Banks have been given a deadline of early 2018 to comply with new regulations that will allow for open banking; many industry experts believe this deadline is too tight; to comply, banks would need to completely overhaul their current security infrastructure and banks are not known to rapidly change anything; the UK's big four - Lloyds Banking Group, HSBC, Barclays and Royal Bank of Scotland - control 77% of personal current accounts and 85% of business accounts; these new regulations will allow consumers to control access to their data and give them comparison tools to shop for the best mortgage, credit card or loan. Source
A new report released today by the law of firm of Manatt, Phelps & Phillips, LLP shows that community and...
According to the New York Times the long awaited online lending platform from Goldman Sachs now has a name: Marcus....
There was an article published in American Banker yesterday titled, Bank Branches Don’t Die, They Evolve. For those who don’t...
[Editor’s note: This is a guest post from Caribou Honig. Caribou is one of the founding partners of QED Investors,...
Manatt, Phelps & Phillips, LLP has released a report based on survey results from 75 executives and investors at banks, fintech companies and private equity firms; Lend Academy provides a summary of the report in their article; report focuses on the interest from regional and community banks in partnering with fintech companies; high interest from these banks since the partnerships can help them provide their services at a lower cost and also expand geographically; survey results find that the majority of regional and community banks are already engaged in partnerships with fintech firms. Source
[Editor’s note: This is a guest post from Alex Cooper, Founder and CEO of Rezzcard. Alex is a fintech innovator and social impact...
Bank partnerships are nothing new when it comes to the marketplace lending industry. As the industry has continued to mature...
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[Editor’s note: This is a white paper from Deloitte. Deloitte is a Gold Sponsor at LendIt USA 2016, which will take place on...
At the end of every year I like to look back at the biggest stories that made news in the...