Due to the regulatory environment in the US digital banking startups have opted to partner with banks to offer banking...
After three long years and more than 5,000 pages of paperwork Varo Money has officially secured a national bank charter;...
Varo Money has raised rates on checking accounts to 2.8 percent, the highest rate in the market and well above...
Varo Money has ramped up their marketing campaign to position themselves as a better option than the banks; the fintech company is not going directly at the banks in their ads as some other fintechs have done, they are instead highlighting their own offering; their ads can be seen on Twitter, Facebook, Instagram and Pinterest; they are also focusing on their customers overall financial lives, empowering their users to understand what they make and how they can spend wisely. Source.
Digital bank Varo Money has made the decision to shut down their consumer lending division; Business Insider reports “With the...
The Venture Capital industry has seen some early signs of positive change when it comes to gender discrimination and diversity; though some still believe there is no issue and that they cannot do anything to effect change; brave women like Ellen Pao and Susan Fowler have helped others to share their stories and men in power have been forced to leave and policies at firms have changed; you are starting to see VC’s hire more women and require companies they fund to show diversity among their executive ranks; there is still a ways to go for VC’s and Silicon Valley overall, though change is happening. Source.
An article in Tearsheet discusses how VCs are more interested in funding companies looking to improving legacy financial systems; Patricia Kemp, partner at Oak HC/FT responded to a comment about the prospects of consumer facing fintech in 2018 stating, “The largest category of successful fintech are the ones that are helping the banks get there.”; while there are still opportunities for new consumer solutions, it is just as important to innovate on back-end systems. Source
Consumer behavior is changing as most purchases move online and in-store payments are increasingly contactless; many fintechs in the payments...
Join the National Venture Capital Association’s on June 5 in Washington, D.C. for VCs-to-DC, which convenes top venture capital investors, entrepreneurs,...
According to data from CB Insights global venture capital funding into fintech dropped 45 percent from Q4 and 25 percent...