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FintechNews RoundupUSA
·Apr. 26, 2017

Fintech Apps Helping Financially Stressed Families

Statistics show that volatile incomes are a factor affecting financial stress for many families; in today's market, many fintech companies are seeking to target those families with solutions that help reduce their financial stress; the Wall Street Journal provides details on apps for this target market including Even, Digit and Prism; while services for financially stressed families have reported significant interest from fintech developers, skeptics caution that achieving profitability for these businesses could be challenging. Source

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FintechNews RoundupUSA
·Apr. 26, 2017

SEC Will Review Winklevoss Bitcoin ETF Rejection

The SEC has agreed to reconsider its review of the Winklevoss bitcoin ETF rejection following a petition from the Bats exchange; a comment period is now open for support or opposition of the Disapproval Order until May 15; the SEC has not approved any bitcoin ETFs for trading also rejecting the listing of SolidX on the NYSE Arca. Source

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News RoundupOnline LendingUSA
·Apr. 26, 2017

Upgrade Opening an Office in Phoenix

Online lender Upgrade is opening an office in Phoenix; founded by former Lending Club CEO Renaud Laplanche, the firm launched in April with a fundraising of $60 million; the Phoenix office will be its first expansion from its San Francisco headquarters and the firm plans to hire 100 employees this year. Source

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News RoundupOnline LendingUSA
·Apr. 25, 2017

CommonBond Launches New Loan Products

CommondBond has expanded its loan offerings to include undergraduates; its products now include loans for undergraduate and graduate students, refinancing options for graduates and employer student loan benefits; its newly launched in-school loans have variable APRs starting at 2.87% and fixed APRs starting at 5.50%; they will also include a range of repayment options; in combination with the new loan offerings CommonBond will also partner with Pencils of Promise to support the educational funding of a child in need for every new loan funded on the platform; additionally, CommonBond has announced new online tools for comparing loans; the firm is also building out its employer student loan benefits product which involves integration with Gradible, which it acquired last year. Source

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News RoundupOnline LendingUSA
·Apr. 25, 2017

SmartBiz Loans Adds Five Star Bank to Its Network

Five Star Bank will join the technology ecosystem of SmartBiz Loans; as an SBA loan partner, Five Star Bank's loans will now be available as a loan financing option for small businesses seeking funding on the SmartBiz Loans platform; in addition to matching services, SmartBiz Loans also helps to support fast and efficient loan processing through its bank-enabling technology; the partnership will help increase the availability of loans for small businesses on the platform and also support new business development for Five Star Bank. Source

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FintechNews RoundupUSA
·Apr. 25, 2017

Roostify Appoints New Chief Revenue Officer

Automated mortgage transaction technology firm Roostify has announced Frank Gelbart as its new chief revenue officer; Frank Gelbart has over 20 years of experience with technology companies and was previously president, CEO and co-founder of Appfluent Technology; Roostify is a fast growing startup and is currently partnering with JPMorgan for mortgage lending technology innovation. Source

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FintechNews RoundupReal EstateUSA
·Apr. 25, 2017

Patch Homes Launches New Service for Homeowners

Patch Homes has officially launched after operating in private beta; the platform seeks to allow homeowners to greater utilize the equity in their homes; by offering investment versus a home equity loan, homeowners contract with Patch Homes for capital proceeds that can be used for any type of financing needs; Patch Homes then shares in the gains and losses on the home's value over the contracted timeframe; Patch Homes has identified a $4.5 trillion home equity market in the US; along with its launch it also announced $1 million in fundraising to support its growth and to expand its offering beyond California. Source

 

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FintechNews RoundupUSA
·Apr. 25, 2017

Chart of the Week: US Leads in Fintech Patents

Global fintech patents reached 9,546 in 2016 with a growth rate of 49% over the past five years; the US leads in fintech patents with 4,523 and it has twice as many fintech patents as the second ranking country, China; both startups and traditional financial services firms have been active in the patent process for new fintech technology. Source

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News RoundupOnline LendingUSA
·Apr. 25, 2017

Kroll Assigns Ratings for Avant Loans Funding Trust 2017-A

Kroll Bond Rating Agency has assigned ratings for Avant's most recent securitization deal; the portfolio includes three tranches of consumer notes valued at $192.6 million; ratings for each of the three tranches are included in the chart above and range from A- to BB. Source

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News RoundupOnline LendingUSA
·Apr. 25, 2017

Lend Academy Article: The Five Key Elements for New Lending Club and Prosper Investors

Lend Academy provides a resource for new investors in Lending Club and Prosper; their article includes five basic principles for investing in the platforms; the five key elements for investing include: 1) diversify investments 2) expect defaults 3) keep cash balances low 4) automate investing and 5) avoid taxes by investing through an IRA. Source

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