AI solutions provider Personetics has developed an autonomous technology dubbed Self-Driving Finance...
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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UK based p2p lenders RateSetter and Assetz Capital are pushing the government...
The founder of Metro Bank, a UK challenger bank, says app-only banks are "all hype" and sees them more as a provider of solutions and not banking; Vernon Hill told Business Insider in an interview that Metro Bank has been around for six years, has a market cap of $3.2 billion but only started to become profitable now; he went on to say: "No mobile-only bank can deliver anything I can't deliver in the next minute and a half. What they're offering you is a tool, not a solution. The customer wants the best of every channel and my job is to deliver them the best of every channel." Source
Passporting could increase fintech competitiveness across Europe as the UK prepares to leave the European Union; passporting would lower regulatory requirements for fintech firms in the European Union allowing them to operate more freely across Europe; it would also create greater incentive for firms to move their business to the European Union and away from London; the European Commission has launched a three month consultation period on passporting and new legislations for fintechs which will be followed with legislative proposals; on Thursday, March 23 the European Commission also published a plan for European Union financial services companies that will focus on reducing costs and increasing consumer protection. Source
Facial recognition technology is just starting to take off as it is...
In the market today there are so many great options for low/no...
The partnership with Sino Guarantee will provide lending capital of RMB 500 million to China Rapid Finance also helping the marketplace lender to develop and offer lending products on wealth management platforms; Bank of Shanghai will also provide capital support as well as payment channels and fund custody services. Source
PeerStreet is a platform founded by Brew Johnson? and Brett Crosby; initially launched to take advantage of inefficiencies in the real estate market, the platform has grown to service a wide range of accredited investors; the platform has originated over $200 million in real estate loans; it attributes its success to the platform's focus on short-term, first position lien loans, and a robust legal and compliance team; Brew Johnson will be speaking at LendIt USA 2017 on a panel discussing "Residential & Commercial Real Estate: What's next for real estate crowdfunding?" Source
Banks are feeling the hurt like everyone else and they need to...
Banks can take a lot of lessons from Facebook in regards to the ongoing data problems with Cambridge Analytica; as data sharing becomes commonplace in banking, banks and their partners need to ensure information is kept secure and not used for nefarious reasons. Source.