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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.

To join our newsletter community please subscribe here.

Fintech News Roundup USA

·May. 11, 2018

Tech Firms Will be Regulated Like Banks in the Future

Chris Skinner notes that the tech industry is the least regulated industry...

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Fintech News Roundup USA

·Jan. 12, 2018

Mambu’s Banking Technology Helps Kreditech Launch in India

Kreditech, looking to launch in India, partnered with Mambu and their Software as a Service banking platform; Kreditechis planning to launch in India this year with their partner PayU, the payments provider; Alexander Graubner-Müller, CEO of Kreditech, tells Banking Technology that Mambu’s cloud-native solution “easily integrates into our architecture, allowing us to quickly scale and adapt to market and consumer demands”.; this will now be the sixth country the company is in and they plan to get it up and running in the first quarter of 2018. Source.

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Europe Fintech News Roundup

·Nov. 3, 2017

Volkswagen Prepares to Apply for UK Banking License

Volkswagen is preparing an application for a UK banking license so they can continue car financing after the UK leaves the EU; the move will help the company be prepared as negotiations for Brexit continue; they currently are able to offer loans by passporting their license in Germany to the UK, but with Brexit occurring those rules might change; their loan book in the UK is $19.6bn and if they were to open a retail bank they anticipate about 10 percent of funding to be customer deposits. Source.

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Fintech News Roundup

·Feb. 16, 2017

Wells Fargo Increasing Its AI Investment Focus

Wells Fargo has been active in biometrics; in 2014 it launched a startup accelerator led by EyeVerify which it now uses for eyeprint verification with its commercial banking customers; it is also working with Kasisto in its startup accelerator and plans to launch some virtual assistant offerings for employees and customers; it has also now announced a refocused effort in its Innovation Group that will be dedicated to AI, payments and application platform interfaces; Wells Fargo's management is committed to biometrics and the firm wants to be a leader in the technology with a specific focus currently on voice recognition. Source

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Fintech News Roundup USA

·Apr. 28, 2020

Round Two of PPP Loan Program Off to Rocky Start

Yesterday round two of the PPP loan program kicked off after Congress...

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Fintech News Roundup USA

·Feb. 24, 2020

OCC Chief Courting Big Bank CEOs on CRA Reform

The head of the OCC, Joseph Otting, has been personally lobbying big...

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News Roundup North America Online Lending Real Estate USA

·Nov. 16, 2016

LendingHome Funds $750mn in Mortgage Loans

Marketplace lender, LendingHome, has reached a new milestone; firm has funded over $750 million in mortgage loans since its launch in April 2014; claims to be the largest mortgage marketplace lender; firm attributes the rapid growth to a broader range of investors, now including retail investors, and the secured status of the real estate loans; Matt Humphrey, LendingHome CEO, shares additional thoughts in the included Q&A. Source

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News Roundup

·Nov. 2, 2020

Chart of the Week: Fundraising for Robo Advisors and Digital Wealth Management Firms

The chart below is from PitchBook's fintech analyst report, "Part 3: Asset Management"; shows funds raised by companies offering robo advisor and digital wealth management services; according to PitchBook, institutional investment in fintech digital wealth management companies has been increasing since the financial crisis while millennial preferences have also increased demand. Source

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