Nationwide has made a strategic decision to shut down their retail banking operation; the firm said they are returning to...
Millennials are one of the largest target markets for digital only banks as they attempt to cut into the dominant...
Fintechs looking to achieve or maintain stability in 2024 need to focus of three key areas: cost discipline, measured growth and regulatory compliance.
Lending Club has hired Santiago Suarez, JPMorgan's head of new technologies; he will join Lending Club as the firm's head of strategy and mergers and acquisitions; at JPMorgan, Suarez was involved with testing blockchain and machine learning; he also worked in the bank's corporate strategy group, focused on managing top strategy issues for the bank. Source
Both Tencent and SoftBank have invested in the company called Ualá which is seeing massive growth during the coronavirus crisis;...
Ant Group, formerly known as Ant Financial, the creator of Alipay, has said that it is planning to do dual...
Fintech startup LendStreet helps consumers who become over leveraged and cannot handle the debt load they have acquired; it negotiates...
Renren, a publicly listed company in the US operates a social media platform in China but has also made several fintech investments; investments include LendingHome, Fundrise, Motif Investing as well as a significant stake in SoFi; a year ago Renren announced plans to spin off its minority venture stakes into a new subsidiary; under the plan retail investors would receive a cash payout, losing their exposure to SoFi; Ryan Roberts, director at MCM Partners stated in the Forbes article, “It certainly looks like Joe Chen is trying to strip the best assets from Renren, particularly SoFi. SoFi is basically the entire value of the company right now, the core business has really deteriorated.” Source
T-Mobile recently announced a partnership with BankMobile to offer mobile money accounts to serve the underbanked population in the U.S.;...
Here are the most read news stories from our daily newsletter today: OCC chief expects SWIFT-like bank-to-blockchain connections in 3...