The UK’s Financial Conduct Authority (FCA) has grown worried that ads 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.
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LendingPoint has made a name for themselves in the near-prime consumer lending...
The recent challenges with the online lending industry in China have been...
Since the onset of the pandemic banking customers have been forced to...
Credit Suisse plans to reduce its workforce by 6,500 jobs; the Zurich-based lender has reported significant losses primarily the result of a $2 billion provision for a settlement with the US Department of Justice over mortgage portfolios; the firm has already cut 7,250 jobs in 2016 and is focused on a new strategy under CEO Tidjane Thiam who was appointed in 2015. Source
Moody’s Investors Service had previously stated that companies like Ant needed to be more transparent about their asset-backed securities and their criteria for lending; Douglas Feagin, senior vice president of global business for Ant Financial stated, “The demand for these securities is very healthy and continuing to expand. That, at the end of the day, is the ultimate barometer of whether you're giving enough information to investors to invest. I think seeing that demand is evidence that we're sharing the right kind of information with them.”; article discusses the abs market broadly in China which has increased recently. Source
Payments.com provides an overview of small business lending activity worldwide; SME lending in China increased 17% from a year ago to $3.2 trillion; in London, over half of small businesses report being turned down for a loan; other highlights include SME statistics for Canada, a new SME financing platform from NatWest and rising rates in the US affecting SME borrowers. Source
The Online Lending Policy Institute has been formed to provide research and education on fintech and marketplace lending; Federal Reserve Governor Daniel Tarullo has resigned which is favorable for financial services deregulation as Tarullo was a driving force for higher capital standards; the PeerIQ weekly update also provides more details on President Donald Trump's executive order regarding financial services deregulation. Source
- Small-dollar lender Oportun to open 20 offices in Florida
- Ladder Secures $30M Series B Led by RRE Ventures
- NiYO Solutions Raises $13.2M in Series A Funding
- China's Renren Is Poised To Unlock Value From Its Investment Portfolio And Grow With Blockchain
- Chase Partners with AutoFi to Deliver Digital Car-Buying for Dealerships across the Country
- RealtyMogul Hires New Chief Investment Officer
- Online Marketplace Lender Nav Facilitated More Than 20,000 Small Business credit Approvals in 2017
- Dianrong Signs Strategic Agreement with Dalian Finance Development Bureau & Dalian Finance Industry Investment Group
- Spread Bettor IG Among Biggest Holders of Bitcoin Futures
- Fifth Third regains top CRA grade, an entree to M&A
- Roostify adds tech veteran Adnan Habib as vice president of engineering
BlockFi offers loans to those who own cryptocurrencies; the company is currently in a beta launch and is lending in 35 states; ConsenSys Ventures, Kenetic Capital, PJC, SoFi, Purple Arch Ventures and Lumenary participated in the round. Source