The FDIC proposed new standards for companies seeking an ILC charter including parent companies agreeing to examinations, specialized capital and...
Brett King developed his company Moven as a better solution to banking; after gaining only 60,000 customers since the digital bank's launch, he is now selling the software to banks for use in mobile apps; Moven and many other digital bank competitors are losing some of their appeal in the startup space as the Trump administration seeks to ease banking regulations that resulted in less risk taking from banks and greater opportunities for startups; as the landscape changes under the new presidential administration, it's likely that the latitude and interest from banks in partnering with startups will increase. Source
German fintech Deposit Solutions has acquired Savedo; Savedo is also a startup in the fintech space and the two firms offer similar services; Deposit Solutions provides a deposit marketplace for savers allowing them to move funds among 15 European banks in order to achieve the highest rate of return; Savedo will help Deposit Solutions expand its offering by adding 13 new banking partners and integrating 18,000 new customers. Source
According to new research by open banking platform provider Tink 41 percent of European banks failed to meet the latest...
Consumers faced unexpected expenses as the pandemic has taken an economic toll, so many have tried to fill the gap...
Last August Google announced a crackdown on short term lending apps offered on its Android platform; but it appears to...
Financial firms like TD Ameritrade and Ritholtz Wealth Management have found early success in interacting with customers through Amazon’s Alexa...
PitchIt @ LendIt Europe is one of the industry's most popular startup competitions providing eight finalists with unparalleled access to industry expertise and funding opportunities as well as invaluable exposure, branding and more at the event; hosted in partnership with Startupbootcamp, the event also offers fast-track status to the finalist round for Startupbootcamp Fintech Accelerator as one of its prizes; interested startup companies must submit their application by September 4 and finalists will be announced on September 10; more details about the competition can be found here. Source
DecisivEdge is a consulting and technology services provider which recently announced a lending and leasing as a service product; the new product will be powered by Oracle; small and medium sized lenders will be able to leverage the technology; the new offering is hosted in the cloud with 24/7 monitoring and support; Andrew MacDowell, senior vice president of business optimization stated, "The traditional model requires a sizable up-front capital expense to acquire the software and infrastructure, often putting such a solution out of reach for small and medium sized lenders." Source
The blockchain startup has now raised a total of $110mn after taking in $40mn in a series B round; Jefferson River Capital led the funding round, which also included new and previous investors; in addition to the fundraising they hired Clyde Rodriguez, a former Microsoft executive, as chief information officer and chief technology officer for engineering. Source.