Starling defends its bounce-back loan record; & more!

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NEWS HIGHLIGHT

Starling defends its bounce-back loan record. Starling had up to 2.5 times higher fraud rates in its Bounce Back Loan provision than the sector average. Lenders have recorded at least £1.1bn worth of fraudulent loans from the UK government’s Bounce Back Loan scheme. Link here

FINTECH NEWS

#breakingnews

• Bolt rolls out a new omnichannel platform with Revolve. Bolt’s new technology, “Checkout Links,” allows shoppers a one-click checkout experience online or offline. The platform is being initially rolled out at Revolve. Link here.

#Insights

• India’s Fintech sector to reach US$1T. By 2030, revenues from digital lending, insurtech and wealthtech will grow more than tenfold, respectively, the report says. Link here