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Demand for student loans in the US has never been as high as today, with almost 69% of new graduates finishing college with an average of $30,000 of debt. In a recent study, it was claimed that the value of outstanding student loans in the United States has more than doubled in ten years by…
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The US may be world’s largest economy and the world’s second-largest trading nation, behind China, but the amount of debt American’s owe is constantly on the rise. But why are the American’s in such vast amounts of debt? People all over the world are no strangers to taking out personal loans, getting credit cards or…
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Swedish fintech firm Tink has raised €90m as it plans further European expansion and to develop new products. The eight-year-old business – which provides the digital plumbing that powers over 2,500 banks and financial firms ranging from PayPal, Karna and NatWest – said the cash call was its largest investment to date. The funding round…
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Online mortgage broker Trussle has landed £7.5m of funding, weeks after its founder left the business five years after opening its doors. The London-based firm said it received the cash from Dutch investment fund Rabo Frontier Venture, part of cooperative lender Rabobank, based in Utrecht. The move comes after founder and chief executive Ishaan Malhi…
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The Hong Kong Institute of Bankers (HKIB) is partnering with virtual banks, according to a press release from Markets Insider. The release notes that the HKIB has accepted six virtual banks as members of their institution: Airstar Bank Limited, Fusion Bank Limited, Livi VB Limited, Ping An OneConnect Bank (Hong Kong) Limited, SC Digital Solutions…
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Mark Hipperson, the once Chief Technology Officer as well as a co-founder of Starling Bank, a mobile-only challenger bank in the United Kingdom, is utilizing his past experiences to capitalize on cryptocurrencies. According to a release from Fintech Futures, this new company will be called Ziglu, and it will ensure that users can convert their…
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Digital banks such as Revolut and Monzo may have picked up millions of customers, but few Britons use it as their main account, according to a report. Barclays is the number one bank customers choose as their primary account to have their salaries paid into and for setting up direct debits, with 15 per cent…
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In a recent interview with LearnBonds.com, a Credibly official explained that they want to sustain its 20%-30% YoY growth by improving the products and services it offers. Jeffrey Bumbales, Director, Marketing & Strategic Partnerships at Credibly, mentioned that they are also planning to enhance their systems, and risk management to preserve their long-term position as…
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Rakuten, one of the larger retail brands in Japan, is pushing cryptocurrencies in a new way, it appears. On December 24, the group revealed that it would be supporting cryptocurrency assets such as Bitcoin by allowing users to convert their Rakuten points over them. This process can be done via an in-service offering and supports…
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The US is set to lose its top spot as the world’s largest cashless region to emerging Asian markets led by China next year, due to the popularity of payments systems such as Alibaba’s Alipay and Tencent’s WeChat Pay. Payments without the use of cash in the US is estimated to grow by 4.7 per…
