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Transparency
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Transparency

FintechUSANews Roundup
·Jan. 7, 2020

Goldman Sachs to Give Investors More Transparency on Lending Operations

The Wall Street Journal reports that Goldman Sachs is planning to share more information about their different business units. The...
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FintechUSANews Roundup
·Apr. 24, 2018

Does Marketplace Lending Need Less Transparency?

A recent study by Harvard Business School looked into the contribution of marketplace lending on the overall lending market; while companies like Lending Club and Prosper have improved consumer access to affordable loans the study also discussed whether these types of platforms are too transparent; this transparency according to the study gives large investors who leverage the availability of data an advantage in buying loans resulting in an uneven playing field. Source

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News RoundupFintech
·Jan. 9, 2018

Ant Financial Apologizes for Automatic Opt-in to Sesame Credit

AliPay launched a free service this week which allowed users to generate a profile based on their shopping history; users who signed up were automatically enrolled in their credit-scoring system called Sesame Credit unless they unchecked a box; this led to an outcry from users and a subsequent apology from the company; Bloomberg shares how this highlights a broader concern over transparency of user data in the country. Source

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Peer to Peer Lending
·Dec. 1, 2016

PeerIQ and TransUnion Partner to Provide More Transparency to Marketplace Lending

Today, PeerIQ announced a partnership with information solutions provider TransUnion. PeerIQ is known for its data and analytics capabilities in...
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Peer to Peer Lending
·Jun. 6, 2016

The Opportunity in Difficult Times

It has been exactly four weeks since the big Lending Club news. The marketplace lending world has not fallen apart...
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News Roundup
·Jan. 7, 2020

Goldman Sachs to Give Investors More Transparency on Lending Operations

The Wall Street Journal reports that Goldman Sachs is planning to share more information about their different business units. The...
Read Full Story
FintechUSANews Roundup
·Jan. 29, 2018

Banks Start to Rethink Fee Models because of Fintechs

Banks have historically made money on overdraft fees, out-of-network ATM fees, fees for not maintaining a certain minimum balance and more; this fee structure has helped give banks a bad name; big tech companies and fintech startups have garnered a better reputation for upfront fees for a simple service and transparency around other fees; “It’s important to let consumers understand what you’re offering, what the fee structure is — and be abundantly clear about it — and then you can build trust,” said Jay Shah, CEO of Personal Capital to TearSheet; studies show that customers are not turned off by fees, but are annoyed when they hear of free checking then see ACH transaction fees or overdraft fees; banks need to begin to understand what their customers want and how much they are willing to pay for it in a clear way. Source.

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News RoundupFintech
·Nov. 15, 2017

Ant Financial Responds to Transparency Concerns

Moody’s Investors Service had previously stated that companies like Ant needed to be more transparent about their asset-backed securities and their criteria for lending; Douglas Feagin, senior vice president of global business for Ant Financial stated, “The demand for these securities is very healthy and continuing to expand. That, at the end of the day, is the ultimate barometer of whether you're giving enough information to investors to invest. I think seeing that demand is evidence that we're sharing the right kind of information with them.”; article discusses the abs market broadly in China which has increased recently. Source

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Peer to Peer Lending
·Aug. 22, 2016

Not Shady At All: Perspective on Repeat Borrowers at Lending Club

Last week Bloomberg published a lengthy piece titled “How Lending Club’s Biggest Fanboy Uncovered Shady Loans”. The article focuses on...
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Peer to Peer Lending
·Aug. 6, 2015

Marketplace Lending Leaders Create Small Business Borrowers’ Bill of Rights

A press release this morning outlined Small Business Borrowers’ Bill of Rights created by small business advocates and both online...
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