Personal financial management or PFM apps have become one of the hotter areas in fintech the last few years; but with more companies starting the competition has been steep and now banks are incorporating a lot of the same features within their mobile apps; TearSheet interviewed Jillian Williams of the Anthemis Group about the PFM market; the interview covers how hard it is to differentiate your product when so many similar firms are out there and why are companies still receiving investment from VC’s; other topics include banks offering a similar suite of products, whether or not robo-advisors will add PFM capabilities and what’s next for the market. Source.
Intuit has launched a new lending product called QuickBooks Capital; clients of the accounting software provider will be able to access up to $35,000 in credit with terms between three and six months. Rania Succar, head of QuickBooks Capital stated, “As the largest small business accounting platform with approximately 2.4 million customers, the QuickBooks platform provides the most complete set of small business data available in the market.” Source
Wage advance fintech Earnin has started to shift their focus to employers in a bid to reach more consumers; companies...
A federal district court in the Southern District of New York has ordered the Bethune v. Lending Club Corporation, et al. case to proceed to arbitration; plaintiffs argue that Lending Club loans were in violation of state usury laws despite their association with WebBank; while the case is still pending, the court has said it will be decided through arbitration due to clauses in place by Lending Club. Source
A new study by Cornerstone Advisors and Acxiom examined how the financial lives of women differed from men; the study...
New financial app Vota is looking to help customers get a better handle on spending and use habits to build...
Real estate investing startup Cadre signed a partnership with Goldman Sachs to allow their private wealth clients access to the platform; Cadre has already been able to secure $250mn in commitments from Goldman’s clients and has said their is a steady stream still in the pipeline; private wealth clients will get a log in for Cadre and access to vetted deals in commercial real estate; in addition to the partnership Goldman Sachs also becomes and investor in the company. Source
This American Banker op-ed on open banking discusses the progress that has been made in Europe, particularly the U.K., and...
Railsbank offers an open banking and regtech platform and last raised a $10 million Series A in September 2019; the...
SFVegas 2020 is right around the corner, and you won’t want to miss out on our riveting lineup of keynote...