News Roundup Archives | Page 604 of 715

Latest

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.

News Roundup Online Lending

·Jan. 30, 2017

Biz2Credit and Citigroup Partner for Small Business Online Lending

Citigroup has a new small business loan offering offered through a branded partnership with Biz2Credit; the partnership follows new small business offerings from JPMorgan and Wells Fargo; Rohit Arora from Biz2Credit said the partnership has not been widely publicized because it is in very early stages; small business lenders use a website interface managed by Biz2Credit that submits their information to a Citigroup banker for follow up; Arora also said the new small business loan offering is part of the bank's Community Reinvestment Act obligations. Source

Read Full Story

News Roundup Online Lending USA

·Jan. 30, 2017

PayPal Discusses Potential Amazon Partnership

PayPal's fourth quarter earnings release revealed a number of interesting developments for the company; the firm has been steadily growing its partnerships with e-commerce businesses which has helped increase the number of payment transactions per customer; in the fourth quarter PayPal reported 31.1 transactions per active customer which was an increase from 30.2 in the previous quarter and 27.5 in the comparable quarter; PayPal's CEO Dan Schulman has also discussed a new partnership with Amazon that would allow Amazon customers to pay for purchases with PayPal which would further support increases in its customer account activity. Source

PayPal Earnings Report

Read Full Story

News Roundup Online Lending USA

·Jan. 30, 2017

ABA Seeking Marketplace Lending Partner

According to Reuters, the American Bankers Association (ABA) is soliciting a marketplace lending partner; the Association acts as a consultant for small banks with less than $250 million in assets and the partnership would help the ABA in its vendor consulting efforts for these small banks; small banks are one subset of the market that has expressed significant interest in online lending and online lending partnerships. Source

Read Full Story

Fintech News Roundup

·Jan. 30, 2017

Condor Capital Compares Robo Advisers

Condor Capital Management's Ken Schapiro analyzed the market's robo adviser offerings by opening and funding more than a dozen accounts with a similar investment profile; all portfolios included an allocation of 60% equities and 40% fixed income however each followed the robo adviser's suggestions within those two categories; the results showed one year performance ranging from 10.75% to 5.55% with international holdings and bond fund variations significantly affecting the returns. Source

Read Full Story

News Roundup Online Lending USA

·Jan. 30, 2017

How One Regional Bank Built a Platform to Compete with Online Lenders

Boston-based Eastern Bank hired a former Capital One executive, Dan O'Malley, to help the bank learn how it can compete with the growing online lending industry; through his research Dan learned that 5% of Eastern's business customers used an online lender and the primary reason for this was quick access to capital; Eastern now has a competing product to offer small business customers and has even begun to license out their technology to fellow banks; Eastern believes their credit scorecard will allow for banks to utilize their new technology more than they would with an online lender because of their adherence to banking regulations. Source

Read Full Story

Fintech News Roundup

·Jan. 30, 2017

Lend Academy Podcast: Hardeep Walia of Motif Investing

Motif Investing provides a unique platform for investors interested in investing in stocks based around different themes; Lend Academy interviews Hardeep Walia in their podcast which provides more details on the investment platform; Motif allows investors to build a thematic investment portfolio with low trading costs; it has over 300,000 investors and is also working with institutional clients. Source

Read Full Story

News Roundup Online Lending USA

·Jan. 30, 2017

SoFi’s New Securitization

PeerIQ analyzes SoFi's new securitization, SCLP 2017-1; SoFi's unsecured consumer loans securitization portfolio was priced on January 20; the securitization was oversubscribed resulting in final collateralized loans of $655 million; the securitization is now the industry's largest securitization portfolio issuance; it included two rated tranches from DBRS and Kroll; tranche A included loans valued at $504 million with an A rating from both DBRS and Kroll; tranche B included loans valued at $60 million with a BBB rating from both DBRS and Kroll. Source

Read Full Story

Asia/Pac Fintech News Roundup

·Jan. 30, 2017

Record Number of Digital Transactions Expected for the Chinese New Year

Red envelope gifting is a Chinese New Year tradition that has become digitized as a result of advanced payment processing; the January 27 weekend marks the beginning of the Chinese New Year and the country is expected to transact over 100 billion digital envelopes, an increase from 32 billion in 2015 which reported a 1,000% increase from the prior year; payment processors integrated with social media have increasingly been gaining market share and supporting digital transaction growth; bitcoin transactions are also expected to increase for the Chinese New Year. Source

Read Full Story

Fintech News Roundup

·Jan. 30, 2017

Bots Are Beginning to Make Inroads at Banks

Banks are coming under increasing pressure to update legacy systems and provide a more digitized experience to customers, automated bots are another tool beginning to be used; while most banks are still in pilot mode, some are beginning to have wider adoption as they have seen how technology in other areas of the bank have improved efficiency and experience; "The technology works and banks are starting to have more confidence in them," explained KPMG's Managing Director for Emerging Technology Risk Services Kiran Nagaraj, bots can help make interaction with customers more efficient and allow for high-volume, repetitive processes and tasks to be done a lot faster. Source

Read Full Story

Fintech News Roundup

·Jan. 30, 2017

Video: Blockchain and Syndicated Loans

Caitlin Long, chairman and president of Symbiont, talks about why blockchain technology is ideal for syndicated loans; syndicated loans are some of the most complexly structured loans in the credit market; they involve multiple originators for a single loan and add significant balance sheet capital for corporations; blockchain could help reduce the syndicated loan deal funding process currently averaging over 20 days; it could also streamline documentation and loan processing providing significantly improved transparency and also supporting better loan market trading activities; Caitlin will be speaking about blockchain and its integration with loans at LendIt USA 2017. Source

Read Full Story