The Chinese p2p lender has laid off as many as 2,000 employees...
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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Most people likely assume their funds are kept in a traditional bank to be drawn upon when transacted because — let's be honest — no one reads the terms and conditions.
Wealth Migrate is claiming to be the first real estate online investing platform that has incorporated blockchain technology; the company focuses on cross-border real estate investing; blockchain is being applied to defining and recording smart contracts and a decentralized, unalterable record of investment transactions. Source
Deutsche Bank has reported increased defaults in commercial mortgage backed bonds tied to malls and retail stores that they underwrote in 2012 and 2013; the bank is suggesting investors short the BBB- rated portion of the 2012 Markit CMBX price index, known as the series 6, which they say is tied to these investments; their analysis sees these bonds with pre-crisis attributes which successful investors shorted to avoid losses. Source
The real time payments network Zelle has added new tech partners to their growing network; partners include ACI Worldwide, CGI, D3 Banking Technology and IBM; the new partners will help to accelerate technology, reduce risk and control costs for Zelle as their payments network grows over time. Source.
Juniper Research has released a study titled, "Fintech Futures: Market Disruption, Leading Innovators & Emerging Opportunities 2016-2021"; study finds that fintech platform revenues generated from supporting the insurance industry will total approximately $175 billion in 2016; the analysis projects that these platform revenues will grow at an annual rate of 34% with revenue of $235 billion globally by 2021; Juniper Research says growth will be driven by machine learning, increased use of mobile apps and blockchain technology. Source
Swedish open banking platform Tink, undeterred by the evolving financial crisis, has...
In documents reviewed by the FT Ant Financial says they now have...
When you login to your account at either Lending Club or Prosper...
SoFi originated $12.9 billion and sold more than $2 billion in loans in 2017; Ashish Jain, senior vice president of capital markets provides some insight into how hard the team worked to ensure their success in 2017 stating, “We were willing to do calls at any hour, to assure them the quality of product was high, and that there weren't any issues on these loans they were buying. Synovus and Citizens were among the banks that bought SoFi loans last year.”; Jain reports that all of their investors are still buying and they have brought in new investors after Mike Cagney left the company. Source