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LendingClub Settles With SEC, DOJ

PYMNTS

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. The DOJ Finding. Attorney Alex Tse. “We The Response. billion.

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Analyzing The Private Market Investment Strategies of P&C Insurers

CB Insights

These include wireless home monitoring startup Notion (XL Innovate, Liberty Mutual Strategic Ventures), on-demand homeshare insurance startup Slice Labs (XL Innovate, Munich Re/HSB Ventures), virtual auto claims operations firm Snapsheet (USAA, Liberty Mutual), and contract-related insurance startup Bunker (American Family Ventures, Hiscox).

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Analyzing The Private Market Investment Strategies of P&C Insurers

CB Insights

And most recently, Allianz made a strategic investment in US online homeowners and renters insurance carrier Lemonade , which currently operates in New York, Illinois, and California. Stated investment focus: Underserved risk markets, innovative approaches to risk underwriting, financial technology with application to risk underwriting.

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Fenergo Brings its Client Lifecycle Management Innovations to ABN AMRO

Fintech Labs Insights

ABN AMRO’s Helène Erftemeijer elaborated on the role Fenergo’s technology will play in helping the bank improve the user experience for its clients. “Fenergo is the technology platform that will underpin this initiative.”

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What Customer Intimacy Has To Do With Payments

PYMNTS

There is a famous business artifact – a triangle – that differentiates companies in three ways: product innovators that ship the latest thing, operational and efficiency companies who compete on price, and a third category of companies that are customer intimate, who really understand the customer. Previously, he worked for the U.S.

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A Look at the First Week of Nasdaq’s Fintech Index

Fintech Labs Insights

While many of you were busy catching Pikachu last week, you may have missed that Nasdaq, in collaboration with KBW, launched an index to track financial technology. Officially named KBW Nasdaq Financial Technology Index (KFTX) , the fund tracks 49 fintech companies, including 17 Finovate and FinDEVr alums. PayPal (PYPL).

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Finovate Talks Payment API Security with John Canfield, VP of Risk for WePay

Fintech Labs Insights

Founded in 2009, WePay offers online marketplaces, crowdfunding platforms, and small businesses two main products: 1) A white-labeled payments processing platform, Clear. What rarely gets mentioned in the coverage is just how complicated platform payments can be, given myriad operational, regulatory, and risk prevention requirements.