Small banks have faced a lot of headwinds in recent years with...
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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New regulations for peer-to-peer lending in Thailand are scheduled for approval by the end of the year; the new regulations will be formulated from an open comment, public hearing which ended on October 15; a licensing process is also expected to follow in 2017. Source
Based on market capitalization Ant Financial is the 10th largest banking group...
"Rocket Mortgage has forever changed the way people think about getting a mortgage," said Jay Farner, CEO of Quicken Loans; for 2016 Quicken Loans has reported record originations of $96 billion with $7 billion contributed by Rocket Mortgage which has been originating loans for 11 months; consumers have reported high demand for the Rocket Mortgage product which provides a much simpler process for homeowners by digitally verifying income, credit, assets and property valuations. Source
The House Financial Services Committee will have hearings next month to address...
Robo advice platforms have commoditized personal investing providing greater automation at lower price points; however AltFi reports that despite increasing innovation in the market, investors are still demanding a human element; specifically, investors are favoring hybrid advice with a survey from Accenture showing two-thirds of high income investors wanting the combined services of robots and humans; mid-scale wealth managers are well positioned to meet this demand and firms such as Charles Schwab and Betterment have already incorporated hybrid services to support customers. Source
Digital only banks Monzo, Starling Bank and Monese have all see some...
TechCrunch reports on metrics provided by N26; the digital bank currently boasts...
Brett King developed his company Moven as a better solution to banking; after gaining only 60,000 customers since the digital bank's launch, he is now selling the software to banks for use in mobile apps; Moven and many other digital bank competitors are losing some of their appeal in the startup space as the Trump administration seeks to ease banking regulations that resulted in less risk taking from banks and greater opportunities for startups; as the landscape changes under the new presidential administration, it's likely that the latitude and interest from banks in partnering with startups will increase. Source
A new report estimates that around 22% of fintech jobs in the...