Latest Commentary

SEC's reporting modernization spreads systemic risk reporting to thousands more funds

It might seem that the investment management industry is an old hand at managing systemic risk regulation. The Securities and Exchange Commission's sweeping Investment Company Reporting Modernization Rules, however, will extend risk reporting regulations faced by parts of the fund industry to a much wider swath of the market.

As marketplace lending seeks more respect, LendingClub stumbles

One month ago, LendingClub, Prosper and Funding Circle joined forces to create the Marketplace Lending Association, a trade association aimed at promoting responsible business practices. On Monday, LendingClub announced that Renaud Laplanche, its CEO and founder – and the most visible face of the marketplace lending industry – was fired due to questionable lending practices.

Gartner predicts startups will gain growing share of bank-vendor relationships from incumbents

By the end of 2019, 25 percent of retail banks will replace legacy online and mobile banking systems with technology from startup providers, according to a recent Gartner report. The report predicts that incumbent application vendors' slow response to the pressures banks face to deliver next-generation digital services while controlling costs will cause banks to shift to younger fintech providers.

SWIFT hack reveals sophistication of attackers

SWIFT, the global cooperative billed as the world's leading provider of secure financial messaging services, revealed Monday that thieves who stole $81 million from the Bangladesh central bank in February probably hacked into the SWIFT financial platform.

Banks increasingly see fintechs as collaborators as well as competitors, study shows

Bank executives have a new vision of the future, and fintech firms are in it, according to a recent study. The 2016 World Retail Banking Report, an annual study from Capgemini and Paris-based banking industry association Efma, found that the attitudes of bank executives toward fintech firms has shifted in the past 12 months. 

Funding Circle, Lending Club and Prosper band together to set marketplace lending standards

The move by three of the largest marketplace lenders comes as regulators have begun to weigh whether fintech companies that compete to offer financial services should be regulated.

Citi fintech disruption study predicts 17% of consumer banking revenue to go digital by 2023

Despite the rapid proliferation of fintech providers, only 1.1 percent of consumer banking revenue has been lost to digital disruption, according to a new research report from Citi's Global Perpectives & Solutions (GPS) group. That's the good news. By 2023, the migration to digital as a result of disruptive technologies is expected to rise to 17 percent of total market value, the report projects.

Regulators weigh how to define responsible fintech innovation

The Office of the Comptroller of the Currency will reportedly release a white paper on Thursday to begin exploring whether non-bank fintech companies should adhere to guidelines related to financial innovation.

SEC delays decision date for IEX exchange application, opening door to more comments

The commission stated that the amendments the marketplace made to its exchange application in late February represented "a material departure from the original design that IEX proposed in its original Form 1," therefore warranting further review and comment.

Equity crowdfunding makes its debut

Elio Motors Inc.'s stock price closed at $38.05 on the OTC QX exchange on Monday. For investors in the company's recent mini-initial public offering, that closing price represents a significant profit from the $12 a share at which it was initially sold to investors.