After a successful first quarter, LendingClub posted earnings of $.39 a share on revenue of $289.5 million, beating analysts' expectations.
Moven announced last week they would shutter their challenger bank offering and all accounts would be closed by April 30th;...
CB Insights has released a market report on artificial intelligence; the report includes the market landscape, market statistics and an outlook for future growth; in the first quarter of 2017 the sector reported 30 artificial intelligence deals in fintech and insurtech with 48% of the deals by seed or angel investors; other highlights include $14.9 billion in equity funding from 2,250 deals since 2012, over 200 artificial intelligence acquisitions since 2012 and 11 artificial intelligence acquisitions by Google. Source
There has been a lot of news coming out about SoFi recently; first came the departures of several senior executives; then news of a sexual harassment lawsuit came in August; now CEO Mike Cagney is stepping down as CEO from the company by the end of the year, having already stepped down as Chairman; in a letter sent to employees Cagney wrote, “The combination of HR-related litigation and negative press have become a distraction from the company’s core mission. I want SoFi to focus on helping members, hiring the best people, and growing our company in a way consistent with our values. That can’t happen as well as it should if people are focused on me, which isn’t fair to our members, investors, or you.” Source
The Lend Academy P2P Forum has been down since late May. This has been due to the web hosting company...
The round was led by Cometa and with the new capital, Quinio seeks to scale the businesses of 30 companies in digital channels
There’s a segment of the population who wish credit cards would go away, and they jump on any negative change in the credit card market as evidence of the decline and impending death of credit cards. It’s just not realistic thinking.
Investors in TransferWise, the money transfer service include Richard Branson, Peter Thiel and Max Levchin; according to sources the company...
It has been fascinating to watch both the banks and fintechs react to the coronavirus; many fintechs have created side...
Creditas aims to reach breakeven in 2023. It has reduced losses for five straight quarters and is repricing the portfolio with higher rates.