The number of global fintech patent filings has increased by 49% in the past five years; in 2016 there were 9,545 fintech patents filed globally; the US was the global leader in fintech patent filings with 4,523; China ranked second with approximately half of the number of filings as the US; data on the filings was compiled by commercial law firm EMW who reported that the increase was a result of more filings from both startups and traditional financial services firms. 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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Chinese online consumer lender, LexinFintech, filed a $500mn IPO to list on the Nasdaq; LexinFintech provides installment loans for consumers to buy products; regulators have been looking closer at consumer lending in China with recent companies listing on US exchanges; the listing is being underwritten by Goldman Sachs, BofA Merrill Lynch, Deutsche Bank Securities and China Renaissance. Source.
Here are the most read news stories from our daily newsletter today:...
TrueAccord provides a data-driven debt collection platform; the company uses machine learning to communicate with consumers using the right channel at the right time; Ohad Samet, Chief Executive Officer stated, “It was the personal experience of dealing with a debt collector that made me realize the traditional collections industry was ripe for disruption with technology innovation and a more human approach. With changing consumer preferences, strong regulatory support for innovation, and clients who understand a customer-focused collection process is good for their business, we're experiencing tremendous demand from the market. We are seizing this opportunity to use machine learning to humanize debt collection for good.”; The round was led by Arbor Ventures Fund. Source
Here are the most read news stories from our daily newsletter today:...
Wells Fargo customers are skeptical about the reason why they were unable...
P2P-Banking.com has released its monthly report on marketplace lending originations; Funding Circle, RateSetter and Zopa led in December however loan volume for the UK lenders was down from November; Funding Circle originated €114.1 million ($118.92 million), RateSetter originated €68.2 million ($71.08 million) and Zopa originated €60.2 million ($62.74 million); in December Funding Circle's loan volume decreased -14% from November, RateSetter's originations decreased -1% and Zopa's originations decreased -25%.
Otting said Wednesday to reporters that no firms considering the OCC Fintech...
ThinCats has received endorsements from the National Association of Commercial Finance Brokers (NACFB) and Defaqto for its business operations in the P2P lending industry in the UK; the NACFB has recognized ThinCats for its best practices within commercial finance brokerage activities and ThinCats has joined the NACFB as a patron; ThinCats has also been recognized by Defaqto with a 5-star rating for product quality and comprehensiveness. Source
The Debt Exchange notes how US regulators are flagging some concern with commercial real estate investment concentrations, even as pricing shows steady demand for properties; regulators are finding bank ratios of commercial real estate loans to total risk-based-capital are approaching 300% in certain property markets (300% is possible through leverage) and loan-to-deposit ratios are approaching 100%, both flags on the risk side; the article notes that loan sales, to private investors as well as through securitizations, are an effective way to reduce these ratios. Source