Amazon has published a case study on the digital bank Monzo; Monzo leveraged AWS to build their bank which now...
EBANX, the payments platform in Latin America, announced on December 15, 2021 that it has acquired Remessa Online, a Brazilian Fintech firm that specializes in international remittance services, 'in a deal valued at $229 million.' With the addition of Remessa Online's expertise and tech, EBANX
Until we have true interoperability across payments platforms, competition will be stunted. Cryptocurrencies offer a model solution to breaking the hold banks and card networks have on consumer choice.
Writing a guest post for FT Alphaville Victor Basta, managing director of boutique investment bank Magister Advisors, says 2018 will be a year of falling valuations. The drop could hurt aspiring companies looking to go public soon, though a correction in valuations could be a long term positive for the market. Source.
The company securitized $2.6 billion in Q1 2018, representing a 35% increase over the prior year period; three transactions took place, two student loan deals and one consumer loan deal; medical residency loans were included for the first time in SoFi 2018-B Notes; SoFi is a top-ten ABS sponsor, coming in at seventh. Source
Wirex, a crypto and payments ecosystem, has expanded the Wirex Credit program to new regions and "developed additional features."...
Though the company started off as a P2P lender, Lufax has diversified their offerings with great success and now views themselves as a Charles Schwab for the 21st century; as CEO Gregory Gibb says, "The truth is, we started there, but it represents less than 10% of our business volume today. So I think we're really very much an online wealth management platform."; Lufax focuses their business on wealth management, credit-rating services and institutional services where 60% to 70% of its solutions are based on traditional credit-rating metrics, with the remaining 30% to 40% centered on big data. Source
Forbes has released their third edition of the Fintech 50 list which includes 22 new companies; companies included all have operations, customers or impact in the US. Source
One of China’s largest online lenders has shelved their IPO because of the regulatory crackdown on online lending; the FT reports that Lufax is waiting until the China Banking Regulatory Commission (CBRC) required online lenders to apply for a license; the current thinking is the government will approve licenses in April, though the time frame could be a bit longer; Lufax wants to ensure they get it right instead of rushing to be first. Source.
Altpay is a B2C neobank designed to “take away the hurdles of traditional banking” and Finz is a hyper-personalised payment reward card.