Otting said Wednesday to reporters that no firms considering the OCC Fintech Charter have mentioned concerns about the Fed standing...
TransferWise, Revolut and Monzo are all fintech companies that are hiring staff remotely at a time when many are cutting...
The Co-founder and Head of Business Development at SALT Lending introduces us to the world of asset-backed cryptocurrency lending. Source
Digital banking is becoming more important than ever during the pandemic and leading VC Andreessen Horowitz believes branches are not...
Prices of cryptocurrencies NEO, OMG and ETP crashed close to 90 percent on the Bitfinex exchange before reverting back to normal levels; the crash caused the closure of many accounts that made leveraged trades and lost those accounts thousands in potential profits; Bitfinex claims the exchange worked as it should in the situation, but traders disagreed and complained via social media about the crash as well as demanding refunds; the site was slow to respond and traders unable to access their accounts according to complaints; incidents like this test the overall cryptocurrency markets as many believe they are unstable and not safe. Source.
Business lending at banks is up 3.3 percent year on year as of May 9th, improving but far below double...
Leading fintech small business lender Kabbage has been a major force in getting PPP loans into the hands of small...
Marketplace provides insight on Goldman Sachs' new online lending business discussing the culture and variance from the traditional aspects of the investment bank; one reason for the divergence in culture is the company's focus on building Marcus as a tech startup within the bank; the investment bank's venture has gained considerable industry attention and also attracted talent from leading technology companies including Facebook and Google; it appears to be well positioned in the market with numerous competitive advantages supported by the legacy bank's 147 year history. Source
The $5.8 billion in receivables sold to Synchrony according to a TechCrunch article, “also includes Synchrony’s acquisition of $1 billion in participation interests in PayPal receivables held by certain investors and a chartered financial institution.”; the two companies have partnered since 2004 to offer PayPal users branded credit cards; Synchrony will now be the exclusive issuer of the PayPal Credit online consumer financing program. Source
Digital banking fintech Stash has raised a $112mn series F round from LendingTree and T. Rowe Price; previous investors Breyer...