Sharestates is raising capital for a Series A funding round on SeedInvest; planning for potential investment of $3 million in preferred equity; Sharestates provides real estate investment opportunities and access to capital on its platform; has total loan originations of $178 million. Source
Fiserv partnered with TransUnion to use their CreditVision Link software to help asses risk in their auto loan origination system; Fiserv is specifically looking to identify higher risk borrowers as they look to reach more of the underbanked; Steve Chaouki, executive vice-president and head of TransUnion’s financial services business unit, says the integration “enables lenders to score approximately 95% of the US adult population” as reported by Banking Technology. Source.
SoFi completed a $727mn issuance, entitled SCLP 2017-6, which makes it the largest consumer ABS deal; this is SoFi’s 11th ABD deal in 2017 worth over $6bn; SoFi said the joint lead managers on SCLP 2017-6 were J.P. Morgan, Deutsche Bank, Goldman Sachs, and Mizuho Securities. Source.
BFS Capital Inc., a leading small business financing company, announced that it has appointed Michael Marrache as chief executive officer to succeed outgoing CEO and co-founder Marc Glazer; Michael has been with the company for four years and previously served as COO then President; "I began work with BFS Capital nearly four years ago because I thought the company had enormous potential, and I'm even more certain of this today. I'm honored to have been asked by Marc and the board to lead the company's next phase of growth," said the new CEO; Marc Glazer will continue in his role as chairman of the board. Source
The three executives leaving the company include marketing chief Joanne Bradford, head of risk Kevin Moss and capital markets exec...
Amazon has a number of clients using Alexa for financial advice and solutions architect Felix Candelario says, "Natural language processing is the new rocket science."; clients include UBS, LPL, Fidelity, Capital One and Betterment; overall, machine learning innovation is providing for new technology solutions and pairing it with voice automated interactions adds a new element of service for customers. Source
Digital banks that cater to entrepreneurs and freelancers are having a huge impact during the pandemic; more than 16 million...
Some Americans are already receiving stimulus funds via direct deposit; however the reality is that many consumers still lack bank...
Business Insider takes a look back at one of the biggest trends in finance from 2017; Initial Coin Offerings or ICOs have become one of the main ways for companies in the blockchain space to raise capital; more than $3.5bn was raised using this method; some of the top raises include $153mn by The Bancor Protocol, $232mn by Tezos and $257mn by Filecoin. Source.
Innovate Finance published their annual list of women in fintech and while progress has been made, more work is needed; Innovate Finance CEO Charlotte Crosswell said "We’ve still got work to be done. When you look at statistics of women in fintech — it’s not there yet.”; other leaders like Anne Boden of Starling Bank said we all need to try harder; studies also show that the more diverse a team the better they perform. Source.