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Online Lender SoFi Sees $12M Loss In Q3

PYMNTS

Online lender Social Finance (SoFi) continues to struggle, recording an adjusted loss of around $12 million during the third quarter before interest, taxes, depreciation and amortization. The FinTech company has now recorded losses for the second consecutive quarter. In August, it posted a second quarter loss of about $200 million.

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Press Release: BankBazaar Marks Third Year of Growth; Hits Rs. 215 Crore Revenue

BankBazaar

BankBazaar.com, India’s leading fintech co-branded Credit Card platform and online platform for free Credit Score, marks its third consecutive year of fast and sustainable growth, with an unaudited operating revenue of Rs.215 The collaboration between FinTechs and banks is pivotal in shaping the future of financial services.

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CBA urges CFPB to adopt larger participant rule for fintech consumer lenders

CFPB Monitor

The Consumer Bankers Association has sent a letter to Rohit Chopra, the incoming CFPB Director, in which it urges the CFPB to adopt a larger participant rule for fintech consumer lenders. CBA contends that non-supervised fintech lenders pose a “threat to consumers.”.

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Singapore FinTech Festival 2017: Another Year of Celebrating FinTech

Let's Talk Payments

Singapore’s FinTech is on the way to global leadership Singapore is one of the gems of the global financial services industry ecosystem with ~200 banks with total assets of $2.

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Paytm Money Taps Veteran FinTech Exec As New CEO

PYMNTS

Paytm Money, which bills itself as India’s largest online investment and wealth management platform, announced Wednesday (July 29) it has appointed Varun Sridhar as its new chief executive. In his last post, Sridhar launched realme PaySa, a FinTech platform on mobile, as CEO of FinShell India.

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Who needs millennials?

Chris Skinner

What strikes me most is that millennials tend to be the ones creating and leading many of the FinTech start-ups like the Collinson brothers at Stripe (28 and 26 years old), Ollie Purdue of Loot (23 years old) or Edward Maslaveckas, CEO and co-founder of Bud (26 years old). This is part of the reason I challenge bank leadership teams.

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Yolande Piazza Officially Head of Citi Fintech

Bank Innovation

Citi Group named long-time executive Yolande Piazza the head of Citi Fintech today. Piazza, a 30-year financial technology veteran, who has been serving Citi in a variety of roles since 1988, will lead the group’s efforts in mobile, payments, and general fintech innovation.

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