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489

Online bank Simple makes things harder by removing bill pay

via TechCrunch

With a growing number of challenger banks taking on the U.S. market, one of the original startup banks, Simple — now owned by BBVA — has taken the unusual step of removing a core banking feature: bill pay. The company claimed the feature was under-utilized and usage was trending downwards, which is why it decided to sunset the option to pay bills through its app. That decision, not surprisingly, has angered a number of customers who are taking to social media and online forums like Reddit, threatening to switch banks as a result.

It’s likely true that fewer people today use bill pay than in the past. (more…)

Banks, Mobile-first banks

May 24, 2019

239

Behind BBVA’s ramp of its Banking as a Service offering in the US

via Tearsheet 

Tearsheet talked with Brent Baker, the head of growth and operations at BBVA’s Open Platform, which means he’s in charge of bringing new customers and maintaining risk and control. The talk focuses primarily on his work with the firm’s banking as a service offering and how it fits into BBVA’s global strategy of being the bank of billions of people. (more…)

Open Source/ API

March 26, 2019

1397

BBVA continues its fintech acquisition run, buys Holvi, an online-only business bank

By Ingrid Lunden for techcrunch

Spanish banking giant BBVA has made another M&A play as it looks for a bigger role in the next generation of financial services: today the company has announced the acquisition ofHolvi, an online-only bank for entrepreneurs and SMBs based out of Finland. (“Holvi” means “vault” in Finnish.) (more…)

Banks, Mobile-first banks

March 13, 2016

8598

Life.SREDA VC report: Neo- and challenger banks are coming

Key findings on upcoming trends in the banking sector. 

Read our full research “Money of the Future”. Download PDF (20MB) (more…)

Analytics, Banks, Fintech news, Global trends, Hotnews, Mobile-first banks

March 3, 2016

6082

8 Reasons To Buy a FinTech Startup

Fintech startups: who buys them and why? They’re expensive, lossmaking and overvalued. Why people even pay for them?

By Igor Pesin, Partner at Life.SREDA

(more…)

Columns, Fintech news, news

November 2, 2015

2150

The Unbundling Of Finance

TECHCRUNCH: While remittances open the door for growth, that possibility pales in comparison to the larger opportunity for Facebook — offering a way for people who don’t use banks now to do e-commerce. According to McKinsey, there are 2.5 billion people globally who do not use formal banks or finance institutions. Their economies are almost entirely cash-based and suffer from the chicken-and-egg problem: Since no one is willing to convert cash into digital form, there is no incentive for merchants to accept electronic payments. With nothing to sustain a system of electronic money, the cycle continues. (more…)

Analytics, Fintech news, Global trends, news

May 30, 2015

2215

What Startups Can Learn From LearnVest’s $250 Million Acquisition

TECHCRUNCH: When LearnVest, one of the hottest startups in fintech, announced its acquisition by Northwestern Mutual, the $250 million deal raised some eyebrows. While this partnership may seem unlikely at first, it actually makes a lot of sense for both parties. (more…)

Fintech news, news, PFM/PFP services

May 14, 2015

1716

Investing Early On for Insights, Not Profits

The New York Times: Life.SREDA’s friend Jay Reinemann, the head of BBVA Ventures, looks to back start-ups that could upend the entire financial services industry. (more…)

Fintech news, news

April 1, 2015