To help identify FinTech products that may improve the financial health of underserved populations in the U.S., the Financial Solutions Lab (FinLab) launched its fourth annual $3 million challenge. The lab focuses on products that meet the financial needs of overlooked populations, JPMorgan Chase said...
Andrew Bailey, chief executive of the Financial Conduct Authority (FCA), the UK’s financial regulatory watchdog, warned UK banks on Wednesday (Feb. 7) that they shouldn’t use excuses of security concerns to stop FinTechs from accessing customer data. According to a report in Reuters, in January...
In a new financing round led by Valar Ventures, Petal raised $13 million in its mission to make credit cards accessible to those without a good credit history, TechCrunch reports. Petal identifies borrowers who might be good candidates for a credit card but lack an established...
A Democrat has some serious advice for Congress when it comes to FinTech. “If we fail to act on FinTech, we are setting ourselves up for problems down the road,” Rep. Emanuel Cleaver, D-Mo., said in a recent interview reported by American Banker. “Not because...
Mike Cagney, the SoFi founder who was ousted from the company three months ago after allegations of sexual harassment, is already working on his next move. According to Recode, Cagney has recently been approaching investors about a new FinTech startup, looking to raise around $25...
Japanese tech giant SoftBank is leading a $120 million investment round in home insurance startup Lemonade. According to Bloomberg Technology, New York-based Lemonade uses artificial intelligence and bots to minimize paperwork and speed up the claims process for renters and homeowners. The company raised $60...
Revolut, the mobile banking startup, announced Tuesday at TechCrunch’s Disrupt Berlin event that it is combining its traditional banking business with cryptocurrency to enable customers to sell, trade and hold digital currencies including bitcoin, Litecoin and Ether, as well as 25 world fiat currencies. During...
Merely a rotation – or something more? The tech-heavy NASDAQ slipped in its biggest single-day drop in more than three months on Wednesday (Nov. 29), as investors made the leap into banks (and other names), with an eye on firms and their attendant equities, which...
Quant, a FinTech that has backing from movie stars in China, has tapped JPMorgan Chase & Co. and Morgan Stanley to serve as advisors to its initial public offering in the U.S. According to a report in Bloomberg, citing people with knowledge of the matter,...
