Affirm (NASDAQ: AFRM) today announced the launch of two significant additions to its product suite: the Affirm SuperApp and Chrome browser extension.
Like many other startups, fintechs face challenges with a slowdown of funding and reduced revenues; these companies are more vulnerable...
Traditionally seen as the tool of the super-rich, thanks to open finance, personalized financial advisory services could be taking a turn.
The continued push by Amazon into financial services could have a bigger effect on startups over banks; Nicolas Parmaksizian, global head of Capco digital, tells TearSheet, “If you combine an Amazon with a Capital One, you’re combining the amazing power of Amazon and Capital One’s data analytics, and that’s a challenging thing to compete with as a startup banking brand.”; digital only banks look to offer a better experience at a lower cost than the traditional banks, adding Amazon into the mix could drown out those startups before they ever get going. Source.
Bruno Vieira Costa‘s desire to enter the world of technology came very early. He came from Marabá, a city in...
The trend isn't the end of relationship banking, but partnering and a niche market focus will be essential, especially as CRE lending slows.
As real time payments have begun banks are finding it a challenge to implement them; how much should banks charge corporate clients for the service and how best to handle legacy infrastructure are two of the main questions they are grappling with; “Banks need to understand how they monetize these services,” Vinay Prabhakar, head of markets strategy for payments at Finastra, said to TearSheet. “Most banks have lucrative credit card programs, so how do they roll out RTP without cannibalizing their credit card models?”; Christopher Ward, PNC Bank’s head of treasury management product management, believes progress is being made and 90 percent of banks will have implemented real time payments by end of 2019. Source.
The Financial Times reviews company and loan performance at various online lenders; shares that Shanda Group bought more shares of LendingClub after forecasts were adjusted last week; LendingClub also recently stopped making F & G grade loans available to investors; broadly, delinquency rates have increased across online lenders; valuations of other companies such as Earnest and Prosper have also been affected. Source
Amazon will now allow customers to add cash to their Amazon accounts through barcode scans at participating retailers throughout the US; funds will be immediately available for use; the firm says the initiative is expected to target underbanked customers; Morgan Stanley says the announcement could decrease the chances of the firm partnering with PayPal for payments which is a deal the market has been potentially anticipating between the two companies. Source
Blockchain Week New York, headlined by the Consensus 2018 conference, has wrapped up. There was more blockchain and cryptocurrency hype...