Marketplace Lending News Roundup – September 8

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.

Will QR codes wipe out cash and cards? from The Finanser – We know that something is going to replace cash eventually. Chris Skinner argues that it may well be the QR Code, it is already firmly embedded as the primary payment method in China.

Varo Money’s bank charter application gets conditional OCC approval from American Banker – In a positive development for digital banking in this country the OCC has conditionally approved the bank charter application from Varo. They still need FDIC approval.

American investor Warren Buffett sets his eyes on India’s fintech market from DW Akademie – Warren Buffet is a fan of Indian fintech as demonstrated by his $360 million investment in the parent company of Paytm, the leading Indian mobile payments company.

International P2P Lending Volumes August 2018 from P2P-Banking – The European p2p lending loan volumes are out for August with Latvian platform Mintos reporting the biggest loan origination total.

The Problem with Banking Today … is Banking from Crowdfund Insider – A scathing critique of modern banking from Brian Dally of Groundfloor.

Funding Circle, a British tech unicorn, plans an IPO from The Economist – The big news of the week was the announcement of the Funding Circle IPO, even The Economist is writing about it.

Small-business borrowers on verge of consumer-style protections in Calif. from American Banker – California is set to become the first state in the nation to require certain disclosures on rates and costs on small business loans up to $500,000.

HSBC plans digital bank to counter online rivals from The Telegraph – The largest lender in Europe, HSBC, is getting set to roll out a stand alone digital bank focusing on small business customers.

The New Mortgage Kings: They’re Not Banks from The Wall Street Journal – This past decade has seen the rise of non-bank mortgages and now they account for more than 50% of total originations.

ABN Amro and allies invest €14m in CrossLend from Fintech Futures – German loan marketplace, CrossLend has raised €14 million in equity from a variety of major European players.

OakNorth valuation tops $2bn after latest fundraise from AltFi News – UK challenger bank OakNorth keeps going from strength to strength, securing another $100 million in venture funding at a $2.3 billion valuation.

CAN Capital to Grow Team and Business with New Facility from deBanked – Small business lender CAN Capital continues their resurgence with another round of funding from Varadero Capital.

Fintech enters the dictionary from Finextra – After using the term for years it is good to know that “fintech” is now officially a word thanks to its inclusion in the latest Merriam-Webster dictionary.

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.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

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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