Funding Circle has revised its credit underwriting model for its secured property loans offered to SMEs; the new credit underwriting model has been adjusted based on three years of secured property loan data from the platform; the new secured property loan underwriting model will increase rates for certain secured property loans and also expand the firm's secured property loan risk bands beyond A+ and A. Source
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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Fintech startup StreetShares, who lends to military veterans, plans to launch a...
On Monday, ApplePie Capital announced new investment deals with TowerBrook Structured Opportunities Fund and a group of investors led by QED Investors and Fifth Third Capital; the TowerBrook Structured Opportunities Fund will invest $180 million in the platform's loans over the next two years; QED Investors and Fifth Third Bancorp led a Series B investment round for ApplePie Capital raising $16.5 million; ApplePie Capital has partnerships with 40 franchise brands and provides loans to support their franchisees. Source
During the week I share the latest marketplace lending news on Twitter...
Afterpay and Touchcorp are merging to form NewCo which will provide an advanced solution for merchant network installment payments; Afterpay has steadily grown its merchant network which pays a 4% fee for the installment service; Touchcorp will help provide advancements in payments technology for Afterpay and the integrated services will allow for broader expansion. Source
"Orebits Corp. has created a new asset class, enabled by Symbiont's distributed ledger technology, which will change the precious metals financing marketplace forever," says Scott Mehlman, CEO of Orebits Corp.; through support from Symbiont's blockchain technology, Orebits will offer clients digitized "smart certificates" called "orebits" that are tied to gold reserves setting up a new form of gold trading; additionally the exchange for the new gold orebits will operate based on a peer-to-peer structure; Symbiont reports that the innovation has created a completely new trading alternative for investors to gain exposure to gold and Orebits says the exchange will operate without margins, storage and insurance, creating a considerable advantage over other current methods for investing in gold. Source
The OCC is concerned about bank-fintech partnerships, Revolut looks to take on PayPal, Binance is making stablecoin moves, Coinbase is suing the U.S. Treasury and more.
The website for the new platform is chain.baidu.com; it is a project from the firm’s research on blockchain; they see early applications of the platform in asset securitization and asset exchanges; registration on the website is open to the public and users can deploy custom blockchain nodes. Source
Lob is a direct mail marketing company for lenders; in their featured blog post they provide three examples of how companies can benefit from using their services for direct mail marketing; benefits include improved acquisition from personalized attribution marketing, broader capabilities to market to customers based on milestones and events, and an efficient program for tracking compliance notices. Sponsored Blog Post