The P2P Global Investments Fund has assets under management of GBP833 million ($1.07 billion) and reported an increase of 0.55% in its March NAV; total NAV return for Q1 2017 was 1.18% and the Fund has decreased its discount to 15%; the Fund has been continuously evolving its strategy and is also reviewing its investment manager. Source
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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Citi is the world’s biggest credit card issuer and boasts over 28...
The Bounce Back Loan Scheme has helped to extend billions in capital...
Ernst & Young announced its annual Fintech Asia 100 list at the Singapore FinTech Festival; Next Money, Ernst & Young and Visa all contributed to the list; statistics from the list reported 26% of the individuals were female, 38 entrepreneurs, 41 CEOs, 15 different markets, India with the most members on the list at 18, and Singapore, Hong Kong and mainland China with 15. Source
The latest round for the fintech startup values the company above Betterment;...
India has become one of the fastest and most diverse fintech markets in the world; at LendIt USA 2017 we hosted a panel featuring leading India fintech firms; panelists talk about what makes the India market unique and what is the size of the opportunity right now; banks have helped to serve the top of the credit pyramid and micro lending has helped to serve the bottom of the credit pyramid, there is a big opportunity in serving the missing middle; panelists focused on how their lending models differ, the differences in the small business and consumer markets and how India has gone from a data scarce country to a data rich country; Aadhaar has also played a key role in helping to get more people and businesses into the financial system; other areas discussed include borrower acquisition channels and leveraging third party data sources. Source
The fund, which was set up as storage for excess cash from online spending, has now reached $165.6 billion in assets under management; this now exceeds the amount of JP Morgan's largest money market fund which is $150 billion; since the fund is so big it allows Ant Financial, Alibaba affiliate, to negotiate better rates with banks for capital; while many believe the likes of Google and Facebook could enter the market they have yet to do so. Source
It was a month ago that YieldStreet shared that they had partnered...
Georg Ludviksson, the head of Meniga, a digital bank that was started in Finland back in 2009, says that banks are at risk of losing the top spot among their customer base; tech giants like Google, Facebook and Alibaba are placing themselves between banks, and their customers are no longer seeing their traditional bank as the go to place for financial services; Georg Ludviksson also points out that the coming PSD2 regulation will shift the balance of power from banks to the customer and that the regulation has the potential to transform banking in Europe. Source
Lots of crypto stories again this week but probably the biggest story,...