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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.

Fintech News Roundup

·Nov. 17, 2016

Global Fintech Investment Continues Downward Trend in Q3

According to a new research report by KPMG and CB Insights, the number of deals and total value of venture capital investment dropped in Q3 to $2.9 billion down from $9.4 billion in Q2; the report points out that the significant drop was due in large part to a $4.5 billion investment to Alipay owner Ant Financial in Q2; while Asia investment remains strong, UK investment was hurt due to Brexit uncertainty and the US market saw a decline due in large part to the presidential election; overall investment trends remain positive as the amount invested for 2016 is on track to surpass 2015. Source

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Fintech News Roundup

·Nov. 17, 2016

Innovate Finance Provides Data on Global Fintech Investment

Innovate Finance has reported global investment in fintech trending higher; details reported to Crowdfund Insider cite an increase of 27% in 2016 with investment for the year at $15.2 billion with 839 deals; UK fintech investment has slowed while investment in China has been increasing; Innovate Finance says China has reported the top three fintech investment deals globally with funding for Alipay, Lufax and JD Finance; in the US, insurtech firm, Oscar, has led investment fundraising with funding of $400 million. Source

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Fintech News Roundup

·Nov. 17, 2016

Mckinsey Reports on Seven Factors Affecting Fintech

Mckinsey has released a new report on fintech; report focuses on seven changes in fintech that could affect the industry; factors include expanding scope, increasing diversity, improving collaboration, impending consolidation, normalizing valuations, shifting regulations and emerging ecosystems. Source

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Fintech News Roundup

·Nov. 17, 2016

Investors Pull Funding from 30 Deals Due to Brexit

According to Lawrence Wintermeyer, head of Innovate Finance, 30 fintech startups had their funding cancelled or postponed by investors since the Brexit vote, forcing them to seek urgent funding elsewhere; in addition to local investors pulling their capital, startups have also said that funding from international investors has stalled due to the uncertainty surrounding the Brexit process; while the UK struggles, other European cities like Berlin have been actively recruiting firms to relocate. Source

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News Roundup Online Lending

·Nov. 17, 2016

Small Business Marketplace Lending Trends

Data from Moody's and the Federal Reserve shows that marketplace lenders are significantly serving small businesses with revenue less than $1 million; demands are differing for marketplace loans from micro businesses versus established businesses with greater than $1 million; micro businesses are seeking longer-term loans while established businesses are utilizing marketplace lenders for lines of credit; source says trend toward marketplace lending and bank partnerships could help to lower rates for small businesses. Source

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News Roundup Online Lending

·Nov. 17, 2016

Peter Renton on the London Fintech Podcast

LendIt Co-Founder Peter Renton sits down with Mike Baliman of the London Fintech Podcast; Peter talks about the key themes across the US including the capital challenges of 2016, securitizations and the Lending Club incident; they also discuss the China market, its size and some of the misconceptions about the P2P lending industry there. Source

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News Roundup North America Online Lending USA

·Nov. 17, 2016

Prosper’s October 2016 Performance Update

Prosper released its October 2016 performance report with the month's estimated return of 7.12% just below the estimate of 7.17% for the third quarter; in October, vintage prepayment rates continued to trend higher; delinquencies and loss patterns since 2013 are below levels in 2012; cumulative gross charge-offs appear to be a factor trending higher; average FICO of the portfolio was 714.1 in October. Source

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News Roundup North America Online Lending USA

·Nov. 17, 2016

Quicken Loans Court Case on Trial in Detroit

The Department of Justice's case against Quicken Loans will be heard in Detroit; in an ongoing case filed in April 2015, the Department of Justice says Quicken Loans used faulty underwriting processes to certify Federal Housing Administration (FHA) loans while disregarding FHA rules; Quicken is a direct endorsement lender for the FHA and the loans in the court case were originated from September 2007 through December 2011. Source

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News Roundup Online Lending

·Nov. 17, 2016

The Massive Opportunity of Millennial Borrowers

In an article from The Financial Brand they highlight the opportunity for banks and credit unions as millennials reach adulthood, warning that failing to crack the "millennial code" of what makes millennials unique may be fatal to lending opportunities; there are many promising statistics including an estimated 86 million potential millennial customers; according to the US Census Bureau, by 2028 millennials will become the majority of peak and legacy profit groups. Source

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Europe Fintech News Roundup

·Nov. 17, 2016

Mobeus Funds Management Buyout of Factor 21

Factor 21 has done a management buyout with funding from Mobeus; the private equity firm provided a 9 million british pound funding line for the buyout; Jonathan Gregory of Mobeus will join Factor 21 as investor director; Factor 21 has been in business for over 15 years and has provided invoice funding of over 2 billion british pounds; the management buyout funding will help the firm grow business at its two regional offices. Source

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