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. 7,270 $4,100 4 Revolut 3004 2015 London 11,460,000 $1,700 5 Chime 2727 2012 SF 10,710,000 2.6 2 $520 12 Acorns 613 2012 LA 2,170,000 2.3

Digital Banking 15

Digital Banking Online Atlanta Las Vegas 15

Celent Banking

NOVEMBER 17, 2015

Many of the top FinTech companies—Square for card acceptance, Stripe for e-commerce, and Kabbage for business loans, have gained prominence serving primarily small businesses. Online small business lending by direct credit providers has especially taken off. Let’s take a look at data compiled by the FDIC starting in 2010.

Report 100

Report FDIC Lending Fintech 100

PYMNTS

OCTOBER 12, 2018

But for 27 percent of American consumers who are unbanked or underbanked, according to the FDIC , things aren’t nearly as seamless. Loading cash into a PayPal account for use online – for shopping or for paying bills – is now immediately available at all approximate 4,500 Walmart stores (not counting Sam’s Club) nationwide.

ATM 158

ATM FDIC Payments Online 158

PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. The DOJ Finding. lending marketplace.

Lending 135

Lending Fraud Management San Francisco 135