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GAO: FinTech Firms, FIs Seek Alternative Data Clarity In Lending

PYMNTS

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. Such alternative data, said the GAO, could pose risk to such lending decisions. Sandboxes, Gathering Steam.

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Citi Venture Investing Head: ‘Financial Services is Becoming More Like Tech’

Bank Innovation

This is up from 35% in 2017, and way up from 18% in 2013, according to Financial Technology Partners’ 2018 Annual Fintech Almanac. Strategic participation in fintech climbed in 2018, with 41% of all fintech financings containing either a corporate VC or strategic investor.

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10 Top Banking Podcasts You Should be Listening to

Abrigo

Other podcasts might be internationally based and of little interest to community financial institutions or credit unions based in the U.S. or largely focused on the domestic banking market. If you have an interesting podcast to share, please send it to marketing@abrigo.com. Check them all out in our Knowledge Center.

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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. lending marketplace. Attorney Alex Tse. “We The Response.

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China key to banking and payments innovation

Banking 2020

Financial services organisations in China are expected to shine a light for the rest of the world when it comes to innovation in the banking sector in the coming years, with the primary drivers being non-traditional companies that are looking to develop new payment solutions and platforms. ”

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CUneXus Raises $1 Million, Signs Partnership with Edmunds.com

Fintech Labs Insights

CUneXus , developer of sales and marketing technologies for lenders, raised $1 million in new equity funding from an unnamed strategic partner. Combined with a 2013 seed round, the company’s total funding stands at $1.7 The company is based in Santa Rosa, CA and Dave Buerger is CEO.

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2016 CNBC Disruptor 50 Features Klarna, Kabbage, Twilio, and Motif Investing

Fintech Labs Insights

And among some of the easy-to-call favorites like Uber and SpaceX to Snapchat, there are a few familiar faces – especially to fans of Finovate and financial technology. Combined, the 50 companies in this year’s roster have raised more than $40 billion in venture capital and have an implied market valuation of $242 billion.