Here are the most read news stories from our daily newsletter today:...
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.
CrossLend shares the history of the company and how they shifted their business in November 2016; discusses seven reasons to invest in CrossLend’s single-loan-backed notes. Source
Under the new deal Credit China Fintech will invest $30 million into BitFury Group, a blockchain infrastructure provider; the new joint venture is focused on selling BitFury's bitcoin mining hardware; Phang Yew Kiat, vice chairman and CEO of Credit China Fintech told CNBC they are investigating using blockchain on fintech platforms which include both P2P lenders and payment services; Phang also stated they have a working prototype payment system using blockchain. Source
John Gerspach, Chief Financial Officer of Citigroup stated at an investor conference they are building the foundation which will support the launch of a national digital consumer bank launch in the next three years; the bank currently has around 700 bank branches which is far fewer than the three biggest banks. Source
Speaking at LendIt Fintech 2018 Kabbage CEO Rob Frohwein talked about building a brand in the online lending space; he explained most companies think boiler rooms equal brands, he went on to say you need to spend time and money on building your company’s brand; building relationships is the key, not just credit scores and data, you need to understand what your customer wants and needs by engaging with them on a regular basis. Source.
Coming out of the crisis will be hard work for lenders of...
The online lender has named Bank of America Merrill Lynch, Goldman Sachs, Morgan Stanley and Numis Corp to work on their upcoming IPO; the IPO is currently slated for the second or third quarter which may value the company around $2 billion; if successful it would be the largest IPO for a British fintech company; Index Ventures, Union Square Ventures and Accel Partners were early investors in the company. Source
Since the financial crises banks, for the most part, have focused their time and effort on complying with new regulations and building up capital ratios in case another crisis hits; while they were doing this another industry, fintech, emerged and has eaten into some of the core profit making businesses of the banks; banks have started to catch up with technology and as countries like the US look to pare back some crisis era rules the banks see the next few years as the perfect opportunity to invest wisely in technology; the one thing the banks might not be able to handle is if Amazon, Facebook or Google begin to encroach further into fintech, potentially bring in competition who can immediately match up in size and strength. Source.
A new study by JD Power shows that most people, even digital...
U.S. based financial regulators have told the FT that they are currently...