Goldman Sachs continues to expand into consumer lending and plans to offer home improvement loans this month; the loans are non-secured personal loans with interest rates lower than credit cards but higher than HELOCs; the company believes the quick financing time will be attractive compared to a HELOC. 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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Shenzhen Suishou Technology announces that KKR will invest in Suishou’s Series C funding round; Suishou is a personal finance management platform that provides individuals with a one-stop mobile destination to track spending, organize budgets, and manage credit card usage; KKR makes the investment from its Asian Fund III; no further details of the transaction were not disclosed. Source
CODIX examines reasons why organizations withhold plans for replacing their IT solutions, why they must replace, and when it is the right time to change in their white paper. Source
According to Bloomberg, defaults have triggered a breach in a 2015 SoFi bond deal; Bloomberg provides some details on the breach, reporting that the SoFi loans backing the bonds averaged more than $35,000, were unsecured and were from prime credit borrowers with annual salaries averaging around $130,000; the SoFi breach adds to worries about rising defaults overall which have been a factor for bond deals and troubled lenders in the marketplace lending industry. Source
During the week I share the latest marketplace lending and fintech news...
iZettle’s IPO, which they are set to announce next week would be...
The Co-founder and Head of Business Development at SALT Lending introduces us to the world of asset-backed cryptocurrency lending. Source
The challenger bank will be a standalone digital bank aimed to compete against Monzo and Revolut; according to Sky News, the project is so confidential that very few people are familiar with the project internally; sources state that Mark Bailie, the bank’s former COO is leading the new venture with tens of millions of pounds of backing for the new platform. Source
Voice recognition and machine learning technology are combining to offer consumers new services across various industries; in financial services ING has invested $945 million in a digital technology initiative that plans to include voice automated banking services through devices such as Amazon Alexa and Google Home; Amazon Alexa is now working with many financial services clients for voice integration including UBS, LPL, Fidelity, Capital One and Betterment; this week it was also reported that Wal-Mart will partner with Google to offer customers voice directed ordering through Google Home on Google Express. Source
During the week I share the latest marketplace lending news on Twitter...