Seacoast Banking has partnered with SmartBiz Loans to improve their SBA Lending...
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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Hongling Capital Monday had a press conference after the company announced to close its online lending business last week; Hongling Capital will be "upgraded" to Hongling Holding, and the latter will focus on industry finance, investment banking, asset management and wealth management, Hongling Chairman Zhou Shiping said in the press conference. Source (Chinese)
American Banker shares their takeaways from their recent conference after hearing from a wide variety of thought leaders in fintech; takeaways include: mobile and mortgages go together, don’t count out banks, the need for simplicity is paramount, small businesses care about digital too and the fintech charter is meh. Source
The lawsuit by the New York Department of Financial Services aimed at blocking the OCC Fintech Charter has been thrown out; Judge Naomi Reice Buchwald stated, "Since the OCC has not reached a final ‘fintech charter decision,’ defendants’ … motion is granted as plaintiff has suffered no injury in fact … and because plaintiff’s claims are not ripe."; it is possible that they could attempt to re-sue once the fintech charter is created. Source
Funding Circle’s latest securitization is their second securitization of US loans; The...
Equifax announced late yesterday that it has acquired the small business data...
From the LendIt Fintech Jobs Board: Leading tech-enabled asset manager, Pagaya Investments,...
Small business expense monitoring startup Digits is launching after two years in...
TNG FinTech Group Inc. is close to closing a Series A funding deal that will add $60 million in new capital for the firm and bring its valuation to $500 million; the firm offers global money transfers, foreign-exchange transactions and bill payments; following the funding round it will be one of the highest valued fintechs in Hong Kong; it plans to use the funding to expand its business internationally through acquisition of companies with remittance licenses in Singapore, Japan, the Philippines, Indonesia and the UK. Source
Point of sale finance is not new, but it has changed significantly over time; panelists share how point of sale finance was done 40 years ago and what it looks like today; companies are working with merchants in different ways to serve their customers at the point of sale through improved user experience, buying power and saving the sale; the panel talks about how they go about pitching retailers including how point of sale can help the 100 million consumers who have FICOs of below 700, a demographic that Zibby serves; unique models represented on the panel are Acima Credit's lease to own product and Summit Amerifirst's product which finances home improvement loans through contractors. Source