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·Mar. 23, 2017

Coinbase Receives New York Approval for Cryptocurrency Trading

San Francisco-based Coinbase has received approval for digital currency trading of Ether and Litecoin in New York; the company was also granted approval for a debit card service called Shift Card; with the approval, Maria Vullo and the the New York State Department of Financial Services reiterated their position on the OCC's fintech charter, noting the importance for state fintech oversight. Source

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Fintech News Roundup

·Mar. 23, 2017

IBM is Betting on Cloud, Artificial Intelligence and Blockchain

At IBM's InterConnect conference this week in Las Vegas the company discussed its plans for cloud, artificial intelligence and blockchain, three areas that it will be increasingly focusing on for the future; the IBM Cloud will be the base of the growth strategy with artificial intelligence and blockchain driving a full range of capabilities. Source

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News Roundup Online Lending

·Mar. 23, 2017

Marketplace Lending Performance Transparency

Marketplace lending platforms have offered investors a viable alternative for fixed income market returns however their disclosures and reporting standards are continuing to evolve; while these disclosures can vary by platform, Rupert Taylor from AltFi says lenders should consistently ensure that there is alignment between investors and originators, also noting that, "Lenders should seek platforms that can demonstrate that their overriding motivation is to originate loans at an interest rate that adequately compensates for the risk of default."; appropriately assessing a platform's returns is important for investors and Rupert Taylor advocates for increased demand from investors for platform performance transparency. Source

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Europe News Roundup Online Lending

·Mar. 23, 2017

Goji Develops P2P Lending Bond Product

Goji is marketing a P2P lending bond product, the Goji Diversified P2P Lending Bond, which is targeting annual returns of greater than 5%; the firm is based in London and offers a range of services for the P2P lending industry including tools and resources for investors and financial intermediaries, an investing platform, IFISA account servicing technology for platforms and now a new P2P lending bond; the Bond will invest in a minimum of 200 loans across all options available in the UK P2P lending sector. Source

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News Roundup Online Lending USA

·Mar. 23, 2017

Ron Suber Gives Keynote at Fintech Fraud Summit

Ron Suber discussed the challenges that online fraud can present to marketplace lenders in his keynote speech at the Fintech Fraud Summit last week in San Francisco; to mitigate fraud, companies must have a comprehensive risk and compliance system that protects it from attacks and fraudulent loans; Ron Suber outlined Prosper's risk and compliance approach in his presentation providing an example for marketplace lenders seeking solutions for mitigating and managing fraud. Source

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Fintech News Roundup

·Mar. 23, 2017

Charts: Bank Innovation Priorities

Traditional banks are increasingly investing in financial technology in a number of different ways; banks are developing innovation labs and partnering with fintech companies for new solutions; Digiday provides insight on factors influencing fintech investment at banks in five charts; the chart above shows the areas where banks are most interested in partnering for new developments. Source

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News Roundup Online Lending USA

·Mar. 23, 2017

SoFi Demos Authentication API by Quovo at FinDEVr

In partnership with Quovo, SoFi has integrated an API for wealth management customer authentication and data aggregation into its platform infrastructure; with the API integration, customers can now link with over 200 financial institutions; the new API allows customers to pull in data from existing accounts for various purposes on the platform. Source

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Asia/Pac News Roundup Online Lending

·Mar. 23, 2017

Capital Float Announces Partnership with Amazon India

Capital Float will partner with Amazon India to provide loans for e-sellers; Capital Float will provide the loans through a credit facility called Pay Later which it is already using with e-commerce clients PayTM, Snapdeal and Shopclues; with the Pay Later solution, Capital Float is well positioned to service a fast growing e-commerce market which is expected to grow revenues from $30 billion in 2016 to $120 billion in 2020. Source

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Fintech News Roundup Real Estate USA

·Mar. 23, 2017

Unison Leading the Way for a New Era of Home Ownership Affordability

Lending Times reports on the business model created by Unison to improve the affordability of home ownership in the United States; the firm has developed two main products, a HomeOwner and HomeBuyer product, that are based on an investment model rather than a lending model; as a real estate investor the firm provides capital for borrowers and shares in the gain or loss of the real estate property's value; Unison and other innovative real estate businesses participated in a panel at LendIt USA 2017 titled, "The New Era of Buying & Selling a House" sharing further insight on how fintech innovation is evolving in residential real estate. Source

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Asia/Pac News Roundup Online Lending

·Mar. 23, 2017

Xero Emerging as a Leading Platform for Working Capital Accounting Solutions

New Zealand-based Xero provides cloud-based accounting software for small and medium size businesses; it has now announced new agreements to integrate its software with working capital financing platforms MarketInvoice, iwoca and DueCourse; the business integrations will help to better facilitate invoice finance lending and working capital credit for businesses using Xero. Source

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