Consumer Compliance Outlook—Fintech, alternate data, and fair lending risks

first_img 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Consumer Compliance Outlook. The Second 2017 Issue of the Philadelphia Federal Reserve’s Consumer Compliance Outlook is now available. This issue continued to expound on the rise of financial innovation and provided an overview of key federal regulations for servicemember financial protection.My colleagues and I have previously written about the growing role of fintech and the data sharing consumer protection principles. Today’s blog post will explore potential fair lending risks with the use of big data and the rise of fintech.The article discussed how fintech has already produced real benefits to consumers, including increased speed, convenience, and new product offerings that make it easier for consumers to manage their financial lives. Fintech also offers the possibility of bringing banking and financial products to underserved communities and the underbanked. continue reading »last_img read more

Tech muscle helps bet365 break £2 billion revenue mark

first_img Submit Filing its 2016/17 corporate accounts (12-month period ending March 2017), independent online betting group bet365 has detailed that it has surpassed the £2 billion revenue mark (2015/16: £1.6 billion).The Stoke-based operator details that during 2016/17 its betting/gaming assets recorded £46 billion in player wagers.The independent firm’s improved revenue metrics would see bet365 declare full-year corporate profits of £503 million up 10% on 2015/16’s £465 million.The firm details that its strong year performance was driven by strong trading during UEFA Euro 2016 (10 June- 10 July) and the significant decline in the value of £ Sterling during the 12-month period.bet365, the biggest employer of Stoke-on-Trent (Staffordshire), continues to expand its operations, committing to opening a new £8 million ‘Etruria Valley’ Training Centre for its growing headcount.Considered one of the biggest and most profitable UK tech enterprises, in 2017 bet365 has further expanded its Manchester Spring Gardens technology hub, seeking best development and engineering talent for its corporate growth projects.The firm’s deep commitment to proprietary technology and in-house development has seen it acquire US digital infrastructure and engineering language technology Basho in August 2017.In the 2016/17 corporate filing, bet365 CEO Denise Coates commented on the firm’s year performance: “Sports and gaming activities contributed significantly to the overall growth of the Group, with revenue and operating profit also increased year-on-year.”“Financial performance in the year was augmented by what was, for the Group, a good 2016 Football European Championships. In addition, the fall in the value of sterling during the period also impacted favourably.” Playtech goes live in the US with bet365 August 7, 2020 Share Degree 53 expands technical and product development teams   July 22, 2020 Oddschecker: ‘Unusual circumstances’ fail to hinder Royal Ascot traffic July 23, 2020 StumbleUpon Share Related Articleslast_img read more