Fintech

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

October 9, 2019
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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

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’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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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 […]

Canada Fintech Week Launches in Toronto

August 12, 2019
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Toronto Canada

This week sees the first ever Canada Fintech Week (CFW) in Toronto. Running from August 12th to the 15th, the four-day celebration of everything fintech in Canada features a slew of events and panels for those in the industry. Ranging from how to incorporate blockchain technology in Holocaust asset recovery to cybersecurity, to the future […]

Import/Export SMBs Introduced to Fintech Lending Options

August 2, 2019
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Early this week TangoTrade announced its partnership with the online lender Fundation. TangoTrade, which deals primarily in payment assurances for US small business importers and exporters, will now offer alternative financing to SMBs with the help of Fundation. The development is a reaction to the struggles faced by small businesses who engage in global trade. Sam […]

Chinese Funder MYBank Using Advanced Tech to Provide Capital

August 1, 2019
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social credit china

MYBank, the largest non-bank funder in China, is using new technological systems to approve loan applicants. The company, which is backed by Alibaba founder, second richest person in China, and former English teacher Jack Ma, is now in its fourth year of operations and has thus far provided 2 trillion yuan ($290 billion) in funding […]

Maria Vullo Joins Emigrant Bank

July 31, 2019
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Maria Vullo, who served as the Superintendent of New York’s Department of Financial Services (NYDFS) from 2016 to February 2019, has been elected to Emigrant Bank’s Board of Directors. As well as this, Vullo will be joining Emigrant’s holding company, New York Private Bank & Trust (NYPB&T). The move comes five months after the end […]

Ken Rees, CEO of Elevate, Resigns

July 30, 2019
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Ken Rees, the CEO of consumer lending company Elevate, resigned on Monday. The announcement coincided with the release of the company’s Q2 financials in which Rees described the business as performing “extremely well.” Thus far, in 2019, we have already delivered over $19 million in net income or $0.43 per fully diluted share. We are […]

“Try Being Bored”: Amanda Parker’s Ascent To Top FinTech Recognition

July 19, 2019
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top women

“Fantastic and surprising” is how Amanda Parker, the Director of Innovation at FundThrough, described being selected as one of Canada’s Top 50 Women in FinTech last week. The list, produced by the Digital Finance Institute, aims to highlight those women whose contributions to and leadership in the FinTech industry have been influential. Among those who Parker […]

Canadian Lenders Association to Host Open Banking Summit on July 10th

June 27, 2019
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Open Banking Summit

The Canadian Lenders Association will be hosting its Open Banking Summit on July 10th at Dentons Toronto. It begins at 8am and ends at 11am. This is the third in their event series, and will tackle topics in Open Banking and Big Data in Canada. They will discuss how the industry can best work toward […]

Are The Bankers Taking Over Fintech?

June 27, 2019
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bankers in fintech

This story appeared in deBanked’s May/June 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE For Rochelle Gorey, the chief executive and co-founder of SpringFour, a “social impact” fintech company, mingling with industry movers and shakers at this year’s LendIt Fintech Conference was just what the doctor ordered. “I went mainly for the networking […]

Ocrolus Secures $24M in Series B

June 26, 2019
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Sam Bobley Ocrolus

A fresh logo and new company jumpers aren’t the only recent additions to the Ocrolus offices this month, as the business has secured $24 million in Series B funding. This development marks the $33 million point in investments for the automation platform. Led by Oak HC/FT, and backed by FinTech Collective, Bullpen Capital, QED Investors, […]

As New Regulations Sweep The Industry, Find Out Where The Next Big Opportunities Are

June 25, 2019
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what's next

Change is coming to the small business finance industry. Are new opportunities on the horizon? Be sure to find out when you attend one or both of these two great upcoming events! deBanked CONNECT Toronto | July 25, 2019 Less Than 30 Days Left! Tap into the vast opportunities in Canada. Meet the players, learn […]

Senator Elizabeth Warren Questions Federal Agencies About Discrimination in Fintech Lending

June 12, 2019
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Elizabeth Warren

Senator Elizabeth Warren and colleague Senator Doug Jones (D-AL) addressed a letter to multiple federal agencies this week to inquire about their individual roles in overseeing fintech, particularly as it pertains to potential discriminatory underwriting. The senators cited a UC Berkeley study that examined discrimination in the era of algorithmic underwriting. “With algorithmic credit scoring,” […]

CLA’s Credit Invisibles Event Kicks Off

June 5, 2019
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credit invisibles

The Canadian Lenders Association event kicks off today in Toronto. Hosted by Perc Canada and TransUnion at Blake, Cassels & Graydon LLP, this is the second in the series on “Credit Invisibles” and “Credit Deserts.” The CLA’s purpose is to support the growth of companies that are in the business of lending, or providing other […]

CFA Report Shows Increase in US Factoring Volume

May 30, 2019
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cfa chart

The Commercial Finance Association (CFA) recently published a report on asset-based lending and factoring which showed a 10.4 % increase in domestic factoring volume in 2018 compared to 2017. While the increase isn’t enormous, it is consistent with a gradual growth in factoring, according to Jeff Goldrich, CEO at Princeton, NJ-based North Mill Capital, which […]

Canadian Alternative Finance Event Calendar

May 28, 2019
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credit invisibles

Here’s what’s on the agenda this Summer for the Canadian alternative finance industry: June 5th Credit Invisibles Summit – Presented by the Canadian Lenders Association July 25th deBanked CONNECT Toronto – Presented by deBanked