Dobot was launched in 2016 and was acquired by regional bank Fifth...
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.
LendIt Fintech USA 2020 is coming to your desktop on September 29...
New Resource Bank has been offering asset based loans through a partnership with P2Bi and the agreement could help to establish a template for smaller banks working with fintechs; the partnership is a win-win for P2Bi with more leads and the bank as they get to more efficiently work through customer relationships that might normally take more time and energy than it would be worth. Source.
Fidelity recently conducted a survey which found that about half of institutional...
Smaller dollar loans can be very profitable and are often provided by...
Lend Academy looks at 10 years of data from Lending Club and Prosper; shares data on returns over the time period and where current returns are trending. Source
The deal would add to market competition for retail credit, specifically competing directly with Wal-Mart credit cards; Wal-Mart plans to begin a pilot program with Affirm that would offer installment loan plans in select locations and for a targeted group of online customers; source reports that the installment loans will focus on costlier items of $200 or more; with an Affirm partnership, Wal-Mart could seek to reach an expanded market demographic, specifically customers with limited credit histories; Affirm uses alternative underwriting methods and its loans average approximately $750 with repayment periods of three to 24 months and fixed annual percentage rates ranging from 10% to 30%. Source
Russia's Sberbank will integrate new artificial intelligence (AI) to replace 3,000 employees in its legal department; the AI solution follows comments from CEO Herman Gref in September 2016 which forecasted that 80% of the bank's decisions would soon be attributed to AI systems; as AI solutions evolve, regulators are considering industry standards and frameworks for changing labor markets. Source
Banking data aggregator Plaid has acquired their main competitor Quovo in a...
Andrew Dix is the CEO and Founder of Crowdfund Insider, a website...