LendIt Co-Founder and current CCO of Centrifuge, Jason Jones, wrote a guest...
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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Adam Fisher, head of macro investing at Soros Fund Management has received approval to trade cryptocurrencies but has not begun trading them according to sources; Soros recently spoke at the World Economic Forum in January stating that cryptocurrency is a typical bubble, but was more bullish on blockchain technology; his family office as of Q4 2017 had a significant stake in Overstock.com. Source
CNBC profiles three companies emerging in the banking industry with solutions built from machine learning technology; Digit has created a solution that integrates with a user's bank account to automate savings based on account balances and spending patterns; Zest Finance is offering credit scoring technology based on AI algorithms using alternative credit data; Adyen is also using machine learning for fraud prevention; overall machine learning solutions are evolving rapidly and speculators believe they will revolutionize the workforce; Goldman Sachs says machine learning and AI will enable $34 billion to $43 billion in annual cost savings and new revenue opportunities for the financial sector by 2025; it's also expected that AI and machine learning will begin to replace jobs that can be easily automated while also creating greater opportunities for software developers and data scientists. Source
[Editor’s note: This is a guest post from Ryan Weeks, formerly with...
LendIt's most recent forum, Key Considerations for Risk Retention in Securitization, was held on Wednesday, January 11, 2017; the webinar provided insight on new risk retention regulations for securitization in effect beginning December 24, 2016; speakers provided insight on a range of securitization related topics including optimal risk retention structures, commercial considerations related to sponsors and requirements necessary for majority owned-affiliates; a replay of the webinar is now available.
With their recent acquisition of Credit Karma still fresh in everyone’s minds...
LendIt Fintech LatAm is happening December 8-9, virtually, of course. We are...
Consumers are increasingly relying on voice technology for messaging and also through services like the Amazon Echo Alexa and Apple Siri; in voice technology, innovators are now seeking new ways for systems to more broadly understand context and speak coherently in conversations; however as the technology evolves, privacy and security have become concerns; overall, demand from consumers for voice technology is likely to continue because of the convenience it offers. Source
The world's oldest central bank is now looking to the future; Riksbank is looking to issue a national digital currency as they have seen a 40% drop in use of notes and coins since 2009; they do not view the digital currency as a replacement for notes; the new currency would be viewed as complementary; challenges lie ahead as there is no blueprint for this; Cecilia Skingsley, deputy governor at the Riksbank, told the Financial Times, "This is as revolutionary as the paper note 300 years ago. What does it mean for monetary policy and financial stability? How do we design this: a rechargeable card, an app or another way?" Source
Here are what I consider to be the top 10 most important...