American Banker takes a look at some of the better know digital...
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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Banks are under significant pressure to modernize and one of their core...
PeerStreet has partnered with Betterment to provide increased access to its platform data for investors through the Betterment service; with the new partnership investors can now view their PeerStreet positions on the Betterment dashboard; the partnership is facilitated by data integration from Quovo. Source
Many Lending Club investors just use the filtering on LendingClub.com to make...
The EU is investigating whether banks in several countries are preventing the sharing of information that the bank customers have granted; the raids were a preliminary step and the results of the investigation are not yet known; in 2018 banks will be required to give third parties access to account data provided the customers have given consent. Source
Established fund management companies are leading the next wave of market computerization through investment in robo advisors; robo advisors offer automated investment options with lower fee structures; investment managers are buying and integrating these services to expand their offering and mitigate competitive factors; a partnership between John Hancock Financial and NextCapital is one of the latest examples; other deals have included SigFig with Wells Fargo and UBS, BlackRock with FutureAdvisor and Fidelity with eMoney. Source
A new product from Personetics and MX will help small banks to...
LendIt's Jason Jones writes about the marketplace lending opportunity for bank partnerships in a Lend Academy article; in 2016, many marketplace lenders reported partnerships with banks, exemplifying this new opportunity; three main types of partnerships have been prevalent including bank-fintech-bank (BFB), fintech-fintech-bank (FFB) and bank-fintech-fintech (BFF); co-branding or white labeling has also been a factor in the partnerships; some traditional banks have chosen to take the full cost of developing their own online lending platform including, Goldman Sachs and PingAn, however many banks are finding partnerships more cost efficient; LendIt's bank partnerships webinar on Wednesday will highlight this trend. Source
LendingClub made big headlines with their acquisition announcement of Radius Bank and...