Chinese P2P lender Dianrong is looking to implement blockchain across their entire company to enhance transparency and security for their customers; this is in addition to a recently announced partnership with Taiwan-based Foxconn to launch a blockchain startup called Chained Finance; according to CoinDesk Dianrong's blockchain plans are detailed on their website and they explain using an ethereum-based solution designed to facilitate tamper-proof loan contracts, donations to charity and credit management; Dianrong is also rumored to go public sometime in the near future, though IPO talk has been discussed for a few years. Source
As Klarna plans to lay off 10% of its workforce, rival fintech firms Revolut and Wise say they’re hiring for hundreds of open roles.
Leading UK challenger bank, Revolut, is growing fast and now has around four million customers; they are adding new customers...
Dobot was launched in 2016 and was acquired by regional bank Fifth Third Bank last year; the app is designed...
A record number of Americans experienced identity fraud in 2017, that represents an 8 percent increase from 2016; according to a study by Javelin 16.7 million people were hit by identity fraud; the rate of increase for identity fraud has slowed from 2016 but Americans that were notified about a breach also went up 30 percent; fraud prevention has become one of the main topics in fintech and banking as companies look to leverage new technologies like AI and blockchain for solutions. Source.
Michael and I talk about how Altro was able to work with bureaus to create this trade line, where the credit score is today, and more.
The president of the Federal Reserve Bank of Minneapolis doubled down on his call for stiffer capital requirements and said master account access decisions should stay with the regional Fed banks.
365 Business Finance has completed a £55 million debt and equity raise, as it aims to quadruple its lending to SMEs over the next two years.
Deserve, a Fintech company transforming credit cards into mobile-centric software, has received a strategic investment from Visa to expand access to Deserve’s credit-card-as-a-service for financial institutions, Fintechs and brands. Visa joins Mission Holdings, Mastercard, Ally Ventures, Goldman Sachs Asset Management and Sallie Mae in supporting