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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.
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Blocksure is looking to bring the beneficial aspects of blockchain technology to the insurance market; according to Coverager, Blocksure has developed an insurance policy delivered by a SMART contract; SMART stands for see-through, multifaceted, authoritative and real-time; this would enable insurers and the many parties involved in a transaction to use one centralized location for the contract; this would be a more efficient and secure way to operate; we are likely to continue to see blockchain based proof of concepts across the insurance space in the future. Source
The Indian online lending platform has closed a $10 million debt funding deal with investment from Kotak Mahindra Bank, Aditya Birla Financial Services and other financial institutions; follows other recent capital investments; firm plans to use the funds to support its loan book and expand to 700 cities; its platform originates loans ranging from Rs 1 lakh ($1,570) to Rs 40 lakh ($62,817) with interest rates of 16% to 24% and provides loan funds within three days. Source
Once seen as a niche segment of finance online lenders are now originating billions in loans each year; the bigger they get the questions start to arise if they can handle an economic downturn and are their underwriting models good enough; American Banker digs into the overall industry by looking at securitization growth, whether or not traditional banking is dead and more. Source.
Curve lets customers consolidate their credit cards into one Curve card; Curve was previously in beta and available to business users only; the fintech company stated that they have 50,000 people on the waitlist and had 100,000 beta users; Curve offers a free version of the app and a premium version for £50. Source
This marks a first for a UK bank to launch a biometric...
Only a few months ago Mark Cuban was criticizing cryptocurrencies as a bubble, he is now backing a new fund; Runa Capital principal Nick Tomaino founded the fund 1confirmation, according to a filing with the Securities and Exchange Commission; "I think Nick is one of the sharpest minds in the space, and I'm a big believer that there will be transformational apps built on blockchain," Cuban told CoinDesk; the recent change in opinion by Cuban points to a trend from Wall Street that shows more traditional finance players accepting the value of cryptocurrencies; the fund will make $100,000 to $500,000 investments and focus exclusively on cryptocurrency assets. Source
GreenSky offers a unique type of point of sale financing and has just closed a $200 million round. Source
Bitcoin is the financial phenomenon of the year; Peter Renton, Founder of Lend Academy and Co-Founder of LendIt shares his thoughts on cryptocurrencies as well as a breakdown of his holdings. Source
Almost 4 million people will soon be receiving their stimulus checks via...