NSR Invest, which allows Lending Club and Prosper investors to analyze loan data and direct investments, has made Prosper's Q3 data available; users can now backtest the most recent Prosper loan data and view trends of older vintages yet to reach maturity; originations for Q3 2016 totaled $311 million. 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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Climb Credit is taking a different approach to lending to college students,...
VeChain, Viseo and Microsoft have launched a blockchain proof of concept project for the French car maker Renault; the idea is that blockchain can be used to keep record of how a car is maintained and that information from various car service providers can build a trustworthy growth history of a car; auto giants like Mercedes-Benz, Toyota and Porsche have tried blockchain projects before as well. Source (Chinese)
The recent funding of Greenlight Financial Technology is part of a recent trend that has financial services firms as of all sizes focusing on education; according to the Center for Financial Services Innovation 57 percent of Americans are financially unhealthy; one of the biggest issues financial education has had is that it’s hard to define; companies have been trying to offer different types of education through online courses and other tools that help customers to better understand their full financial situation; fintech companies are not the only one’s offering such services, big banks like JPMorgan Chase and Wells Fargo have recently added focused products and tools to help customers. Source.
Citizens Financial Group announced it is working with Wisetack to offer a B2B2C service.
Tradeshift raises $250M Series E, Goldman Sachs joins the round Improved MPL...
Kabbage is an online lender in the small business space; today they announced they would not fund “any business that we identify as a seller of firearms or ammunition to individuals under 21 or that sell or manufacture any form of assualt-style weapon.”; according to a written statement signed by the executives, “As parents and leaders of Kabbage we simply cannot imagine the grief of families who too often have been stricken by gun violence like the tragedy in Parkland, Florida. The technology community must work to prevent these horrifying and heartbreaking events from robbing our children of their future.”; Kabbage is also supporting the Parkland survivors’ March 14 walkout and also announced charitable contributions. Source
This week’s PeerIQ Weekly Industry Update covers the Fed raising rates by 25 bps, Affirm’s big fundraising and securitization news; PNC announced their new lending pro cuts through their mobile wallet and anticipate it will outperform branch loans; Equifax completed their first Securitization, a $200mn deal backed by lender fee revenues; PeerIQ does a deep analysis on the Sharpe Ratio which helps to gauge risk-adjusted returns. Source.
BlackRock is leading a $50mn investment round into microinvesting app Acorns to...
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