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·Aug. 18, 2017

New SEC Request for Bitcoin ETF Approval

Currently reconsidering the Winklevoss brothers' ETF proposal, the SEC has now received another approval request for a bitcoin ETF; investment manager VanEck has submitted a prospectus to the SEC for a bitcoin-related ETF; the fund differs from previous funds, with its investments based on derivatives of bitcoin; VanEck is seeking to list the fund on the Nasdaq and says it will also include conventional investments such as US Treasury bonds and cash for risk diversification. Source

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Europe Fintech News Roundup

·Dec. 7, 2017

New Standards Coming from the P2PFA

The P2PFA has announced changes to the standards for its members which will be put in place next April; the new rules, according to Christine Farnish, Independent Chair of the P2PFA are “…built around the principles of transparency, integrity, honesty and competence.” Source

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Fintech News Roundup

·Jan. 18, 2017

New VC Fund Announced at the World Economic Forum in Davos

Motive Partners is launching a new venture capital fund this week at the World Economic Forum in Davos; Motive Partners plans to raise $150 million for the fund which will invest in fintech; LMRKTS will be one of the firm's first investments; LMRKTS is supported by ex-US Treasury Secretary Larry Summers and is focused on technology for managing foreign exchange transaction costs. Source

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Fintech News Roundup USA

·Apr. 28, 2017

New York Venture Capital Funding Decreases by 35% in Q1 2017

The New York Business Journal reports on CB Insights' venture capital data by state noting that fintech investment in New York companies decreased by 35% from the previous quarter to $253 million while deals increased to 24 from 19; three New York City companies, Namely, Trumid and Payfone, were among the top 10 US fintech deals; Namely was second in top fundraisings with $50 million. Source

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News Roundup North America Online Lending

·Apr. 7, 2017

NewOak Partners with LendingArch for $2bn Investment

NewOak will invest up to $2 billion in loans originated by Canadian online lender LendingArch over the next three years; NewOak will also make a significant contribution to the strategy of the firm; the New York-based asset management and institutional advisory firm will take an advisory role with LendingArch supporting its business development and capital markets strategies. Source

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News Roundup Online Lending

·Feb. 21, 2017

New Securitization Activity in the Online Lending Market

Orchard's weekly snapshot highlights some new securitization activity in the online lending market; SoFi has filed for its third securitization of 2017 (SCLP 2017-2); Kabbage has filed for their first securitization of the year; in its fourth quarter 2016 earnings report, Lending Club also reported a new securitization program with quarterly issuance of up to $100 million. Source

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Europe Fintech News Roundup

·Apr. 4, 2017

New Study Reports on Banks’ Perspectives on Fintech

A new report from Economist Intelligence Unit finds that banks are less fearful of fintech companies and that trends in the market are causing banks' interests to collide with fintechs for greater market partnerships and collaboration; the Economist Intelligence Unit report cites PSD2 as a leading factor for greater banking cooperation with fintechs; the report's Editor Renee Friedman says the research finds that "banks will increasingly have to adapt their culture and digital strategies to their customers' needs if they are to compete, not expect their customers to bend to theirs." Source

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Fintech News Roundup

·Jan. 18, 2017

New York Regulator Opposes the OCC’s Fintech Charter

The comment period for the Office of the Comptroller of the Currency's fintech charter proposal closed on January 17 and the New York Department of Financial Services (NY DFS) was among the commenters; the NY DFS opposes the federal fintech charter; says state regulations have evolved to provide the necessary oversight; also notes that the regulations will create confusion, harm small business innovation, create monopolized institutions, increase competitive risks of non-bank entities and facilitate evasion of consumer protection. Source

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Asia/Pac News Roundup Online Lending

·Jan. 31, 2017

New Zealand Bank, Heartland, Invests A$20mn in Spotcap

European online lender Spotcap has received A$20 million (USD$15.15 million) from New Zealand Bank, Heartland; Spotcap has also launched its platform in New Zealand and will be accelerating growth in Australia, helping to expand its business in the Asia Pacific region; Spotcap's lending targets small and medium enterprises with credit lines and loans of up to $250,000. Source

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Fintech News Roundup

·Feb. 28, 2017

Nick Ogden Launches ClearBank

Nick Ogden has launched ClearBank after three years of development on the multi-million-pound project; the bank is marketed as a "bank for banks," targeting fintech startups, credit unions, building societies and other challenger banks; it will focus on payment processing, which it plans to offer at cheaper and faster rates than competitors, and also an "off the shelf core banking service." Source

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