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FHFA announces Office of Financial Technology

CFPB Monitor

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space.

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Quona Capital Raises $203M For FinTech-Boosting Fund

PYMNTS

Quona Capital, a venture capital firm based in Washington and Bengaluru, has closed its second fund with $203 million in commitments, according to a report by Deal Street Asia. The fund will set its sights on FinTechs and financial organizations in Africa, Latin America, India and Southeast Asia.

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Fintechs seek US government funds to help make business loans

Bank Innovation

Financial-technology firms including PayPal Holdings Inc. are lining up to help speed lending to small businesses during the coronavirus crisis — and are pushing for a slice of emergency U.S. government funding. and to permit the firms to […].

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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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Alt-Lending Conglomerate TruFin Lands $97M In IPO

PYMNTS

An alternative lending conglomerate based in the U.K. Its units include Distribution Finance Capital, Satago and Oxygen Finance, while it also owns a minority stake in peer-to-peer (P2P) lender Zopa. Many borrowers are neglected by banks and still face expensive funding and capital. reports noted.

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OnDeck Launches ODX To Help Banks Lend To SMBs Online

PYMNTS

OnDeck Capital has created a unit that will provide technology and services for banks lending to small businesses over the internet. Reuters , citing the company, reported the new company will be called ODX and will expand its business, in which it provides lending software to banks.

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Misys Helps Banks Play The Alt-Lending Game

PYMNTS

Misys is offering banking clients access to its P2P lending software, reports said Tuesday (Jan. The financial technology firm revealed it will offer banks access to its peer-to-peer lending technology to help banks compete with younger alternative lenders in the industry.

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