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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.

News Roundup Online Lending USA

·Nov. 1, 2016

CEO of Earnest Speaks with Jim Cramer on Mad Money

Louis Beryl, CEO of marketplace lender, Earnest, speaks with Jim Cramer about the firm's credit evaluation process; Cramer discusses Earnest's lending specialization which focuses on student loan refinancing but also includes personal loans; Beryl primarily talks about Earnest's edge in credit underwriting which considers a borrower's full financial profile including additional details on assets and bank accounts; this is facilitated by direct connection to online banking accounts; Beryl says Earnest has passed the $1 billion lending mark with $300 million saved for clients using the company's online lending technology. Source

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Fintech News Roundup

·Nov. 1, 2016

Ant Financial’s Focus Still on Asia

Alibaba's fintech arm, Ant Financial, is looking to increase their Asian market share before taking on more expansion plans worldwide; while at an event in Thailand to launch a partnership with payment firm Ascend, senior company officials explained the current focus is on 370 million people in Asia without bank accounts; in addition to the Thailand partnership, the company partnered with India's PayTM last year and has secured licenses to operate in Hong Kong; according to Senior Vice President, Douglas Feagin, there were no set plans or venue for a potential initial public offering, though there were benefits to going public. Source

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Europe News Roundup Regulation

·Nov. 1, 2016

Regulatory Reform in France Broadens Crowdfunded Offerings for Companies

A second regulatory reform focused on crowdfunding has gone into effect in France; the reform will broaden the offerings available for crowdfunded investing and lending; on crowdfund platforms, companies can now raise 2.5 million euros in equity funding through simple shares, plain vanilla bonds, preferred shares, participatory notes and convertible bonds; on crowdlending platforms, borrower limits were increased for qualified lenders to 2,000 euros individual lending per project; the reform also introduces new minibon debt securities. Source

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News Roundup Online Lending

·Nov. 1, 2016

Yirendai’s Stock Price and Activity Strengthens

Yirendai has announced it will release its Q3 unaudited earnings on November 15, 2016, after the US markets close; analyst Peter Engelwood is reporting that in the last quarter, institutional investors have increased their percentage holding of Yirendai's equity by 1.53%, to a total of 6.20%; the stock has risen from approximately $20 to $29 in the past month. Source

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News Roundup Online Lending USA

·Oct. 31, 2016

SoFi is Planning to Offer Life Insurance

SoFi has begun to acquire state life insurance licenses and is working with Protective Life Insurance Co. on a life insurance partnership; known for student loan refinancing, life insurance would add to the company's expanding product offerings which now include mortgage loans, personal loans and wealth management. Source

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Finance News Roundup USA

·Oct. 31, 2016

Fed Meeting This Week Could Outline Plans for a December Rate Hike

With improved labor market data and a better than expected third quarter GDP report on Friday, the Federal Reserve is expected to outline plans for a December rate hike at its November Federal Open Market Committee Meeting (FOMC) this week; economists are expecting verbiage similar to that used last October before the Fed's last rate increase, indicating the economy was on target to meet the FOMC's objectives. Source

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News Roundup Online Lending Regulation USA

·Oct. 31, 2016

Lend Academy Podcast: Nat Hoopes of the Marketplace Lending Association

The Marketplace Lending Association was launched in April of 2016 and is one of the industry's leading advocacy groups; in September it hired Nat Hoopes to lead the Association and represent the industry in Washington, D.C.; Lend Academy interviews Nat Hoopes in their most recent podcast, providing details on his background in the industry, the evolvement of the MLA and his insight on the current regulatory developments affecting marketplace lending. Source

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Fintech News Roundup

·Oct. 31, 2016

Blockchain Utilization Increasing in the Insurance Industry

Blockchain has the capability to help improve the insurance industry in a number of ways specifically lowering costs and helping to process claims; P2P insurance platforms are already taking advantage of blockchain's capabilities; Dynamis is one leading example, recently receiving a $2.6 million investment for their P2P insurance platform built on blockchain; according to TechCrunch other areas of the insurance market likely to utilize blockchain include parametric insurance and microinsurance. Source

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Europe Fintech News Roundup

·Oct. 31, 2016

HSBC Has 3000 Staff Working on Innovation

HSBC has moved 3000 members of its staff into a new building and are viewing this digital group differently than their core suit-and-tie employees; the bank believes separating them out will better help to fuel new innovative ideas; HSBC CEO Stuart Gulliver said, "To survive for 150 years we've had to evolve. Most of the risk we've dealt with is political. Actually what's happening in the digital space is there is a threat, particularly to retail banking... in payments, in wealth management." Source

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Europe Finance News Roundup

·Oct. 31, 2016

Former Barclays CEO Launches Startup to Improve Banking Back Offices

10x Future Technologies, founded by former Barclays CEO Antony Jenkins, is developing a cloud-based core banking system that will allow banks to hold deposits and accounts; the company believes their technology will give banks better access and insights into clients' data; this new tailored access will allow the banks to offer products that will better fit their customers' needs. Source

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