SoFi has acquired Zenbanx which will expand its offerings for clients to digital banking; Zenbanx offers online and mobile banking with international money transfer services and deposits available in multiple currencies; SoFi's CEO Mike Cagney says he expects SoFi to begin offering customers digital banking accounts in the first quarter of 2017; according to a Wall Street Journal source the Zenbanx acquisition was valued at approximately $100 million. Source
Cross River has agreed to buy Seed for an undisclosed amount to improve their on-boarding system; “The technology is very...
Wells Fargo, PayPal and Discover have joined together to help provide capital for fintech startups founded by women; in Q3...
Experian has partnered with Finicity to launch Digital Verification Solutions, a service that leverages Finicity's technology to connect with financial institutions for verifying income and assets; Experian is the first credit bureau to offer this type of solution; in addition to offering an enhanced service, the solution is also intended to help lenders broaden their credit underwriting for thin file borrowers; Finicity is also working with other lenders to help improve verification processes and shorten the end-to-end processing time for lending. Source
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Senate Committee remained unconvinced by Greg Becker's apology citing multiple warnings and increased paychecks as risks mounted.
Episode 255 features Vishal Garg, the CEO and Founder of Better.com; he discusses the state of the mortgage market with...
Banks call on Congress to freeze new ILC approvals How the pandemic is propelling Zelle With Robinhood’s UK launch delayed,...
According to the WSJ, a combination of increasing loan losses and credit card rewards expenses are having an impact on...
The pandemic has helped many fintech firms prove their worth even if there has been a fair share of down...
President Trump’s pick to head the FDIC, Jelena McWilliams, has spoken favorably about ILC charters in the past; ILC charters exist in a handful of states, most notably Utah who has seen a spike in inquires about applications; charters can allow fintech companies to bypass state by state licensing; ILC charters are an controversial way for fintech companies to act like banks and with the national charter proposed by the OCC in limbo more companies might look to take this route. Source.