Billionaire investor Mike Novogratz has 10% of his money invested in bitcoin; the former hedge fund manager and Goldman Sachs partner began betting on the digital currency in 2013 and has benefited from its one year gain from $500 in 2016 to a current price of over $1,200; to manage some of the risk of bitcoin's price volatility Novogratz suggests sector diversification; he is an investor in cryptocurrency ether which has seen a price increase from $1 to over $48 and is also a proponent of blockchain. Source
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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Consumer lender Avant filed documents with the SEC for a new unsecured consumer loan portfolio, Avant Loans Funding Trust 2017-A; the ABS deal looks to consist of 41,250 unsecured consumer loans, though the total portfolio pricing has yet to be released; the deal was audited by Deloitte; banks involved in the transaction include J.P. Morgan Securities LLC, Credit Suisse Securities LLC and Morgan Stanley & Co. LLC. Source
Amazon partnered with Affirm to offer BNPL to their North American customers.
OakNorth’s latest partnership is similar to the one recently announced with Customers...
Deloitte has released a report on global fintech hubs with London reported as the strongest fintech hub for the second consecutive year; the report was generated in collaboration with Innovate Finance and released at the Innovate Finance Global Summit in London; the report results were based on six main factors including: access to technical expertise, proximity to the customer base, regulatory framework, government support, innovation culture and international diversity. Source
Open Banking has reached one year in the UK and the initiative...
The real estate crowdfunding space has been a mixed bag; a couple...
In its Q3 2016 State of Blockchain report, CoinDesk provides insights on blockchain; says blockchain investment is decreasing however significant development efforts continue to occur primarily from major banks and stock exchanges; report also says interest in blockchain from central banks is likely to continue. Source
Looking to make their consumer lending product more appealing Goldman Sach’s Marcus is now offering loans for home improvement; the bulk of their loans have thus far been originated for debt consolidation; with more banks entering the space and the non bank lenders who have come on the scene since the financial crisis Marcus is looking to differentiate their initial offering; this is a trend across the fintech market as competition has forced firms to try to make products unique. Source.
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