Here are the most read news stories from our daily newsletter today:...
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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After the financial crisis in 2008 there was a sweeping piece of...
Roofstock provides a marketplace for buyers and sellers of rental properties; the company is up to 35 employees and has now raised their Series C led by Canvas Ventures; TechCrunch published a short Q&A with their CEO Gary Beasley; while the company doesn’t disclose actual number of properties, they have facilitated “hundreds of millions of dollars in value this year alone” and now operate in 15 markets across the US. Source
Student loan servicer Navient has acquired fintech firm Earnest for $155mn; the motivation behind the deal will pave the way for Navient to enter the lending business; “We’re looking to be the major player in the student loan refi space,” said Navient CEO Jack Remondi in an interview with the WSJ. Source.
China's central bank provided its insight on fintech development initiatives for the country in a recent press conference; the press conference included four of the central bank's government officials including Zhou Xiaochuan, governor of the People's Bank of China; the central bank reported that it encourages and supports fintech development in the country; it spoke about some of its initiatives including a digital currency and other new blockchain solutions; it also noted its work to strengthen regulation specifically in the areas of unlicensed businesses and third-party payment platforms. Source
Miles Reidy is a partner at QED and spearheads the VC firm’s regtech initiatives; Reidy talks about his background, why regtech has its origins in the changes brought on by the financial crisis, the differences that regtech is making in financial services today and more. Source
Provenance.io Blockchain Raises $20 Million in Security Token Offering PayU Acquires Digital...
New statistics show e-commerce spending in China continues to rise, with projections estimating the average digital buyer will spend RMB12,198 ($1,836) online in 2017, an increase of 7% over 2016; growth is expected to slow to 5% or less after 2017; the forecasts could point to a peak for China's e-commerce giants and also serve as a catalyst for the broad ranging expansion of China's top e-commerce companies. Source
By Vivian Wagner A general guide to person-to-person lending sites Choosing the...
A recent report by Bain & Company just shares how successful Amazon could be if it were to enter banking; according to the report: "We could imagine Amazon's banking services growing to more than 70 million U.S. consumer relationships over the next five years or so — the same as Wells Fargo, the third-largest bank in the US. Although many retail bankers and observers have pegged the nimble fintech start-ups as the likely disrupters, it has become clear that established technology firms pose a bigger threat.”; the CNBC article shares several of the advantages Amazon would have in banking, products they could expand into and some of the talks that are already taking place with banks. Source