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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.

Europe Fintech News Roundup

·Jan. 13, 2017

New Digital Bank ClearBank Emerges in the UK

ClearBank has received its license for digital banking services in the UK; firm is run by Nick Ogden who also has payment services experience with WorldPay and CashFlows; the UK currently leads the challenger bank market with approximately 42 digital only banks. Source

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Fintech News Roundup USA

·May. 14, 2019

Some Wall Street Banks Continue to Believe in Blockchain

There has been a lot of discussion in the last few years...

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News Roundup

·Jun. 9, 2011

Average Returns by Loan Grade at Lending Club

A couple of days ago Lending Club added this new page to...

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Fintech News Roundup

·Feb. 15, 2017

Hippo to Offer Virtual Insurance Services through Partnership with Elafris

Insturech platform Hippo provides home insurance; it has now announced a new partnership with Elafris to help it develop a virtual agent chatbot powered by artificial intelligence to provide virtual customer service for its clients; in comments regarding the partnership Jake Diner, founder and CEO of Elafris, said, "Our virtual agent technology allows insurance providers to radically transform the way they acquire new customers, boost their customer reach and engagement, increase conversion rate and customer satisfaction, and ultimately grow their business faster and more efficiently."; Elafris is a leading provider of artificial intelligence solutions for insurance companies and is currently working with major national insurance providers. Source

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Fintech News Roundup USA

·Aug. 22, 2017

Chart of the Week: Student Loan Debt Increasing as Consumer Debt Reaches New High of $12.8tn

The New York Fed's most recent Household Debt and Credit Report shows credit levels reaching new highs; total consumer debt for Q2 2017 was $12.8 trillion and student loan debt reached $1.3 trillion; Forbes highlights an increasingly upward trend in student lending which it says is being supported by federal government loans. Source

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News Roundup Online Lending USA

·Jan. 19, 2017

Credible Has Raised $10mn for Its Online Lending Business

Credible is one of the success stories in online lending today. The leading online exchange for student loans has just closed their $10 million Series B funding round that we have been told was "a significant up round." Australian fund manager Regal Funds Management led the round that also included Prosper President Ron Suber. Credible doesn't lend money itself. Instead, it has deep integrations with many of their lending partners (such as CommonBond and College Ave) allowing borrowers not only to compare interest rates but to only see those rates with a high likelihood of approval. Source

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News Roundup Online Lending USA

·Oct. 27, 2016

Prosper Drops Loan Rates in Lower Risk Notes, Increases Rates in Riskier Loans

Prosper is lowering rates for higher credit quality borrowers and increasing rates in the lower credit quality segments; borrowers with loan ratings AA through C will see a rate decrease of as much as 79 basis points while borrower ratings D through HR could see an increase of as much as 74 basis points; in total, across all ratings, rates will be lower by approximately 39 basis points; Prosper says the rate changes are a result of the credit market environment, interest rate expectations and competition for consumer loans. Source

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Fintech News Roundup USA

·Jan. 3, 2019

Fintech Predictions for 2019

Every year LendIt Fintech co-founder Peter Renton reflects on his yearly predictions...

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News Roundup

·Jul. 22, 2020

Kabbage Launches Checking Accounts for Small Business

Many (perhaps most) small businesses are not well served by their bank....

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Europe Fintech News Roundup Online Lending

·Mar. 24, 2017

RBS Considering Mortgage Robo Advice and Closing 158 Branches

The Royal Bank of Scotland is closing 158 branches in the UK in an effort to reduce costs; it has continued to struggle since the financial crisis reporting nine consecutive years of losses; the firm has been increasingly integrating automation to cut costs and says it will make a decision on its robo advisory service for mortgage lending by the third quarter; the robo advisory service offers customers advice and insight that helps them decide on a mortgage loan product, also giving them an option to connect with a human advisor at any time during the process. Source

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