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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.

Europe Fintech News Roundup

·Apr. 13, 2017

BOE Governor Carney Points to Financial Crisis for Lessons to Apply to Fintech

Speaking at the International Fintech Conference hosted by the UK government, Bank of England Governor Mark Carney explained how the Bank of England is looking at the new rise of fintech firms; "Light touch regulation, out-moded codes of market conduct, inadequate settlement and clearing infrastructure all contributed, we can draw on these experiences to help ensure that fintech boosts growth and promotes financial stability," explained Carney; he also pointed out that regulators cannot hamstring innovation as the benefits from fintech should not be stamped out by regulation. Source

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News Roundup Online Lending

·Apr. 13, 2017

Role of AltFi Data in Bringing Transparency to P2P Lending

Bankless Times highlights AltFi Data, speaking to Rupert Taylor, founder and CEO; the company is an independent source of data to the European peer-to-peer lending market; currently tracks 28 UK originators and detailed loan level data on Zopa, Funding Circle, RateSetter and MarketInvoice; Taylor stated: "The right model doesn't involve the institutional investor duplicating that credit decision making process performed by the originator. But investors can use verified data to understand the historic performance of the assets, and to identify originators that are prepared to use disclosure in a way that holds them to account for the quality of the loans they originate." Source

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Fintech News Roundup

·Apr. 13, 2017

Q1 2017 Venture Capital Report

CB Insights reports on first quarter 2017 venture capital deals in their "MoneyTree Report" published in collaboration with PwC; globally, venture capitalists invested $27.1 billion in the first quarter with 2,228 deals; deals and investments increased from the fourth quarter of 2016 and were below the first quarter of 2016. Source

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News Roundup Online Lending USA

·Apr. 13, 2017

Kathryn Petralia Provides Insight on Fintech and Kabbage’s Business Growth

Experienced credit market executive Kathryn Petralia talks with Crowdfund Insider about fintech and the business growth of Kabbage; the firm has originated approximately $3 billion in loans to 100,000 US small businesses since 2011; it has developed lending partnerships with global banks Santander and Scotiabank; it has also been active in promoting small business lending through its development of the SMART Box in collaboration with the Innovative Lending Platform Association; other highlights from the interview include insight on fintech predictions and regulations, Kabbage's involvement with the Consumer Financial Data Rights group, initiatives within the Innovative Lending Platform Association and Petralia's career advice. Source

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Europe News Roundup Online Lending

·Apr. 13, 2017

UK Lender Lending Works Announces Milestone

UK consumer lender Lending Works has lent over GBP50 million ($62.68 million) to UK consumers, also reporting over 10,000 clients; the firm's success has been helped by the launch of its innovative finance individual savings account which reported investments of approximately GBP1.5 million ($1.88 million) in the first 24 hours and has accumulated investments of over GBP8.8 million ($11.04 million) since February 2017; the firm's chief executive says it expects to reach originations of GBP100 million ($125.36 million) very soon; business growth is also expected to be helped by a new loan offering partnership with Revolut. Source

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Asia/Pac News Roundup Online Lending Real Estate USA

·Apr. 13, 2017

CrediFi Launches CredifX for Commercial Real Estate Loans

CredifX will add to the firm's data services which provide data on over two million US commercial properties and $13 trillion in loans; the CredifX platform will offer a marketplace for commercial loans, providing access to financing and investing for commercial real estate borrowers, brokers and lenders; the new commercial real estate loan platform is expected to increase market competition and pricing for loans. Source

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Asia/Pac Fintech News Roundup

·Apr. 13, 2017

Othera Using Blockchain to Improve Liquidity in Online Lending

City A.M. reports on Sydney-based Othera's use of blockchain for improving liquidity in online lending; Othera is a P2P lender; once its loans are made, it has developed a process through blockchain operations that can assign loan portions to tokens that can then be tracked through blockchain operations and sold on an exchange; the firm already uses blockchain for all of its lending operations and has a global patent pending for the tokens. Source

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Fintech News Roundup

·Apr. 13, 2017

Startup Helps Chinese Investors Access US Markets

Chinese startup Niu Jiao Suo is connecting Chinese investors with foreign mutual funds; investors can currently access funds offered by Blackrock, Vanguard, JP Morgan and Goldman Sachs; investors are limited by $50,000 per year but can start with as little as $400; interestingly Niu Jiao Suo is not managing its users money and focuses on ensuring users don't exceed the $50,000 limit; according to Crowdfund Insider: "After funds are deposited into a user's account, the money is sent directly to a custodial account managed by DBS Bank. Niu Jiao Suo's primary role is conducting due diligence on the users to make sure they have a clean background and are not US citizens." Source

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Fintech News Roundup

·Apr. 13, 2017

Chinese Firm Hywin Financial Acquires UK Wealth Manager Azure Wealth

Hywin Financial Holding Group has announced the acquisition of UK wealth manager Azure Wealth; Azure Wealth will change its name to Hywin Wealth and operate as a subsidiary of the financial holding company; according to Managing Partner Massimo Scalabrini, "All other management and operational responsibilities as well as our principles, ethos and investment management philosophy remain unchanged."; the acquisition will provide the UK-based firm with wealth management expansion opportunities in Asia; Hywin Financial Holding Group has over 20 wholly-owned and holding subsidiaries with over 100 billion Chinese yuan ($14.53 billion) in assets under management. Source

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News Roundup Online Lending

·Apr. 13, 2017

The Point of Sale Market: A Trillion Dollar Opportunity

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

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