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·May. 28, 2020

Samsung and SoFi Officially Unveil Samsung Money by SoFi

We had already known about the partnership between SoFi and Samsung, but today the companies have officially unveiled Samsung Money...

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News Roundup Online Lending Real Estate USA

·Aug. 30, 2017

Money360 and Ten-X Partner for Online CRE Lending

The partnership will focus on Money360 providing pre-arranged financing options for eligible commercial properties listed for auction on the Ten-X platform; financing options on these properties will be transparently disclosed on the platform and Money360 will work with buyers to complete the underwriting, processing and closing of the loan; the partnership expands deal flow of commercial properties for Money360, which utilizes technology to enable commercial real estate loan transactions from $1 million to $20 million. Source

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Fintech News Roundup USA

·Feb. 21, 2019

Community Activists Submit Letter to Oppose Square’s ILC Application

A group of 37 community groups sent a joint letter to the FDIC opposing the ILC application for the fintech...

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News Roundup Online Lending USA

·Mar. 6, 2017

Gregory Keough Named Gamechanger of the Year for Innovation in Emergency Lending

Gregory Keough has been instrumental in providing an industry solution for emergency financing relief through his platform Finova Financial; the firm was founded to provide a consumer friendly emergency consumer loan product with the goal of being a gamechanger for the high risk payday lending industry; in addition to the recognition of the firm's CEO, Finova has also recently received several other industry accolades including: the US Firm of the Year award for Lending Innovation by the 2017 Fintech Awards, nomination to the Fintech 100 list of the world's leading financial technology innovators and the Consumer Affairs partner accreditation. Source

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Fintech News Roundup USA

·Apr. 22, 2020

Remittances Expected to Fall 20% in 2020

The World Bank is estimating that remittances are likely to fall 20% in 2020; for reference, remittances dropped 5% in...

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Fintech News Roundup USA

·Jan. 28, 2019

Acorns Valued at $860 Million

The latest round for the fintech startup values the company above Betterment; the app helps users invest by rounding up...

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Fintech USA

·Jul. 8, 2020

FICO Releases Resilience Index to Measure How Consumers Can Weather a Financial Crisis

FICO has released a new product to help lenders figure out which consumers are most financially resilient and therefore better...

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Fintech News Roundup USA

·Apr. 16, 2018

U.S. Regulators Risk Falling Behind in Fintech

Regulators around the globe are trying to keep up with innovation happening in fintech, though the US is in danger of falling behind. Congress needs to move beyond fixing small pieces of legislation and find a better way to encourage innovation. Source.

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Fintech News Roundup USA

·May. 18, 2018

Capital One Partners with Foursquare for targeted marketing

Capital One is piloting a marketing program to push location based offers to customers; the program is meant to help...

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News Roundup Online Lending USA

·Mar. 15, 2017

Lend Academy Article: Are SoFi Borrowers Really Defaulting More?

Lend Academy provides more details on defaults triggering a breach in a SoFi securitization portfolio; the portfolio reporting the defaults was SoFi's first securitization of unsecured consumer loans, the SoFi Consumer Loan Program 2015-1 LLC; given the terms of the deal and the overall characteristics, the breach does not seem to have broad market indications; the deal arrangers set the trigger level at 3% which is a relatively low rate and the cumulative net loss is only reported to be marginally above the trigger; a chart from PeerIQ also provides more details on the cumulative net loss rates for SoFi. Source

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