Cross River is well funded and last year raised $28 million; the bank has historically worked with the big players in online lending with back end infrastructure; now the bank is developing a mobile banking app; Tearsheet spoke with CEO Gilles Gade at Money2020 to learn more about how they have been using funds from their round last year and what they are working on for the future. Source
The Financial Conduct Authority released firm-specific complaint data for the second half of 2019 which showed that challenger banks hold...
Banks know they cannot compete dollar for dollar for top tech talent and are starting to adjust their offerings to...
Yieldstreet Adds Startup Investments in Greycroft Partnership. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Kabbage's chief technology officer Amala Duggirala has taken a new role with Regions as the bank's chief investment officer; Amala Duggirala has been with Kabbage since November 2016 leading the firm's technology platform efforts; prior to Kabbage she worked as executive vice president of application development at payments technology company ACI Worldwide; her technology experience in lending and payments will help to support and enhance product development and innovation in her new chief investment officer role at Regions. Source
Today, the University of Michigan's "Next Billion" initiative writes about Bill and Melinda Gates Foundation research into financial inclusion and fintech; part of the research addresses payment aggregators that use APIs to connect buyers, commercial enterprises and other clearinghouses; the research claims that creating truly open APIs, which don't require complex legal agreements or technical integrations between parties, would be of great benefit to the financial ecosystem, including enhanced innovation and reduced transaction costs; a case study about Selcom, an African payment aggregator, highlights six areas suitable for near-term open API development: payment initiation (including via mobile wallets and online chatbots), check payment status, retrieving account history, easily cancelling a payment and a set of user interface foundation code that can be white-labelled by any customer-facing innovator. Source
Leading UK challenger bank, Revolut, is growing fast and now has around four million customers; they are adding new customers...
Experian will integrate BioCatch with its fraud prevention platform; the new platform services will use behavioral biometrics to help clients detect fraudulent credit card and loan applications; with BioCatch clients can consider a range of factors including the speed at which information is entered and how familiar a user is with the application process. Source
Chicão Bulhões, the city's secretary of economic development, told CoinDesk TV the move seeks to reduce locals' distrust of cryptocurrencies and turn the city into a crypto hub like Miami.
LendEDU is a website that claimed to be a place for users to offer objective reviews of lenders; according to...