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Europe Fintech News Roundup

·Oct. 6, 2017

Lend Academy Podcast: LendIt Europe 2017 Preview

The LendIt content team that created the agenda for our upcoming European event on October 9 & 10 share:

The main trends that are happening in European fintech today.
What is different and similar when it comes to fintech in Europe, USA and China.
How LendIt Europe is going to work and what attendees can expect.
The networking opportunities for attendees at LendIt Europe.
How Brella, our 1-to-1 networking tool, works.
Some of the highlighted sessions at the show.
How attendees will be able to get the most out of their two days at LendIt Europe.

Source

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Fintech News Roundup USA

·Oct. 5, 2017

Finastra and R3 Building a Blockchain Based Marketplace for Syndicated Loans

Finastra, R3 and seven global banks are teaming up to build a blockchain based marketplace for syndicated loans; banks include BNP Paribas, BNY Mellon, HSBC, ING and State Street; Fusion LenderComm, which uses R3's Corda platform, will be able to handle real-time credit agreements, accrual balances, position information and transaction data. Source.

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Fintech News Roundup USA

·Oct. 5, 2017

Lend Academy Article: Congress is Trying to Get the IRS to Modernize

A new bill has been introduced in Congress that would mandate the IRS to make their data available via API; the current process for lenders requires borrowers to fill out a form known as IRS 4506-T: Request for Transcript of Tax Return; Lend Academy provides additional information on the bill with thoughts from Congressman McHenry and Nat Hoopes, Executive Director of the Marketplace Lending Association. Source

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Fintech News Roundup

·Oct. 5, 2017

Banks Team Up with IBM to Build Blockchain Based Trade Finance System

The Bank of Montreal, Caixabank, Erste Bank and Commerzbank join the Batavia blockchain project; the project was launched by UBS and IBM last year; Batavia looks to transform the trade finance industry; Marie Wieck, general manager of the blockchain team at IBM, tells the FT, “there is now a shift from technology projects to more of what I’d call ecosystem projects like this one.” Source.

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Europe Fintech News Roundup

·Oct. 5, 2017

Starling Bank Adds Business Accounts

Starling Bank is launching a business account focused on entrepreneurs, sole-traders and small business owners; the account is free to set up and will like to a number of features including payments and their Marketplace product for accounting based services. Source.

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Fintech News Roundup USA

·Oct. 5, 2017

Navient Buys Earnest for $155mn

Student loan servicer Navient has acquired fintech firm Earnest for $155mn; the motivation behind the deal will pave the way for Navient to enter the lending business; “We’re looking to be the major player in the student loan refi space,” said Navient CEO Jack Remondi in an interview with the WSJ. Source.

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Fintech News Roundup

·Oct. 5, 2017

RBI Issues Guidelines on P2P Lending in India

All P2P lenders will now be known as non-banking financial companies (NBFC-P2P); all p2p lenders will also have to receive a certificate of registration; companies will go through a 12 month period before getting final approval; under the rules a p2p firm can’t raise deposits or lend on its own; other details of the guidelines including loan caps for borrowers are outlined in the article. Source

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Fintech News Roundup USA

·Oct. 5, 2017

Interview with Fifth Third Bancorp CEO

Greg Carmichael is the CEO of Fifth Third Bancorp; in this in-depth interview he shares his perspective on the intersection of regulation and innovation in banking, Fifth Third’s fintech strategy, their partnership with QED Investors and more. Source

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Fintech News Roundup USA

·Oct. 5, 2017

Barclays Launches Personal Finance Tool

Barclays is launching the My Personal Bank finance service that will link all of a customer’s Barclays based accounts; they are testing the tool with 7,500 Barclaycard Arrival Plus World Elite Mastercard cardholders. Source.

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Fintech News Roundup USA

·Oct. 5, 2017

Roofstock Raises $35 Million

Roofstock provides a marketplace for buyers and sellers of rental properties; the company is up to 35 employees and has now raised their Series C led by Canvas Ventures; TechCrunch published a short Q&A with their CEO Gary Beasley; while the company doesn’t disclose actual number of properties, they have facilitated “hundreds of millions of dollars in value this year alone” and now operate in 15 markets across the US. Source

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