In an interview in American Banker, Meiler discusses Marlette’s culture which aims to keep employees informed of the company’s goals; their strategy includes quarterly all-hands meetings with the company’s 100 employees to share what the goals are for the next 90 days; Meiler also shares how the company shifted its focus to profits given the changing environment and how this resulted in $11 million in GAAP profits last year. Source
In recent months Jersey City has seen three more companies relocate to the area; companies recently relocating include Yellowstone Capital, World Business Lenders and Principis Capital; this is in addition to BlueVine and Funding Metrics recently opening up operations in the city; one of the main drivers behind the move is the Grow NJ tax program helping businesses save money by relocating. Source.
The new fintech company is called COIN and targets millennials and other first-time investors; it aims to educate investors on...
Two years ago John Hancock acquired AI startup Guide Financial that helped to set the stage for their newly released robo-advisor Twine; “We weren’t going to be a Vanguard, and on the other hand, there are actors like Robinhood — we landed somewhere in the middle,” said Barbara Goose, John Hancock’s chief marketing officer as reported by Tearsheet; the company is completely separate from John Hancock, in technology stack and management, though they do coordinate with the firm through their innovation officer; allowing Twine to be separate but still connected to the main firm gives them flexibility and allow them to target their millennial customer. Source.
The Conference of State Bank Supervisors (CSBS) is suing the OCC to challenge its plans for a fintech charter; central to the case is the OCC's authority to grant special purpose bank charters; CSBS President and CEO John Ryan says, "The OCC's proposed action ignores Congress, seeks to preempt state consumer protection laws, harms markets and innovation, and puts taxpayers at risk of inevitable fintech failures." Source
Experienced fintech expert, John Sculley talked about investment opportunities he sees in the market at LendIt USA; former president of Pepsi and former CEO at Apple, Sculley says he is interested in transformative opportunities; in the fintech sector, Sculley recently joined the board of directors at Lantern Credit after becoming an investor; Lantern Credit is positioned to provide transformative technology with machine-learning services for financial institutions that allows for a broader assessment of a borrower's creditworthiness. Source
Originally coined by Forrester in 2015 journey analytics has become a big buzzword in financial services; the term refers to...
Joust is a new digital bank that is focused on the growing segment of gig economy workers and freelancers; they...
Former head of fintech strategy at Chase, George Kurtyka, recently launched the digital bank Joust to focus on providing small...
A consortium of banks that include JP Morgan Chase, Goldman Sachs, BNP Paribas, Credit Suisse and Citi trialed a distributed ledger platform that proceeded equity swaps from beginning to end; the AxCore platform by Axoni would allow for payments to process instantly and reduce potential disputes; Greg Schvey, CEO of Axoni, said in a statement reported by CoinDesk, “Equity swap data is infamously complex and difficult to manage, making it a terrific fit for distributed ledger technology.” Source.