Bunq secures US broker dealer licence
European challenger bank bunq has been approved by US regulator FINRA to act as a broker dealer in the US market.
Credit unions gain share in new-vehicle financing as captives’ share dips
Credit unions saw the highest market share gain for new-vehicle loan originations in the third quarter as interest rate cuts…
Cambodia establishes fintech association
Cambodia has become the latest country to launch a national body designed to foster more fintech collaboration with the launch of the Cambodia Fintech Association (CFA).
Regulator warns Australian banks on technology risks
Australian banks and their internal audit teams need to pay more attention to the risks posed by legacy technology and an over reliance on a select number of cloud providers, according to the industry’s watchdog.
Westlake Portfolio Management takes over servicing for Mechanics Bank Auto Finance
Westlake Portfolio Management (WPM) is back in the business of absorbing outstanding portfolios. The subsidiary loan servicing company of Westlake Technology Holdings has entered into a servicing agreement with Mechanics Bank Auto Finance (MBAF) to oversee and manage its portfolio … [Read More]
SEC denies Coinbase petition for crypto rules
The Securities and Exchange Commission has denied a petition from crypto exchange Coinbase asking the regulator to put in place new rules specifically for the digital asset sector.
Blackstone to build £10bn AI data centre in UK
Private equity giant Blackstone has confirmed a £10 billion investment in an AI data centre in the North East of England, creating around 4000 jobs.
SDG corporate debit card launched by quartet of payments players
RailsBank, Toqio, and Mastercard have partnered with fintech platform HealRWorld, to deliver a corporate debit card that rewards sustainable businesses and promotes their commitment to the UN’s Sustainable Development Goals (SDGs).
Toyota to scale back on incentives
Toyota Motor North America plans to reduce incentives and increase production to improve profitability in 2025. “We aim to maintain…
Latest views from S&P Global Ratings on auto ABS & banking sector
Along with taking a deep look at the banking sector, S&P Global Ratings also published its latest views on U.S. auto loan asset-backed securities (ABS). Analysts arrived at four assertions when looking at ABS performance for June. They included: —Performance … [Read More]
Subprime space at center of latest credit availability trends
Jonathan Gregory explained why the latest reading of the Dealertrack Credit Availability Index had a notable connection to the subprime space — beyond the fact that the February figure signified the highest level of auto credit access since December 2022. … [Read More]
Auto delinquencies at highest Q1 level in 16 years
Auto delinquencies are up as cash-strapped consumers grapple with rising costs and affordability. The overall first-quarter, 60-plus day delinquency rate…
Oxbury raises £20m for AgTech core platform
Agricultural challenger bank Oxbury has raised £20 million to continue the development of its proprietary AgTech core platform.
Binance founder Changpeng Zhao gets four month prison term
The founder of crypto exchange Binance, Changpeng “CZ” Zhao, has been sentenced to four months in prison in the US after pleading guilty to violating anti-money laundering requirements.
Research highlights the work that robo-advisers still have to do
Research by wealthtech provider, Nucoro, shows that only 8% of people believe a robo-adviser would provide the best returns on their money.