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Pagaya Secures $1 Billion for Point-of-Sale Lending via Innovative POSH Securitization
Pagaya Technologies has launched a new securitization program, the Pagaya Point of Sale Holdings Trust (POSH), aimed at enhancing its presence in the point-of-sale (POS) lending market. The initiative has secured over $1 billion in funding capacity, with the first deal, POSH 2025-1, being a $300 million AAA-rated transaction involving over 20 investors. This program will increase Pagaya’s lending capacity, focusing on short-term loans for borrowers with credit scores above 600, while maintaining high approval rates. Co-founder Sanjiv Das and CEO Gal Krubiner emphasized the significance of POSH in driving growth and solidifying Pagaya’s leadership in structured finance.
Deutsche Bank Invests £250 Million in London FinTech Abound: A Game-Changer for Financial Technology
London’s fintech scene is evolving with Abound’s recent £250 million financing from Deutsche Bank, boosting its total lending capacity to £1.6 billion. This capital will enhance Abound’s consumer lending operations and support its innovative financial solutions. Key investors include Citi, Waterfall Asset Management, and LuminArx. Abound’s proprietary cashflow underwriting platform, Render, utilizes AI and Open Banking insights to improve borrower assessments and reduce default rates. CEO Gerald Chappell noted the maturity of Open Banking in the UK and Abound’s potential for international expansion. The financing emphasizes Abound’s focus on financial inclusion and technological advancement in lending.
Essential Compliance Tips for Navigating the 2025 Form ADV Update: Your Ultimate Preparation Guide
Investment advisers are preparing to update their Form ADV before the March 31, 2025, deadline, crucial for regulatory compliance. Key steps include funding the Investment Adviser Registration Depository (IARD) account in advance, understanding fee structures ranging from $40 to $225 based on regulatory assets under management, and reviewing client relationships for state-level filing requirements. Consistency across Form ADV sections is vital, ensuring accurate disclosures and removing outdated references. Advisers must also validate data for compliance checks and report any material changes. The SEC’s focus areas for 2025 include marketing compliance, AI risks, and outsourcing risks, emphasizing the need for thorough preparation.
HUB International Launches Innovative Small Business Insurance Solution to Enhance Private Client Services
HUB International has launched HUB Private Client Small Business Solutions, designed to assist high-net-worth individuals in managing their small businesses. In collaboration with Insureon, this service offers customized insurance coverage that addresses the unique risks of entrepreneurship, ensuring both business operations and personal wealth are protected. Key features include tailored coverage, liability management, and wealth protection. Katherine Frattarola, HUB Private Client’s Executive VP, highlights the importance of understanding liabilities in business ventures, while Insureon’s Jeff Kroeger emphasizes their commitment to providing personalized coverage for small business owners. Clients benefit from expert guidance and ongoing support throughout their business journey.
Hong Kong Investment Firm Chooses MCO for Superior Compliance Management Solutions
A Hong Kong-based investment management firm has partnered with MyComplianceOffice (MCO) to enhance compliance processes in line with Securities and Futures Commission regulations. By implementing MCO’s Know Your Employee (KYE) suite, the firm will replace outdated manual workflows, improving operational efficiency and reducing compliance risks. MCO was chosen for its comprehensive compliance management tools, regional expertise, and responsive service. The collaboration, led by MCO’s APAC Sales Director and the firm’s Chief Compliance Officer, will utilize MCO’s KYE solutions, including Personal Trading Manager and OCR Trade Capture. This partnership underscores the importance of advanced compliance frameworks in the investment sector.