Visa/Plaid: check mark A look inside Visa’s shareholder presentation for the $5.3B...
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.
To join our newsletter community please subscribe here.
Challenger bank Masthaven receives £60m investment Postal Banking Is Back — On...
WeLab is one of eight virtual banks that have received banking licenses...
After a 17 year career at Goldman Sachs, Tom Jessop, a senior technology executive is joining Chain Inc.; Chain was founded in 2014 and is based in San Francisco; Jessop's new role will be as president and he plans to work on the firm's partnerships; Chain will be opening a New York Office; Chain licenses its own version of blockchain technology that is more secure; it was reported last year the company was working with Visa on a B2B payments solution; company has raised $40 million from Visa, Capital One, Nasdaq and Citi Ventures; Khosla and Thrive Capital are also investors. Source
Nick Ogden has launched ClearBank after three years of development on the multi-million-pound project; the bank is marketed as a "bank for banks," targeting fintech startups, credit unions, building societies and other challenger banks; it will focus on payment processing, which it plans to offer at cheaper and faster rates than competitors, and also an "off the shelf core banking service." Source
Fig is an alternative to the predatory loans that are often offered...
The deal help to increase their efforts to bring credit scoring and ID verification to emerging markets; “We’re thrilled to join forces with Lenddo and create an undisputed, global category leader in alternative data for credit decisioning,” said Jared Miller, CEO of EFL to Bankless Times; they will work with banks, telcos, retailers, microfinance institutions and insurers to help bring credit to people with little or no credit history. Source.
Microsoft has partnered with AMIS and the Industrial Technology Research Institute of Taiwan to form Asia's first blockchain consortium; the partnership will build on the success of Microsoft's Blockchain-as-a-Service (BaaS) on Microsoft Azure which it announced in April; the consortium will focus on blockchain solutions that provide increased efficiency and cost savings for companies in Taiwan. Source
Madden v. Midland has been proceeding since 2015; Judge Cathy Seibal of the US District Court for the Southern District of New York issued a decision in the case on February 27; Manatt, Phelps & Phillips, LLP provides their insight on the court's decision; the central focus of the case is on the inconsistency between the issuing lender (New York) and Midland Funding, the debt collector, (Delaware); the judge ruled in favor of the borrower in default setting a precedent for better alignment between rates of issuing lenders and the loan's affiliated debt collectors. Source
A new study from Juniper Research notes that digital banking users will...