According to the bank statement, “In view of the associated risks, it has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling [virtual currencies].”; the government had previously issued warnings about risks around trading cryptocurrencies; the Reserve Bank of India is more open to the development of blockchain technology. Source
The company passed £1bn in 2016 after 5 years and booked another £1bn in just 14 months; part of their success in increasing originations has been due to two new products, confidential invoice discounting and business loans; their larger institutional investor base has also allowed them to fund larger businesses with bigger funding requirements; in 2017 the firm lent £714.2m to businesses. Source
Over $36 Million in Crypto Donations Sent to Ukraine. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Fintechs pequeñas tendrán dificultades para captar capital y las grandes deberán cumplir objetivos palpables, dicen inversores como Softbank y Magma Partners...
According to Reuters Goldman Sachs is acquiring the boutique wealth management firm, Folio Financial, for an undisclosed amount; Goldman Sachs...
Wells Fargo, Morgan Stanley, JPMorgan Chase and others have launched or will launch their own robo products to compete with slicker startups; after seeing the success of startups in the space the banks realized they needed to improve their offerings to keep customers and attract newer, younger ones; the trend to move away from white labeling technology to building their own is a recent one as some traditional players like UBS, State Street and John Hancock are still using services from SigFig, Motif or NextCapital. Source.
There is a new trend occurring at big banks, CMOs are becoming the driving force behind the change in marketing and a cleanup in digital media ads; most people still use and trust banks, even after the financial crisis and the recent bad news of big fines or scandals; recently the focus in banking has shifted to customer experience and marketers have become as big a part of the product teams as they are of the marketing teams; customers are starting to expect their experience to be more personalized, focused and more impactful to their lives; marketers have moved beyond their role of storytelling and moved into a more active role on how to drive the best experience for the different customers. Source.
China’s fintech market is the biggest and most powerful in the world, especially when it comes to Alipay and WeChat...
Jason Gottlieb, a partner at Morrison Cohen, told Crowdfund Insider that, in his opinion, “Despite its firm view that most (and maybe all) ICOs were unregistered securities offerings, the courts have not yet decided whether the “coins” or “utility tokens” are truly securities.”; the reports point to the SEC investigating at least 12 ICOs and their gatekeepers; regulators have been increasing their understanding of the space in the last year as the ICO market has taken off. Source.
Jared Hecht is the CEO and Co-Founder of Fundera, a comparison site for small business loans; like all companies in...