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113

LA is fast becoming a fintech hub as HMBradley launches another West Coast challenger bank

via TechCrunch

US challenger bank is planning to launch its product next year and reward people for positive financial behaviour. The company has set up variable annual percentage yields for accounts based on the rate its customers save. The firm will provide customers with a digital bank account that combines both checking and saving features, and will also offer one-click free credit scoring and will have a network of 55,000 no-fee ATMs .  (more…)

Banks

November 6, 2019

255

Mastercard and Visa battle over Revolut deals

via FinTech Futures 

UK challenger Revolut will be launching its US card with Mastercard by the end of this year. However, the fintech will also be primarily issuing Visa-branded cards in its global expansion.

Revolut will use Visa to expand in 24 new markets, for a total of 56 around the world and simultaneously partner with Mastercard for at least 50% of existing and future cards issued in Europe (Visa will have the other half), according to a statement.

The fintech uses its licence with Lithuania’s central bank to service Europe, but it will have to partner with a US-licensed bank when it starts rolling out cards to US citizens. (more…)

Banks, Global trends, Mobile-first banks

October 22, 2019

4468

N26 launches its challenger bank in the US

via TechCrunch

European fintech startup N26 is now accepting customers in the U.S. The company is launching a bank account with a debit card that should provide a better experience compared to traditional retail banks. (more…)

Banks, Mobile-first banks

July 11, 2019

1983

Varo Money Builds A No-Fee, High Interest Paying Bank On New Technology

via Forbes 

Varo Money Inc. may be on its way to becoming the first full-service all-mobile bank in the U.S. It provides tools that let users monitor their spending and save for special purposes. It is similar to offerings from Simple and Moven which also offer advice on how much is safe to spend by using AI and machine learning to understand a customer’s income and regular payments, like rent. Like them it has worked through a partner bank.

Unlike them, it has applied for its own banking charter; in September 2018 it announced a preliminary approval from the Office of the Comptroller of the Currency (OCC) of its application to become a national bank. (more…)

Banks, Mobile-first banks

April 29, 2019

1339

Challenger banks face challenges with global expansion

via Tearsheet

European challenger banks are going global. Revolut and N26 are set on acquiring local licenses to launch in markets around the world by assembling regulatory SWAT teams. Others, like OakNorth, are licensing their technology out to go global. Regardless of the expansion strategy, it’s not all unicorns and rainbows as these neobanks push on the growth envelope. Challenger banks are quite delayed in their entry to the US market and have bumped into resistance in other geographies, too. Will challenger banks succeed with their global ambitions? (more…)

Banks, Mobile-first banks

April 15, 2019

1066

Envel bank launches “driverless” money management tech

via FinTech Futures

Envel, a challenger bank created around the use of artificial intelligence (AI) targeting millennials and Gen Zs, is launching a “Driverless Banking” framework that automates the steering of customer finances in real-time to stabilise spending.

The bank’s autonomous framework couples with Banking-as-a-Service (BaaS) solution Cambr, while using behavioural insights to centralise money management activities spread across multiple apps, platforms or services. (more…)

AI / Machine Learning / Big Data, Banks, Fintech news

April 8, 2019

604

Moxy picks Nymbus to power DC’s newest bank for 20 years

via FinTech Futures

Nymbus’ SmartCore cloud-based core platform has been picked to support Moxy Bank, Washington DC’s newest bank in two decades, reports Jane Connolly.

The bank will also implement Nymbus’ SmartDigital for internet and mobile banking and SmartPayments for debit card processing and fraud protection. (more…)

Banks

April 2, 2019

2240

How Zappos Decides How Much To Pay Employees Under Its New ‘Self-Management’ System

BusinessInsider: In 2013, Zappos began transitioning to “Holacracy,” an alternative management system that replaces a pyramidal hierarchy with a network of circles dedicated to specific functions like marketing or HR, and ditches traditional management. (more…)

Influences FinTech, news

July 25, 2015

4165

Square’s IPO And Dashboard App For iOS

Bloomberg: Square, the mobile-payments company founded and led by Jack Dorsey, the interim CEO of Twitter, filed confidentially for an IPO, people with knowledge of the matter said. Square has been working with Goldman Sachs Group, Morgan Stanley and JPMorgan Chase on the IPO, said the people, who asked not to be identified because the process is private. (more…)

Fintech news, news, POS/mPOS and online acquiring

July 24, 2015

1708

30% Of Etsy Sellers Earn Money Solely From Creative Work

FastCompany: If you’re a young, female creative type, Etsy is the place to be: In a new report released Thursday, the online marketplace divulged that 30% of its sellers rely solely on their creative endeavors, both on and off Etsy, as their primary source of income. And women make up an overwhelming majority of Etsy’s vendors – 86%, to be exact. (more…)

Influences FinTech

July 24, 2015

3069

PayPal IPO Vs Stripe Future

VentureBeat: PayPal started trading on the Nasdaq this morning at $41.46 per share. As an independently traded company, Paypal is already valued at roughly $50B. Compare that with eBay’s market cap of about $33.64B. After spinning off PayPal, eBay’s stock was trading down at $26.89 this morning. (more…)

Deals, Fintech news, Mobile payments/banking, news, p2p-payments, POS/mPOS and online acquiring

July 21, 2015

2452

The 7 Hottest Fintech Companies In Silicon Valley

BusinessInsider: Our 2015 Silicon Valley 100 list highlights the coolest people and companies in Silicon Valley right now. While only seven companies on our list are in the consumer financial technology (fintech) industry, they’re a wildly successful bunch. According to recent numbers, the US is the leading country in investments in FinTech in the last year (up 200% from the previous year). (more…)

Fintech news, news

July 21, 2015

2020

ShoCard Raises $1.5M For Its Digital Identity Card On The Blockchain

TechCrunch: What if you could get rid of your driver’s license? We’re not there yet, but ShoCard just raised $1.5M from Morado Ventures Partners, AME Cloud Ventures, Enspire Capital and Digital Currency Group to do just that. As a reminder, ShoCard certifies and stores ID documents into the Blockchain, so that you can securely retrieve them later and prove your identity whenever you need to. Its first use case is for bank and credit card identification processes. (more…)

Cryptocurrencies, Deals, Fintech news, news

July 17, 2015

1776

How 20 Years of Amazon Changed Retail

WSJ: Since it opened its website in July 1995, Amazon.com Inc. has grown from a seller of books into one of the world’s biggest retailers. Its growth has been fueled by a consumer shift to online shopping and Amazon’s willingness to sacrifice profits to expand. Here’s a look at 20 years of sales for Amazon and 3 close competitors – Target Corp., Best Buy Co. and Barnes & Noble Inc. – and a look how Wall Street has valued those companies. (more…)

Influences FinTech

July 15, 2015

1603

Paypal Co-founder New Lending Startup Affirm Gets Into Student Loans For Coding Bootcamps

TechCrunch: Affirm, the lending startup co-founded by Max Levchin, is breaking into student loans for coding, design and business bootcamps from General Assembly, Bloc, Kaplan’s Dev Bootcamp and Metis. The company, which raised $275M this past spring, is branching out from its initial market in online retail. They were originally financing purchases at the point-of-sale online with e-commerce companies like mattress retailer Casper. (more…)

Fintech news, news, p2p/online lending

July 14, 2015

1883

ZestFinance Launches Basix Online Loans For People With ‘Near-Prime’ Credit History

VentureBeat: Startup ZestFinance today announced Basix, a new program for giving loans online to people with what it calls “near-prime” credit history – those who are ineligible for a loan from a bank by just a little bit. (more…)

Analytics, Fintech news, news, p2p/online lending

July 14, 2015

1920

Realty Mogul Raises $35M For Its Real Estate Investment Marketplace

TechCrunch: Realty Mogul, a startup that connects investors with real estate projects, announced today that it has raised $35M in Series B funding. The company launched its online marketplace more than 2 years ago with a focus on equity deals funded by individual, accredited investors. (So it was offering a kind of real estate crowdfunding, but one where most people couldn’t invest.) (more…)

Crowdfunding/investing, Deals, Fintech news, news

July 14, 2015

1617

Betterment Just Made It Even Easier To Invest Money

TechCrunch: Betterment is billed as a smarter way to invest money. But as a separate investment service, getting cash to Betterment has always been a hurdle. The company today is taking the wraps off a new service that monitors an account holder’s bank account and invests cash just sitting there. Betterment says this service, called SmartDeposit, will give members more control from their money. (more…)

Fintech news, news, PFM/PFP services

July 14, 2015

1682

SMS Loans Let People Skip Banks in the Developing World

Wired: In 2009, a man named Duncan Chege opened up a modest Internet cafe – if you could even call it that – in Nairobi, Kenya. In the beginning, the cafe, called Vision Computers, had just one machine. After 3 years of committed operation by Chege, that number grew to 8, some of those machines being slow and clunky second-hand desktops. (more…)

Fintech news, news, p2p/online lending

July 14, 2015

1549

New Funding Rounds: CircleUp and Omaze

TechCrunch: As crowdfunding sites like Tilt and GoFundMe and lending site Funding Circle raise large rounds to take their businesses to the next level, a startup that sits in the same area of web-based fundraising is trying a new approach. CircleUp, a crowdfunding platform for consumer brands to raise money from accredited investors, has closed a $22M fund of its own to back a range of brands on the platform.

(more…)

Crowdfunding/investing, Deals, Fintech news, news

July 13, 2015

1572

Amex Negs Digital Wallets To Build Its Own Checkout, Pairs With Stripe To Spread It Wide

TECHCRUNCH: As Apple continues to build out Apple Pay for transactions in retail stores, one of its key partners is making a move to own the payment experience more directly online. American Express today is launching a new feature for cardholders called Amex Express Checkout, which it says will let them pay for goods and services on web, mobile and in apps with a single password that cardholders already have and use to access their Amex accounts — not unlike PayPal’s password-based checkout option.
(more…)

Deals, Fintech news, news

July 9, 2015

1339

Mall Operators Begin Cultivating Startups

WSJ: America’s startup-investing frenzy has reached the shopping mall. On the prowl for retail innovation, Simon Property Group, the nation’s largest mall developer, has funneled roughly $20 million into 18 startups, mostly over the past 15 months through its venture-capital arm, Simon Venture Group. In June, Simon invested $1 million in Union Station, an online bridesmaid’s dress rental service. In an early meeting, the two companies brainstormed ways that Union Station—which currently operates a showroom at its New York City headquarters and runs pop-up events around the country—might eventually develop a presence in Simon malls. J. Skyler Fernandes, managing director of Simon Venture Group, has also introduced the startup to roughly a half-dozen possible investors.

(more…)

Influences FinTech

July 1, 2015

1491

Bitcoin Exchange Receives First License in New York State

The New York Times: New York State’s top financial regulator has granted the first license to a Bitcoin exchange, allowing it to open legally to customers across the country. (more…)

Cryptocurrencies, Fintech news, news

May 7, 2015

New Startup Brings P2P Loans To Singapore’s Small Businesses

TECHINASIA: Meeting Capital Match co-founders Pawel Kuznicki and Kevin Lim, it feels like they are well on their way to bridge the gap between a technology company and big finance. Dressed in button-up shirts and dark trousers, I get the feeling they’re going to advise me about loans rather than discuss setting up a tech startup. It’s a good thing, then, that they are here to do both. (more…)

Crowdfunding/investing, Fintech news, InspirAsia, news, p2p/online lending, Singapore

April 17, 2015