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FinTech LendingClub Buys Radius Bank For $185M

PYMNTS

FinTech LendingClub is purchasing Radius Bancorp for $185 million in cash and stock, according to a report by CNBC. LendingClub provides personal lending online, and it wants access to funding that is more stable and not as expensive. This is the first time a FinTech has purchased an actual bank. billion in assets.

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China Finalizing Laws For Digital-Only BankingĀ 

PYMNTS

China is finalizing its first rules for online-only banks, striving to reduce financial jeopardy and lure pivotal participants, Reuters reported on Monday (Jan. About 12 associations, including foreigners, are working on the new laws with Chinese officials, and some are eager to introduce online banks, a source said.

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Report: Alibabaā€™s Ant Group Plans Hong Kong IPO At $200B+

PYMNTS

Ant Group, the online payment service affiliate of Chinaā€™s Alibaba Group Holding Ltd, is looking to go public as early as this year, Reuters reported. . Ant Group was launched in 2014 to provide global financial services. If the IPO moves ahead, one of the sources said it would be one of the worldā€™s biggest listings this year.

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Top 63 Online Digital Banks for U.S. Consumers (Nov 2023)

Fintech Labs Insights

Consumers have been banking online for 28 years. And from the very beginning, there have been pure-play digital banking startups. The first, online bank Security First Network Bank (SFNB) launched in 1995, just a year after Amazon.com. But unlike ecommerce, digital-only banking was slow to catch on.

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Top News In Payments: China Finalizing Laws For Digital-Only Banking; Mastercard Names New President Of Data And Services

PYMNTS

In todayā€™s top payments news, China is finalizing its rules for online-only banks, Mastercard names Raj Seshadri as its new president of data and services and Visa buys FinTech startup Plaid for $5.3 China Finalizing Laws For Digital-Only Banking. FinTech Play, Wrapped In Plaid. Visa announced its $5.3

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Fintech Hall of Fame: The Top Digital Innovations in Financial Services

Fintech Labs Insights

Long before fintech was a thing (1995), I launched the first, and by most measures the biggest, newsletter during the first two decades of online/digital banking. It was called Online Banking Report and was read by a sizable portion of major industry players. Note: These are the rankings from 10 years ago.

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Stripe Teardown: How The $35B Payments Company Plans To Supercharge Online Retail

CB Insights

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Specifically, the Collisons aimed to more seamlessly connect online businesses and payment processors, allowing more businesses to accept online payments.

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