The Daily Dig for Sun., July 17

Just become banks already

After looking down their noses at traditional banks, marketplace lenders are becoming more and more like them every day, Jonathan Ford writes.

Asset managers should look before they leap into alternative funds

Marketplace lending is seeing fluctuations not uncommon in new sectors. That is one reason why asset managers starving for yield should not blindly rush in, Aime Williams writes.

Nigerian banks gets help to reach nation’s unbanked

Look to Africa and India for some of the best examples of how fintech can change the lives of some of the world’s most needy people.

In the latest case, the First City Monument Bank has received a $2 million grant from a financial sector development organization to develop a digitized credit and saving solution which reaches the previously unbanked through mobile and point of sale networks.

Lawson Ovih reports.

Golden Contract Coalition aims to protect smaller banks from bad contracts

Increased leverage helps smaller banks obtain better technology contracts and that is what the Golden Contract Coalition, a consortium of community banks, credit unions, CPAs and lawyers, aims to do, Tom Groenfeldt writes.

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