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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.

Asia/Pac Fintech News Roundup

·Mar. 20, 2017

Fintech Deals Increase by 29% in Southeast Asia

Southeast Asia reported 71 fintech deals in 2016, an increase of 29% from 2015; total deal value was down from $177 million at $158 million; angel and seed investments led for the year with 62% of total financings; in 2016, Singapore continued to be the region's most active fintech innovator with 52% of the year's total deals; the top three venture capital investors since 2012 are East Ventures, 500 Startups and Golden Gate Ventures. Source

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Europe Fintech News Roundup

·Mar. 20, 2017

Innovate Finance Announces Industry Leaders for Ambassador Program

Innovate Finance has announced eight industry leaders for a new ambassador program; Innovate Finance is one of the UK's most active trade associations for fintech; it's led by CEO Lawrence Wintermeyer; some of the program's industry leading ambassadors include Anju Patwardhan from the CreditEase FinTech Fund and Mike Sigal from 500 Startups; the ambassadors will be actively involved in the organization's upcoming Global Summit on April 10 and 11 in London. Source

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News Roundup Online Lending USA

·Mar. 20, 2017

SoFi Adds Three New Board Members

SoFi has announced the addition of Mike Bingle, Steven Freiberg, and Robert Joss to its board of directors; Bingle is a managing partner and managing director at Silver Lake, the company which recently partnered with SoFi for a $500 million funding round; Freiberg is joining the board after previously servicing as the CEO of E*TRADE Financial Corporation; Joss is currently a professor at Stanford and previously worked at Westpac Banking Corporation and Wells Fargo; Mike Cagney says the experience from the new board members will be helpful in supporting the firm's product and geographic expansions. Source

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Europe News Roundup Online Lending

·Mar. 20, 2017

Zopa’s Giles Andrews Joins MarketInvoice as Chairman

Giles Andrews launched Zopa, the industry's first peer-to-peer lending platform, in 2005; he has now taken on a new role as the chairman of MarketInvoice; MarketInvoice provides P2P financing for small business invoices giving them an alternative source for working capital; Giles Andrews will help the firm scale its business and reach its 2017 goal of 2 billion British pounds ($2.48 billion) in lending. Source

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News Roundup Online Lending USA

·Mar. 20, 2017

PeerIQ Weekly Industry Update 3/20/2017

This week's PeerIQ industry update focused on the OCC's special purpose bank charter and a trio of new securitization deals; the OCC charter is beginning to face some pushback from lawmakers who feel the OCC may be moving along too quickly; Marlette is looking to close their MFT 2017-1 securitization on March 23rd, the deal was $257.44 million but has upsized to $304.47 million; SoFi has a new offering, SoFi 2017-B, led by Bank of America and Deutsche Bank for $461 million; Avant is also heading to market with a $300 million securitization being led by Credit Suisse. Source

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Fintech News Roundup USA

·Mar. 20, 2017

USAA Customers Increasingly Using Biometric Authentication

The United States Automobile Association (USAA) was created to provide financial services for Americans serving in the military; the Association has seen significant adoption of biometric authentication which it first introduced for members in 2015; the USAA is currently reporting two million of its five million mobile app users opting for mobile account sign in using fingerprint, facial or voice recognition; the Association is actively integrating new biometric solutions and working with new providers. Source

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Fintech News Roundup Online Lending USA

·Mar. 20, 2017

Experian and Finicity Partner for Data Verification

Experian has partnered with Finicity to launch Digital Verification Solutions, a service that leverages Finicity's technology to connect with financial institutions for verifying income and assets; Experian is the first credit bureau to offer this type of solution; in addition to offering an enhanced service, the solution is also intended to help lenders broaden their credit underwriting for thin file borrowers; Finicity is also working with other lenders to help improve verification processes and shorten the end-to-end processing time for lending. Source

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Europe News Roundup Online Lending

·Mar. 20, 2017

Bondora Turns Profit, Continues Focus on Consumer Loans

The Estonian-based P2P lender turned a profit late 2016; hopes to turn an annual profit in 2017; revenues were 4.2 million euros (USD $4.5 million) in 2016; according to CEO Partel Tomberg: "Looking at the bigger picture, we were a bit looking for our place. We have tried a number of products, businesses and client segments over the years. By mid-2016 we understood that our focus has to be on what we started from – a faster and cheaper consumer loan product. And we understood that on the investment side it has to be an online product for the people, not so much for the banks or funds." Source

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News Roundup

·Mar. 18, 2017

Marketplace Lending News Roundup – March 18

During the week I share the latest marketplace lending news on Twitter...

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Fintech News Roundup

·Mar. 17, 2017

Technical Analysis Showing a Potential Crash for Bitcoin

While bitcoin's price has been reaching new highs its trading volatility has also been high; market momentum has recently been slowed by a number of factors including exchange regulation and new fees in China and the denial of the Winklevoss bitcoin ETF; Business Insider charts the cryptocurrencies progress and reports a double top with a neckline at $1,100 noting that if the price falls below the chart's neckline, technical analysis would indicate it's likely to fall even further, giving it a new expected average of approximately $900; given recent market factors a significant decrease in China trading volume and the technical analysis, bitcoin's price appears to be headed lower. Source

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