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·Mar. 15, 2017

Video of the Week: Investing in the Future

Scott Sanborn provided the opening keynote presentation at LendIt USA 2017; the appointment of Sanborn has been a critical success factor for Lending Club and the marketplace lending industry; in his presentation he discusses the challenges of 2016 and the significant growth opportunity that still remains ahead; compares the market's potential to the growth of Amazon; provides insight on important factors for growth over the next ten years.

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News Roundup Online Lending USA

·Mar. 15, 2017

Small Business Optimism Down in February

The National Federation of Independent Business (NFIB) has released data for its February Small Business Optimism Index; the Index shows a decrease to 105.3 from 105.9; the NFIB says that the reading is still one of the highest in 43 years; the lower report for February is primarily due to uncertainty around President Trump's deregulation plans, new healthcare law and tax reform. Source

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Europe Fintech News Roundup

·Mar. 15, 2017

solarisBank Reports 26.3mn Euro Fundraising

Berlin-based solarisBank has raised 26.3 million euros ($27.95 million) in a Series A funding round; investors included Arvato Financial Solutions, Japanese SBI Group, FinLeap, Hegus and Yabeo Capital; the company offers a banking platform solution that helps companies connect with innovative banking service modules for business integration. Source

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Europe Fintech News Roundup Online Lending

·Mar. 15, 2017

Revolut Partners with Lending Works to Offer Loans

Revolut has announced a new partnership with Lending Works that will allow the mobile banking app to offer P2P loans; through the partnership, the app's mobile users can submit loan applications and receive funding; loans will be available for 500 British pounds ($608) to 5,000 British pounds ($6,079) with APRs of approximately 9.9% and Lending Works will use customer data from Revolut in loan underwriting approvals; the partnership is expected to bring a significant amount of new business for Lending Works which was launched in 2014 and has lent a total of 50 million British pounds ($61 million) to consumers. Source

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Europe News Roundup Online Lending

·Mar. 15, 2017

Myths about Investing in ISAs

Lisa Caplan from Nutmeg provides insight on investing in individual savings accounts (ISAs); reports on six myths that keep UK investors from investing in ISAs; notes the tax free advantages of investment in ISAs up to the allowance limit of 15,240 British pounds ($18,588) and the allowance limit increase to 20,000 British pounds ($24,394) beginning in April. Source

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News Roundup Online Lending

·Mar. 15, 2017

ProducePay Announces Fundraising of $77mn

ProducePay was previously a LendIt PitchIt finalist; the company provides an online financing platform for farmers of perishable goods; they recently announced a $77 million debt and equity funding round that will help it expand its business financing. Source

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Europe Fintech News Roundup

·Mar. 15, 2017

Digital Bank N26 Reports 300,000 Customers

European digital bank N26 has increased its customer base by 200,000 users in just 14 months as digital bank solutions become increasingly more popular in Europe; the company has also reported a new transactions milestone of 3 billion euros ($3.1 billion); the Berlin-based company is targeting tech savvy millennials and has introduced a number of competitive features to attract new customers including a lending product that allows for mobile loans up to 25,000 euros ($26,556); the business has raised over $55 million in capital and is planning to expand to Britain in 2017. Source

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Fintech News Roundup

·Mar. 15, 2017

Innovative Fraud a Threat for Fintech

Fintech solutions are rapidly evolving and their growth appears to be creating increased market opportunities for innovative fraud; the frictionless payments market specifically has reported a spike in digital financial crime as money launderers find new and innovative ways to steal identities and develop synthetic profiles; the Financial Times also reports on the use of e-commerce for new types of fraudulent activity, noting that criminals can use fraudulent transaction platforms to setup inexpensive e-commerce sites that elicit funds from internet shoppers; with innovative fraud solutions growing fast, the costs of monitoring and mitigating fraudulent activity are becoming an even greater factor for fintech companies. Source

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Europe Fintech News Roundup

·Mar. 15, 2017

FOL Wealth Creates Robo Advisor Service to Complement Wealth Management Business

London-based FOL Wealth has launched a new robo advisor service for its wealth management clients; the solution offers clients automated service at an annual fee of 0.90% with a minimum investment of 1,000 British pounds ($1,216); it is intended to serve as a hybrid solution complementing the human advice of the firm's wealth advisors. Source

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Fintech News Roundup

·Mar. 15, 2017

EY Report Provides Insight on Banks’ Commitment to Fintech

Ernst & Young has released its EY Global Banking Outlook 2017 report which provides insight on incumbent bank investments; says approximately 60% plan to invest in new technologies and reports that banks have the highest priority on customer facing technology; the survey report includes data from approximately 300 banks across Europe, the Americas, Africa and Asia-Pacific. Source

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