In an interview with P2P Finance News, Adair Turner cites P2P loan securitizations and other evolving forms of structured credit as high risk, causing a potential "red flashing light" for regulators; speaks of the evolution of the asset class as securitization portfolios from P2P lenders have been increasing in 2016; discusses complex structured investment vehicles as the most high risk specifically those issuing short term debt against longer term holdings. Source
I80 Group meets an essential but largely unmet need in fintech — scalable, non-dilutive capital, its founder and CIO Marc Helwani said.
Embedded finance has been caught in the convergence of instant payments and open banking. It could be its time to shine.
The Federal Open Market Committee (FOMC) ended its two-day policy meeting on Wednesday and released an afternoon announcement reporting no change to the central bank borrowing rate which will remain at 0.25% to 0.50%; as expected the FOMC's statement did indicate that a rate hike in December was likely with new language saying the 2% inflation objective is near and that the Fed only needs "some further evidence" of economic progress for a rate increase; globally the US is one of few central banks tightening monetary policy; many are easing with negative rates; Japan's central bank borrowing rate is -0.10% and the ECB central bank borrowing rate is at 0% for the Eurozone; the Bank of England will be meeting on Thursday and is expected to keep its rate unchanged with further easing in 2017. Source
The Financial Conduct Authority (FCA) has launched a study analyzing the UK's mortgage industry; study will focus on the industry's tools for consumers and the partnerships among mortgage lenders; the FCA will specifically seek to identify ways to better utilize technological solutions within the industry; the FCA will be obtaining information from a range of market participants and plans to release the results of the study in an interim report in 2017 followed by a comment period and final report in 2018. Source
Student loan marketplace lender, Earnest, has completed its fourth securitization; Goldman Sachs and Barclays were the lead arrangers; portfolio valued at $174.44 million; the October securitization is the fourth for the year with previous securitization deals in February, May and July. Source
Jiedaibao, launched by JD Capital, would give people looking to engage in debt recovery all kinds of personal data belonging to overdue debtors, including phone numbers, addresses and even ID card numbers; releasing this kind of information would allow for any freelance debt collector to harass borrowers into paying their overdue amounts; this type of practice in China is not all that unusual as past debt collection efforts have discussed the release of nude photos if payments are missed; the agreement would give the "debt collector" 40% of the debt paid. Source
When funding rounds are down and smaller than they used to be, some fintechs switch to asset-based and Venture debt to keep kindling on the burn rate pile.
LendIt’s sister company, NSR Invest, is looking for a new Investment Director who will be responsible for deal execution, deal...
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