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News RoundupOnline LendingUSA
·Mar. 29, 2017

Global Debt Registry Partners with TransUnion

Global Debt Registry (GDR) will partner with TransUnion for data to enhance GDR's eValidation services; the data partnership will help to improve eValidation's verification for investors and issuing creditors also providing more in-depth analytics on borrowers; GDR President Charlie Moore says, "Their data allows our investors to gain more confidence in the underlying assets through verification, validation and enhanced credit risk tools."  Source

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FintechNews RoundupReal EstateUSA
·Mar. 29, 2017

Launching a US Real Estate Crowdfunding Platform

Crowdfund Insider provides details on how to launch a real estate crowdfunding platform in the US; discusses different types of offerings and securities; also outlines business planning, capital funding and licensing.  Source

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News RoundupOnline LendingUSA
·Mar. 28, 2017

Community Bank CEO Accelerates Innovation after Seeing SoFi Ad

Julieann Thurlow of Reading Cooperative Bank saw the SoFi Super Bowl ad last year and decided to try out the lender as she watched the ad, she received a loan in a few minutes; her reaction set off a chain of events where she is now looking to accelerate her own bank's innovation to keep up with online lenders like SoFi; her reasoning is that these new entrants will begin to eat into their customers unless their technology is on a comparable scale; they now have a mobile experience where you can open new accounts and she is looking to have a mobile mortgage application live in the next year; she now attends innovation events and is looking to help their customers move into the digital age with the bank.  Source

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News RoundupOnline LendingUSA
·Mar. 28, 2017

Lend Academy Article: Invest Efficiently with a Lending Club or Prosper IRA

Lending Club and Prosper allow for tax efficient investing on their platforms through an IRA; Lend Academy provides details on opening an IRA with Lending Club or Prosper and explains why investing in P2P lending is best done through an IRA.  Source

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News RoundupOnline LendingUSA
·Mar. 27, 2017

Elevate Details IPO Plans

Company is offering 7.7 million shares at $12 - $14 per share and may raise up to $124 million; Elevate will be listed on the New York Stock Exchange with ticker ELVT; UBS is leading the IPO with participation from Credit Suisse and Jefferies; according to Elevate CEO Ken Rees: "When we began our IPO process over a year ago, we told you we would grow revenue and profits throughout 2016, while continuing to provide the most responsible credit products in our space. In fact, we improved the company in almost every way."  Source

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FintechNews RoundupUSA
·Mar. 29, 2017

Collectly Reporting Success in Online Debt Collection Business

Collectly has created an online debt collection platform that utilizes machine learning technology to track and learn about debtors through each interaction; the platform's technology connects with its clients to provide greater transparency on delinquent debt; the company also seeks to provide structured repayment terms for debtors through personalized communication.  Source

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FintechNews RoundupUSA
·Mar. 28, 2017

Is the OCC Taking the Right Approach to the Proposed Fintech Charter?

As we continue to hear more from the Office of the Comptroller of the Currency (OCC) about their new fintech charter, the question comes to mind: is the regulator taking the right approach?; fintech companies are beginning to disrupt many different facets of the financial system, coming up with a singular charter could be limiting and hurt innovation; the OCC has stated that this new charter from their point of view is just one of many options a firm can choose when looking at regulation; having regulators at every level think outside the box will help innovation overall and this also can help to discover an approach not yet seen.  Source

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FintechNews RoundupUSA
·Mar. 28, 2017

Investing with Impact: Digital Wealth with a Conscience – by Motif Investing’s Hardeep Walia

Hardeep Walia spoke about the lack of transparency that exists in investing today with many investors investing in a black box as he demonstrates on stage; in turn, investors may be supporting companies who may not have the same values; sustainability is a trend and consumers are increasingly willing to pay more for sustainability but investors need to vote not just with consumption dollars, but also investment dollars; to that end Motif has launched a new digital wealth product called Motif Impact that allows investors to build an investment strategy around their values such as a sustainable planet, fair labor and good corporate behavior.  Source

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FintechNews RoundupOnline Lending
·Mar. 28, 2017

Cloudvirga Raises $15mn for Mortgage Automation Service

Cloudvirga has raised $15 million in a Series B funding round for its automated, cloud-based intelligent Mortgage Platform (iMP); the service can easily integrate with lenders to streamline, automate and manage the compliance of mortgage lending, also offering significantly reduced processing times and costs; the iMP service was launched in 2016 and has processed over $15 billion in loans.  Source

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News RoundupOnline LendingUSA
·Mar. 27, 2017

PeerIQ Weekly Update: SoFi and Marlette Securitization Deals

This week's industry update from PeerIQ focuses on some good fundraising news for the market; OnDeck extended their credit facility with Deutsche Bank to 2019 and increased the borrowing capacity to $214 million; SoFi is looking to launch a risk retention fund soon and their most recent securitization deal worth $461 million deal was rated by S&P, Moody's and DBRS; Marlette closed on their third securitization deal, MFT-2017 1, which was their largest transaction; the deal was originally set for $257 million but was oversubscribed and priced at $333 million on Friday; PeerIQ listed a few other interesting items of note on the deal; the deal pricing of this transaction is tighter than past Marlette securitizations and they are using a step function for cumulative net loss triggers.  Source

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