Upstart, a US online lender founded by a gaggle of former Googlers, has raised $32.5 million in a funding round led by Japan's Rakuten and an unnamed asset manager.
A Federal Reserve governor has cautioned fintech firms about the risks of using non-traditional data such as social media information to judge creditworthiness, warning that it could lead to them falling foul of fair lending laws.
Chinese web giant Baidu has made an investment in ZestFinance, a US fintech startup using machine learning to overhaul the credit scoring business. The size of the deal has not been disclosed.
National Australia Bank has been accused of 'spying' on business customers who apply to rival banks for new financing.
British startup Ormsby Street has launched its small business credit-checking tool in Germany through a partnership with Deutsche Bank.
Capital Float, India's largest online lending platform, has raised $25 million in a Series B funding round led by Creation Investments Capital Management.
Japanese financial conglomerate SBI Holdings has set its stall out as a central player in the fintech ecosystem, promising to aggressively adopt new technology and build a network of startups through a $275 million venture fund.