PrimaLend’s bankruptcy renews focus on subprime consumer strain
PrimaLend Capital Partners filed for bankruptcy after months of negotiations with creditors following missed interest payments on its debt, the…
Honda-Nissan deal is credit positive, Honda faces risks: Moody’s
The proposed business integration of Honda Motor Co. and Nissan Motor Co. is positive overall for the credit quality of…
Citi invests in low code platform Genesis
Citi has invested in low code platform Genesis Global Technology in an effort to drive business workflow efficiencies across multiple business lines.
FCA taps OneMarketData for market surveillance
The UK’s Financial Conduct Authority (FCA) has picked OneMarketData for the provision of a new cloud-based market surveillance and visualisation system.
Natural language processing is the next step to automation
78% of institutional investors agree that technology has made financial markets ‘better and more efficient.’ This figure is staggering when compared to the 20% of participants who feel that technology has ‘made financial markets overly complicated.’ But where does the cloud fit in?
SAFCO adds Colombian finance company as strategic partner
Southern Auto Finance Co. (SAFCO) is adding some international support to its operation that focuses on the subprime auto finance market. Last week, SAFCO announced that Colombia-based Finanzauto has acquired a minority equity stake in the company. SAFCO said this … [Read More]
Flagship Credit sold to investment firm InterVest
Auto lender Flagship Credit Acceptance today announced an agreement to sell the business to specialty finance investment firm InterVest Capital Partners and will be…
DBS rolls out AI-powered investment advisory feature
Singapore’s DBS has added a feature to its AI-powered financial and retirement planning tool that provides retail customers with investment recommendations tailored to their profiles.
Fintech sector braced for fresh wave of disruption as AI changes the game
As artificial intelligence reshapes the business landscape, fintechs stand poised to usher in a fresh wave of disruption as the industry emerges from a prolonged slump.
Anthropic beefs up Claude for Financial Services
Anthropic, the AI startup backed by Amazon and Google, has expanded Claude for Financial Services with an Excel ad-in and more connectors to real-time market data and portfolio analytics, including from LSEG.
Credit Unions: High LTVs a challenge for refinancing external auto loans
Higher loan-to-value ratios are exceeding thresholds for some credit unions, making it challenging to refinance auto loans from other lenders. …
AI-powered payment disputes platform Casap raises $25m
Casap, a firm using AI to automate payment disputes and tackle first party fraud, has raised $25 million in a Series A funding round led by Emergence Capital.
Global fintech investment falls to seven-year low
KPMG’s bi-annual Pulse of Fintech report paints a sorry picture for the global fintech sector in H2’24 as both fintech investment and the number of deals fell to levels not seen since 2017.
Deutsche Börse to embed SocGen-issued stablecoins
German exchange Deutsche Börse is to embed EUR and USD CoinVertible stablecoins from Societe Generale’s digital asset unit SG-Forge into its infrastructure.
Cardless raises $60m
Embedded credit card platform Cardless has raised $60 million in a Series C growth round led by Spark Capital.