Non-bank competitors

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Cleveland Fed report comparing P2P lending to subprime mortgages removed for revision

/Non-bank competitors

Cleveland Fed report comparing P2P lending to subprime mortgages removed for revision

A Federal Reserve Bank of Cleveland report which compared the peer-to-peer lending industry to the subprime mortgage market has been temporarily taken offline after questions were raised about the underlying data set.

/Non-bank competitors

F10 Fintech adds Zürcher Kantonalbank to its incubator

F10, Switzerland’s leading FinTech startup accelerator and incubator, today announced the news that Zürcher Kantonalbank, Switzerland’s largest cantonal bank has joined as a corporate member, effective as of December 1st, 2017.

Amazon Cash comes to Canada

/Non-bank competitors

Amazon Cash comes to Canada

Canadians can now top up their Amazon accounts by handing over cash or debit cards at their local post offices.

Fed researchers compare P2P lending to subprime mortgages

/Non-bank competitors

Fed researchers compare P2P lending to subprime mortgages

The peer-to-peer lending industry has the potential to destabilise consumer balance sheets, with loan performances bearing a striking resemblance to the subprime mortgage market before the 2007 crisis, warns a new paper from the Cleveland Federal Reserve.

Bank of Amazon? US regulator calls for rethink on separation of banking and commerce

/Non-bank competitors

Bank of Amazon? US regulator calls for rethink on separation of banking and commerce

A senior US regulator has floated the possibility of ending the long-standing separation of banking and commerce, paving the way for the likes of Amazon, Facebook and Walmart to take on Bank of America, Wells Fargo, Citi et al.

Facebook Messenger P2P payments arrive in the UK

/Non-bank competitors

Facebook Messenger P2P payments arrive in the UK

British Facebook users can now send money to each other through the social network giant's Messenger app.

Payments transformation: banks reveal why it is worth it– new Finextra report

/Non-bank competitors

Payments transformation: banks reveal why it is worth it– new Finextra report

Payments transformation is central to banks’ view of how their business will develop. And answers are being formulated as to how real time can generate new revenue streams, as revealed in a new survey by Finextra, in association with Dovetail, now part of Fiserv.

Britain’s small businesses bank on alternative finance options

/Non-bank competitors

Britain’s small businesses bank on alternative finance options

With more than half of small business owners in the UK concerned about their ability to get bank loans, many are turning to alternatives such as crowdfunding and P2P lending, according to a WorldPay survey.

TransferWise to sell new shares to cement unicorn status

/Non-bank competitors

TransferWise to sell new shares to cement unicorn status

The two founders of start-up foreign exchange service TransferWise are reported to be preparing a sale of some of their shares in a further round of fundraising that could see the company's valuation exceed £1.2 billion, consolidating its unicorn status.

Digital, connected, client-centric: a new model for corporate banking – new Finextra report

/Non-bank competitors

Digital, connected, client-centric: a new model for corporate banking – new Finextra report

Corporates have made massive leaps in digitally transforming their services and it is ringing change within the corporate banking ecosystem. A new research paper from Finextra, produced in association with Oracle, explores the need for a new ecosystem.

/Non-bank competitors

CommonBond closes $248m securitisation

CommonBond, a leading financial technology company that helps students and graduates pay for higher education, today announces the close of a $248 million securitization of refinanced student loans.

Forget fintechs, banks need to worry about Alibaba and Amazon

/Non-bank competitors

Forget fintechs, banks need to worry about Alibaba and Amazon

Banks may have seen off the challenge from fintech startups but they now face the far bigger threat of platform giants such as Amazon and Alibaba eating into their margins, warns a new report from consultancy McKinsey.

Uber launches credit card

/Non-bank competitors

Uber launches credit card

Ride-hailing app Uber is pushing further into the financial services sphere, teaming up with Barclaycard US to launch a rewards-heavy Visa credit card.

/Non-bank competitors

Affirm launches lending app

Affirm, Inc., the company started by serial entrepreneur Max Levchin to provide fair and honest financial services, today announced the public release of its new mobile application designed to reinvent personal credit.

/Non-bank competitors

More Americans using non-FI providers for banking

The latest Expectations & Experiences consumer trends survey from Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, finds a substantial number of consumers are comfortable using nonfinancial providers for essential activities such as paying bills, transferring money to others, and taking out loans.

/Non-bank competitors

MarketInvoice inks deal with Germany's Varengold Bank

Business finance company MarketInvoice has signed an agreement with Varengold Bank AG to provide £45m funding annually on its invoice finance platform. This will fund working capital solutions for businesses across the UK.

Square applies for bank status

/Non-bank competitors

Square applies for bank status

Square, the fintech startup headed by Twitter founder Jack Dorsey, has made an official application in the US for a banking license, ending months of speculation about its plans but also reigniting the argument about the use of industrial loans charters (ILCs).

/Non-bank competitors

P2P lender Fellow Finance launches in Germany

A peer-to-peer lending platform Fellow Finance is now open for borrowers in Germany. Wirecard Bank supports the Finnish FinTech company Fellow Finance to enter and provide a digital infrastructure for the German financial market.

New EC rules could enable banks to increase their software spending

/Non-bank competitors

New EC rules could enable banks to increase their software spending

European banks under siege from digital challengers and sophisticated cyber attackers could face some relief from a possible change in accounting rules that will enable them to spend more on new software.

China's fintechs look at overseas IPOs to raise funds

/Non-bank competitors

China's fintechs look at overseas IPOs to raise funds

The tightened regulatory environment in China is leading number of its largest fintech startups to consider launching initial public offerings (IPOs) overseas in order to raise funds.

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