Social Finance Inc. has filed as a sponsor for a securitization portfolio of private student loans; SoFi Lending Corporation, will act as the securitizer for the SoFi Professional Loan Program LLC 2017-B (SOFI 2017-B) portfolio. 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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LoanHero has appointed three new executives: Zalman Vitenson, Olaf Janke and Michael Sides; Vitenson will take the CEO role, Janke will be the firm's new CFO and Michael Sides has been hired as the firm's vice president of sales; LoanHero provides an innovative technology loan origination platform for point of sale lending. Source
Former CIO and Group Managing Director at UBS, Oliver Bussmann, provides his insight on financial services technology and why blockchain matters in a CXOTALK interview; Oliver Bussmann was involved in the early discovery of blockchain and says one of its greatest advantages is transaction speed specifically in securities settlement where it can reduce settlement times from two to three days to seconds; Bussmann also says blockchain will be influential for insurance, trade finance, payments and the internet of things; overall he thinks regulation, consumer preferences and new technology are important factors changing the landscape and outlook for the financial services industry in the near term. Source
Market Improvements; Contrarian View on U.S. Consumer; SBA PPP Program Holes Indian...
UK based digital only bank, Atom Bank, raised more than $205mn from investors including BBVA; the new capital will help the bank further investment in technoloy and business capabilities; BBVA Chief executive Carlos Torres Vila tells the FT, “we are fully aligned with the vision of banking that Atom is pursuing, and the disruption it is already bringing to the UK financial services sector.” Source.
Last month five legislators introduced the Veterans and Consumers Fair Credit Act,...
Amber Baldet’s New Startup Is a Blockchain Dapp Store AlphaPoint Launches Framework...
Most fintech companies are focused on lending, payments, financial management or some...
Unlike Bank of America and JPMorgan Chase Citi has shrunk their branch...
While giving a speech the acting head of the OCC stated that banks need more competition not less; he also commented on companies like Amazon or Apple becoming banks, Noreika states; “Laws that prevent companies with resources and means from becoming competitor banks only serve to protect existing big banks from would-be rivals”; as Crowdfund Insider reports the benefits of having big tech companies become banks could help to lower cost, increase access and help to serve those who might be left behind by traditional banks. Source.