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Team Behind Avant Raise $15 Million for Next Venture
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Team Behind Avant Raise $15 Million for Next Venture

Team Behind Avant Raise $15 Million for Next Venture

Fintech Nexus Staff·
FintechNews RoundupUSA
·Mar. 27, 2018·1 min read

The new venture called Spring Labs will use blockchain technology in building a network which will allow lenders, banks and data providers to pay each other for access to consumer information; CEO Adam Jiwan gave insight into the problem they are trying to solve stating, “Utility companies or social-media companies or asset managers do not provide data into the existing credit-bureau system. In the existing ecosystem, financial institutions or lenders give up that information to a centralized party — a credit bureau — only for the financial institutions to buy it back in a synthesized form.”; the firm aims to have Avant, the online lender, be its first strategic partner. Source

  • Fintech Nexus Staff
    Fintech Nexus Staff

    This piece was created by one of our content team members. Reach us at editors@fintechnexus.com

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