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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.
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Aviva purchased a majority stake in robo-advisor Wealthify only 18 months after their head of retirement solutions criticized automated advice; Wealthify will sit alongside other Aviva products and services through the insurer’s digital hub, MyAviva; the insurer sees this as another important step in their digital strategy. Source
Level is a challenger bank which just launched in February 2020; the...
Onalytica analyzed 5 million fintech posts starting February 2019 to come up...
Instant buying or iBuying is starting to shake up certain real estate...
Banks speaking at the BankAI conference this week talked at length about what artificial intelligence means in consumer banking; “We have to keep up and we have to stay ahead,” said Diane Morais, president of consumer and commercial banking products at Ally Bank according to American Banker; the banks also talked through current use cases for AI and what the future might look like for banking. Source.
New regulations in China tightening controls on P2P lenders will now require P2P lenders to partner with a custodian bank; Chinese banks are not eagerly partnering with the alternative lenders as fraud has been rampant in the industry; less than 5% of the country's 2,534 P2P lenders currently have a partnership with a custodian; custodians will add another layer of authentication for the P2P lending industry since they have high standards for money transfer and safekeeping; currently none of China's big four banks have partnered with P2P lenders for custodian services; smaller banks are getting involved and bank to platform relationships are taking on various forms. Source
It is not uncommon for Amazon to launch new products that subsequently...
Anil Stocker and Aman Mehra from MarketInvoice talk with AltFi about how marketplace lenders are revolutionizing the credit underwriting process; specifically noting the speed of approvals from sophisticated credit underwriting models; also the seamless aggregation and decision process which Stocker says is faster and more efficient than banks; the success of the firm's underwriting has helped it to maintain a steady client base and also gain endorsement from the UK's British Business Bank. Source
LendIt has announced eight finalists from a pool of approximately 300 applicants for this year's PitchIt @ LendIt USA; finalists will be connected with mentors for competition preparation and ongoing business support; LendIt has partnered with 500 Startups and sponsor Marqeta to host the event; the finalists will present to a panel of judges at LendIt USA 2017 on March 7. Source