Pegasus Bank is the first bank to connect to the RTP network...
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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In recent years there have been several companies who are focused on what are called shared-equity contracts; these companies provide help to potential homebuyers by providing a portion of the down payment; some companies also offer the ability for current homeowners to sell equity in their home which is an alternative to a cash-out refinance; investors hope to participate in the upside as property values increase; some of the players in this space are Landed, Unison, Point and Patch Homes. Source
Here are what I consider to be the top 10 most important...
Here are the most read news stories from our daily newsletter today:...
Orchard provides insight on its Q4 2016 originations report which shows total originations of $2.1 billion; data for the Orchard report only includes originators on the platforms that have allowed their data to be shared publicly; from the report, Orchard shows an increase of 10% in originations from the previous quarter which is the first increase since Q4 2015; charge-offs appear to be trending slightly higher in 2014 and 2015 than in previous years which is likely a factor of the entrance of more subprime lenders and could also be the result of broadening credit models; the data also shows borrowing rates trending lower; a breakdown of interest rates by FICO and interest rates by loan size is also provided. Source
Bo Brustkern, CEO and Co-Founder of LendIt Fintech recently held banking and...
Approved has raised $1 million in pre-seed funding and announced its launch; Approved provides lenders with a solution for moving their lending operations online; the platform technology provides for increased transparency and faster processing times; the company will target established originators seeking to modernize their lending businesses. Source
Venmo continues to pay dividends for PayPal with the p2p payments app...
Invoice financing platform, BillFront, has secured $35 million in financing from a Series A funding round which included 4Finance, NIBC Bank and FinLeap; BillFront offers a working capital solution to media companies; uses advanced technology to evaluate a company's invoices for financing approval; the firm will use the new capital for company expansion and continued development of its technology. Source
While Alibaba’s Sesame Credit has increased access to loans in China the government recently told them to stop a national rollout of the program; John Gapper from the FT writes that there are three main issues behind social credit scores in China; technology companies have a more liberal attitude than banks when it comes to data; social credit scores seem to promote spending and more credit where as a traditional FICO score rewards a user for self control; the scores are proprietary to the companies who created them like Alibaba did with Sesame Credit. Source.