DecisionHawk seeks to provide a service for advising and educating small businesses on market financing options; the firm is led by entrepreneurs experienced in business owner consulting; they have released DecisionHawk, a software solution offering problem solving, education and collaboration; driven by big data analytics DecisionHawk can be used for a range of business decisions including: debt capital financing, equity capital financing, business insurance and business referrals. 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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CYBG recently made a takeover approach of rival Virgin Money as challenger...
The Ontario Securities Commission (OSC) has published their annual report sharing that they are monitoring P2P lending, digital crowdfunding and online advisors; to date the OSC has supported 38 fintech companies with the OSC LaunchPad; the LaunchPad was created for businesses that don’t fit neatly under existing regulation. Source
The Federal Council of Switzerland is seeking to make the regulatory framework more flexible for fintech companies; they have instructed the Federal Department of Finance to devise a policy statement setting such a direction; recommendations to be considered include: (a) setting a maximum of 60 days for holding money in a settlement account, which will make settlements better aligned with crowdfunding project funding deadlines, (b) creating of an innovation sandbox in which a platform can accept funds up to CHF 1 million, and (c) establishing a new fintech license, with fewer restrictions than on traditional banks. Source
Newly launched marketplace lender Float is using alternative credit scoring to reach a target market of credit averse borrowers; the firm is seeking to provide credit to millennial borrowers with limited credit history; offering a digital lending solution for balancing customers' finances; the firm offers credit lines ranging from $50 to $1,000 and instead of pulling traditional credit reports for credit underwriting, the firm bases its approval decision from access to a customer's bank account transactions. Source
FinSight Ventures, a global venture capital firm focused on fintech companies, is seeking a portfolio manager for investing in real estate loans; the position will first be on a consulting basis which may lead to a permanent role; the firm has invested in companies such as Earnest, Dianrong, Lending Club and Financeit.
LendUp aims to improve the financial health of their customers through various products and initiatives; the interview covers a wide variety of topics including the subprime customer in the US, who they lend to today, their 2018 plans, their proprietary technology and more. Source
Venmo users have started to use the payments app to show their...
Customers of Citizens Financial Group were not able to access only or...
Renaud Laplanche launched his new online lending firm at the beginning of April; Upgrade raised $60 million for its launch and is reportedly valued at $168 million; the company will compete directly with many unsecured consumer lenders offering loans from $2,000 to $50,000; a key part of the offering will be a mobile app to help borrowers manage their finances which has yet to be released. Source