A chat about challenger banking in the US with Revolut’s US CEO...
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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A new survey by 12 Federal Reserve banks says 35 percent of...
Crowdfund Insider explores Sofi’s move to offer banking service without become a bank itself; the rent a bank model allows for FDIC insured accounts while Sofi gets to own the customer experience and offer these services without the regulatory burden of a bank; Sofi Money is set to roll out in 2018 and will offer 0.96% APY on accounts; there are no account fees and they will offer free ATMs internationally; many banks still have legacy systems and lack the culture of fintech companies so it will be interesting to see how they compete. Source
During the week I share the latest marketplace lending and fintech news...
The most popular digital banking startup, Chime, has created a pilot program...
This week’s PeerIQ Industry Update continues their coverage of earnings, this week...
Through Autonomous NEXT the research firm will provide a suite of products and services with in-depth analysis of banking innovation and fintech; Autonomous Deputy CEO Erick Davis says, "We discovered untapped demand for insight on financial technology and innovation, and are excited to bring this to market."; focus areas will include robo advisors, blockchain, neobanks, insurtech, chatbots and artificial intelligence; in its first available report the firm provides metrics on fintech growth by financial services category. Source
While writing in the FT Karen Petrou, Managing Partner of Federal Financial...
Asset allocation is an emerging concept increasingly being introduced to Chinese retail investors who have historically invested in highly volatile markets; CreditEase is one fintech company in the region seeking to educate and support more strategic investing through robo advisory services; the fintech company launched its Toumi robo adviser service in May 2016; the automated service provides advice for clients based on age, risk aversion and other preferences; it offers stable returns with low fees; with numerous cases of fraud from fintech investing in China more of the retail population is interested in safer robo advisory investment options; the country currently has approximately RMB 100 trillion ($14.5 trillion) in personal investable assets with nearly all the major banks developing new robo adviser services. Source
A new Senate proposal circulating yesterday would allow the Treasury and the...