Marketplace Lending News Roundup – February 1st, 2020

News

During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.

Europe’s popular challenger banks Revolut, Monzo, and Starling are in a fundraising arms race. Here’s what we know about the mega-rounds by Business Insider – There is a new funding round coming from Revolut, possibly as soon as later this week, and it is going to be huge.

Philip Hammond joins advisory board of fintech OakNorth by Financial Times – UK challenger bank OakNorth gets a high profile addition to their advisory board with former Chancellor, Philip Hammond.

N26 reaches 5 million customers, including 250,000 in the US by Techcrunch – The German challenger bank had a great 2019, adding 2.5 million customers and it now one of the biggest digital challenger banks in the world.

Goldman Sachs: will Solomon’s consumer gamble pay off? by Financial Times – Today is the first ever investor day for Goldman Sachs. Here is an interesting preview in the Financial Times.

Here’s how 44 insiders at powerful banks, buzzy startups, and big investors are thinking about financial innovation — and why the term ‘fintech’ may be on its last legs by Business Insider – For a term that is used ubiquitously these days it is kind of amusing that there is no agreed upon definition of the word fintech.

House panel to discuss ‘rent-a-bank’ concerns in two February hearings by American Banker – Next month will be a busy one for those following fintech regulation in DC. The House Financial Services Committee will hold two hearings in February on how regulatory policy should govern loans sold across state lines.

Buy now, pay later shopping app Klarna, which lets you buy from any store with no late fees, has launched in Australia. Here’s how it works by Business Insider Australia – Klarna launches in Australia and receives $200 million investment from the country’s largest bank.

Fintech Adoption in North America Lags Global Acceptance by The Financial Brand – Interesting that the US is below average when it comes to the adoption of fintech according to the recent report by EY. Good commentary by Jim Marous on what this means for banks and fintechs.

The biggest change to credit scores in years-and what it means for fintechs by Fortune – The new changes to FICO has been a hot topic since they announced it last week. Fortune Magazine talked to some industry leaders to get their take.

Privilege And Peril In Fintech by Forbes – Really liked this piece by Jon Schlossberg of Even. Most of the people creating fintech products live privileged lives in expensive cities. It is good reminder for all of us.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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