Wells Fargo has been active in biometrics; in 2014 it launched a startup accelerator led by EyeVerify which it now uses for eyeprint verification with its commercial banking customers; it is also working with Kasisto in its startup accelerator and plans to launch some virtual assistant offerings for employees and customers; it has also now announced a refocused effort in its Innovation Group that will be dedicated to AI, payments and application platform interfaces; Wells Fargo's management is committed to biometrics and the firm wants to be a leader in the technology with a specific focus currently on voice recognition. Source
News Roundup
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The new platform will be called easyMoney and they are launching with an Innovative ISA; investors will be able to allocate to peer to peer loans which are backed by property; easyMoney has a return target of 4% and has plans for other personal finance products in the future. Source
One of the main drivers behind the massive BB&T – SunTrust deal...
NewOak will invest up to $2 billion in loans originated by Canadian online lender LendingArch over the next three years; NewOak will also make a significant contribution to the strategy of the firm; the New York-based asset management and institutional advisory firm will take an advisory role with LendingArch supporting its business development and capital markets strategies. Source
RateSetter has announced new terms for its lenders which will go into effect on March 1; the new terms provide increased transparency for lending activities; they also give greater flexibility to the Provision Fund through a new stabilization period; changes made to the lender terms since October 2015 can be found here. Source
A venture capitalist blogpost from avc.com provides some interesting predictions for 2017; expects the US stock market to continue its bullish trend higher into the first half of 2017 with support from corporate and personal tax cuts from President Trump; thinks tech initial public offerings (IPOs) will increase in 2017; Google and Facebook will see some challenges as monopolies; software as a service companies will consolidate; artificial intelligence (AI) will continue emerging with corporate AI strategies a top priority for businesses; venture capitalists will invest in genomics and biometrics; crypto programming will be important for cybersecurity. Source
The regulator says, "digital tokens in Singapore will be regulated by the Monetary Authority of Singapore (MAS) if the digital tokens constitute products regulated under the Securities and Futures Act"; if digital tokens fall under the definition of securities in the Securities and Futures Act then issuers are required to register a prospectus with MAS and other requirements may also apply to associated parties; overall the statement from the MAS increases the level of compliance needed for an initial coin offering. Source
Affirm has dominated the market when it comes to point of sale...
Euro Exim Bank in London has announced it has embraced XRP and...