Here are the most read news stories from our daily newsletter today:...
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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Amazon is fast becoming the financial services company of the future; they now have their hands in payments, cash, small business lending, consumer credit and more; partnerships with companies like USAA and Capital One who use Amazon's Alexa digital assistant have emerged; this all shows the threat Amazon poses to traditional banking giants, though there has been no indication they want to become a bank themselves; JPMorgan Chase has started using Amazon's cloud-based AWS service to build a hybrid private-public cloud strategy; AWS sales increased 42% on a year-over-year basis to $4.1 billion for the second quarter; banks are starting to become technology firms and technology firms are helping to change the way banks operate. Source
In the last 5 years HarborOne Bancorp has converted from a credit...
It has been three years since the UK voted to leave the...
IW Capital has surveyed 1,000 investors who have between GBP10,000 ($12,812) and over GBP250,000 ($320,300) worth of investments; the report shows UK investors are willing to take on greater risk in 2017; 44% of investors think Brexit will have a positive impact on their investment strategy; many investors see investment opportunity in private equity and UK investors also reported they will be looking more to tax efficient investing. Source
In his LendIt Fintech USA 2019 keynote, CEO and Co-founder of Affirm,...
Tuesday's 3.2% GDP growth rate report is an indication of expanding economic growth in the US which increases the probability of a rate hike from the Federal Reserve in December; a continued positive trend in economic growth is also likely to lead to five interest rate increases through 2018; consumer spending appears to be the leading catalyst for current economic growth and the source cautions that it could lead to problems for the marketplace lending credit market; consumer spending has been driven by increased credit balances but as rates rise, risks from these borrowers are also likely to increase which could affect platform defaults and securitization portfolios with the greatest risks in unsecured loans. Source
Alfa Finance Group has launched a new P2P lender in Latvia called DoFinance; the platform is available in all EU and EEA countries and will focus on consumer loans; it has over 150,000 registered clients and has originated over EUR16 million ($17 million) in loans. Source
Making fintech news this week was the SEC, Stripe, Goldman Sachs, India and Singapore, Green Dot and more