The Competition and Markets Authority (CMA) has now given provisional approval of...
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.
Chris Skinner discusses why blockchain is no longer the flavor of the...
TransferWise CEO: How a mistake I made with money led to launching...
Square's CEO, Jack Dorsey, explained on this week's earnings call why he puts its subsidiary, Caviar, on a silver platter; Square's payment-handling service is used by many restaurants, while Caviar's food delivery-enabling platform allows those restaurants to reach a customer base eating at home; the key for Dorsey is cross-selling services that grow their customers' businesses, even if the synergies aren't apparent at first bite; on CNBC's Squawk Box the day after the earnings call, CTO Sarah Friar said that Square has been "executing on all cylinders." Source
Andy Rachleff, CEO of Wealthfront, makes the case for automated advice and technology powered software; reports that Wealthfront's new system, Path, can analyze a client's spending and savings preferences through access to their accounts, creating financial plans in minutes; Wealthfront also has plans for adding artificial intelligence solutions to improve its services. Source
LendIt is returning to London again for the sixth annual LendIt Fintech Europe event....
Lend Academy talks with Prosper's CEO David Kimball in their podcast; David Kimball was previously CFO and became CEO in December; he talks about some of the company's challenges in 2016; provides details on the platform's investors, origination volumes and financing controls; he also discusses the firm's $5 billion investment deal and how it is affecting the business. Source
German fintech Deposit Solutions has acquired Savedo; Savedo is also a startup in the fintech space and the two firms offer similar services; Deposit Solutions provides a deposit marketplace for savers allowing them to move funds among 15 European banks in order to achieve the highest rate of return; Savedo will help Deposit Solutions expand its offering by adding 13 new banking partners and integrating 18,000 new customers. Source
Writing a guest post on FT Alphaville Victor Basta, the managing director of Magister Advisors talks bout the struggle digital banks face in making a profit; digital banks have certainly made a name for themselves and offer a better product to the consumer; rising customer acquisition costs and the tough scaling of affiliate agreements are just two of the reasons these banking startups will find it a challenge to reach profitability; the future looks like potential acquisition of digital banks for technology or merging with other fintechs to form a stronger conglomerate. Source.
Betterment is looking to cater to their wealthier clients as they make portfolios more personalized; they launched the Betterment Flexible Portfolio which allows customers to shoes how assets weights are allocated; the typical Betterment client uses the asset weights set by the robo advisor, but this feature is meant to personalize the wealth clients portfolio; the move will try to help the company to position themselves as a full service firm that can cater to different levels of clientele, not just the younger investor. Source.