Fintech Labs Insights

NOVEMBER 10, 2023

Consumers have been banking online for 28 years. The first, online bank Security First Network Bank (SFNB) launched in 1995, just a year after Amazon.com. 197,000 $1,700 2 Robinhood 6080 2013 SF 17,190,000 $6,200 3 SoFi 4017 2011 SF 13,080,000 4.6 The post Top 63 Online Digital Banks for U.S.

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PYMNTS

JANUARY 21, 2019

MarketInvoice, the FinTech, announced on Monday (Jan. In a press release , MarketInvoice said the Series-B funding round was led by Barclays and FinTech fund Santander InnoVentures. According to MarketInvoice , since launching in 2011, the FinTech has funded invoices and business loans to U.K.

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FICO

DECEMBER 13, 2019

The guiding ethos of fintech (and really any industry portmanteau ending in ‘tech’) is move fast and break things. The most prominent villain for fintech companies is regulation. And when fintechs and challenger banks aren’t constrained by regulation (as they mostly are in the U.S. Generally this ethos is presented as a virtue.

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PYMNTS

MAY 27, 2020

CEO Anthony Noto told CNBC’s “Squawk on the Street” that the FinTech company’s investing platform has seen a significant uptick in user numbers since January. Founded in 2011, SoFi made its reputation by refinancing student loans for millennials. Since then, it has expanded its financial products to offer personal and mortgage loans.

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PYMNTS

JANUARY 7, 2021

Online FinTech startup SoFi announced Thursday (Jan. The FinTech IPO Market. 7) that it was merging with publicly-traded Social Capital in an $8.6 billion deal that brings it instant liquidity and avoids the uncertainty of the initial public offering (IPO) process, while leaving it better positioned to take on legacy banks.

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Jeff For Banks

DECEMBER 12, 2015

FinTech, FinTech, FinTech! A banker told me yesterday that if I wanted headlines in American Banker , put FinTech in my copy. So FinTech (six) firms need capital and revenues to grab a foothold in the financial services market. If looking for a FinTech (seven) partner, follow your vendor management procedures.

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PYMNTS

AUGUST 21, 2018

One of the latest signs of that comes this month from Germany, where Hamburg-based Deposit Solutions , a company that launched in 2011 and sells open banking technology, recently announced it had raised $100 million in capital in a round led by Vitruvian Partners, a Munich private equity firm.

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Fintech Labs Insights

FEBRUARY 22, 2022

Since cryptocurrency is such a hot sector, we created a separate offshoot of our Fintech Unicorn list tracking crypto/blockchain startups involved in financial services ( see definitions below ). Related: 281 Fintech Unicorns of the 21st Century (Feb 2022). crypto exchange, lender, accounting, blockchain infrastructure, and so on ).

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Fintech Bitcoin blockchain Lending 15

PYMNTS

MARCH 22, 2018

Founded in 2011, Sift Science plans to use this latest round of funding to grow its fraud detection and prevention product globally. Our customers, who span the spectrum from top FinTech innovators to Global Fortune 500 institutions, have validated this view by partnering with us to solve extremely hard problems.”.

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Fraud Atlanta Capital Big Data 108

Celent Banking

NOVEMBER 17, 2015

The lack of “just right” solutions for many small business financial problems has been a golden opportunity for FinTech firms. In the FinTech space, much of the focus is on consumer-oriented solutions like Mint for financial management, Venmo for P2P payments, and Prosper for social lending.

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Report FDIC Lending Fintech 100

Fintech Labs Insights

FEBRUARY 2, 2021

At FintechLIVE we maintain a list of 21st-century fintech unicorns* updated monthly (full list here ). It is the 7th fintech unicorn based in India, and the 4th most valuable. It’s currently tied for 96th most valuable across all fintech, and 36th most valuable payments company. Full Fintech Unicorn List. 2-feb-2021.

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United States Fintech Utah Lending 15

PYMNTS

FEBRUARY 27, 2020

Uber , Lyft , Fiverr , Airbnb , Postmates were the early names in the game, all founded between 2009 and 2011. Walmart is now over a year into a partnership with Even , a FinTech startup that allows workers at its partner firms to claim a section of their earned wages before payday. Some lasted; some did not.

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Fintech Labs Insights

MAY 12, 2021

Bank of Montreal online mortgage app circa Jan 1998 (via Internet archive). It’s telling that Apply by Phone/Fax were more prominent than Apply Online. files over the weekend, I ran across an Online Banking Report article I wrote in 1997 about Bank of Montreal’s pioneering online mortgage application. Visitors (Apr21).

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Fintech Labs Insights

SEPTEMBER 21, 2020

The UK-based independent fintech industry group attracted 100 entries resulting in 22 finalists across 8 categories, 8 category winners and one overall champion. Founded: 2011. Payment platform for online businesses and processors. Fintech Startup of the Week: Challenger Jiko Buys a $100M U.S. Digital Assets. HQ: London.

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Innovation Fintech blockchain Capital 15

American Banker

JULY 13, 2016

Future of banking: In fintech, as in life, it all comes full circle. The Wall Street Journal published a lengthy profile Tuesday of online lender Social Finance, which has made $10 billion in loans, including student loans, since 2011. Receiving Wide Coverage. The company has reportedly been in discussions with Utah…

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Utah Fintech Online Report 28

Fintech Labs Insights

AUGUST 12, 2014

Fintech (note 1) has been part of YC from the beginning. The first class (Summer 2005) included one fintech startup, TextPayMe, among the eight companies. But as YC grew from 2005 to 2009, the number of fintech companies stayed at roughly 1 per year. You are almost guaranteed a multi-million funding. During the past 4.5

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Fintech Bitcoin Cards Online 26

Jeff For Banks

MARCH 3, 2018

More talk about fintech, dinosaur bankers, and flavors of the month. When I wrote that post in January 2011 there were 7,700 FDIC insured financial institutions. Online book stores. In 1998, they decided "why don't we sell everything online?" or Idea Killers? But their animation caught my attention. Much to my chagrin.

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Apple Millennials Massachusetts FDIC 65

CB Insights

NOVEMBER 6, 2018

The platform enables merchants to accept payments across all channels: in-store, online, or on-the-go. The tech behind Chase Merchant Services (Chase Paymentech) was developed internally — JPM has been granted 95 “payment systems” patents since 2011.

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Payments Strategy Mobile Online 59

Fintech Labs Insights

NOVEMBER 23, 2020

Just out of stealth, Seattle-based fintech startup Secure Save is on the winning side of all these trends. To use the money, the startup provides virtual debit card numbers in its wallet for in-person, phone, or online purchases. Unicorn watch : Who will be the first fintech founded in 2019 or 2020 to become a unicorn?

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Security Fintech Seattle Taxes 15

Fintech Labs Insights

NOVEMBER 4, 2021

Lendio first launched to the public at Finovate in May 2011 (7 minutes). . I first met Lendio when they demo’d on stage at our fourth FinovateSpring back in 2011 (see demo above ). Lendio primarily markets directly to business owners online. Founded: 2011 (though it was originally founded in 2006 as FundingUtah).

Utah 15

Utah Google Cards Lending 15

Celent Banking

MAY 22, 2017

I would encourage anyone interested in this to look at the full video online , but here are some highlights and my takeaways. This is not the first time that Google made interesting announcements around payments – back in 2011, Google Wallet generated a lot of excitment among all of us following mobile payments.

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Google Cards Conference Video 128

PYMNTS

FEBRUARY 28, 2017

In the payments and fintech space, users of Facebook Messenger now have a way to transfer money internationally—via TransferWise chatbot. TransferWise has become one of Europe’s better-known payment firms since breaking on the fintech scene back in 2011. While Facebook already allows its U.S.

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social media Analytics Big Data Comparison 100

PYMNTS

DECEMBER 24, 2020

Considered an online version of a dollar store, ContextLogic looked in many ways like the next Amazon. billion — not bad, but far below what other major online retailers are seeing. Co-founded in 2011 by Facebook veteran Doug Hirsch (now GoodRx’s CEO), the company has operated in the black since 2016. Wish ($17 billion).

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Fintech Labs Insights

NOVEMBER 19, 2021

Bank of Montreal online mortgage app circa Jan 1998 (via Internet archive). It’s telling that Apply by Phone/Fax were more prominent than Apply Online. files over the weekend, I ran across an Online Banking Report article I wrote in 1997 about Bank of Montreal’s pioneering online mortgage application. Biz2Credit.

Atlanta 15

Atlanta Utah Miami DC 15

Fintech Labs Insights

MAY 12, 2021

Bank of Montreal online mortgage app circa Jan 1998 (via Internet archive). It’s telling that Apply by Phone/Fax were more prominent than Apply Online. files over the weekend, I ran across an Online Banking Report article I wrote in 1997 about Bank of Montreal’s pioneering online mortgage application. Visitors (Apr21).

Atlanta 15

Atlanta Utah DC Detroit 15

Fintech Labs Insights

NOVEMBER 19, 2021

Bank of Montreal online mortgage app circa Jan 1998 (via Internet archive). It’s telling that Apply by Phone/Fax were more prominent than Apply Online. files over the weekend, I ran across an Online Banking Report article I wrote in 1997 about Bank of Montreal’s pioneering online mortgage application. Biz2Credit.

Atlanta 15

Atlanta Utah Miami DC 15

Fintech Labs Insights

NOVEMBER 19, 2021

Bank of Montreal online mortgage app circa Jan 1998 (via Internet archive). It’s telling that Apply by Phone/Fax were more prominent than Apply Online. files over the weekend, I ran across an Online Banking Report article I wrote in 1997 about Bank of Montreal’s pioneering online mortgage application. Biz2Credit.

Atlanta 15

Atlanta Utah Miami DC 15

Jeff For Banks

JULY 5, 2022

And products started migrating online. There is a fintech firm, SoFi, that was born in 2011, that focuses on millennials financial needs. This is why online banks can pay higher interest rates. Banks were permitted to branch wherever they wanted. There was deregulation as to products and pricing. billion in total assets.

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Fintech Labs Insights

SEPTEMBER 17, 2015

Then, Ethoca demonstrated how its Alerts help online merchants stop fraud: “Ethoca Alerts is an award winning service used by thousands of ecommerce merchants and online businesses to stop fraud, eliminate chargebacks, and increase acceptance. Product Launch: 2011. There are over 100 employees. HQ: Toronto, ON, Canada.

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Online Austin Fraud Customer Experience 12

Fintech Labs Insights

APRIL 15, 2016

Last night in Amsterdam the 2016 European Fintech Awards celebrated innovators shaping the future of finance. Four of the winners are Finovate and FinDEVr alums, including BehavioSec, who won the overall award of Best European Fintech Company of 2016: BehavioSec. Founded: 2011. HQ: Mechelen, Belgium. AdviceGames.

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Fintech San Francisco Lending Innovation 12

Fintech Labs Insights

MAY 16, 2017

The 50 companies have an aggregate market valuation of $239 billion, and almost 20% of the list consists of fintech companies, six of which are Finovate and/or FinDEVr alums. Launched: 2011. A unique, online lending company that prides itself on social finance. Launched: 2011. Funding: $23.3 Launched: 2005. Funding: $1.9

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New York Analysis Compliance Lending 17

Fintech Labs Insights

MAY 12, 2015

Trulioo’s bank-grade identity verification product, GlobalGateway, enables businesses to perform frictionless online identity verification for more than 38 people in over 40 countries via 140 data sources – the widest coverage in the market. Founded: August 2011. Product distribution strategy: Direct to Business (B2B).

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Fintech Labs Insights

AUGUST 17, 2015

Four out of the top 100 companies are Finovate alums: Kabbage , provides working capital to small businesses online. 2011 revenue: $62,000. WePay , payment technology provider for online platforms and marketplaces. 2011 revenue: $57,000. Prosper , online P2P lending platform. 2011 revenue: $2.2

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Accenture

MAY 22, 2019

It found that from 2011 to 2017, net interest income for digital leaders shifted away from fee income, down 7 percent, to interest net income, up 7 percent, while the rest saw the exact opposite effect with fee income increasing and net income decreasing. Deposits, more than transaction fees, are critical to banks’ economic models.

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CFPB Monitor

OCTOBER 10, 2019

A group of small businesses and their individual owners have filed a putative class action lawsuit in a New York federal district court against online lender Kabbage, Inc. 333, 339 (2011) (FAA preempted California state law prohibiting class action waivers in consumer arbitration provisions). . Concepcion , 563 U.S.

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Independent Banker

NOVEMBER 25, 2015

But now his current role is to focus entirely on developing forward-looking financial retail offerings, including mobile and online banking, card technologies and other emerging channels and devices. “We Rockland Trust launched mobile banking and mobile deposit options in 2011, taking an early lead over many of its largest competitors.

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NCR

AUGUST 21, 2017

Pew Research Center released figures in January 2017 showing that 77 percent of Americans now own a smartphone, up from 35 percent in 2011. Growth of mobile money in China has been aided by the fact that, unlike in the western world, the emergence of Chinese fintechs was not seen as a disruption of the market.

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Mobile ATM National Marketing 81