Credibly discusses the evolution of the fintech market and the firm's current market position in their featured blog post; central to their discussion is the integration of data science into all aspects of finance and the intersection of data science and bank partnerships; in what Credibly calls Generation 3.0 of fintech, online lenders are developing lending business models which also include software as a service (SaaS) products that are an extension of their proprietary technology; Credibly discusses the benefits of SaaS technology and the strengths banks present in partnering with fintech innovators; together the user experience is only expected to improve as more partnerships are formed throughout the industry. Sponsored Blog Post
Robinhood is currently undergoing a new fundraising deal that values the company at approximately $1.3 billion with investment from DST Global; the undisclosed funding will add to previously raised capital of $66 million; the firm offers commission free trading on US stocks and has also launched a premium Robinhood Gold option for faster money transfers and margin trading. Source
Michael Lewis is a well known author, writing The Big Short, Moneyball and Liars Poker; Lewis is a great storyteller...
The Independent Community Bankers of America have expressed concern about Square’s plans for a bank charter; they believe it would set a precedent for other tech companies like Amazon; According to Jacqueline Reses, Amazon and Facebook haven’t expressed interest in a banking license and they would have to be evaluated on their own merits; Square also recently met with the National Community Reinvestment Coalition to address concerns with the Community Reinvestment Act. Source
Acting CFPB Head Mick Mulvaney said he thought the payday lending rule was too far along for the agency to change but that he supports a congressional rollback; the Congressional Review Act gives Congress 60 days to nullify a regulation; Mr. Mulvaney is currently involved in a dispute over whether or not he can run the agency on an interim basis and he said he anticipates staying for 5 to 7 months. Source.
Ron Shevlin’s latest article in Forbes digs into what the future might look for Google in financial services; it seems...
N26 has shared that they have crossed 5 million customers, up from 3.5 million last summer; in 2019 they added...
A recent report commissioned by Pepper, a 100% mobile bank created by Israel’s leading bank Bank Leumi, claims retail banks are seriously...
A new study by a team of computer scientists from Cornell Tech, Carnegie Mellon University, the University of Illinois in...
The startup has officially raised their $100 million round, valuing the company at $2.6 billion; what’s amazing is that the...