UK pension funds to back fintech startups
A consortium of 20 UK-based pension funds, asset managers and asset owners is set to invest in the country’s fintech sector.
Ally tops J.D. Power’s dealer financing rankings in subprime for fourth straight year
Ally Financial, Chase Automotive Finance and Capital One Auto Finance finished in the top three and above the average segment score among non-captive subprime auto finance companies ranked in the J.D. Power 2024 U.S. Dealer Financing Satisfaction Study released on … [Read More]
BRP North American retail sales dip 11% year over year
Canadian powersports manufacturer Bombardier Recreational Products’ North American retail sales declined year over year in the third quarter of fiscal…
Synchrony’s Medrano: High inventory pressures back-end operations
The combination of high interest rates and elevated inventory levels has applied pressure to the back end of the powersports…
Embedded investment API Upvest raises €100 million
Investment API Upvest is set to double its 170-strong team after closing on a €100 million Series C funding round.
What another 25 basis points could do to already rising auto finance rates
Cox Automotive and Edmunds experts explained the potential intensifying challenge for dealerships and finance companies to get consumers the credit they might need to take vehicle delivery amid the rising interest rate environment.
A situation that even the Federal Reserve acknowledged to become even more complicated when policymakers unanimously chose to raise the target range for the federal funds rate to 4.75% to 5%.
“Since our previous meeting, economic indicators have generally come in stronger than expected, demonstrating greater momentum in economic activity and inflation,” chair Jerome Powell said after the Fed announced its latest rate increase on Wednesday. “We believe, however, that … [Read More]
Better.com goes public
After a tumultuous two years that saw its CEO hit the headlines for laying off staff via Zoom, digital mortgage outfit Better.com is set to go public via a Spac merger.
UK financial regulators to be given powers over Big Tech cloud providers
The UK’s financial regulators are to be given powers to test the resilience of big cloud providers like IBM, Google, Microsoft and Amazon and perform on-site inspections.
CPS sees PayNearMe payment technology ‘like gold’
This week, Consumer Portfolio Services announced that it named PayNearMe as its primary payments partner, saying the service provider’s technology “is like gold.” According to a news release, this partnership will accelerate the finance company’s digital transformation and deliver a … [Read More]
Thailand targets tourists with crypto-to-baht scheme
Thailand is piloting a programme that allows visitors to the country to convert cryptocurrencies into baht for local payments.
55% of UK investors are unwilling to use AI tools for investment support – Avaloq
Research from Avaloq, a banking and wealth management platform, indicates that UK wealth managers see AI as the future, but do not yet trust the technology.
ECB preps DLT trials for wholesale central bank money settlement
The European Central Bank has put together a host of participants for exploratory work on the use of distributed ledger technology to settle wholesale transactions in central bank money.
Huntington Bank auto originations up 83%
Regional bank’s’ fourth-quarter earnings primarily showcased growth in auto finance, mirroring similar results reported by national banks this week. Bank…
MSCI expands Google partnership to explore AI services
Benchmark provider MSCI has extended its partnership with Google Cloud in order to accelerate its development of generative AI services for the investment industry.
CES 2021: Stripe and Plaid reveal Covid-19 ‘pressed fast forward’ on digital payments acceptance
As Andrew B. Morris from The Fintech Agenda, LLC highlights at CES 2021, the dark clouds of Covid-19 had a silver lining for the fintech industry. Unicorns Stripe and Plaid supported the global shift to a contactless economy, helping businesses deliver products and services to consumers who had collectively formed new daily habits for everything. Ginger Baker and Erika Wool explain what’s next for the payments giants.