Stash is now letting customers invest in single stocks as it looks to broaden their product offerings; the company allows customers to by portions of shares for a minimum of $5; the new offering allows investors to invest in single companies as opposed to single strategies as they have with themed ETFs; the average investor on Stash is 29 years old and has a household income of $45,000 a year. Source.
As banks look to reassess how to utilize their branch space, TearSheet took a close look at the Citizens Bank branch overhaul; the bank is looking to make the branch into digitally connected community centers; they are looking to reduce their branch footprint by 50 percent over the next decade and look to utilize the spaces they have better; less teller lines, more private meetings rooms and digital tools to help engage the different types of customers. Source.
In his latest piece, Ron Shevlin digs into the looming PPP forgiveness nightmare; the second round of the Paycheck Protection...
Consumer behavior is changing as most purchases move online and in-store payments are increasingly contactless; many fintechs in the payments...
Coinbase has been the top cryptocurrency exchange for the US market as it’s process makes signing up and buying bitcoin simple; they have seen accounts jump from 5.5 million to more than 13 million in less than a year; their success has not been without growing pains with a number of outages occurring and customers lodging complaints that no one was available to help them; recently they also came to an agreement with the IRS to hand over records of customers involving more than $20,000 which was a compromise from a year long battle. Source.
Real estate brokerage Redfin piloted a program in Boston that allowed unrepresented homeowners to sell homes through their website; sellers...
Alternative credit data company VerumView has developed a product primarily focused on capturing data surrounding an end-user's email; it's built on an API-based know your customer service (KYC) and helps to provide credit decisions on thin file borrowers; the system can service the following: identity verification, fraud detection, KYC, anti-money laundering, TF prevention, loan and insurance underwriting, credit and affordability scoring, competitive analysis and targeted marketing. Source
AI-Powered consumer lender Upstart closes a new equity round and announces three new partners for their “Powered by Upstart” SaaS...
For the first time ever we had the CEO of Quicken Loans, Jay Farner, on stage at LendIt Fintech USA...
T-Mobile recently announced a partnership with BankMobile to offer mobile money accounts to serve the underbanked population in the U.S.;...