Tom Blomfield believes that banks focus too much on their existing financial products such as mortgages, loans and credit cards;...
Popular crypto lender BlockFi is cutting around 20% of its staff after the "dramatic shift in macroeconomic conditions."...
The generation is turning to mobile devices to manage their money, Olle Lind, founder of Buddy app says, it's logical.
Top executives from six major cryptocurrency companies including Coinbase and Circle on Wednesday urged Congress to provide clearer rules for the booming $3 trillion industry, but warned that overly tough restrictions would push it overseas.
Lendio Provides More Than 5,000 Kiva Loans to Support Women-Owned Businesses Around the World The Clearing House Gets Going With...
Insurtech firm Lemonade is expanding to 46 new states and the District of Columbia; launch in Washington, Wyoming and Mississippi will be delayed because of statutory wait times; firm will continue to focus on its main product which includes insurance for homeowners and renters. Source
The current crisis has highlighted some of the key areas where banks fall short with their customers; while writing in...
American Banker profiles Instant Financial which was founded in 2015; the company aims to shorten the time frame to when employees get paid; using the app employees can unlock portions of their paychecks which can provide an alternative to payday loans; they recently partnered with Sutton Bank in Ohio for their US expansion. Source
While most banks still do not offer a forecasting type feature Wells Fargo has added it to enhance their app experience; the bank says a customer can receive 50 different messages based on their account activity; “Having information in the palm of their hands can help lead customers to take action and make more informed financial choices,” Steve Ellis, who heads the bank’s innovation group, said in a press release reported by American Banker; the bank has had their share of issues recently but innovation has been one area where the company has excelled. Source.
Consumers and small businesses in the UK have been hit by the Wirecard scandal as the UK’s Financial Conduct Authority...