AROUND THE WORLD
On Thursday the Los Angeles Times reported on a recent FinTech decision handed down by the Office of the Comptroller of the Currency. Bank charters can now be issued to online marketplace lenders in the U.S. The agency believes such a decision is in the public’s best interest. This development is expected to expand the capabilities of P2P businesses and help more borrowers.
CrowdFund Insider published an article about a strategic partnership between PeerIQ, a P2P analytics provider, and TransUnion. The alliance is designed to empower participants in marketplace lending. The robust data offering from these two companies will enable investors and borrowers to make informed decisions.
AltFi News posted an article on the connection between marketplace lenders and financial health apps. While this innovation is still in development the author cited numerous examples of existing apps designed to influence the savings behavior of users.
Banking Exchange discussed the growing number of underbanked regions in which marketplace lending can continue to grow. The author reported on the findings of The Center for Financial Services Innovation (CFSI) and Core Innovation Capital. The author writes, “Americans spend significant amounts of money on financial transactions and services. Overall revenue in this market grew 5.9% from 2014 to 2015, and is projected to reach $144 billion by yearend 2016.”
In Estonian. Business news site Äripäev published an article from Bondora CEO Pärtel Tomberg about how Sweden is currently in a peaking real estate bubble and its large impact on Estonian economy when the bubble collapses. The negative impact comes from Estonia’s dependence on credit from Swedish banks who control nearly two-thirds of Estonian credit market.
Silicon Republic listed Bondora among 25 fintech companies to watch in 2017.