Christian Faes is the co-founder of LendInvest and served as the CEO...
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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In its fourth year, the LendIt Fintech Industry Awards highlights the great...
About 4.6 million people are currently in default on student loans which is more than double the number from 4 years ago; the number grew by almost 275,000 borrowers in the third quarter alone; even as the economy grows and there is a multitude of options available to borrowers more people fall behind. Source.
The industry wide thinking is that most people who use check cashing or pre-paid cards were making a big mistake; banking executives believe check cashing and pre-paid cards are a lot more expensive than bank accounts, but the reality shows a different picture altogether; University of Pennsylvania Professor Lisa Servon wanted to understand why the check cashing industry was such big business and why people were using these services instead of banks; what she found was, if you factor in account fees and overdraft charges, banking was more expensive for people living paycheck to paycheck; these individuals were consciously making the choice to not use banks and she found that there were three main reasons for this trend: cost, transparency and service. Source
Selina Finance launched in the UK a year ago to provide small...
There was a powerful synergy built between banks and fintechs in 2018...
Global Debt Registry has written a white paper on emerging risks in the marketplace lending industry; focuses on risks and recent regulatory communications by regulators; also includes details on some of the recent court cases pertaining to the marketplace lending industry; summarizes risks by ecosystem categories; presents solutions available through Global Debt Registry. Source
Crowdfund Insider talks with Ron Suber about Prosper and marketplace lending in 2016; in 2016 the firm reported decreased investment and transaction fee revenue which led to a number of new initiatives and changes; in his comments Ron Suber cited the importance of being adaptable to change; he also talked about the investment opportunity from institutional investors and the importance of securitization and a secondary market; for 2017 he expects rapid changes for the industry to continue and hopes that as the industry evolves it will result in more opportunities for borrowers, online lending platforms and the ecosystem. Source
Consumers are increasingly relying on voice technology for messaging and also through services like the Amazon Echo Alexa and Apple Siri; in voice technology, innovators are now seeking new ways for systems to more broadly understand context and speak coherently in conversations; however as the technology evolves, privacy and security have become concerns; overall, demand from consumers for voice technology is likely to continue because of the convenience it offers. Source
PayPal will offer loans to larger businesses that process payments with its platform and have access to new firms as a result of the acquisition; Swift Financial was founded in 2006 and extends credit with loans and advances; term loans of up to $500,000 will now be available to businesses; Darrel Esch, vice president and commercial officer of global credit at PayPal, stated, "This is an area where customers have been asking for more."; terms of the deal were not disclosed. Source