Top 10 Fintech News Stories for the Week Ending October 3, 2020

Here are what I consider to be the top 10 most important fintech news stories of the past week.

How Fintech Can Help The Financial Health Crisis from Forbes – Ron Shevlin shares some of the latest research from Cornerstone Advisors that shows the financial situation of 44% of Americans is either “dire” or “struggling”, up from 38% in January. What we need is more than a credit score, we need a financial health score and fintech can help.

LendIt Fintech Announces 2020 Award Winners (press release) – The winners for the LendIt Fintech Industry Awards were announced this week. Congratulations to all the winners.

French lender October raises €258m to bolster European SMEs from AltFi – European SME lender October has raised €258m to help SMEs in France, Germany, Italy, the Netherlands and Spain with €200m set aside for a special program with Italian bank Intesa Sanpaolo Group.

OCC’s Brian Brooks talks enabling innovation to expand financial access from FinLedger – Coverage of Brian Brooks, the acting head of the OCC, speaking in a keynote session at LendIt Fintech USA 2020 this past week.

Goldman shakes up units in fresh push to win over investors from American Banker – Goldman Sachs announced this week that they have created a new consumer and wealth management division co-led by Stephanie Cohen (also a LendIt Fintech keynote speaker this week) and Tucker York.

Lendit Fintech USA 2020 Day 1 – Creativity, Connectivity and Community from Crowdfund Insider – Timothy Li provides an update on day one of LendIt Fintech USA 2020 sharing his thoughts all components of the biggest fintech event of the year.

What’s next for Goldman Sachs’s Marcus from American Banker – Penny Crosman talks with Harit Talwar, the head of Marcus, who will become Chairman on January 1 amid the leadership shakeups at Goldman Sachs.

Plaid CEO: Fintech is the ‘new normal’ from FinLedger – More coverage from LendIt Fintech USA as Plaid CEO Zach Perret talked about the increased use of financial apps during the pandemic.

Over $3.5 Billion Deposited in DeFi Protocol Aave, $1 Billion Borrowed via Platform as of September 2020 from Crowdfund Insider – Aave has become one of the leaders in DeFi with more than $1 billion in loans facilitated this year.

Fintechs Should Sell Financial Health, Not Financial Services from Forbes – Dave Birch argues for a shift in thinking for what financial services is doing today. Banks and fintechs should be focused on delivering financial health rather than just financial services.

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FinTech Fashion Police
FinTech Fashion Police
Oct. 5, 2020 1:28 pm

Ah, “financial health scores” to solve our “financial health crisis.” Thanks, witting and unwitting Comrades. (Sounds like a fine idea; hope the regulators see you for the privacy-invading totalitarians you wish to be.)