New York-based commercial real estate developer Tishman Speyer has partnered with CreditEase Wealth Management to invest $1.4 billion in China and other countries within the next three years; according to Tang Ning, CreditEase founder and CEO, the partnership will focus on long-term development, providing clients with globalized and diverse portfolios. 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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Lend Academy takes a retrospective look at the most important stories for the industry in 2016; regulation was a factor for the industry and 2016 included a white paper from the Treasury with consultation from seven federal agencies governing the financial services industry including the Securities and Exchange Commission, Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau; the Office of the Comptroller of the Currency proposed its new fintech charter and the Marketplace Lending Association was formed as an advocate for the industry; other highlights included a $50 million investment in US P2P loans from Chinese marketplace lender CreditEase and a leading market position from SoFi. Source
The Coalition for Responsible Business Finance (CRBF) has announced it will join the Innovative Lending Platform Association (ILPA) in efforts to more broadly support lending for small businesses; the ILPA's network is primarily led by existing members, OnDeck, Kabbage and CAN Capital; with the merger of the two organizations, the ILPA will gain representation from the National Federation of Independent Business, the National Small Business Association, the Small Business & Entrepreneurship Council, the US Chamber of Commerce and the Association for Enterprise Opportunity; the expanded ILPA will provide even greater resources for advancing online small business lending education, advocacy and best practices; the ILPA is most well known for its work on introducing the SMART Box™ comparison tool for small business lenders; with the merger of the two organizations, the ILPA has also developed an updated industry code of ethics, leveraging the work previously done by the CRBF. Source
Yesterday LendingClub announced as part of their Q4 2019 earnings call that...
FT Alphaville provides interesting insight on a recently released report from Altus Consulting; cites "meteoric rate of expansion" of P2P with annual originations growing 70% per year; while the report gives the impression that P2P growth may be short lived, further details reveal how the expansion of interest is likely to create more institutional and retail products for investment; also notes innovation in fintech investing platforms which will help to increase interest in P2P investments. Source
An article in Tearsheet discusses how VCs are more interested in funding companies looking to improving legacy financial systems; Patricia Kemp, partner at Oak HC/FT responded to a comment about the prospects of consumer facing fintech in 2018 stating, “The largest category of successful fintech are the ones that are helping the banks get there.”; while there are still opportunities for new consumer solutions, it is just as important to innovate on back-end systems. Source
Jason talks with Forbes about his involvement in marketplace lending, the development of the first LendIt USA event in 2013 and much more; initially founded by Jones, Bo Brustkern and Peter Renton, LendIt started as a meetup and has grown to become the biggest show in lending and fintech in the US, Europe and China; this year's LendIt USA event will feature the market's leading online lenders, new tracks for fintech innovation and PitchIt at LendIt with eight finalists presenting before a panel of judges; LendIt hosts three events throughout the year with its next event in China. Source
FinTex Chicago is launching Currency on June 1; Currency is a new initiative from the nonprofit group that will provide a new resource for startups; Currency will be located at WeWork on 20 W. Kinzie Street and will potentially rent some of its 32-desk space; Currency is expected to be a gathering place for fintech startups, academics, regulators and established firms in Chicago, according to Jason Henrichs, co-founder of FinTex Chicago; Currency and its partners also plan to share online resources and offer programming on the fintech regulatory environment. Source
In an op-ed in American Banker the head of Funding Circle USA,...
Anti-fraud and authentication specialist Pindrop has unveiled a new method for users, toungueprinting; tongueprinting is meant to stop fraudsters from taking over legitimate accounts by spoofing the call centre with automated bots, social engineering, and knowledge-based authentication questions according to Finovate; Vijay Balasubramaniyan, CEO and cofounder of Pindrop, tells Finovate: “Tongueprinting not only adds an extra layer of security and authentication, it increases the opportunities to generate additional antibodies leading to a healthier user over time.” Source.