Leading the news this week is Sam Bankman-Fried giving a public appearance, Larry Fink like tokenization, BlockFi filed for bankruptcy and more
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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Facial recognition technology is just starting to take off as it is...
The Singapore Exchange has closed a deal with online debt and equity crowdfunding platform Crowdo with terms of the deal including support for raising small and medium enterprise (SME) awareness or capital funding availability in Singapore, information sharing and cross-referral of clients; similar deal terms were included in the Singapore Exchange and PwC deal with promotion of the Singapore startup ecosystem a central component of the deal. Source
Kabbage CEO Discusses Online Banking Collaboration (Podcast) Top US-Based FinTechs Making a...
Goldman Sachs said that their loan business would contribute almost half of the $5 billion in revenue growth it is projecting by 2020; the company will put $28 billion towards loans in the next three years in order to grow that part of the business; Revenue growth has remained flat since the financial crisis and trading revenues remain stagnant. Source
This week we are doing a deep dive into embedded finance on...
While giving a keynote speech at LendIt Europe 2017 Upgrade CEO Renaud Laplanche laid out his three biggest predictions for the near future; the growth of online lending will accelerate in the next 15 months, a meaningful secondary market will develop and rebundling will give birth to one major consumer product innovation in the next 15 months. Source.
As the government cracks down on riskier lenders the more established brands of Ant Financial and Lufax look to become even more dominant; China’s top ten online lenders account for 36 percent of all loans and that number looks to continue to rise as smaller lenders look to be on their way out; the top lenders use spending analysis, AI and more to determine creditworthiness of borrowers; with the rise in wealth and spending power in China the dominant fintech firms are ideally positioned. Source.
The China Banking Regulatory Commission (CBRC) has issued a new guidance document titled, "Guiding Opinions on Risk Prevention and Control in the Banking Sector"; the document targets banking institutions and their risk prevention efforts related to internet finance businesses; it focuses on ten types of high priority risks and emphasizes the requirement that P2P lenders partner with a custody bank; in addition to further details on broad market rectification it also includes emphasis on student lending and microloan businesses. Source