The credit giant is adding advanced analytics to further assist lenders in managing their risk profiles while adding expanded credit models for small business loans and credit-card lines.
The pandemic has helped drive a surge in Canadians using digital identity authentication platforms to get access to government programs;...
The New York City-based company raised their Series A funding from WisdomTree Investments, Inc., who sees this opportunity as a strategic investment; the deal will set up WisdomTree's asset allocation models to be made available through AdvisorEngine's open architecture platform and WisdomTree will actively introduce the new platform to its distribution network; AdvisorEngine intends to use the funds for the continued development and expansion of its wealth management platform. Source
This year has already seen some major shifts in focus for the BNPL market- should banks be concerned about the B2B focus?
In their recent annual results Funding Circle announced they will be opening up in Canada later this year; today the...
Marketplace lender, LendingHome, has reached a new milestone; firm has funded over $750 million in mortgage loans since its launch in April 2014; claims to be the largest mortgage marketplace lender; firm attributes the rapid growth to a broader range of investors, now including retail investors, and the secured status of the real estate loans; Matt Humphrey, LendingHome CEO, shares additional thoughts in the included Q&A. Source
Prosper released its October 2016 performance report with the month's estimated return of 7.12% just below the estimate of 7.17% for the third quarter; in October, vintage prepayment rates continued to trend higher; delinquencies and loss patterns since 2013 are below levels in 2012; cumulative gross charge-offs appear to be a factor trending higher; average FICO of the portfolio was 714.1 in October. Source
Leading Canadian point-of-sale (POS) platform Flexiti Financial raised an oversubscribed CAD$6.25 million (USD$5 million) convertible debt offering; they will use the capital to accelerate growth and improve technology; according to Flexiti Financial Founder and CEO Peter Kalen: "Retailers across Canada are looking for unique solutions to increase sales and maintain customer loyalty in a highly competitive and shifting market. Flexiti Financial's POS lending platform has become an important tool in their sales arsenal, and this investment will help us better serve our retail partners while managing our growth across Canada." Source
The UK Financial Conduct Authority and Ontario Securities Commission will now partner on fintech innovation; an agreement between the two agencies will help facilitate expansion for financial technology companies; both agencies will support cross-border business growth and will also share information on trends and regulatory proceedings. Source
The National Crowdfunding Association of Canada (NCFA) has published a report providing insight on the country's crowdfunding market; identifies a need for regulation that will help support the industry's growth while also setting standards for the market overall; predicts transaction value of $190 million for 2016; says the industry has grown 48% from 2013 to 2015. Source