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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. It also solicits feedback on how to maximize stakeholder engagement.

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Core Unicorn Deals Rattling the Future of Financial Technology

Gonzobanker

Bank executives should take these new deals’ valuations as a sign that the free market sees the future of finance as unbundled from the traditional industry structure. As new cloud-native, API-driven solutions come to market, the term “core” seems to live in the eye of the beholder. Response From The Other Two Big 3 Players.

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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. According to Office Depot senior director of contract marketing, Christine Nessen, “SMBs should strongly consider transitioning to tax software.”. 37 percent of SMEs in the U.K.

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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. The firm is the holding company for an array of FinTech companies operating in supply chain finance, invoice finance and the dynamic discounting market. just secured more than $97 million through an initial public offering. reports noted.

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Visa buys stake in Swedish financial technology company Klarna

Payments Source

is buying a stake in Swedish payments technology firm Klarna AB and forming a strategic partnership, as both companies aim to expand outside their core markets.

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It’s Dreadful Being a Buyer of Bank Technology

Gonzobanker

As technology buyers, banking executives need to up their game on tech purchases and technology performance management. For regional and community banks there has never been a more frustrating time to be a buyer versus a builder of financial technology. Tech companies trying to support a bank stack have no easy task.