Tagged: banking

August 9, 2016 @ 9:50 am By JD Alois  |  

“CMA Sticks to its Guns” The Competition and Markets Authority (CMA) has published its final report on the UK retail banking sector. The government initiative has concluded that highstreet banks do not compete enough for customers’ business. Simultaneously, challenger banks find it difficult to compete… Read More

July 13, 2016 @ 2:01 pm By JD Alois  |  

At a Congressional hearing yesterday on Marketplace Lending that was described as being “educational”, Rob Nichols, of the American Bankers Association,  presented testimony and answered questions along with several other individuals engaged in finance. While the topic was  ostensibly “Fintech”, a better label may have… Read More

May 20, 2016 @ 3:33 pm By Samantha Hurst  |  

Less than 48 hours after launching its highly anticipated Seedrs initiative, digital-only bank, Tandem, has successfully secured over £2 million from over 1,300 investors. The company surpassed its  initial £1 million goal just hours after the crowdfunding debut.  The bank currently aims to provide the most helpful, not… Read More

May 19, 2016 @ 9:59 am By Samantha Hurst  |  

Tandem’s highly anticipated crowdfunding campaign is now open for funding! Just hours after its Seedrs launch, the digital-only bank’s initiative has already surpassed its initial £1 million goal and is currently sitting at £1.6 million. The bank currently aims to provide the most helpful, not the most painful,… Read More

May 2, 2016 @ 9:06 am By Samantha Hurst  |  

  goHenry, an online banking solution that helps children manage their money responsibly, launched a Crowdcube initiative to raise £2 million as it prepares to expand its services throughout Europe. The campaign not only secured its initial goal in 48 hours, it is currently nearing £3 million from close… Read More

April 28, 2016 @ 11:00 am By Samantha Hurst  |  

This week, UK digital bank Tandem announced that it was launching a crowdfunding campaign to raise $1.4 million. This funding round is reportedly part of the company’s “co-founders” program, which allows customers to own shares of the business. Tandem aims to provide the most helpful, not the… Read More

April 25, 2016 @ 9:33 am By Samantha Hurst  |  

goHenry, an online banking solution that helps children manage their money responsibly, launched a Crowdcube initiative over the weekend to raise £2 million as it prepares to expand its services throughout Europe. Within just 48 hours of its debut, the campaign not only secured its initial… Read More

March 17, 2016 @ 5:48 am By Erin Hobey  |  

Top banking executives fear that up to a quarter of their business could be at risk from emerging fintech firms, according to research conducted by PwC.  The report notes that information on FinTech is somewhat “dispersed and obscure,” which can make data synthesizing challenging. PwC’s… Read More

March 3, 2016 @ 7:41 am By JD Alois  |  

After a challenging problem of too much demand and not enough supply,  Mondo is back on Crowdcube today to allow smaller investors the opportunity to invest in the possible future of banking. RELATED: Mondo Bank Raises £1 Million in 96 Seconds. Sets Equity Crowdfunding Record At… Read More

March 1, 2016 @ 2:52 pm By Samantha Hurst  |  

Following the announcement that Mondo’s highly anticipated Crowdcube campaign would not be live today due to technical difficulties, CEO of the digital only challenger bank, Tom Blomfield, revealed the company will open share purchases this Thursday (March 3rd). Blomfield shared in an email this afternoon: “As… Read More

March 1, 2016 @ 9:06 am By Samantha Hurst  |  

Mondo, the digital only challenger bank, attempted to sell shares on Crowdcube yesterday but demand was so robust the site became overloaded causing a temporary halt to any sales.  Crowdcube has posted  a Status Page, saying they are sorry.. “The launch of the Mondo campaign… Read More

February 9, 2016 @ 4:19 pm By Samantha Hurst  |  

Loan approval rates at both big banks and small banks dropped in January 2016, according to the Biz2Credit Small Business Lending Index, the monthly analysis of more than 1,000 small business loan applications on Biz2Credit. Additionally, loan approval percentages at credit unions fell to an… Read More

January 29, 2016 @ 2:27 pm By JD Alois  |  

  SoFi is one of the fastest growing marketplace lending platforms in the United States. The direct lender started by providing student loan services to well-educated young professionals. These borrowers were typically ignored by banks as the monolithic banking model and its antiquated process denied reality… Read More

January 22, 2016 @ 2:24 am By Midori Yoshimura  |  

2015 was a great year for financial technology (fintech), as recently released stats from Berkery Noyes show. Among other findings, 2015 saw 427 fintech mergers and acquisitions, a total transaction volume increase by 14 percent over 2014, from 376.  Total transaction value in 2015 more than doubled over… Read More

January 11, 2016 @ 10:30 am By JD Alois  |  

John Biggs, East Coast Editor of TechCrunch, says he is leaving the “best job I ever hard” to launch a Fintech startup. While Biggs is still listed as an Editor at TechCrunch and the stories continue to roll in, but the migration to entrepreneur is clearly under… Read More

January 11, 2016 @ 8:50 am By JD Alois  |  

SaaS banking provider Mambu has raised €8 Million in a funding round led by CommerzVentures and Acton Capital Partners. CommerzVentures was established in October 2014 by Commerzbank AG as its corporate venture capital fund. Existing investors also participated in the most recent funding round. According to… Read More

January 9, 2016 @ 3:13 am By Midori Yoshimura  |  

Yirendai, an online consumer finance marketplace in China, on Thursday announced the appointment of Chaomei Chen, former chief risk officer of Lending Club, as a member of the company’s Advisory Committee, effective Jan. 7, 2016, according to a recent press release. Chen will provide strategic advice and insight to… Read More

January 6, 2016 @ 11:33 am By JD Alois  |  

Yep. The Federal Reserve agrees. Small community banks have been crushed by excessive regulations. In the past, these localized financial institutions have been the foundation of economic growth for SMEs.  But misguided laws from  myopic politicians driven by the battle cry of “too big to… Read More

January 3, 2016 @ 2:29 pm By JD Alois  |  

Since the financial crisis over 500,000 banking jobs have disappeared. Anytime there is a downturn on Wall Street jobs disappear. But is this time different? Bloomberg states; “Staff reductions at some of the world’s biggest banks are far from over. Deutsche Bank AG, which has… Read More

December 31, 2015 @ 11:23 am By JD Alois  |  

The shift from traditional finance to internet finance is a global phenomenon. Just as the print industry has cratered as readers and advertisers have swiftly migrated away from dead trees to digital content products, all forms of finance is moving online. Korea is no different…. Read More