Peter Renton, Founder of Lend Academy and Co-Founder of LendIt Fintech shares his marketplace lending portfolio performance for Q1 2018;...
Galileo Financial Technologies and Mastercardunveiled a multiyear strategic alliance in Latin Americas and the Caribbean.
PayPal’s shares have climbed close to 75 percent in 2017 and now is considered more valuable than American Express; their market cap has doubled since spinning off from eBay in 2015; while it now finds itself on the heels of Morgan Stanley and Goldman Sachs there is still some who fear they might be valued a bit too high; acquisitions, product diversification and partnership agreements have helped push the company in the last year. Source.
DriveWealth struck a partnership with investment platform Sproutfi that will allow companies to service Latin Americans investing in the U.S.
A recent report by the Cleveland Fed on online lending has caused quite the controversy over its content; the Marketplace Lending Association said the Fed should retract the report; even TransUnion, whose data the report relied upon, took issue with how they presented the material; “We have no understanding of how the Federal Reserve Bank of Cleveland could have used our data to reach the conclusions they did,” Ezra Becker, SVP at TransUnion, said to American Banker; the Fed stated the terminology used in the report has caused confusion but have yet to retract the report. Source.
Errol Damelin has been steadily growing his presence in London's fintech sector; founder of Wonga, Damelin's expertise and mentorship has helped over 200 employees currently working in London's fintech scene; his company Wonga is a case study for online payday lending in Europe and despite his exit from the company in 2014, Damelin has gone on to successfully invest and mentor a wide range of startup businesses in London. Source
Blossom Capital’s Ophelia Brown has created what is described as the first of its kind investor platform for angel investors;...
Regional remittance firm UAE Exchange partners with Ripple to facilitate instant international money transfers; UAE Exchange serves 31 countries and has over 800 offices in the Middle East region; Ripple uses their Ripple Consensus Ledger to link international firms and facilitate real-time money transfers; CryptoCoinsNews reports that UAE Exchange Group CEO Promoth Manghat stated to Arabian Business, "UAE Exchange has been investing significantly in blockchain technology, we are in the process of tying up a deal with distributed ledger startup Ripple, for real-time cross border payments."; this is the second regional financial firm to enlist Ripple, National Bank of Abu Dhabi partnered with Ripple in February. Source
The first major upgrade in electronic payments since the Automated Clearing House (ACH) was created 40 years ago and Check...
John Collison, Stripe's president, said he's "pretty unapologetic" about decisions to launch similar features to rival fintech firms.