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.
Digital challenger banks stockpile cash at record rate from Financial Times – The Financial Times discusses the new report out this week from CB insights that shows digital banking is the fastest growing segment of fintech in 2019.
The Federal Reserve Is Too Late To The Real-Time Payments Party from Forbes – Interesting observations from Ron Shevlin on FedNow, the new real time payments system announced last week by the Federal Reserve that will supposedly be ready by 2023. Basically, they should have made this announcement years ago.
Fintech P2Binvestor has Financed Over $1 Billion in Lending: A Discussion with Founder Krista Morgan from Crowdfund Insider – Q&A with Krista Morgan, the CEO of P2Binvestor on crossing $1 billion in originations, partnering with banks, her experience as a female fintech founder, their expectations for the rest of the year and more.
Fintech Debt Investors Follow Equity Dollars Into Latin America from Forbes – Latin America is hot in fintech right now. There have been some big equity deals done recently and now the debt investors are coming.
It’s Time For Regulators To Expand Opportunities For Smaller Investors from Forbes – Good piece by Brew Johnson of PeerStreet on the need for the accredited investor rule to be changed. This is long overdue.
Funding Circle Surpasses $10 Billion Lent to Small Businesses Globally (press release) from BusinessWire – Big milestone for Funding Circle announced today. They have crossed $10 billion in total loans issued globally.
Monzo launches loans, but they’re not the cheapest from AltFi – I have been waiting for the UK digital banks to embrace lending. Today, we learned that Monzo has launched a consumer lending operation (in house) with loans up to £15,000.
Elevate Credit’s 3 Powerful Weapons from Seeking Alpha – On Seeking Alpha an article by our good friend Timothy Li on why he thinks Elevate has distinct advantages over their competition.
SoFi Co-Founder’s New Startup Aims to Raise Funds at $1 Billion from Bloomberg – It looks like Mike Cagney is in the midst of another fundraise. This one could value Figure at $1 billion, which would make it the second fintech unicorn he has founded in the last decade.
Silicon Valley is eating the banks’ lunch from The Financial Times – As many fintech companies, as well as big tech, are taking on the banks they are at risk of having their Kodak moment.