Harmoney is New Zealand’s first and largest p2p lender, launching in 2014;...
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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Harmoney has shared that they are working with DataRobot to improve credit assessments; DataRobot automates data science workflow and allows users to customize predictive models; Harmoney’s models have been trained on data from over 300,000 loan applications; previously it took them 12 to 16 weeks to deploy models, now it takes just minutes. Source
A new study has been released by two researchers at the Harvard Kennedy School of Government; it reports on the evolution of online lending and outlines factors for sustainability; suggestions include harmonizing state lending laws and increasing state usury caps; the entire report can be downloaded from this link. Source
American Banker shares several blockchain projects underway in financial services; Includes JPMorgan Chase’s open source ledger Quoram and initiatives from Northern Trust, ING and the DTCC; while there is a lot of interest in blockchain technology many initiatives aren’t in production; various perspectives are shared in the piece as to why adoption hasn’t taken off. Source
Raleigh-based HCG has raised $5.4 million from 12 investors for a fintech fund; firm specializes in digital finance investments and has previously invested in online lenders including Lending Club; firm is led by Chief Executive Officer Hadi Habal and Chief Investment Officer Jose Penabad. Source
Hexindai sees credit market opportunity in China worth 10 trillion RMB ($1.46 trillion); provides insight on the market in their featured blog post; with high net worth clients primarily served by traditional channels the firm is targeting the country's underserved population; says new and evolving technologies will be a factor helping emerging service platforms like P2P online lending gain market share. Sponsored Blog Post
Bank of America CEO Brian Moynihan says that the big bank point of view of Dodd-Frank is that the law is fine; he explained that none of the big banks are trying to touch the law and it has made the financial system safer; small banks have been pushing to roll back some of the regulations associated with Dodd-Frank because they feel it is too burdensome; the interview at the Economic Club of Washington also touches on fintech, blockchain and other bank related issues. Source.
Harit Talwar, the head of Marcus since joining Goldman Sachs in 2015,...
Joseph Otting, Comptroller of the Currency, said he believed standards should be...
David Rutter is in charge of R3 and shares his perspective on...