Yesterday LendingClub released their Q3 earnings; they originated $2.44 billion in loans, up 14% from the previous quarter; revenue was on the lower end of projections, but the company had a lower GAAP loss than expected; Lend Academy shares other highlights from the earnings call. 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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The largest online small business lender in the US is now PayPal...
Payments company Dwolla has received $6.85 million and relaunched its white label API, Access API; the funding was led by Union Square Ventures and Foundry Group; the investment will be used to expand its employees; the new API will now manage same-day transfer services and include a new dashboard for transactions. Source
N26 Founder and CEO Valentin Stalf told the Money 20/20 audience they plan to launch in the US by mid 2018; “We’ve looked at the products in the U.S. and we figured out that most of the banking products in the U.S. are even worse than in Europe,” Stalk told TechCrunch; their plans are to launch a debit card with a checking account and use a bank partner, similar to what they have done in Europe. Source.
There are many reasons why Latin America is the hottest region on...
After the Bust, Are Bitcoins More Like Tulip Mania or the Internet?...
The NFIB Small Business Optimism Index increased to 105.9 in January and reported its highest level since December 2004; in December 2016 the Index increased 7.4 points and has since continued to gain; small businesses have reported plans to increase workers and their optimism overall has been helped by policy proposals from the Trump administration. Source
Fintech Week Tel Aviv 2020 International P2P Lending Volumes December 2019 Signature...
SunTrust Bank saw the writing on the wall a couple of years ago, their aged technology was not efficient and new startup lenders were able to provide loans a lot faster; it took 18 months to overhaul their systems but the bank is now ready to go live with a unified, faster operation they feel is ready to compete in this new fintech era; "When you think about what clients want, most of all they want their money quickly, and they go to fintechs because of the speed," said Pam Kilday, head of operations at SunTrust bank; Pam Kilday says, "We see speed as a competitive edge and we want to be at the forefront." Source
Fintech companies continue to attract interest from traditional financial institutions and now...