Business Insider recently sat down with with Lori Beer, JPMorgan's chief information officer, about the bank’s strategy for working with companies in the fintech market; they have chose to work with fintech firms of all different sizes through a residence program for younger companies to partnership or acquisitions with maturing companies; the bank sees fintech as a core component of their offering. Source.
SupportPay is an app that provides a unique solution for managing child support payments; in 2016 the firm was one of only a few female led fintech venture capital fundraises; Sherri Atwood raised $4.1 million for development of SupportPay which offers a digital solution for receiving child support and tracking child care expenses; the increased transparency the child support app provides has helped the firm gain interest from state agencies and legal firms managing divorce cases involving child support. Source
The company recently held a conference call with investors to discuss options with a company called Jazco reportedly offering to take over the remaining deals on the site; the company was reportedly issued a subpoena by the SEC at some point regarding operational questions; in early 2016 a law firm attempted to restructure the firm but the company continued to face challenges; eventually the CEO William Skelley left the company at which point a consultant stepped in; no deals have been originated since late 2016. Source
There is a growing need all across the financial services landscape for top tech talent and now colleges are offering...
A new survey by BlackRock of more than 200 institutional investors shows that only a quarter say technology is as important...
Manuel Alvarez was previously general counsel and chief compliance officer at Affirm; today he was sworn in as commissioner of...
According to Bloomberg, Ripple attempted to provide financial incentives to exchanges Gemini and Coinbase for its XRP cryptocurrency to be listed; Some believe that the exchanges are reluctant to include XRP because the token could be deemed securities because it is controlled by one single company; the article by Bloomberg shares that a Ripple executive offered a $1 million cash payment to Gemini which was followed by other incentive offerings; Ripple also offered lending Coinbase $100 million of XRP to let users trade the asset. Source
The state of Virginia is alleging in a lawsuit against NetCredit that the online lender lent more than $47mn in...
In the last 5 years HarborOne Bancorp has converted from a credit union to a mutual bank, became 45 percent...
Sub-prime lender Elevate, while still awaiting the right time to go public, has expanded their product line by offering customers a line of credit for up to $3,500 called Elastic; Republic Bank is the issuer of the credit line and according to Elevate's CEO, Ken Rees, there are other institutions showing interest; Rees explains further, "Banks are terrible at lending outside of their branch footprint and they are not good at customer acquisition. We provide products and a set of underwriting tools that fits for non-prime customers." Source