Business Insider takes a look back at one of the biggest trends in finance from 2017; Initial Coin Offerings or ICOs have become one of the main ways for companies in the blockchain space to raise capital; more than $3.5bn was raised using this method; some of the top raises include $153mn by The Bancor Protocol, $232mn by Tezos and $257mn by Filecoin. Source.
American Banker takes a look at 6 ways payments has become a prominent theme during the Super Bowl; pizza chains...
Santander Consumer USA Holdings describes itself as a technology-driven consumer finance company; they focus on vehicle finance, and have been originating retail installment contracts since 1997; company announced originations for the quarter of $5.2 billion; "Fewer originations are in part due to our disciplined underwriting standards as we are committed to driving originations at the right price and structure, and in part due to increased competition in the prime space," said Jason Kulas, president and chief executive officer. Source
Varo is inching closer to becoming a fully regulated digital bank; they have closed a new funding round, a $241...
In this week’s PeerIQ Industry Update they cover the continued strength in the economy which grew by 2.6 percent in...
After completing a 16 month pilot program Morgan Stanley has announced their robo advisor Morgan Stanley Access Investing; there is a $5,000 minimum with a 0.35 percent fee and they will offer 11 portfolios, including a socially responsible option; the goal of the new service is to offer current clients’ children a better, more affordable wealth management option. Source.
Only 8 percent of cybersecurity heads at U.S. financial firms report directly to the CEO; a survey done by the Financial Services Information Sharing & Analysis Center showed the lack of access for cyber heads and pointed to other vulnerabilities; one of the biggest areas for improvement of defenses is better employee training as people can click the wrong link and open systems up; most firms, 54 percent, compile quarterly security reports while 18 percent do bi-annual reports and 16 percent do annual reports. Source.
While both the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp are examining the possibility...
Robinhood has been in the news in recent months related to multiple outages; now the company is rumored to be...
America’s Credit Union (ACU) partners with cross border payments company Veem to expand their reach to small businesses; the partnership...