Fintech startup Dave began rolling out their new bank account in May to a waiting list of two million people;...
Kabbage has announced the pricing of its first securitization of the year; the portfolio was valued at $525 million and includes small business loans; it is structured in four classes and has received ratings from Kroll Bond Rating Agency with the majority of the portfolio rated A; the deal is expected to close around March 20. Source
The Federal Reserve increased its federal funds rate by 0.25% following its March Federal Open Market Committee meeting; the rate is now at 0.75% to 1.00%; the Fed also alluded to plans for two more rate increases in 2017. Source
US online lender Affirm has announced its 1 millionth consumer installment loan; the platform works with Cross River Bank for loan originations and partners with retailers to offer its credit financing solution; the firm is managed by Pay Pal co-founder Max Levchin and has also announced it will be moving its San Francisco headquarters to 650 California Street with 86,225 square feet of office space for the growing company. Source
The New York Interactive Advertising Exchange has partnered with Nasdaq to create NYIAX, a blockchain trading platform for digital advertising contracts; Nasdaq has supported the system with its trading and blockchain technology; through the system publishers and advertisers can buy, sell and re-trade digital advertising as guaranteed contracts; NYIAX says it also plans to expand trading to other advertising markets including TV, print and radio. Source
Fintech companies have found it increasingly hard to work with tier one banks; while most talk openly in private some companies have begun talking publicly about the frustrations; issues the commonly deal with include sense of entitlement, questions about intellectual property, failure to pay and long lead times. Source.
Google will offer a full suite of mobile banking services through new partnerships announced today with eight US-based banks; this...
Sifted shares that women make up around 20% of the total number of fintech executive roles globally; Europe largely lags...
Capital One spent 81 percent more on marketing in Q4 2018 than it did in Q4 2017 and Discover’s marketing...
When the government announced the first tranche of funding for the Paycheck Protection Program (PPP) there was a flood of...