News 

FinTegration: Citi and Qantas brought the future of banking to SXSW

“We caught up with Citi and Qantas at their SXSW panel to learn more about how open APIs and global collaboration are fueling the future of FinTech” writes Mashable Brand X for mashable.com. A large financial institution and a national airline are not the usual suspects on the forefront of tech innovation, but that makes their global collaboration even more impressive. Source: mashable.com Share This:

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Markets News 

How fintech lenders give mortgage borrowers an edge

“Fintech lenders are far from the only ones who are investing in online platforms and working to digitize the mortgage process” writes Jacob Passy for marketwatch.com. This is especially true for minority mortgage applicants.And for buyers who will rely on a mortgage to finance a home purchase, an online lender could provide them with that advantage.The researchers attributed this in large part to the underwriting standards imposed by Freddie Mac FMCC, -2.07%   and Fannie Mae FNMA, -1.63%   that guide the algorithms used to automate the mortgage process.In short,…

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Alt Lending, Artificial Intelligence Startups Lead Investment Activity

“British Business Investments, Paragon Bank, BCI Finance and Blenheim Chalcot facilitated an $81.8 million investment in U.K. alternative finance player Liberis” reports pymnts.com. Supply chain finance company Invoice Bazaar made an undisclosed investment in ODeX, an online logistics and shipping company facilitating digital document exchange.The company landed the funds from Poseidon Asset Management, Phyto Partners, Altitude Investment Partners, Arcview Investor Network and Arcadian Fund, according to Green Market Report.Based in Ireland, Supply Finance landed $4.9 million in Series A funding, reports in Independent.ie said this week.Blockchain heavyweight Ripple made headlines…

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Malaysia Could Become World Leader in Islamic…

“The signing of a Memorandum of Understanding (MoU) by MIMOS and the International Center for Education In Islamic Finance (INCEIF) to develop a blueprint for an Islamic finance-based investment technology is likely to lay the foundation for the development of Islamic fintech in Malaysia” writes Rebecca Campbell for livebitcoinnews.com. The research agency explained that Malaysia’s Islamic banking industry was worth $202 billion last year, whereas its Islamic loans more than doubled to 30.2 percent in the same time frame.Due to its increased infrastructure, a tech-savvy population, in addition to high…

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News Stocks 

Steve Cohen’s VC firm led a $21 million investment in a startup that wants to power free stock trading

“In September, Point72 Ventures led a $4.1 million seed investment in AlphaFlow, a technology firm in real estate, Bloomberg News reported” writes Frank Chaparro for businessinsider.com. It has also invested in Acorns, the fintech app that lets users invest their spare change, and Quantopian, a crowdfunded hedge fund.DriveWealth, a company building technology to bring the cost of investing to zero, has landed $21 million in an investment round led by four investors including the venture unit of Steve Cohen’s Point72.DriveWeath’s technology, which provides its clients access to stock markets, works…

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Crypto News 

Spring Labs raises $14.75 million for blockchain-based fintech identity business

“Spring Labs has raised $14.75 million to create a blockchain-based network to solve identity and credit data problems for financial institutions and consumers” writes Dean Takahashi for venturebeat.com. Spring Labs is creating the Spring Network, which uses the blockchain for data exchange.The Spring Network is designed to allow lenders, banks, and data providers to easily and cheaply exchange data with one another.It is transparent and secure, which is why Spring Labs is using it for financial transactions. Source: venturebeat.com Share This:

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Markets News 

Here are the pros and cons of Arizona’s fintech sandbox

“While this move demonstrates welcome initiative, there are both pros and cons attached to it: This sandbox could mark the start of a broader change in the US fintech regulation landscape” writes Maria Terekhova for businessinsider.com. Last week, the Attorney General’s office of Arizona enacted a new law that will see the state establish a fintech sandbox, making it the first US state to do so.We have already seen federal regulators fiercely defend their remits and prerogatives to oversee fintech, and they would probably be unwilling to be usurped by…

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Markets News 

UK digital bank that beat peers to an annual profit ‘will go into’ China — eventually

“Nevertheless, foreign lenders looking to access the Chinese market could get a boost from the country’s new central bank chief” writes Ryan Browne for cnbc.com. However, there was a slight decline in venture capital flows into Chinese fintech start-ups last year.China is home to some of the most valuable fintech companies in the world, including established giants like Alibaba-owned Ant Financial, ZhongAn, Qudian and Lufax.OakNorth, a start-up bank based in London, recorded a pre-tax profit of £10.6 million ($15 million) in 2017 and is considered to be the first U.K.…

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AUD News 

UK, Australia Sign Stronger FinTech Innovation Pact

“The U.K. and Australia are strengthening an existing collaborative agreement to promote FinTech innovation, according to reports in Mondo Visione” reports pymnts.com. The U.K. Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) announced their Enhanced Cooperation Agreement between their Innovation Hubs, broadening their existing agreement to collaborate and cooperate on FinTech innovation.The expanded agreement is part of what’s called the FinTech Bridge, signed by the U.K. Chancellor of the Exchequer and the Australian Treasurer.Back in 2016, when we signed the original agreement with ASIC, we stated…

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Robot regulators: What could possibly go wrong?

“The message is: let fintech firms innovate — but in a regulated way” writes Lionel Laurent for bloomberg.com. We should take care not to stretch that ratio if fintech firms hope to one day guard the savings of widows and orphans.But regulators should remember to keep people in the right places, even if they can’t be everywhere.Machines are already helping regulators comb through regulatory filings to analyze reporting behaviors and tonality of language.The financial industry has had its share of flash crashes, fat-finger trading errors and computer bugs; it’s hard…

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