walmart Moneycard,...
Victory Park Capital (VPC) Investments says it is shifting investments from peer-to-peer loans to balance sheet investments after losses in October triggered significant writedowns and caused a revenue return of -1.25%; in October the return was primarily caused by a substantial capital loss of -203 basis points from "certain marketplace loans" which it did not disclose and also from losses in a securitized portfolio of Avant loans; according to Cormac Leech, "the marketplace lending portfolio is not quite seasoned, while the balance sheet side of investments is doing really well"; this performance has caused the change in focus to balance sheet investments. Source
Red envelope gifting is a Chinese New Year tradition that has become digitized as a result of advanced payment processing; the January 27 weekend marks the beginning of the Chinese New Year and the country is expected to transact over 100 billion digital envelopes, an increase from 32 billion in 2015 which reported a 1,000% increase from the prior year; payment processors integrated with social media have increasingly been gaining market share and supporting digital transaction growth; bitcoin transactions are also expected to increase for the Chinese New Year. Source
Banks have spent billions in the last few years on speeding up...
According to Capgemini and Efma’s World FinTech Report 2020 six percent of...