Jim McKelvey, who co-founded Square with his pal Jack Dorsey, hasn’t been content to merely create a hugely successful innovator in card payments, he wanted to understand what had made it successful.
Lending Times reports on LendIt USA 2017's panel discussion on "The Future of Financing and Vehicle Purchases,"; auto financing is one lending category undergoing transformation with increased lending options online to make the car buying process easier; panelists from AutoFi, AutoGravity, Blinker, RouteOne and DriverUp discussed their solutions. Source
PYMNTS.com provides insight from MoneyGram CEO Alex Holmes on the Ant Financial merger; the merger represents a strategic deal that Holmes says will significantly benefit the industry and the shareholders of both companies; both companies are leading payment providers with MoneyGram offering global payment processing capabilities and Ant Financial seeking to expand on its market position in payments through Alipay in China; "We are going to see, when this deal goes through, those capabilities getting built out between our two organizations in a much more robust and dynamic way," said Alex Holmes. Source
Under its £100 billion Climate and Sustainable Funding and Finance ambition, NatWest is now providing tools, via an online Climate Hub, to help small and medium-sized enterprises (SMEs) go green.
Low wage workers have always had a difficult set of expensive options when they try to cash their paychecks; bank accounts are costly because they cannot maintain certain balances and check cashing shops are not exactly cheap; WiseWage, a North Carolina based non profit is looking to offer another option; the company has struck partnerships with Regions Bank and Varo Money, among others, to offer a lower cost direct deposit; the prepaid cards have set fees which can be waived if enough is loaded each month; the program is meant as a test to see if they can enlist those who have dropped out of the financial system because of a lack of options. Source.
Many of the major US banks are now adopting digital strategies into their business; Lend Academy shares progress from JPMorgan, Bank of America, Wells Fargo, Citi and Goldman Sachs. Source
U.S. Bank today announced a real-time payment collaboration with Apex Fintech Solutions (“Apex”) to provide greater speed and security to money movement between individual investors and broker dealers.
Eric Schmidt, chairman of Google's parent company, Alphabet has become CFO Marty Chavez's new mentor at Goldman Sachs; the relationship is part of a new initiative that has Goldman Sachs focused on making its services for risk comparable to Google's services for search; the bank wants to be the leading source for trading and managing risks giving its firm the attention of risk managers that Google gets from advertisers; to do this it has created Data Lake, a machine learning platform that manages information on transactions, markets and investment research as well as communication from emails, voice calls and instant messages; the new internal technology system is based on APIs that connect different parts of the business to the Data Lake central database making its communication processes more efficient. Source
Following a seed round, the Gaia EverWorld team has announced an NFT sale via a collaboration with the Binance NFT marketplace, as well as securing a grant from the Polygon Foundation, and 'completed a successful IDO.' The land sale will 'allow Gaia EverWorld to claim
Affirm's earnings were fantastic. This continued the trend of publicly traded fintech companies breaking records for revenue and profitability.