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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.

FintechNews RoundupUSA
·Jan. 25, 2018

More than 2,000 Bank Branches Close Across US Last Year

US banks closed more than 2,000 bank branches in 2017, an 18 percent increase form the year earlier; Wells Fargo is one of the leading banks as they closed 194 branches and plan to close more than 800 more by 2020; other banks like Citizens Financial is reducing square footage at branches but not closing as many; Banking Technology lists the top 10 banks by branch closures. Source.

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News Roundup
·Nov. 28, 2011

An Introduction to the Lending Club Trading Platform

[Editor’s note: This is the longest post I have ever done but...
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News RoundupOnline LendingUSA
·Apr. 10, 2017

Goldman Sachs’ Investment in TransUnion

Goldman Sachs is estimating a 500% return on its initial investment of $550 million in credit data provider TransUnion; the investment began in 2012 when Goldman Sachs bought TransUnion; since then TransUnion has gone public with shares opening at $22.50 on June 25, 2015 and currently trading at $38.23; Goldman Sachs has also earned $50 million from TransUnion's IPO and debt underwriting; additionally, Goldman Sachs is reporting a number of other advantages from the investment including support for its newly launched consumer lending platform Marcus which is a client of TransUnion.  Source

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FintechNews Roundup
·Nov. 9, 2017

Announcements & Releases for November 9, 2017

  • Fisdom Raises $4M in Series B Funding
  • Kony Announces Digital Banking Marketplace Expansion
  • Concord Servicing Corporation Names New President and COO, and Adds New CFO
  • Borrowell Named One Of Eleven Companies-to-Watch In Canada
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FintechNews Roundup
·Jan. 30, 2017

Condor Capital Compares Robo Advisers

Condor Capital Management's Ken Schapiro analyzed the market's robo adviser offerings by opening and funding more than a dozen accounts with a similar investment profile; all portfolios included an allocation of 60% equities and 40% fixed income however each followed the robo adviser's suggestions within those two categories; the results showed one year performance ranging from 10.75% to 5.55% with international holdings and bond fund variations significantly affecting the returns.  Source

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FintechNews Roundup
·Jan. 26, 2017

Software Trading Business Raises $1.75mn

Financial trading startup Alpaca has raised $1.75 million from private market venture capitalists; company is using artificial intelligence and database technology to develop software as a service for investment market traders; current products include AlpacaAlgo with over 25,000 user built trading algorithms; platform has executed over $100 million in transactions.  Source

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Asia/PacFintechNews Roundup
·Apr. 7, 2017

Regulator Discusses Blockchain Standards for China

Huo Xuewen, secretary of Beijing's Municipal Bureau of Finance, discussed potential standards for blockchain in China in a recent speech; Xuewen is a proponent of blockchain and says the country should implement a standardized approach for its development; the government's current focus is on regulatory standards for bitcoin investments and trading; Xuewen says the country can do more with blockchain across all industries.  Source

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News RoundupOnline LendingUSA
·Aug. 10, 2017

Online Lending Policy Institute Announces Second Annual Summit

Summit will be held in Washington D.C.; the Online Lending Policy Institute (OLPI) is one of the leading industry groups to promote regulatory discussions in Washington; the event will be held on September 25 at the Renaissance Hotel; industry participants will share insights, propose standards and have a dialogue with regulators and policymakers; the OLPI was founded by Cross River, the Boston University Center for Finance, Law & Policy (CFLP) and RocketLoans. Source

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FintechNews RoundupUSA
·Feb. 12, 2018

Q&A With Pam Codispoti of JPMorgan Chase

Codispoti is a JPMorgan executive who helped create the Chase Sapphire Reserve card; in this Business Insider Q&A she talks about her perspective on millennials, a new bank branch Chase is launching and the learnings from her time creating the Chase Sapphire Reserve. Source

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FinanceNews Roundup
·Dec. 6, 2016

SmartBiz a Leading Provider of SBA Loans

SmartBiz has been ranked the number one provider for non-Express, SBA 7(a) loans under $350,000 and fifth among providers for traditional SBA 7(a) and Express 7(a) loans under $350,000; SmartBiz is the first SBA marketplace and bank-enabling technology platform; it facilitates small business lending from banks; in the government's 2016 fiscal year, SmartBiz generated $200 million in funded SBA 7(a) loans.  Source

 

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