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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.

FintechNews RoundupReal EstateUSA
·Aug. 2, 2017

PeerStreet Partners with Personal Capital

PeerStreet, a platform for investing in real estate backed loans, has now integrated with Personal Capital which is powered by the Envestnet | Yodlee data aggregation platform; customers will now be able to view their PeerStreet positions within their investment portfolio on Personal Capital; this is the third such integration as PeerStreet recently announced integrations with Wealthfront and Betterment; "Many PeerStreet customers have asked for this integration with Personal Capital. We're always working to improve the experience for our customers and provide greater control and transparency," said Brett Crosby, co-founder and COO of PeerStreet." Source

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FintechNews RoundupUSA
·Aug. 2, 2017

Fund That Flip Expanding to Cleveland

Fund That Flip is a real estate crowdfunding platform; it has been around for three years and plans to add 25 employees to the Cleveland location; the company received a Job Creation Tax Credit on Monday, July 31st which applies to the company's plan to generate $1.5 million in new payroll. Source

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EuropeFintechNews Roundup
·Aug. 2, 2017

Klarna Launches New P2P Payments Service, Wavy

Swedish fintech Klarna Bank has launched a free P2P payments service; the new service is called Wavy and is available for consumers across 31 European markets; the service allows for simplified payment redemption with the receiver able to redeem the funds directly to their bank account. Source

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EuropeFintechNews Roundup
·Aug. 2, 2017

InvestCloud Supporting Robo ISA Offerings

InvestCloud is helping automated investment platforms with ISA offerings through their newest product, Emerald; Nutmeg partnered with InvestCloud for its Lifetime ISA; InvestCloud now has over 670 clients using the Emerald technology. Source

 

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EuropeNews RoundupOnline Lending
·Aug. 2, 2017

Ablrate Launches Innovative Finance ISA

Ablrate was recently authorized by the FCA and is now launching their custom Innovative Finance ISA; Ablrate offers a self-select marketplace where investors hand pick the loans they look to invest in; this is one of many products the company will launch in this arena; Ablrate facilitates asset-backed loans with specialization in aircraft and capital equipment; they currently will take cash deposits for their IFISA but no transfers as David Bradley-Ward, CEO of Ablrate, tells AltFi, "We want to be able to get everyone going with their IFISA first and then allow transfers in from other providers after the first week of our launch." Source

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Asia/PacNews RoundupOnline Lending
·Aug. 2, 2017

Dianrong Announces Series D Round Funding of $220mn

Dianrong has obtained $220 million from a Series D funding round; this latest funding was led by GIC Private Limited (Singapore's sovereign wealth fund), CMIG Leasing, and Simone Investment Managers, among others. Source

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Asia/PacFintechNews Roundup
·Aug. 2, 2017

Up Financial CEO Steven Yuan Describes the Power of Big Data and AI

At LendIt's Lang Di Fintech conference this July in Shanghai, Up Financial CEO Steven Yuan talked about the power of big data and artificial intelligence for the economy; he calls this intelligent finance and believes that using these tools will allow for investing to come to the masses; he also thinks that the tools can help to lift up the broader economy; he points to a report by Boston Consulting Group about China's private investable assets in the next three years and believes there is an enormous opportunity to leverage wealth management; Up Financial's goal is to create a personalized new financial system for individual investors and big data plus artificial intelligence will allow for them to potentially reach these goals. Source

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Asia/PacFintechNews Roundup
·Aug. 2, 2017

Monetary Authority of Singapore Releases Report on Digital Token Offerings

The regulator says, "digital tokens in Singapore will be regulated by the Monetary Authority of Singapore (MAS) if the digital tokens constitute products regulated under the Securities and Futures Act"; if digital tokens fall under the definition of securities in the Securities and Futures Act then issuers are required to register a prospectus with MAS and other requirements may also apply to associated parties; overall the statement from the MAS increases the level of compliance needed for an initial coin offering. Source

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FintechNews Roundup
·Aug. 2, 2017

Bitcoin Price Dropped 10% after the Bitcoin Blockchain Split

Starting August 1 at about 8:20 AM EST, the bitcoin blockchain split, and there is a new set of tokens - bitcoin cash (BCC)  - on the new blockchain; bitcoin's price dropped about 10% from $2,944 to $2,632 in about forty minutes, according to bitcoin trading platform OKCoin. Source (Chinese)

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FintechNews RoundupUSA
·Aug. 1, 2017

JPMorgan to Use Robot to Execute Trades

JPMorgan will soon be using robot technology to execute trades across its global equities algorithms business; the artificial intelligence, also known as LOXM, will be launched across Asia and the US in the fourth quarter; LOXM's job is to execute client orders with maximum speed at the best price, by using lessons it has learned from billions of past trades; one possible evolution of LOXM is teaching the machine how to get to know individual clients, so that it could consider their behavior and reaction as it decides how to trade. Source

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