The Synapse debacle continues.
Former FDIC Chair Jelena McWilliams is the court-appointed trustee managing the bankruptcy process. She was appointed on May 24.
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Peter Renton cofounded Fintech Nexus as the world’s largest digital media company focused on fintech before it was acquired by Command. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.
Greenlight has been a leader in helping young children and teenagers develop financial skills. Its app is used today by more than six million parents and children.
While the company was traditionally focused on a direct-to-consumer model, it is increasingly developing partnerships with large banks to accelerate its growth.
The largest payments network in the US is the ACH network. It is probably the most important fintech infrastructure ever developed and it is now 50 years old.
Robinhood is still bullish on crypto despite the SEC warning the company it plans to sue over this part of its business.
We learned yesterday that Robinhood will acquire crypto exchange Bitstamp for $200 million, making this its largest acquisition to date.
Nium, a real-time payments infrastructure company, has closed its $50 million Series E at a $1.4 billion valuation. That is 30% below the valuation from its last funding round in 2022.
UK digital banking pioneer Monzo reported its financial results for the 2023-24 fiscal year today.
The numbers are impressive. Total revenue was £880 million for the year, more than 2x the £356 million from the previous year.
Plaid has announced a new cash flow underwriting tool call Consumer Report that is the most comprehensive offering for lenders yet.
UK digital banking pioneer Monzo reported its financial results for the 2023-24 fiscal year today.
The numbers are impressive. Total revenue was £880 million for the year, more than 2x the £356 million from the previous year.
When it comes to the adoption of generative AI in finance, we are still at the top of the first inning.
That is why it was really interesting to read Penny Crosman's article yesterday about what is top is mind for bankers when it comes to Gen AI.
While the BaaS space is having a moment right now, there are some banks, like Pathward, that continue to serve their many fintech clients successfully.