Fintech

Views from the Small Business Finance Industry, March 27

March 27, 2020
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As the coronavirus pandemic continues to disrupt the economy and affect small businesses as well as funders, deBanked will keep up with how various figures from the alternative finance sector are managing under the stresses of covid-19. Ranging from funders, to brokers, to those figures on the periphery of the industry, this series aims to […]

Can The SBA Handle The Stimulus On Their Own?

March 27, 2020
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As the market cheers the upcoming passage of a $2 Trillion stimulus bill that is intended to provide much needed support to small businesses, industry insiders are beginning to raise concerns about the SBA’s infrastructural ability to process applications in a timely manner. In a webinar hosted by LendIt Fintech yesterday, Opportunity Fund CEO Luz […]

Canadian Lenders Association Announces Creation of Covid-19 Working Group

March 20, 2020
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The Canadian Lenders Association has announced its establishment of a covid-19 working group to support its members’ response against the coronavirus. The group will act as an advisory committee and resource for CLA members, while also serving as a lobbyist group to various government entities. “We presently are in an unprecedented period in Canadian business,” […]

2020 and Beyond – A Look Ahead

March 3, 2020
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This story appeared in deBanked’s Jan/Feb 2020 magazine issue. To receive copies in print, SUBSCRIBE FREE With the doors to 2019 firmly closed, alternative financing industry executives are excited about the new decade and the prospects that lie ahead. There are new products to showcase, new competitors to contend with and new customers to pursue […]

Intuit Agrees to Buy Credit Karma For $7.1 Billion

February 26, 2020
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Credit Karma

This week the news broke that a deal had been reached between Credit Karma and Intuit that will see the latter purchase Credit Karma for $7.1 billion, paid for with cash and stock. After rumors of the deal leaked over the weekend, the agreement was confirmed on Monday by chief executives from both companies. Under […]

LendingClub Becomes First Fintech Lender to Buy a Bank

February 19, 2020
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Scott Sanborn, Lending Club CEO

Today LendingClub announced that it has agreed to acquire Boston-based Radius Bank for a purchase price of $185 million, made up by cash and stock. Holding more than $1.4 billion in assets, the merger will enable LendingClub to offer checking accounts and save millions in bank fees and funding costs each year. Coming one month […]

The Fintech Legal Outlook for 2020: Top 3 Insights from Todd Hamblet

February 18, 2020
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Todd Hamblet - Fundbox

We recently sat down with ​Todd Hamblet, Fundbox’s new Chief Legal Officer​, and asked his thoughts about what legislative or legal issues would be shaping the fintech industry this year. Between presidents and precedents, decisions are coming down within the next 12 months that will have a significant effect on the way Fundbox and other […]

N26 Exits UK Market Citing Brexit as Reason

February 13, 2020
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N26

The challenger bank N26 pulled out of the UK market this week, citing Brexit as the reason for its departure. Saying that it will no longer be able to service Britain now that it has left the European Union, N26 has stopped onboarding new customers and will be closing all British accounts on April 15th. […]

Varo Receives FDIC Approval for Bank Charter

February 12, 2020
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Colin Walsh Varo

Varo Money, the company that has been providing customers with app-based banking since 2017, has just received approval from the FDIC to take deposits. Having been working towards this for the previous three years through various rounds of applications to the FDIC, Varo CEO Colin Walsh told CNBC that “it was a long process – […]

Ocrolus Partners with Kiva to Provide Funding and Publish its Customers’ Stories

February 6, 2020
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Ocrolus

Ocrolus has announced a partnership with Kiva, the Californian non-profit that provides loans to entrepreneurs in countries underserved by funding options. The deal comes after news of Ocrolus’s partnership with Plaid in December, a venture that helped launch the Ocrolus+ platform. As part of Kiva’s work to help global small business owners, it publishes the […]

Open Banking: Canada Might Not Be Able to Make Up for Lost Time

January 22, 2020
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open banking

Over the last two years, open banking has become a matter of public conversation in Canada. Most would agree there is overwhelming support for the implementation of an open banking regime. So why has nothing concrete happened yet? 2019 turned out to be an exciting, yet painfully underwhelming year for open banking in Canada. The […]

Visa Acquires Plaid in $5.3 Billion Deal

January 14, 2020
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visa plaid

Yesterday it was announced that Visa and Plaid, the financial services company that helps business connect with customers’ bank accounts, have penned a deal that would see Visa purchase the San Francisco-based startup for $5.3 billion. The purchase price is roughly double Plaid’s previous valuation of $2.7 billion after its 2018 Series C investment of […]

deBanked’s Top Ten Things of 2019

December 20, 2019
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deBanked's Top Ten Things of 2019

In this video, I break down deBanked’s Top Ten Things of 2019. Happy holidays and have a Happy New Year from all of us at deBanked! Re-read the top ten stories of 2018 HERE.

Ocrolus Announces Premium Fintech Platform, Ocrolus+ at New York City Event

December 12, 2019
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Ocrolus Event

Last night Ocrolus, the New York-based fintech infrastructure company that specializes in document verification and cash-flow analytics, announced its latest product, the Ocrolus+ platform from Chelsea’s Glasshouses. Following a series of testimonies from companies such as BlueVine, OnDeck, and Enova, Ocrolus’s CEO, Sam Bobley took to the stage to run through what the new platform […]

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

December 4, 2019
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New York Mets

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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Top Canadian Companies of the year

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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G Pay

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 card

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 […]