Community Banks are utilizing the plug and play partnership to innovate as...
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.
To join our newsletter community please subscribe here.
According to Kai-Fu Lee, founder of venture capital firm Sinovation Ventures, robots could replace 50% of all jobs in the next decade; artificial intelligence capabilities such as rapidly dispersing loans or recognizing millions of faces at the same time can make businesses much more efficient; while humans will still represent a significant portion of the labor market, specifically in service jobs, the efficiencies of artificial intelligence solutions make them hard to overlook. Source
Flender, a marketplace lending platform in the UK, is seeking to raise 500,009 british pounds from an equity crowdfunding campaign on Seedrs; the company offers P2P loans through a mobile application; the firm's business model seeks to connect borrowers with lenders in their social network helping to facilitate social network lending. Source
Fosun Group has invested in Shanghai Distributed Technologies (SDT); the amount was in the tens of millions of yuan; SDT works on blockchain with financial firms and has a joint venture with the Guiyang city government to develop blockchain-based systems for public services; SDT is a startup behind Onchain, which is founded by Da Hongfei, one of the earliest blockchain participants in China. Source
Ireland is working to bolster their claims to be a destination for...
ID Analytics introduced the Online Lending Network in October 2016 with the goal of providing greater resources to lenders for mitigating fraud; Online Lending Network members access internetwork supplied data and information from ID Analytics for greater detection of fraudulent loan applications and loan stacking; ID Analytics reports that the network has achieved visibility into 75% of US domestic marketplace lending activity since inception with membership increasing by 50% since its launch. Source
Marcus is now three years old and the bank has big ambitions...
According to Financial Times, this marks the first commercially viable trade finance...
Happy State Bank in Texas started using digital tools in a bigger...
LendFoundry has developed a full operating system for marketplace lenders, banks and credit unions to provide online loans; Roger Vogel the firm's CEO talks about the operating system and how the business is evolving; also reports on the wide range of capabilities that the operating system offers including its APIs and services for compliance, loan originations and loan management. Source