A new report by ratings agency Fitch says digital banks could be...
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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Fed Lacks Ammo; Varo Wins Race for Charter; Visa Enters POS CIT...
Amazon Lending first launched in 2011 and now is partnering with Bank of America Merrill Lynch according to sources; Amazon invites sellers to the program which provides loans between $1000 and $750,000; in June, 2017 Amazon announced it had lent $1 billion over the previous 12 months; recent reports show that Amazon has slowed growth of the product in 2017 to better understand credit risks. Source
The API platform will help support banks connectivity with fintech developers; it will provide easy access for new apps and services while also facilitating new innovative solutions for financial institutions; the platform is designed for universal access allowing developers to offer connectivity to multiple institutions through the TrueLayer API platform; the platform also provides for regulatory compliance; its release will significantly promote the development of fintech apps which now have a substantial market opportunity available in the UK due to PSD2 regulations which require financial institutions to allow third parties to access customer data; the private beta API platform is currently available in the UK and the company has plans for expansion to other countries in Europe in 2017. Source
Expense management start-up Payhawk lands $3.3m seed capital US Bank connects customers...
Buying and selling of cryptocurrencies may be available as soon as June, but the bank is still working on how it will store them; Goldman remains one of the few banks who are leading the charge when it comes to trading cryptocurrencies and it remains to be seen whether other banks will follow suit. Source
During the week I share the latest p2p lending news on Twitter as it...
Mastercard is launching a partnership with UK fintech Yoyo Wallet; Yoyo is...
Last week Lending Club quietly removed a feature that had been present...
Fabric is a new insurtech startup that is looking to focus on new and expecting parents; they currently have two offerings, Fabric Instant and Fabric Premium; Fabric Instant is an accidental death policy which you can obtain in two minutes with minimal information and Fabric Premium is their 20 year policy which requires a checkup; they recently raised a $2.5 million seed round from Bessemer Venture Partners for their launch and continued product development; policies are currently underwritten by Vantis Life Insurance at $6 per $100,00 of coverage. Source