Facebook's data and privacy rules have slowed business development plans for insurtech firm, Admiral; many fintech firms have sought to use social media profiles in crowdfunding with little success for various reasons; insurtech firm, Admiral, will now be forced to end its plans to use Facebook social media posts and likes for consideration in auto insurance underwriting; Facebook says use of the information is a violation of its data privacy rules. Source
N26 has partnered with Auxmoney to offer consumer loans; the partnership will open the loan offering to the digital bank's over 300,000 customers, providing options for self-employed, freelancers and students; loans will range from EUR1,000 ($1,181) to EUR25,000 ($29,527) with terms ranging from 12 to 60 months and annual interest rates beginning at 3.95%. Source