BlackRock's new investment management executive Mark Wiseman has reorganized the business with a greater focus on automated investing for its active funds; the changes will focus on the actively-managed equities business and include pricing changes and increased use of computer models for active investment funds; the firm's passive investments have helped it grow assets under management to $5.1 trillion however its active fund performance has lagged and in 2016 reported $275.1 billion invested, a decrease from $317.3 billion three years prior. 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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deBanked reports that Google searches including “cash advance” do not include advertisements when searching; this is likely due to Google clamping down on payday loan advertisements and the term cash advance being related to payday loans; Merchant cash advances however are for businesses, making this a possible unintended consequence on the clamp down of payday loan ads. Source
Today, Funding Circle gave its first quarter trading update in the U.K....
Banks know they need to update legacy technology, but investors are beginning to question at what cost can the banks innovate versus making profits; ensuring they stay competitive when it comes to technology, though keeping costs from skyrocketing is a tightrope more second and third tier banks are trying to navigate every day. Source.
Alibaba spin-off Ant Financial and non profit online lender QCash won the second annual FT fintech awards; they were selected from a group of over 200 companies in the fintech space and the winners were announced at the FT Banking Summit; both companies were rewarded for innovation and providing increased access to financial services. Source.
The Senior Managing Director at Kroll Bond Rating Agency discusses trends in marketplace lending securitization. Source
Both banks and online lenders are responding to the recent events with...
During the week I share the latest marketplace lending and fintech news...
Speaking at EthCC, an Ethereum conference in Paris, JPMorgan’s Amber Baldet talked about the concerns of private and public blockchain builders; “These problems really aren't so far apart, it's just that people are trying to solve the problems in different ways,” says Baldet as reported by CoinDesk; she doesn’t think public and private blockchain need to be so different, what everyone wants is the ability to interoperate; CoinDesk went on to interview Amber about building connectivity, feedback loops and more. Source.
European deposit marketplace Raisin has passed $6mn in brokered savings deposits; deposits grew by more than $3.5mn in 2017 and they saw their international customer base grow by 20 percent; the company acquired PBF Solutions, passed 100,000 customers, added 12 new partner banks and received more than $49mn in interest income last year; “We are pleased to be able to offer savers throughout Europe an attractive alternative.” said Tamaz Georgadze, CEO and founding member, to AltFi. Source.