Anthony Noto, COO of Twitter, has been offered the position as SoFi CEO. Source
In an American Banker op-ed, a senior fellow at the Cato Institute argues against the idea of allowing post offices...
Citigroup reported that the number of customers using its mobile app rose 25% to 10 million from the first quarter...
LendingClub announced yesterday an expansion of balance transfer loans which they had previously been calling direct payoff; now more borrowers...
This year has already seen some major shifts in focus for the BNPL market- should banks be concerned about the B2B focus?
Decentralized Finance (DeFi) on public blockchains is one of the most interesting and quickly growing technological innovations in financial services;...
Seeking to be more involved in auto financing, the firm has launched Clearlane; the platform has been developed from the firm's acquisition of BlueYield; the integration and enhancement of the acquired business has resulted in a simplified customer experience and broad range of offerings; the platform includes over a dozen finance providers offering consumers auto financing and auto loan refinancing options with various opportunities identified for expansion. Source
American Banker has published a rebuttal to a recent article about the “Madden fix bill” by Steve Astrada; article discusses how the bill will increase access to credit and benefit customers instead of increasing predatory lending; it also shares the consequences of the Madden decision and reviews the details of the case. Source
According to a blog post by the company, the fund will provide. ”financing to promising early stage companies that have the teams and ideas that can move the space forward in a positive, meaningful way”; the company also said it will not invest in security tokens at this time; it is likely that the company is sitting on significant amounts of cash which put it in a good position to launch a fund; revenues in 2017 totaled over $1 billion; Bloomberg reported that the top ten largest crypto exchanges take in $3 million in fees per day. Source
Propel, the $150 million fintech venture capital company set up by Spanish bank BBVA is investing $14.1 million into InsurTech startup, Hixme; the investment was announced at Money 20/20 in Las Vegas; Propel’s sole backer is BBVA - its $150 million of funding makes it one of the biggest fintech-focused funds in the world; the company's hope is to invest in next-generation fintech companies. Jay Reinemann, managing partner at Proper Ventures, says: "Insurance has been one of the latest hot areas, it's been that way for at least a year. Source