Fintech

Hedge Fund Billionaire With Fintech Focus is Buying The New York Mets

December 4, 2019
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Steve Cohen, the hedge fund billionaire behind Point72 Asset Management, is reportedly buying a majority stake in the New York Mets. After a long infamous run at the helm of S.A.C. Capital Advisors, Cohen founded Point72 and with it, an early-stage venture capital fund that focuses on areas like fintech and artificial intelligence. Among the […]

Canadian Lenders Summit Recap

November 23, 2019
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The Canadian Lenders Association’s largest annual event brought together hundreds of executives from the fintech and lending industries. It was hosted at MaRS, a dedicated launchpad for startups in Downtown Toronto that occupies more than 1.5 million square feet and is home to more than 120 tenants, many of which are global tech companies. After […]

Google to Begin Offering Checking Accounts in 2020

November 16, 2019
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This week Google announced that it plans to offer checking accounts to customers in 2020. The news comes after the release of the Apple Card, Apple and Goldman Sach’s controversial joint project, in August; this week’s release of Facebook Pay; and the mass exodus by payments companies from Facebook’s Libra Association last month. Titled as […]

Apple Card Under Investigation by State Financial Regulator

November 14, 2019
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Apple and Goldman Sachs came under fire this week after numerous users of the Apple Card, a joint venture by the two companies, took to social media claiming that the algorithm used to determine credit limits discriminated against women. It began when Danish tech entrepreneur and racecar driver David Heinemeier Hansson wrote up an expletive-laden […]

2019 Top 25 Executive Leaders in Lending – Canadian Lenders Association – Presented By BMO

November 11, 2019
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The Canadian Lenders Assocation (CLA) received 124 nominations for these awards from leaders in lending across the country. The CLA’s goal is to support access to credit in the Canadian marketplace and champion the companies and entrepreneurs who are leading innovations in this industry. The Top 25 finalists in this report represent various innovations in […]

Canadian Lender’s Association Awards Leading Executives and Companies

November 11, 2019
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cla leaders

Today the CLA announced the winners for its 2019 Leaders in Lending Awards. Highlighting the efforts of exceptional players within the fintech and alternative finance fields, the awards seek to “celebrate the industry and celebrate all the cool fintech things happening in Canada,” according to the CLA’s Strategic Partnerships Director Tal Schwartz. Now in its […]

2019 Top 25 Company Leaders in Lending – Canadian Lenders Association – Presented By BMO

November 11, 2019
Article by:

cla leaders

The Canadian Lenders Assocation (CLA) received 124 nominations for these awards from leaders in lending across the country. The CLA’s goal is to support access to credit in the Canadian marketplace and champion the companies and entrepreneurs who are leading innovations in this industry. The Top 25 finalists in this report represent various innovations in […]

Lendio Says There’s Been a Strong Uptake Of Sunrise

November 6, 2019
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Brock Blake Lendio

Last week Lendio announced that its bookkeeping and invoicing service, Sunrise, had partnered with WePay, an integrated payments business of JPMorgan Chase, to form the freemium product Sunrise Pay. Stemming from an acquisition in Q1 of this year, Sunrise, formerly Billy, was picked up by Lendio after the company realized many of its customers who […]

Lenders, Leaders, and Las Vegas: Money20/20 Review

November 3, 2019
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money2020

Two things arrived in Las Vegas last month: the first being an unusual dip in local weather, with temperatures dropping to the low forties at times and woolen hats making an appearance; the second being Money20/20. Now in its seventh year, the conference runs smoothly to the point of being habitual, a trait several attendees […]

BlueVine to Enter Banking in 2020

October 28, 2019
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Eyal Lifshitz of BlueVine

BlueVine Capital, the Redwood City-based alternative funder, has announced today that it will launch its BlueVine Business Banking product in 2020, which will offer checking accounts that come with debit Mastercards, checks, and ATM access exclusively to small businesses. And just like many of the new competitors in the banking space, BlueVine Business Banking will […]

Is The Definition Of Accredited Investor Ripe For Change?

October 26, 2019
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Accredited Investor

This story appeared in deBanked’s Sept/Oct 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE The definition of accredited investor, which the SEC is tackling this year, is causing a fair amount of debate. At issue is the fact that under federal securities laws only persons who are accredited investors may participate in certain […]

LendIt China 2019 is Canceled

October 23, 2019
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shanghai

LendIt Fintech has officially announced that there will be no conference in China this year after 3 long years in the country. A blog post written by LendIt Fintech co-founder Peter Renton explained that calamitous events engulfing the peer-to-peer lending industry there, namely the abundance of fraud, and the government’s waning tolerance, has led them […]

Federal Judge Rules New York’s “Win” Against OCC’s Fintech Charter Nullifies The Fintech Charter Concept Entirely

October 21, 2019
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OCC Seal

The Office of the Comptroller of The Currency took a gamble with a federal judge in a lawsuit brought by the New York Department of Financial Services (DFS) and lost. On Monday, Judge Victor Marrero ruled that the OCC must “set aside” its special purpose (fintech) national bank charters entirely, not just for those with […]

Salaries For All, Even For Gig Workers

October 16, 2019
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Trezeo

“If we don’t solve the problems, there’s just a nightmare coming.” This is how Trezeo’s CEO and Co-founder Garrett Cassidy views the work that he and his company are doing. Created in 2016 with the aim to provide support to self-employed people via income smoothing, Trezeo offers workers whose income streams may be irregular the […]

A Tough Neighborhood: Ashton Kutcher-Backed Startup Can’t Pay Employees

October 9, 2019
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neighborly

Neighborly, a San Francisco-based startup backed by Kutcher, announced yesterday that it won’t be able to pay its employees for the foreseeable future. In an internal memo that was viewed by Bloomberg, the decision to cut pay was described as “needed” due to the company’s current phase of change it is experiencing as it pivots […]

To Niche or Not to Niche, That Is the Fintech Question

October 1, 2019

fintech

A store that sells only cufflinks. A restaurant that serves nothing but grilled cheese sandwiches. A tiny stand where you buy only artisanal salt. In the not-too-distant past, these kinds of shopping and dining options were almost unheard of. Readers of a certain age will remember that if you wanted cufflinks, you went to an […]

New SoFi Stadium To Host Rams, Chargers, Super Bowl & Olympics

September 15, 2019
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SoFi Stadium

SoFi’s appetite to reach NFL viewers is going above and beyond just Super Bowl commercials. The fintech company that started with student loan refinancing, has secured the naming rights to a new professional football stadium in Inglewood, California. SoFi Stadium, which opens in 2020, will host both the Rams and the Chargers. The stadium will […]

PNC Bank Launches Fintech Startup numo

September 3, 2019
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pnc bank

Last week, PNC Bank announced its latest venture, numo, which aims to function as an internal startup, developing apps and other services to expand PNC’s operations. The first such app is indi, a bank account for gig workers that is exclusive to mobile phones. Offering customers tax calculators, tax savings goals, and dynamics adjustments that […]

Apple Card Partnership Sees Goldman Sachs Lending to Subprime Borrowers

August 25, 2019
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apple card

Apple Card launched this month, and with it have come some complaints over the unforeseen damage that wallets can do as well as an official guide from Apple on how to tend to and clean your new credit card. But aside from aesthetic and hygienic concerns, the card’s release to the wider public has raised eyebrows with […]

LendingPoint Places Seventeenth on Inc. 5000

August 14, 2019
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LendingPoint

Today Inc. 5000 released is 2019 list of the fastest growing private companies in America, featuring alternative finance company LendingPoint in seventeenth place after it witnessed a three-year revenue growth of 9,265%. LendingPoint offers consumer loans of up $25,000 and provides financing to merchants, service providers, and medical institutions via its LendingPoint Merchant Solutions program. This is […]