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Today In Payments: Default Fears Mount As China’s Banks Encourage Loans; Goldman, Morgan Stanley Predict Economic Devastation

PYMNTS

Also, banking FinTech Finastra was hacked. Banking FinTech Finastra was hit with a security breach on Friday (March 20) and was forced to shutter key systems and send employees home. As China’s Banks Encourage Loans, Default Fears Mount. Morgan Stanley told clients to expect U.S. GDP to plummet over 30 percent between April and June.

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Fintech Fundings: 102 Companies Raise $2.0 Billion in July

Fintech Labs Insights

Fintech deals by size from 23 July to 29 July 2016: Elevate. HQ: Fort Worth, Texas. The post Fintech Fundings: 102 Companies Raise $2.0 Total dollars raised YTD is $19.3 billion, double the $9.8 billion raised during the same period a year ago. ——-. Alt-lender. Latest round: $545 million Debt. Source: Crunchbase.

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