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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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Core Unicorn Deals Rattling the Future of Financial Technology

Gonzobanker

The unicorns of core banking systems have been running wild the past few weeks, and these frothy deals signal a future shift in how executives should view the world of financial technology. The post Core Unicorn Deals Rattling the Future of Financial Technology appeared first on Gonzobanker.

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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.

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The Financial Technologies SMEs Aren’t Using

PYMNTS

The average small business considers itself a “moderate” user of technology, according to the PYMNTS.com SMB Technology Adoption Index. Only 13 percent say they’re willing to jump on the innovation bandwagon. 70 percent of SMEs didn’t use tax software in 2016 , found Office Depot in its most recent Small Business Index survey.

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D+H, RBC Launch Lending Simulation for Better Performance

Bank Innovation

Financial technology solutions provider D+H has launched Barometer today, a software-as-a-service assessment and training solution for lenders, in partnership with the Royal Bank of Canada, which is one of the largest financial institutions in the country. Barometer is a lending simulation, the first of its Read More.

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Currency Comptroller: New Plan Regulating Marketplace Lending

PYMNTS

Pivoting from concerns and risks around financial technology innovation in the banking system, the U.S. Comptroller of the Currency said the agency will roll out a new framework for regulating marketplace lending.

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