Shareholders of PayPal have sued firm directors implying that management falsified statements in quarterly reporting related to Venmo; as a subsidiary of PayPal, Venmo's business activities influence the overall results of the firm; in 2016 Venmo was investigated for unfair and deceptive practices resulting in a fine and ongoing investigations with the FTC; shareholders are arguing that PayPal did not properly disclose and inform shareholders of the implications of the investigations which led to shareholder losses of approximately 15%. Source
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CB Insights has provided a market map of artificial intelligence (AI) companies in fintech; the map is grouped by nine categories; top companies using innovative AI solutions for credit scoring and direct lending include Affirm and ZestFinance; the analysis also provides insight on each of the firm's investors. Source
The China market is bigger than the US and they tend to move much faster; Emmanuel Daniel of The Asian Banker compares China today to 1971-1984 in the US when regulation was just beginning to be put in place; Credit China is an example of a successful P2P lender in China, now valued at $3 billion; Yew Kiat Phang speaks about the company, sharing how they initially were a traditional lender, constrained by capital and customers with single revenue streams; the company took a broad approach to fintech, first obtaining a third party payment license; company reported $12 billion in 2016 on their P2P lending platform; their payment gateway saw $30 billion in flow for 2016; Yew Kiat Phang shares other details on the company in the video. Source