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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.

Fintech News Roundup

·Jan. 13, 2017

Savings App Digit Integrates with Facebook Messenger

This week Digit announced it was launching a savings bot which will operate on Facebook's messenger; to date users have saved over $350 million with the app which tracks income and spending and subsequently transfers small amounts of money to a savings; the company is also rolling out a financial goal program using artificial intelligence which will allow users to set savings goals and timelines. Source

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Fintech News Roundup USA

·Jan. 13, 2017

Online Venture Capital Firm to Release Quarterly Public Disclosures

FundersClub is an online venture capital firm investing in startups; it has invested in 217 companies in the past four years with 19 exits; the firm has announced a commitment to disclose quarterly public reports providing more transparency in a historically un-transparent industry; the firm's investments have been successful over the past four years with a comprehensive multiple for returns on realized exits of 1.1. Source

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News Roundup Online Lending

·Jan. 13, 2017

Follow Up Friday: PeerIQ’s Fourth Quarter Securitization Report

PeerIQ released its fourth quarter "Marketplace Lending Securitization Tracker" this week; marketplace lending accounted for $2.4 billion of the securitization market in the fourth quarter; data from the fourth quarter report shows securitization investments as an increasingly important source of capital for marketplace lending platforms; in 2016 70% of loans were invested in through securitizations. Source

PeerIQ 4Q16 Exhibit 15

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News Roundup Online Lending

·Jan. 13, 2017

Biz2Credit Releases Monthly and Annual Small Business Approval Rate Data

Biz2Credit has released its monthly Biz2Credit Small Business Lending Index report which provides approval rates on small business loans; large lenders increased approval rates while alternative and credit union lenders reported decreases; big banks reported an approval rate of 23.9% in December, an increase of 0.02% from November and 1% from December 2015; the small bank approval rate increased to 48.9% and the institutional lenders approval rate increased to 63.4%; alternative lending approval rates decreased to 58.6% and the approval rate from credit unions decreased to 40.9%. Source

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Fintech News Roundup

·Jan. 13, 2017

Northwestern Mutual Creates $50mn Venture Fund

Northwestern Mutual has formed Northwestern Mutual Future Ventures which will invest in fintech firms; according to the press release, the commitment will focus on innovation to build greater digital relevance for clients, increase data-driven decision making and create back-end efficiencies with the goal of creating value for its more than four million clients; investments will range from $500,000 to $3 million; the company has already seen benefits from the acquisition of LearnVest in 2015 and is looking to invest more in similar companies. Source

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Fintech News Roundup

·Jan. 13, 2017

CreditEase Announces First Close of Israel Innovation Fund

CreditEase Wealth Management announced the first close of their second fund dedicated to investing in Israeli tech startups; the amount raised was $32.2 million; final target for the fund is $50 million; the focus of investments will include virtual and augmented reality, artificial intelligence and machine learning, digital healthcare, internet of things technology, cloud and data storage, and advanced manufacturing. Source

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Fintech News Roundup Real Estate USA

·Jan. 13, 2017

HouseCanary Adding Capital of $33mn

HouseCanary is working to provide better real estate property valuations through its fintech services; uses machine learning and algorithms to analyze data and identify home values; the company has reported a funding round with $33 million in new capital from investors including Eric Schmidt and Kobe Bryant. Source

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Asia/Pac Fintech News Roundup

·Jan. 13, 2017

Japan Exchange Group to Use Blockchain for Trading

The Japan Exchange Group has been approved to use blockchain in trading and will begin testing blockchain on the Tokyo Stock Exchange; its approval follows a previous restriction on blockchain's use in exchange trading; with the approval the Japan Exchange Group may also explore artificial intelligence; other market exchanges working on blockchain developments include Myanmar's Yangon Stock Exchange and the Nasdaq; the Bank of Japan has also reported increased research in the use of fintech. Source

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Europe Fintech News Roundup

·Jan. 13, 2017

Challenger Bank OakNorth Receives Funding from British Business Bank

Government-owned British Business Bank has added challenger bank OakNorth to its Help to Grow program; allows the company to receive loan funding of up to 2 million British pounds ($2.43 million); OakNorth is the first challenger bank to join the Help to Grow program; the funding follows a recent announcement of three new executive hires for OakNorth to support anticipated lending of 500 million British pounds ($608.39 million) in 2017. Source

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News Roundup Online Lending USA

·Jan. 13, 2017

MLA Announces 11 New Members

The Marketplace Lending Association has announced the addition of 11 new members bringing its total membership to 14; the organization launched in April 2016 with three founding members: Lending Club, Prosper and Funding Circle; LendIt has joined the consortium as an associate member along with dv01; all together the expanded membership broadens the scope of representation within the industry and also helps to give the association a more powerful voice in Washington as marketplace lending regulations evolve in 2017. Source

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