Fintech infrastructure is still hot. As earnings season wraps up, we heard from nCino yesterday as they reported on their fiscal first quarter, which ended on April 30.
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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.
Here is another use case for generative AI. BNPL giant Klarna is using Gen AI to run marketing campaigns and generate images.
While Synapse collapse is in the news a lot right now, this is a reminder that not all fintech is created equal. Let's not forget that there are many fantastic innovations that have come out of the rise of fintech.
Last month, it was Chase, this month, it is PayPal launching a new ad business.
PayPal has hired Uber's former head of advertising to run PayPal Ads, the new division that will be selling targeted ads based on its customer data.
It has been the talk of the crypto world all week. SEC watchers noticed early this week that the regulator appeared to be getting ready to approve an ETF for funds holding Ethereum.
There is no area of fintech moving faster than identity verification today. With new attack vectors coming online every day it is critical for banks and fintechs to be at the top of their game here.
The slow-moving dumpster fire that is the Synapse-Evolve meltdown has turned into a nightmare for many fintech customers.
Synapse acted as a middleman between banks and fintechs, but there have been several disagreements between Synapse and these banks and fintechs. Consumers who assumed their money was safe are caught in the middle.
It has been a busy last few days for the CFPB and their fintech work. For the third consecutive day this week our lead story concerns actions taken by the CFPB.
This time it is around BNPL. The CFPB is proposing new rules that would essentially lump BNPL in with credit cards when it comes to consumer protections.
Speaking at an event yesterday, CPFB Director Rohit Chopra said his agency is looking at "price gouging" in credit reporting.
With credit reports required for selling mortgages to Fannie and Freddie, mortgage lenders have no choice but to pay for them. Some lenders have shared that the costs for credit reports have increased by up to 400% since 2022.
On Friday, the CFPB announced it was suing mobile peer-to-peer lending platform SoLo Funds for multiple issues.
SoLo Funds targets minority and other underserved borrowers with short-term loans of up to $575. This is a challenging population to serve and a difficult niche to profit from.