In his first public appearance in over a year Renaud Laplanche, the CEO of Upgrade, gave a presentation this past...
Two highly respected fintech companies have formed a strategic partnership to help develop underserved markets; Vervent and Finitive have experience...
Over half of China’s online lenders have run into trouble by failing to comply with data privacy rules; Renmin University and Nandu Personal Data Protection Research Centre conducted a survey of over 200 finance apps and found more than 110 to be in low compliance; the issues include collecting phone numbers from users’ contact lists which can be used to harass and shame borrowers who fall behind; most apps also lacked a privacy agreement when signup occurs, which doesn’t allows users protection from the company. Source.
Once seen as a niche segment of finance online lenders are now originating billions in loans each year; the bigger they get the questions start to arise if they can handle an economic downturn and are their underwriting models good enough; American Banker digs into the overall industry by looking at securitization growth, whether or not traditional banking is dead and more. Source.
One of the biggest criticisms of the UK’s CBILS program was that it favored big banks and lending was too...
The UK’s Financial Conduct Authority ordered financial firms to do more to protect vulnerable customers; the FCA issued the order...
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