Online real estate investing marketplace RealtyMogul has announced it will now allow self-directed IRA investment through its MogulREIT I; provides the benefit of passive investment income through a retirement account; MogulREIT I will also now allow for automated dividend reinvestment which can help add to compounding returns for IRA accounts; the product has also announced the inclusion of two new property investments located in San Antonio, Texas and West Chester, Pennsylvania. 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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Chris Skinner writes in The Finanser that big banks are hiring people...
Goldman Sachs was always seen as one of the smartest shops on...
SuperMoney reviews the new US consumer lending platform founded by Renaud Laplanche; firm is an online lender focused on personal loans, also offering consumer credit monitoring and education for its customers with benefits for high quality borrowers; SuperMoney outlines the platform's underwriting standards, application process, and pros and cons versus competitors. Source
Bitcoin looks to be headed towards $10,000 and the overall market cap for digital coins has surpassed $300bn; Ethereum, bitcoin gold and bitcoin cash have all reached all time highs as the appetite for these currencies continues to rise unabated; while concerns of a bubble persist the prices continue showing more strength by the day. Source.
deBanked spoke with ID Analytics and learned that the firm has increased its visibility into the consumer lending market to 85%; ID Analytics offers a tool which allows lenders to see where a borrower is at with other lenders which is only accomplished with this kind of visibility into the market; ID Analytics also helps lenders combat fraud by analyzing applications for credit; the company analyzes about 1 million credit applications a day. Source
Biz2Credit has announced a new partnership with Tradeshift for expanded small business access to capital; Tradeshift is a cloud-based business procurement network supporting over 800,000 businesses; companies that use Tradeshift will gain access to the Biz2Credit platform for financing options; Biz2Credit says the partnership will help Tradeshift's clients secure financing more quickly and easily. Source
Here are the most read news stories from our daily newsletter...
Orchard published its Weekly Online Lending Snapshot with data through Tuesday of the Thanksgiving holiday week; commentary focuses on increased lending to small businesses and highlights Small Business Saturday which occurred on November 26; the Weekly Snapshot shows publicly traded marketplace lending company returns led by LendingClub with a monthly gain of 22.38% and LendingTree with a monthly gain of 16.09%; UK listed funds all reported losses on a monthly return basis with the VPC Specialty Lending Fund leading losses at -10.38% followed by the P2P Global Investments Fund reporting a monthly loss of -7.12%; the US listed, River North Marketplace Lending Fund has reported a positive monthly gain of 0.83%; in securitizations, SoFi is the latest issuer with the SoFi Professional Loan Program LLC (SOFI-2016-E) priced on November 17. Source