Experian discusses some of the marketplace lending industry's new expectations following a challenging year in 2016 that resulted in decreased confidence in the alternative investments; suggests that the investment and banking communities will increase their focus on platform profitability which has been overlooked given significant growth rates in top-line revenue; notes industry self-regulation from multiple viewpoints including six new industry associations created in the past year; emphasizes the importance of a disciplined approach for data and risk management; reports overall that change within the industry could be good for a number of reasons. Sponsored Blog Post
Cloud Lending Solutions has closed a new financing round led by Cota Capital; firm plans to further develop its products and expand globally; currently offers product solutions for origination, underwriting, servicing and collections in over 23 countries with approximately 2,800 lending users. Source
Humaniq is developing new banking options for emerging markets in Africa, Latin America and parts of Asia in efforts to help eliminate poverty; the firm is a next generation bank based on Ethereum with open APIs for connecting to services from other companies; platform plans to launch with biometric authentication, simple account set up and money transfers; Humaniq Founder Alex Fork talks with CoinTelegraph about the firm's ambitions. Source
Haven Life was the first insurance company to offer a life insurance product to its clients completely online; Liz Langlois from Haven Life provides insight on the industry and firm's evolution in a blog post; also discusses factors for consideration in choosing a life insurance partner. Sponsored Blog Post
LendIt has announced eight finalists from a pool of approximately 300 applicants for this year's PitchIt @ LendIt USA; finalists will be connected with mentors for competition preparation and ongoing business support; LendIt has partnered with 500 Startups and sponsor Marqeta to host the event; the finalists will present to a panel of judges at LendIt USA 2017 on March 7. Source
California-based startup Tala has raised $30 million for its marketplace lending platform; investors in the funding round included IVP, Ribbit Capital, Lowercase Capital, Data Collective and Collaborative Fund; the firm offers loans in Kenya through alternative credit underwriting which utilizes accessible data on payrolls, savings, payments history and social network activity; it plans to expand to Mexico and India. Source
RealtyMogul has announced it will open its MogulREIT I Fund for self-directed IRA investing; the announcement will give non-accredited investors access to higher performing alternative credit investments for a minimum of $1,000; the Fund has also announced a new dividend reinvestment option and two new property investments. Source
Google, Amazon, Facebook and Apple (GAFA) have significant market share and a massive influence; given the needs and demands of consumers it seems likely their services will more broadly integrate fintech offerings in the near future; all four companies have taken some steps to offer financial services and industry analysts are watching them closely for new announcements. Source
Ant Financial has formed a strategic partnership with Kakao Pay which includes a $200 million investment and partnership to offer enhanced digital financial services in South Korea; services will include enhanced bill payment, remittance and payment transactions; according to Young-Joon Ryu, Kakao Pay's CEO-elect, "The combination of Ant Financial's global payment platform Alipay and numerous financial and commerce service networks and Kakao's platform capabilities will result in more effective and convenient financial solutions for both businesses and consumers." Source
Most well-known for his music career, Jay Z has also been investing in startups since 2012; the rapper has now reported he will launch a venture capital firm with partner Jay Brown of Roc Nation; Sherpa Capital will also help to launch the fund which will focus on seed-stage companies. Source