AirFinance has helped to expand marketplace lending capabilities in the aviation finance market through a recent launch of FlyFunder: a closed-network connecting financiers, investors, used aircraft brokers and aircraft developers.
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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In light of the coronavirus crisis the consumer lender has opted to...
The deal marks the first blockchain powered sustainable “Schuldschein” loan and totaled...
The UK recently visited China on a trade mission and signed a number of fintech deals worth more than $1.8bn; the deals are looking to create a deeper partnership between the nations and potentially create more than 850 jobs; deals include Innovate Finance and NIFA's memorandum of understanding, CurrencyCloud and X-Transfer's partnership and UK fintech R5FX's collaboration with Shanghai Clearing House. Source.
Source reports on the operational costs associated with loans and how automation and artificial intelligence (AI) can help reduce those costs; automation can now replace manual processes such as credit checks, data consolidation, onboarding, loan documentation, know your customer and more; robotics and AI are also assisting in risk analysis for SMEs; additionally, machine learning solutions have also been evolving to evaluate thousands of data points from various sources; as these solutions evolve, banks too will need to integrate greater automation to stay competitive. Source
The Financial Conduct Authority (FCA) works with the Financial Services Compensation Scheme (FSCS) in the UK to protect investments for consumers; the FSCS is comparable to the Federal Deposit Insurance Corporation (FDIC) in the US; the FCA is currently conducting research and undergoing consultation on the crowdfunding market; current consultation has involved communication between the FSCS and FCA on potential solutions for insuring funds; it's not likely that insured funds will be integrated into the FCA's new crowdfunding regulations however the two agencies are discussing options. Source
The Royal Bank of Scotland's NatWest Brand has announced the launch of direct lending platform Esme; the platform will offer loans up to £150,000 ($187,257) for small and medium-sized businesses with approvals in one hour; NatWest developed the Esme platform internally through an innovation lab; the platform was developed to provide a more competitive loan offering and will also support initiatives for cost reduction. Source
According to new data from the Federal Reserve mobile payments have seen a big growth among consumers but fraud has also risen; the shorter clearing period looks to have opened banks on the Zelle network to more potential for fraudulent transactions; Zelle has been using multi-layer and multi-factor authentication during the enrollment process; as banks look to innovate to suit their customer needs they are also looking at newer ways to protect themselves against threats that are evolving just as quick. Source.
Innovate Finance's CEO Lawrence Wintermeyer has left the association to pursue other opportunities; Wintermeyer served as CEO for two and a half years and helped the association increase its membership to 250 members; Charlotte Crosswell, former CEO of Nasdaq NLX, has been appointed as the association's interim CEO while it searches for a successor. Source
With Figure in the news this week completing their first securitization using...