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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.

To join our newsletter community please subscribe here.

Fintech News Roundup USA

·Aug. 4, 2017

Coverager Reports on Rental Insurance Policies from PolicyGenius and Lemonade

Provides details on announcements from both companies and compares the offerings; PolicyGenius has entered the rental insurance market, launching its rental insurance product this week; also this week Lemonade announced expansion of its rental and homeowners insurance to New Jersey. Source

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Fintech News Roundup USA

·Aug. 4, 2017

Fluid Strikes Strategic Partnership with Nomad Credit

Fintech and adtech startup Fluid announced a strategic partnership with Nomad Credit, a financial marketplace for international students in the US; the partnership looks to offer better credit options to this underserved market; together the companies will deliver better financial literacy, credit building tools and more cost effective financial products; Timothy Li, CEO of Fluid, said, "I am very pleased to work with the leadership at Nomad Credit to deliver financial products and credit education to over 1,000,000 international students studying here in America." Source

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Fintech News Roundup North America USA

·Aug. 4, 2017

First Associates Opens New Operations Center in Mexico

Marketplace lending loan servicer First Associates has announced the opening of a new operations center; the operations center is located in Baja California, Mexico with capacity for 1,000 seats; in comments regarding the announcement, First Associates CEO David Johnson said: "We couldn’t be more excited about our new Baja facility. We are able to deliver the same outstanding quality and service as our San Diego operations center, offer an economically advantageous option to our clients and provide significant opportunities in a developing business community that is an important part of the greater San Diego/Tijuana metro area." Source

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Fintech News Roundup USA

·Aug. 4, 2017

Follow Up Friday: The Federal Reserve’s Payments Initiative

The Federal Reserve released a report on its initiative to provide real time payments by 2020; the report was created by a task force of over 300 industry contributors; the report, titled, "The U.S. Path to Faster Payments: A Call to Action" outlines payment processing proposals, the task force's vision and goals for the initiative; details on the payments initiative can also be found at FasterPaymentsTaskForce.org. Source

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Europe News Roundup Online Lending

·Aug. 4, 2017

UK P2P Business Lenders Exempt from APR Transparency and Pricing Rules

The UK Competition and Markets Authority (CMA) has released new rules for banking business lenders regarding APR transparency and pricing; the CMA has confirmed that P2P lenders will be exempt from its new banking rules; despite the exemption, it is likely that the new rules will cause more P2P lenders to provide greater APR transparency in order to maintain market competitiveness. Source

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Europe Fintech News Roundup

·Aug. 4, 2017

George Banco Acquired by Non-Standard Finance

Ratesetter took a minority stake in George Banco in May but now the firm is being acquired; all George Banco loans will be refinanced and RateSetter lenders will be paid in full; RateSetter has GBP30 million ($39.11 million) of outstanding loans with the company; George Banco provides loans to borrowers with poor credit and brings in a third party in case the borrower fails to repay. Source

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Europe Fintech News Roundup

·Aug. 4, 2017

Blocksure Brings Blockchain to Insurance Industry

Blocksure is looking to bring the beneficial aspects of blockchain technology to the insurance market; according to Coverager, Blocksure has developed an insurance policy delivered by a SMART contract; SMART stands for see-through, multifaceted, authoritative and real-time; this would enable insurers and the many parties involved in a transaction to use one centralized location for the contract; this would be a more efficient and secure way to operate; we are likely to continue to see blockchain based proof of concepts across the insurance space in the future. Source

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Asia/Pac Fintech News Roundup

·Aug. 4, 2017

Hexindai Launches Payments Function on Mobile App

Chinese marketplace lender Hexindai has added a payments function to its mobile app; firm has partnered with China UnionPay for Quick Pass; QuickPass allows platform investors to use funds for payments at merchants in the China UnionPay network. Source

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Asia/Pac Fintech News Roundup

·Aug. 4, 2017

Renault Launches a Blockchain POC Project

VeChain, Viseo and Microsoft have launched a blockchain proof of concept project for the French car maker Renault; the idea is that blockchain can be used to keep record of how a car is maintained and that information from various car service providers can build a trustworthy growth history of a car; auto giants like Mercedes-Benz, Toyota and Porsche have tried blockchain projects before as well. Source (Chinese)

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Asia/Pac Fintech News Roundup

·Aug. 4, 2017

First Bitcoin Cash Block Mined

The Bitcoin Cash (BCC) blockchain has successfully split away from the legacy chain; the block was mined by the China-based mining pool Viabtc at 2:14 pm EDT; the first Bitcoin Cash block was 1.9 MB in size, holding 6,985 transactions - much larger than BTC's 1MB limit and approximately 3,000 transaction throughput. Source

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