Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Mexican lending platform Konfio raises $8m

Konfio, an online Mexican lending platform, announced a new round of investment for $8 million from the Accion Frontier Inclusion Fund managed by Quona Capital, QED Investors, Kaszek Ventures, and Jaguar Ventures that will allow the lender to strengthen its operations, grow its user base, and adopt corporate best practices.

24 May 2016

News/Non-bank competitors

NYDFS subpoenas Lending Club over interest rates and fees - WSJ

Lending Club's woes continue, with New York state's financial services regulator joining the Justice Department in investigating the online loan marketplace, according to the Wall Street Journal.

19 May 2016

Company update/Non-bank competitors

Wealthsimple launches portfolio review service for investors

Wealthsimple, Canada's leading online investment manager, has launched a free second opinion product for investors called Portfolio Review.

17 May 2016

News/Non-bank competitors

Lending Club faces Justice Department probe

After its CEO was forced out over a loans sale scandal, Lending Club says that it is being investigated by the US Justice Department and admitted that investors are pulling back from debt purchases.

17 May 2016

News/Non-bank competitors

Indian online lender Capital Float raises $25m

Capital Float, India's largest online lending platform, has raised $25 million in a Series B funding round led by Creation Investments Capital Management.

12 May 2016

Company update/Non-bank competitors

Green Dot moves into online marketplace lending

Green Dot Corporation (GDOT) today announced the launch of Green Dot Money, an online marketplace that seeks to match low and moderate income consumers with a curated set of lending partners that specialize in serving low and moderate income Americans.

12 May 2016

News/Non-bank competitors

US Treasury calls for online lending oversight

In a week in which the sector has been rocked by the Lending Club scandal, online marketplaces have been warned in a new report from the US Treasury that they need to be more transparent and should, in some cases, face greater regulatory oversight.

11 May 2016

News/Non-bank competitors

Prosper slashes workforce as online lenders feel the heat

Jobs, earnings and funding news out of three of America's biggest alternative lending platforms - Prosper, OnDeck and SoFi - is raising concerns about the market and investors' willingness to fund loans.

04 May 2016

Company update/Non-bank competitors

NerdWallet introduces retirement saving tools

Today, NerdWallet launched two new tools to help Americans manage and maximize their retirement savings.

26 April 2016

Company update/Non-bank competitors

Mexican online lender Kueski scores funding

Kueski, the leading online lending company in Mexico offering real-time, micro loans to Mexican consumers, announced today the close of a US$35 million round of equity and debt funding, with the potential to increase to US$100 million in total funding, the largest capital funding in Mexico for a fintech startup.

21 April 2016

Company update/Non-bank competitors

UK online pension manager PensionBee launches

PensionBee, an innovative young company, has unveiled a service that helps customers to find their old pensions and combine them into a single, online plan.

20 April 2016

News/Non-bank competitors

Fintech dominates African startup investment

Almost a third of the money invested in African startups was gobbled up by new fintech firms, according to research from Disrupt Africa

01 April 2016

News/Non-bank competitors

Singapore sets up fintech office for startups

The Singapore government is launching a dedicated office designed to help fintech startups set up in the country.

01 April 2016

News/Non-bank competitors

FCA reveals P2P lending platform application backlog

The UK's peer-to-peer lending goldrush is causing a headache for the Financial Conduct Authority, which has put out a statement revealing it has a backlog of 86 firms awaiting authorisation to operate.

31 March 2016

Company update/Non-bank competitors

Lending Club joins Millennium Alternative Investment Network

Millennium Trust Company, a leading provider of technology-enabled asset custody solutions for institutions, advisors, and individuals, and Lending Club (LC), the world's largest online lending marketplace, today announced that Lending Club is the latest investment platform to join the Millennium Alternative Investment Network (MAIN).

31 March 2016

News/Non-bank competitors

Putin adviser calls bitcoin a virus

Russian authorities' opposition to virtual currencies has been underlined after a presidential adviser referred to bitcoin as an internet joke and a virus and urged that it be outlawed.

31 March 2016

News/Non-bank competitors

Fintech boom will lead to 30% bank staff cuts - Citi

US bank Citi has forecast that the continued growth of fintech startups will mean 30% of bank staff will lose their jobs over the next ten years.

31 March 2016

News/Non-bank competitors

Ireland's fintech hopes held back by lack of investment

Ireland's ambition to be known as a world-leading hub for fintech startups is in danger of petering out due to a lack of accelerators, according to the head of an industry group looking to promote startups.

30 March 2016