Global Debt Registry (GDR) has been steadily growing its business now announcing that Prosper will join the firm's verification network; by partnering with GDR, Prosper can enhance the reporting for its institutional investors; according to John Goldston, director of capital markets at Prosper, "GDR's eValidation and eVerify asset certainty tools fit easily into our existing data structures and processes, allowing our investors to seamlessly access GDR's enhanced verification and loan-level diligence services." 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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PayPal recently disclosed that they had crossed $10 billion in originations which...
During the week I share the latest marketplace lending and fintech news...
Joust is a new digital bank that is focused on the growing...
Peter Renton, Founder of Lend Academy and Co-Founder of LendIt Fintech provides...
Spanish bank BBVA has reported $90 million in goodwill impairment charges related to its acquisition of digital bank Simple; the acquisition has caused many analysts to question the valuation metrics for digital banks; BBVA acquired Simple in 2014 for $117 million which was $1,100 per customer; a similar digital bank sale of BankMobile is currently being priced at approximately $50 per customer; despite the impairment charges for BBVA, the bank has reported success from its acquisition with continued investment in Simple helping to increase its workforce to 350 employees. Source
OnDeck is one of the market's leading small business online lenders and they have taken an active role in industry self-regulation specifically around improved transparency for business borrowers; in their featured blog post they discuss the market's landscape and their lending technology partnership integration efforts; they also provide details on their involvement in developing industry best practices through development of the Association for Enterprise Opportunity and the Innovation Lending Platform Association; this involvement has resulted in the creation of the SMART Box which they also detail in their blog post. Sponsored Blog Post
Back in January I opened the kimono and gave you a complete...
CB Insights has released their latest report which highlights investments in fintech...
Crop Pro is based in Des Moines and has raised an $8 million Series A round; company provides services and products for farmers including crop insurance; will use the funds to expand its team and speed development of products and services; firm aims to bridge the gap between agricultural and financial technology; Crop Pro is the first agriculture venture-funded insurance provider to be approved by the USDA to offer federal crop insurance to farmers. Source