Blockchain-based money transfer platform Circle has secured $25mn from Digital Currency Group; the firm also struck a partnership with Genesis,...
Citizens Bank of Edmond Oklahoma is a one branch bank who has begun turning their extra space into a co working space for business clients; the space is now called Vault 405 and includes wireless charging stations, conference rooms and a podcast studio; CEO Jill Castilla tells Tearsheet, “The office space will be just as beneficial to the bank beyond loans and deposits, it’ll make us a better small business.”; this isn’t the banks first foray into innovation as they were ahead of their time on social media, video teller machines and mobile payments. Source.
First Trust has filed a Form D with the Securities and Exchange Commission for a pooled fund that will include marketplace lending securities under the name First Trust Marketplace Lending Partners, L.P.; minimum investment in the fund is $50,000; firm offers a range of investment funds including many funds with an income focused investment strategy. Source
Stripe has garnered the top spot on CNBC’s 2020 Disruptor 50 list as the fintech has seen big success through...
SoFi has received preliminary ratings from Kroll Bond Rating Agency for a securitization portfolio including prime jumbo residential mortgage loans; the securitization includes 36 classes with 270 mortgage loans; 31 classes are rated AAA; the remaining classes are rated AA to B with one unrated class accounting for $1 million of the portfolio; the portfolio includes high quality mortgage loans with a comprehensive weighted average credit score of 777; the total principal balance of the portfolio is $168,790,946. Source
Fintech startup Earnest has expanded their product offering to in school loan offerings; David Green, Chief Product Officer, Earnest tells...
With finance being one of the most heavily regulated parts of the economy and U.S. regulators haven taken a greater...
Payments company Venmo has grown significantly from its founding by Iqram Magdon-Ismail and Andrew Kortina; it was acquired for $26 million by payment processor Braintree and is now owned by PayPal after an $800 million acquisition in 2013; through acquisitions the firm's payment processes have evolved; in 2016 the firm transacted $18 billion; now as a PayPal company it has been plugged into PayPal's compliance infrastructure for tracking fraudulent payments and settlements; as a PayPal company it has also been able to offer new services and its executive team has been integrated with PayPal helping the company to develop new market positioning. Source
JPMorgan Chase co-COO Gordon Smith spoke at a conference hosted by Bernstein Strategic Decisions Conference where he discussed the bank’s...