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1246

Personal Finance App Dave Launches Mobile Banking; Raises $110 Million In Debt

via Forbes 

Dave, the mobile personal finance app that helps people avoid overdraft fees, is getting into the banking market, announcing the launch of Dave Banking.

It’s the latest challenger bank to launch in the U.S. following on the heels of Monzo of the U.K. last week.

Aimed at the younger generations, Dave Banking helps customers build their credit by automatically reporting everyday payments including rent and utility bills. The service, which costs $120 a year, is free to users who deposit their paycheck into the Dave Banking account.  The checking account also provides customers with a $100 no-interest overdraft protection, available regardless of the customer’s current credit score.

In conjunction with the launch of its bank, the Los Angeles startup that counts Mark Cuban as an investor raised $110 million in debt led by Victory Park Capital. Co-founder and chief executive Jason Wilk said the company is in talks with investors about raising more capital at a valuation of close to $1 billion.

(more…)

Banks, Deals, PFM/PFP services

June 18, 2019

766

Revolut, Chip and Marcus by GS integrate with Money Dashboard

via FinTech Futures

UK-based money management app, Money Dashboard, has released integrations with Revolut, Chip and Marcus by Goldman Sachs.

The integrations help consumers track spending and progress towards their savings goals in real time.

Money Dashboard is the first UK personal finance app to release an integration with Revolut and follows the recent integration with cryptocurrency platform, Coinbase. (more…)

Banks, Mobile-first banks, PFM/PFP services

June 1, 2019

1125

Tink, the European banking platform, partners with British incumbent NatWest

via TechCrunch

It’s easy to push a narrative of fintech upstarts versus the big incumbent banks, but the more subtle reality is that as well as competing on numerous fronts, there are partnerships being formed across the board. The latest such move sees Tink, the Sweden-based banking platform that raised €56 million in new funding in February, partner with British bank NatWest.

The agreement gives NatWest access to Tink’s Personal Finance Management (PFM) and “Data Enrichment” products, which will be integrated into NatWest’s core mobile banking app. This will allow NatWest to improve its mobile banking offering by giving NatWest customers personalised insights into their finances based on transaction history. The features built with Tink’s technology are planned to go live in Q4 2019. (more…)

Banks, Mobile-first banks, PFM/PFP services

May 8, 2019

840

NatWest trials money management app

via Finextra

UK bank NatWest is trialling a standalone personal finance app that uses AI, data analytics and Open Banking APIs to help customers better manage their money.

The app, called Mimo, will help customers budget, remind them of the financial tasks they need to do and provide proactive and personal insights into their money, looking at their bills or day-to-day spending, as well as insurance, subscriptions and utilities before offering tips on the best deals on the market.

(more…)

Banks, Mobile-first banks, Open Source/ API, PFM/PFP services

April 1, 2019

1555

NextGenVest Uses Snapchat To Send Money Tips To Millennial Students

By Mike Butcher for techCrunch.com

NextGenVest, a startup out of New York, is setting out to become a new kind of trustworthy financial entity. And to do that, it’s tackling a big problem. (more…)

Cashless, Deals, Fintech news

January 27, 2016

1808

5 Dead-Simple Ways To Manage Your Money

Fast Company: You know you should pay more attention to your finances, right? These five options do a lot of the heavy lifting, whether alerting you when you need to pay attention to something or automatically investing your spare change. (more…)

Influences FinTech, PFM/PFP services

May 1, 2015

3401

Northwestern Mutual Buys Finance Startup LEARNVEST For $250M

FAST COMPANY: Alexa Von Tobel, whose startup LearnVest was featured on our list of the world’s Most Innovative Companies, has sold her company to Northwestern Mutual for $250 million, according to Fortune. Not bad for a personal-finance startup. (more…)

Deals, Fintech news, Hotnews, PFM/PFP services

March 27, 2015