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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.

News Roundup Online Lending

·Apr. 12, 2017

Growth Street Hires Two New Executives

Marketplace lender Growth Street has hired two new executives to support its expansion plans; April Nardulli will join the firm as general counsel bringing experience from RateSetter; Chris Weller will be joining as commercial director to support commercial loan business development; launched in November 2016 the firm has originated over GBP54 million ($67.44 million) from business borrowers; the new appointments follow the recent hiring of James Sherwin-Smith as the firm's new chief executive officer. Source

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News Roundup Online Lending USA

·Apr. 12, 2017

Approved Launches for Digital Mortgages

Approved has raised $1 million in pre-seed funding and announced its launch; Approved provides lenders with a solution for moving their lending operations online; the platform technology provides for increased transparency and faster processing times; the company will target established originators seeking to modernize their lending businesses. Source

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Europe Fintech News Roundup

·Apr. 11, 2017

FCA Regulator on Global Fintech Regulation

The Financial Conduct Authority's Director of Strategy and Competition Christopher Woolard has reported some concerns over fintech regulations globally; in a speech at the Innovate Finance Global Summit in London, Woolard specifically discusses fintech sandboxes noting concerns about establishing them before any government regulatory standards are in place and suggesting that countries institute some guidance before introducing sandbox initiatives; the UK has been a leader in sandbox innovation and the country plans to publish a full report in May on its first sandbox initiative. Source

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Asia/Pac News Roundup Online Lending

·Apr. 11, 2017

CBRC Issues New Guidance Regarding P2P Lending in China

The China Banking Regulatory Commission (CBRC) has issued a new guidance document titled, "Guiding Opinions on Risk Prevention and Control in the Banking Sector"; the document targets banking institutions and their risk prevention efforts related to internet finance businesses; it focuses on ten types of high priority risks and emphasizes the requirement that P2P lenders partner with a custody bank; in addition to further details on broad market rectification it also includes emphasis on student lending and microloan businesses. Source

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Europe Fintech News Roundup

·Apr. 11, 2017

European Investment Fund Report Reviews 20 Years of VC Investing

As a fund with access to 355 venture capital funds the European Investment Fund (EIF) was able to analyze European venture capital activity from 1996 to 2015 in their new report; the report points out that new funds performed almost as well as seasoned funds in selecting winners when economic times were good; on the contrary when economic times are not as fruitful the skilled venture capitalists were better at picking companies and avoiding big losses; the big takeaway from the report is that the real skill involves avoiding the big disaster investment in tough economic times. Source

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Europe News Roundup Online Lending Real Estate

·Apr. 11, 2017

Funding Circle Announces Changes for Property Lending

UK online lender Funding Circle has announced it will be slowing its property lending with plans to fully end the product by mid 2018; the firm is primarily focused on SME lending and says the refocused strategy will help it to increase SME lending and shift its resources for international expansion; property loans have previously only been available to UK borrowers and the product has accounted for approximately 5% of the company's revenue. Source

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News Roundup Online Lending

·Apr. 11, 2017

P2P Global Investments Fund Reviewing Its Investment Manager

The P2P Global Investments Fund is reviewing its fund management arrangements with investment manager MW Eaglewood Europe LLP; MW Eaglewood has submitted plans for improving the performance of the fund which include fund management changes and a discount reduction plan; further discussions over the fund's management are expected to continue; the fund is also reporting some factors that could improve including better risk default characteristics from loans concentrated at durations of 7 to 21 months and increased utilization of credit facilities. Source

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News Roundup Online Lending

·Apr. 11, 2017

The Strength of Student Platforms in the Securitization Market

In 2016 the student loan securitization market increased compared to 2015 and in 2017 the market has already been off to a good start; the panelists discuss the reasons for this trend of increased issuance including knowledge, confidence and a default rate of just 3 bps; in the case of the refinance product, supply has created the demand; panel also comments on the current regulatory landscape and the Federal Family Education Loan (FFEL) Program which guarantees student loans; on the whole loan side, the panelists talk about the interest from investors, why they are deploying capital to the student loan market and the kind of returns they can expect; finally the panelists talk about risk retention and the importance of fintech in the origination of assets. Source

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Fintech News Roundup

·Apr. 11, 2017

Lend Academy Article: The Keys to Success: From Females in Fintech

Lend Academy provides insight on achieving success from this year's Fintech Woman of the Year finalists; highlights include visualizing success, setting goals and learning from experiences; the article also includes a link to a recent Exchanges at Goldman Sachs podcast where Goldman Sachs' global co-head of the Industrials Group in Investment Banking shares her career advice. Source

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Fintech News Roundup

·Apr. 11, 2017

Chart of the Week: Leading VC Investors in Unicorn Exits

CB Insights reports on the venture capital industries top investors in unicorn exits; Sequoia Capital ranks first on the list of investors investing in unicorn startups with private market exits during 2009 to March 2017; Sequoia Capital has invested in 18 companies with unicorn exits including fintech company Square Capital. Source

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