According to a new report by the Cleveland Fed online SMB lenders...
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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Most p2p investors with Prosper or Lending Club want to know one piece...
Here are the most read news stories from our daily newsletter today:...
Gabriella Kinder, head of alternative credit at NN Investment Partners, writes a piece in AltFi focusing on where the lending gap is since the end of the financial crisis; she explains that the lending gap has been reduced and alternative lending has opened up opportunities; while banks are in better shape they still face challenges on the digital front and credit has been increasing since the start of 2015; overall the gap has reduced and new opportunities have opened up as finance has become more diversified and digital in recent years. Source.
The UK Chancellor of the Exchequer Philip Hammond will announce the creation of a task force focused on cryptocurrencies; the task force will include the Treasury, the Bank of England, and Britain's financial watchdog the Financial Conduct Authority; the task force will help manage the risk surrounding cryptocurrencies and better understand how blockchain technology can be implemented. Source.
Bankers Expect A Profit Bump From Open Banking R3’s Corda Network goes...
Goldman Sachs head of commodities research, Jeff Currie, told Bloomberg TV that bitcoin is a commodity though with less liquidity than gold; he explains, “"It's a commodity. A security, by definition, has a liability attached to it. Take a dollar bill, it has a liability to the US government. Commodities do not have liabilities.”; similar to gold it is not backed by a government or a company but is significantly more volatile. Source.
Zillow had recently shared in March that their Zillow Offers program would...
China’s central bank announced new regulations to curb risk in the asset management space; the new rules are an attempt to unify regulatory areas, prohibit asset managers from guaranteeing returns and have them set aside 10 percent for provisioning; “The central bank is trying to thread a very fine needle,” said Andrew Polk at Trivium China, a Beijing consultancy. Source.
JPMorgan Chase and PNC, two of the largest banks in the country,...