Leading digital bank Chime has launched an innovative new credit card called Credit Builder; surveys have shown that most millennials...
Monja shares a list of online lenders in the real estate space; discusses the pull back in construction financing by traditional banks and the continuing rise overall in the real estate construction sector. Source
The economic stimulus that was just agreed upon ultimately did not include a digital dollar but the idea was in...
Banks of all sizes and core provider FIS have begun testing Amazon’s Alexa service to complete voice commands in banking; instead of customers logging into their banking app they would simply ask Alexa for a balance or to transfer funds; skills, as they are referred to, are constantly being refined as confusion over pronunciation still occur with the technology only being widely used in recent years; it is still early days for this type of technology to be used in a sophisticated way but the industry is showing that they are willing to test innovative ideas. Source.
Last week interest rates hit an all time low; now some lenders are apparently inflating their advertised mortgage rates on...
Anthony Noto will serve as CEO and Director effective March 1; Interim CEO Hutton stated, “We are simply thrilled to have found someone of Anthony’s expertise and knowledge to lead SoFi. The SoFi board unanimously agrees that Anthony’s deep understanding of technology, consumer, and financial businesses make him the perfect fit to be SoFi’s CEO. We could not be more excited to have someone of his caliber on board.”; Noto has previous experience as COO of Twitter and also worked for Goldman Sachs. Source
Consumers faced unexpected expenses as the pandemic has taken an economic toll, so many have tried to fill the gap...
According to a regulatory filing Robinhood’s second quarter revenue came in at $180 million, nearly double the $91 million it...
Mike Cagney was previously a co-founder of SoFi; after resigning last year he began work on a new startup which involves home improvement financing and HELOCs; the company is called Figure and is live at www.figure.com; according to the website, “Figure is a financial technology company with the mission of leveraging blockchain, AI and advanced analytics to unlock new access points for consumer credit products that can transform the financial lives of our customers. We provide home equity release solutions, including home equity lines of credit, home improvement loans and home buy-lease back offerings for retirement.” Source
Tearsheet explores the trend of sub-branding offerings by banks including Goldman’s Marcus, JPMorgan Chase’s Finn and Wells Fargo’s Greenhouse. Source