It was a month ago that YieldStreet shared that they had partnered with Citi to offer their investors access to...
BBVA has announced their Open Talent competition which is dubbed as the world’s largest fintech competition; the competition is in its tenth year and will focus on banking, data, money management and financial decision-making; the winner will take home $186,000 and finalists will take part in an immersion week which will show them how to work with a big corporate, become a customer of the bank and more. Source.
The new fintech company is called COIN and targets millennials and other first-time investors; it aims to educate investors on...
LendUp has secured a new $100 million credit facility from Victory Park Capital bringing its total financing to $325 million; the firm has also announced a new lending milestone, with loan originations surpassing $1 billion from more than 3.3 million loans; the firm was launched in 2012 and seeks to support the emerging middle class through lending and financial education. Source
Business Insider sat with Coinbase’s Dan Romero who recently took on the role of general manager and vice president of the company in January; the interview covered the company’s plans for growth on the engineering and product sides; he said the company is looking to become for cryptocurrency what Google has become for search; the interview also talks through the recent SegWit upgrade, where Coinbase is headed in the next few years and how they compare to their biggest competitors. Source.
The Office of the Comptroller of the Currency (OCC) has announced it will create an Innovation Office with staff in Washington, New York and San Francisco; the new Innovation Office is part of a broader framework for responsible innovation also released this week; the Innovation Office will provide a dedicated staff of government officials focused on innovation affecting federally chartered banks and the banking system; it will also seek to manage the OCC's framework for responsible innovation for banks and nonbanks. Source
According to the The Federal Reserve’s 2016 Survey of Consumer Finances the median net worth for Black households was only...
Buy now pay later firms are quickly becoming the alternative to credit cards during the pandemic; companies like Afterpay, Zip,...
On Monday, ApplePie Capital announced new investment deals with TowerBrook Structured Opportunities Fund and a group of investors led by QED Investors and Fifth Third Capital; the TowerBrook Structured Opportunities Fund will invest $180 million in the platform's loans over the next two years; QED Investors and Fifth Third Bancorp led a Series B investment round for ApplePie Capital raising $16.5 million; ApplePie Capital has partnerships with 40 franchise brands and provides loans to support their franchisees. Source
Ebay dropped PayPal and turned to Adyen to be its primary processing partner; Banking Technology reports that eBay users “do not need to take any action at this time” as the “transition to full payments intermediation will be a multi-year journey”.; the deal will begin with a move in North America in the second half of 2018 before expanding in 2019. Source.