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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 North America Online Lending

·Apr. 7, 2017

NewOak Partners with LendingArch for $2bn Investment

NewOak will invest up to $2 billion in loans originated by Canadian online lender LendingArch over the next three years; NewOak will also make a significant contribution to the strategy of the firm; the New York-based asset management and institutional advisory firm will take an advisory role with LendingArch supporting its business development and capital markets strategies. Source

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Fintech News Roundup

·Apr. 7, 2017

Samsung Announces Nexledger Blockchain Platform

Samsung has created a cloud-based enterprise blockchain platform; details from its trademark registration also report that the system is permissioned and has been created to form a consortium of trusted participants; functions of the platform reportedly include smart contracts for financial services, a loyalty point program and authentication for financial services; Samsung has previously invested in blockchain-as-a service platform Blocko and is a member of the Hyperledger. Source

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Asia/Pac Fintech News Roundup

·Apr. 7, 2017

Regulator Discusses Blockchain Standards for China

Huo Xuewen, secretary of Beijing's Municipal Bureau of Finance, discussed potential standards for blockchain in China in a recent speech; Xuewen is a proponent of blockchain and says the country should implement a standardized approach for its development; the government's current focus is on regulatory standards for bitcoin investments and trading; Xuewen says the country can do more with blockchain across all industries. Source

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News Roundup North America Online Lending

·Apr. 7, 2017

Small Business Lending Environment in Canada

Panel explores a diverse set of small business lenders based in Canada; topics covered include the differences of regulation, underwriting, and views on traditional banks between Canada and the rest of the world; Canada has five large banks which control a majority of the market which makes it hard to build a brand as an alternative lender; panelists answer how they can overcome this challenge and scale their business; they also share their thoughts on the current market opportunity and what the future holds for fintech companies in Canada. Source

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Fintech News Roundup

·Apr. 7, 2017

CB Insights on Artificial Intelligence

CB Insights has released a market report on artificial intelligence; the report includes the market landscape, market statistics and an outlook for future growth; in the first quarter of 2017 the sector reported 30 artificial intelligence deals in fintech and insurtech with 48% of the deals by seed or angel investors; other highlights include $14.9 billion in equity funding from 2,250 deals since 2012, over 200 artificial intelligence acquisitions since 2012 and 11 artificial intelligence acquisitions by Google. Source

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Fintech News Roundup

·Apr. 7, 2017

JPMorgan’s Fintech Investments

JPMorgan is one of Wall Street's most active fintech innovators; Jamie Dimon outlined some of the bank's leading initiatives in his annual letter; in 2016 the firm invested $9.5 billion in new technology put towards initiatives in big data, machine learning, cybersecurity and electronic trading; the bank is also developing its customer facing technology and enhancing digital services for its corporate and investment bank and its asset and wealth management unit; other initiatives include promoting financial inclusion, collaborating with fintechs and investing in data sharing. Source

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News Roundup Online Lending

·Apr. 7, 2017

Auto Loan Delinquencies Reach a New High

Auto loan delinquencies are now at their highest level in four years; a report from the American Bankers Association says 1.75% of borrowers with loans from a dealer are at least 30 days late; 0.94% of borrowers with auto loans from a bank are at least 30 days late. Source

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Fintech News Roundup USA

·Apr. 7, 2017

Small Business Act Passes in the House of Representatives

The House of Representatives has passed Supporting America's Innovators Act (HR 1219); the bill will provide increased access to capital for small businesses; among its provisions are changes to the number of investors in a venture capital fund and incentives for rural entrepreneurship. Source

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Fintech News Roundup

·Apr. 7, 2017

Trov Announces Fundraising of $45mn

Insurtech firm Trov has announced a $45 million investment from a Series D fundraising round; the platform plans to use the funds to expand its products, further develop its technology and enter new global markets; investors in the recent fundraising round included Munich Re/HSB Ventures, Oak HC/FT, Suncorp Group, Guidewire, Anthemis and Japan's Sompo Holdings; the single item insurer is already active in Australia, the UK and the US with its next expansion planned for Japan. Source

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Fintech News Roundup

·Apr. 7, 2017

Random Forest Capital Announces Fundraising of $1.75mn

Random Forest Capital has developed a software solution that helps institutional investors identify investment opportunities from consumer, residential and commercial credit platforms; the firm has obtained $1.75 million from a fundraising round that it plans to use for building its software and machine learning algorithms and also for hiring new employees. Source

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