Lending data solutions provider Envestnet|Yodlee has released Risk Insight Suite; Risk Insight Suite builds on the firm's data aggregation and analytics capabilities, providing lenders with a broader solution for obtaining data and evaluating a more comprehensive set of consumer and business data for loan underwriting; the Risk Insight Suite can potentially provide broader access to credit by including expanded profile information from sources such as a borrower's financial institution with data on assets, income and expenses. Source
eOriginal has appointed Brian Madocks as the firm's new CEO; co-founder Stephen Bisbee will become president of the firm working directly with Madocks on eOriginal's digital documentation offerings and the company's growth; Madocks brings 25 years of business technology and application software experience with work in executive roles at Rivitas Inc., Vitalyst Inc. and SunGard Higher Education. Source
Leading digital transaction management firm eOriginal has been selected to manage electronic documentation processes for Fannie Mae; as a government sponsored enterprise (GSE) Fannie Mae works with lenders nationwide; the eOriginal services will help improve all of the GSE's associated mortgage loan transactions providing support for lenders and loan portfolio services for Fannie Mae; in comments on the partnership, Cindy McKissock, vice president of customer digital experience at Fannie Mae said: "We continually look for ways to help lenders who want to deliver an end-to-end digital mortgage experience. In addition to investing in new eVault infrastructure, we are also simplifying eMortgage adoption by transitioning to the MISMO SMART Doc™ Version 3.0 format in 2017. This will reduce complexity and allow lenders and technology solution providers to adopt eMortgage with greater ease." Source
Equbot has created an AI Powered ETF (ticker: AIEQ); it analyzes massive amounts of data to create a portfolio of 30-70 stocks; some of the data sources include regulatory filings, quarterly news releases, articles, and social media posts; a major difference of the fund is that the bot’s methodology can be explained; the fund launched on October 18, 2017 and has about $70 million in assets. Source
Equifax announced late yesterday that it has acquired the small business data analytics company Paynet; Paynet provides commercial credit risk...
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In this week’s PeerIQ Industry Update they cover the recent rebound of equity markets after a volatile few weeks, regulatory news and a deep dive on fintech M&A; OnDeck announced they had reached GAAP profitability and it was reported that SoFi missed their internal targets; PeerIQ takes a deep dive on why banks should buy online lenders; some of the key reasons inclined ROE potential for the banks and to avoid potentially losing market share to big tech firms who might enter the space in the next few years. Source.
In a note circulated to clients equity research firm D.A. Davidson said Overstock.com is the clear leader in blockchain technology; "Our research increased our conviction that, today and likely in the near-term, Overstock stands head and shoulders above the others" analyst Tom Forte of D.A. Davidson said as reported by Business Insider; the company was the first retailer to accept bitcoin payments and as a result saw their stock rise 265 percent in the last 12 months. Source.
Layoffs are increasing all across the country and Silicon Valley is not immune to feeling the pain of the crisis;...