Payment by bank account is a functionality that has existed for more than a decade in many countries. But it is still a relatively new phenomenon in the U.S.
Yesterday, the SEC announced that it is suing Kraken for operating as an unregistered securities exchange. This follows similar actions in June against the two largest crypto exchanges, Coinbase and Binance.
There have been quite a few fintech startups in recent months that have pivoted to B2B from B2C (Tally, HMBradley, Onyx Private for example), but we haven't seen any fintechs go in the other direction until Mercury announced their personal banking product today.
Yesterday, Apple shared details on Apple Card usage for the first time.
The card was introduced in 2019 and since then it has acquired 12 million users, not a bad effort in less than five years. Users earn Daily Cash rewards when they use the card and Apple reported that the total for 2023 was over $1 billion.
The Wall Street Journal is reporting that Apple has indeed decided to move on from Goldman in roughly 12 to 15 months. This will mean both the Apple Card and the savings account (that was rolled out just a few months ago) will need a new banking partn
Late yesterday, we heard the news that Onfido, a pioneer in ID verification used by banks and fintechs all over the world, is going to be acquired by Entrust, a diversified security and verification company.
The Israel-Palestine conflict rages on, and for many fintech workers in Tel Aviv, life has had to continue through the chaos.
As we hear tell of Mint's demise it becomes clear that the market for personal finance management is evolving beyond just budgeting.
For the past two decades, the investment banking ecosystem in fintech has been dominated by one player: Steve McLaughlin's FT Partners. Now, that is not to say that other investments have not done deals. The really big deals are often done by the likes of Goldman Sachs, Morgan Stanley, or JPMorgan Chase.
By Peter Renton Yesterday, Atomic released an interesting new open banking tool called PayLink. One of the pain points for switching bank accounts...