Marketplace Lending News Roundup – January 25th, 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.

What’s Visa Going To Do With Plaid? by Forbes – In his weekly Forbes column Ron Shevlin critiques the four different perspectives on the Visa/Plaid deal and what it actually means for the future of fintech.

The backstory of Goldman Sachs’ Marcus app, three years in the making by American Banker – Interesting conversation with Adam Dell, the founder of Clarity Money (now part of Marcus) on the thinking behind the new Marcus app.

FICO Changes Could Lower Your Credit Score by The Wall Street Journal – Interesting moves by FICO as reported by the Wall Street Journal today. Now, if you take out a debt consolidation loan and continue to rack up credit card debt you will be penalized. Hopefully, this will lead to better consumer choices.

What the hell happened to Mint? by Fast Company – I have been a Mint user for more than a decade (but am in the process of moving on). It still amazes me the lack of innovation from Intuit on this. Mint was, in the first decade of this century, a groundbreaking product.

The reason Even waited on rolling out automated savings by American Banker – Financial wellness fintech startup Even has added an automated savings tool to its offerings. Another great Penny Crosman piece in American Banker.

A battle is brewing over your financial data by Quartz – Plaid is not the only game in town when it comes to connect bank account data. Swedish firm Tink has just raised €90 million in a new funding round.

UK fintech Monese to exceed £1bn value with latest fundraising by The Financial Times – The UK fintech scene is about to get another unicorn with the digital bank Monese completing a large fundraising round.

SoFi dumps Visa for MasterCard as it plans to issue credit card this year by San Francisco Business Times – SoFi’s debit card is moving from Visa to Mastercard and they will be deepening their relationship with Mastercard as they launch a credit card later this year.

Central banks join forces to look at future digital currencies by Reuters – A new group has been formed to study digital currencies that includes the central banks of Britain, the euro zone, Japan, Sweden and Switzerland.

LendingClub President: FICO’s New Model Won’t Save A Credit Scoring ‘Dinosaur’ by PYMNTS.com – LendingClub’s Steve Allocca does not have very nice things to say about FICO’s new credit scoring model.

 

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