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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.
According to a new report by the Cleveland Fed online SMB lenders...
Innovate Finance has released a report on fintech investment showing global investment in fintech increasing but decreasing in the UK; global fintech investment increased by 10.9% in 2016 to $17.4 billion; in the UK, fintech investment decreased by 33.7% to $783 million; fintech investment in China and the US accounted for $13.9 billion of the total $17.4 billion. Source
Last week, it was BlackRock announcing their bitcoin ETF, and now we have a consortium involving Citadel Securities, Fidelity, and Schwab launching a new crypto exchange called EDX Markets.
Here are the most read news stories from our daily newsletter today:...
The new CEO of the Innovative Lending Platform Association has written an op-ed focused on the Madden decision and how it could be fixed by Congress to better serve small businesses. Source
- Finn.ai Raises $3 Million in Institutional Financing Round
- Digital bank for teenagers raises $5m in Series A investment round
- Italian peer-to-peer lender launches its own fund, targets €100m raise
- Templum Raises $2.7M in Seed Funding
- Canadian Lenders Association & Innovative Lending Platform Association Launch Smart Box in Canada
- Starqrmarq wins peer to peer lending brief
- State of Small Business Lending: 2017 Spotlight on Women Entrepreneurs
Member platforms of the UK Peer to Peer Finance Association (P2PFA) are close to crossing more than $12bn in total loan originations; P2PFA small business lending platforms have recently increased lending and helped the origination number to grow significantly. Source.
Bank of America is testing three automated branches in Denver and Minneapolis in an effort to lower branch banking costs; the automated branches will focus their service around automated teller machines and video conferencing; the firm's CEO Brian Moynihan has been focused on reducing costs with a specific focus on lowering branch costs while increasing investment in mobile and digital technologies. Source
Zopa has made updates to its loan pricing valuations after recently reporting technical issues; affected investors will be receiving refunds based on the updated calculations; the firm says that it has resolved any issues and is reporting monthly loan volumes of GBP80 million ($104 million). Source