P2P lending fund cites legacy Zopa portfolio for lower returns Digitizing construction finance with Rabbet’s Will Mitchell AI Is Coming...
Barclaycard is rebranding as Barclays in the US and launching a digital only bank in 2018; they have been testing the market since last year and plan to fully launch their offering next year; Barclays is more of a household name in the UK but has been offering credit card services under the Barclaycard name in the US. Source.
In a press release this week, marketplace lender, SoFi, provided more details on its partnership with Protective and announced the launch of a new term life insurance offering for millennials; product provides life insurance for up to $1 million and features a 20 minute application and approval process. Source
Thomas Curry spoke on the Office of the Comptroller of the Currency's fintech charter at LendIt USA; Curry primarily refuted arguments against the OCC's authority for establishing a fintech charter; Curry sited the National Bank Act stating, "To be clear, the National Bank Act does give the OCC the legal authority to grant national bank charters to companies engaged in the business of banking."; the banking charter would encompass all fintech companies engaging in banking activities regardless of whether or not they take banking deposits; the OCC is still evaluating the provisions of the fintech charter following its December 2016 white paper and comment period which ended in January 2017. Source
Point of sale loans even at 0% are not new; the idea is that a retailer can bring in more...
Goldman Sachs slowed originations for their personal loan product through Marcus after they launched the Apple Card; “The slowing pace...
Affirm has struck a partnership with Shopify to power their buy now pay later product; “We’re super excited to be...
Funding Circle’s latest securitization is their second securitization of US loans; The $252 million securitization (Small Business Lending Trust 2020-A...
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
T-Mobile is officially getting into banking with a big nationwide push to sign up customers for no-fee checking accounts; you...