Zor Gorelov is the CEO and Co-Founder of Kasisto; in our latest...
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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There has been a number of news items in recent weeks about how difficult it is for banks and fintech companies to work together; banks tend to be more intrusive and fintechs come with a significant culture shift; one thing has become clear and that is the benefits outweigh the hassle; banks and fintech companies benefit greatly from partnering and customers clearly when they do. Source.
Business Insider takes a look back at one of the biggest trends in finance from 2017; Initial Coin Offerings or ICOs have become one of the main ways for companies in the blockchain space to raise capital; more than $3.5bn was raised using this method; some of the top raises include $153mn by The Bancor Protocol, $232mn by Tezos and $257mn by Filecoin. Source.
Small business online multi-lender Lendio has announced the launch of a new lending program for franchises; in addition to business loans, participating lenders will have access to new technology, comprehensive training, branded marketing tools, partnerships and Lendio's franchise support team; Lendio facilitates lending by matching online applicants with lenders; the firm has originated over $240 million in loans. Source
Goldman Sachs continues to expand into consumer lending and plans to offer home improvement loans this month; the loans are non-secured personal loans with interest rates lower than credit cards but higher than HELOCs; the company believes the quick financing time will be attractive compared to a HELOC. Source
The company provides cloud-based integrated receivables software and is based in India; originally founded in 2006, this is the first external funding round for the company which boasts clients such as Adidas, Starbucks, Proctor & Gamble and more; Susquehanna Growth Equity participated in the funding; Sashi Narahari, Founder and CEO of HighRadius shares their story in the article. Source
Since 2008, a number of changes have occurred affecting the U.S. financial industry and its regulations; simultaneously financial technology has also been evolving rapidly and market conditions have actually been a catalyst for P2P lending platforms; Forbes finds, as many market experts have recently discussed, that P2P lending platforms' extension of credit to a more diverse range of borrowers and built in accountability through investors and lenders, is providing a new type of support for the credit market that could help to prevent another crisis in the future. Source
Auto loan delinquencies are now at their highest level in four years; a report from the American Bankers Association says 1.75% of borrowers with loans from a dealer are at least 30 days late; 0.94% of borrowers with auto loans from a bank are at least 30 days late. Source
The latest issue of deBanked magazine has an in depth review of...
The CEO of the U.S. Network of Accion gives us the CDFI perspective on small business lending in underserved communities. Source