Canadian based insurance company Manulife launched a digital bank earlier this month and at the heart of that offering is...
Brazil based Nubank is launching internationally soon as they plan to launch a credit card product in Mexico by the...
Mexico’s central bank, Banxico, is trialing Cobri Digital (CoDi) with employees of all the major banks in the country; CoDi...
In their recent annual results Funding Circle announced they will be opening up in Canada later this year; today the...
Creditas recently closed one of the largest rounds in Latin American history and has originated more than $100mn in loans since 2011; they company offers loans backed by collateral, charging 17 to 25 percent for their home equity loan and 23 to 50 percent for auto equity loans; this is unique as banks typically charge 120 percent APR on unsecured loans and 480 percent APR on revolving credit cards; having a lower cost, more secure loan has seen them keep defaults around 1 percent and grow the company workforce threefold in the past year alone. Source.
According to UK research firm Autonomous NEXT there are now 68 crypto hedge funds which is a significant jump since the start of the year; while calling themselves hedge funds many of these new entities are not structured like a typical hedge fund and they don't have institutional backing; as the interest in cryptocurrencies grows, the market will continue seeing new entrants trying to capitalize on the rising value. Source.
Deloitte is the newest name to come under cyber attack where hackers accessed data on an email platform; the accounting firm said the cyber breach had affected “only very few clients” and that “no disruption had occurred to client businesses"; they notified government authorities of the hack when it occurred and have put a team together to figure out what happened. Source.
Canadian securities regulators released what they call a staff notice on "cryptocurrency offerings"; Coindesk reports on the notice, "With the offerings that we have reviewed to date, we have in many instances found that the coins/tokens in question constitute securities for the purposes of securities laws, including because they are investment contracts."; this has now become a trend in the market as the US SEC released a report and Chinese regulators released a statement about how they view this emerging capital raising method; the statement also covers companies looking to set up funds and encourages a regulatory sandbox to be created. Source
Finn.AI provides personal banking and financial management services powered by artificial intelligence; it links with banks to offer customers advice and communicates information through a range of channels including Amazon Alexa, Facebook Messenger and WeChat; Jake Tyler provides details on the company and reports on its advantages through bank partnerships. Source
Alex Tapscott has raised $20 million for NextBlock Global, an investment firm investing in projects selling cryptographic tokens; he now has plans to list the company on the Toronto Stock Exchange; Tapscott is also the co-author of "Blockchain Revolution," which he wrote with his father, Don Tapscott, last year; with the IPO listing of NextBlock Global he hopes to further accelerate adoption of ICOs and blockchain. Source