Barclays to acquire lending startup for $800m
UK bank Barlcays is set to expand its presence in the US consumker banking market after agreeing a deaL to purchase US-based personal lending fintech BestEgg for $800m.
Future pandemic could cost global economy $13.6trn: Lloyd’s
The global economy could be exposed to potential losses of $13.6 trillion over a five-year period from the threat of a hypothetical future human pandemic, according to systemic risk scenario research from Lloyd’s.
Wells Fargo eyes responsible growth of auto amid tariffs
Wells Fargo Auto’s origination volume grew year over year in the first quarter as the bank is prioritizing responsible growth…
Lithia captive originations up 30%
Lithia Motors’ captive finance arm, Driveway Finance, originated $731 million in loans during the second quarter as finance and insurance…
Octopus Ventures to absorb Fintech Growth Fund
Octopus Ventures is reportedly preparing to take over the Fintech Growth Fund, a new funding vehicle for providing growth-stage capital to UK fintechs.
Google taps Santander tech to help firms transition to the cloud
Google Cloud has launched a service, built on top of technology developed by Banco Santander, to help companies migrate from legacy mainframe systems to the cloud.
Insurance rate outlook stable in most lines: WTW
Agents and Brokers, P/C Pricing Willis Towers Watson
Westpac launches innovation challenge
Westpac has teamed up with venture technology accelerator BlueChilli to challenge Australia’s startups to develop ways to help the bank’s business customers.
Rise in demand for cat bonds driven by climate-risk mitigation: Fitch
In an effort to effectively manage risk, re/insurers are continuing the use of capital markets to access catastrophe bonds amid a firm market, driving up the issuance of insurance-linked securities (ILS), a trend that is expected to persist, Fitch has highlighted.
Lemonade sells Metromile’s EBS platform to EIS
Digital insurance company Lemonade has announced the close of its divestiture of Metromile’s Enterprise Business Solutions (EBS) to digital insurance platform, EIS.
Lunar taps Thought Machine for core banking revamp
Nordic fintech Lunar has selected Thought Machine – the same cloud native core banking technology used by JP Morgan – to modernise its core systems and develop new services across the region.
D&O insurers “offer better coverage to businesses with robust ESG” – Marsh
Marsh has announced several enhancements to its directors and officers liability (D&O) insurance offerings that it says could enable more clients to benefit from superior environmental, social, and governance (ESG) frameworks.