CB Insights

SEPTEMBER 1, 2020

The 2020 Fintech 250 cohort has raised approximately $49.2B 2020 Fintech 250 investment highlights. The 2020 Fintech 250 categories and most well-funded startups represented. 2020 fintech 250 investment highlights. Funding trends: In 2020 year-to-date (YTD), these 250 private companies have raised $10.3B

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Gonzobanker

JANUARY 17, 2020

Well GonzoBankers, the gang is back to work and we are all headed face-first into 2020 – a year with more uncertainty than most about how things will turn out. So, to get your Gonzo executive brains warmed up for a new year, I offer you 20 important banking realities for 2020 to guide your strategic execution efforts: 1.

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Independent Banker

OCTOBER 31, 2021

Offering digital lending isn’t about the bells and whistles. First State Bank & Trust in Williston, N.D., started developing its digital lending platform about three years ago—and the bank is really glad it did. “I’m Chris Jundt, First State Bank & Trust. Community bankers tell us why.

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Abrigo

MARCH 15, 2022

They see that allowing members or customers to quickly open and fund accounts online: Creates a bridge to new commercial and consumer relationships and Offers a moat around existing relationships to protect them from competition Online account opening more than doubled at most banks between 2019 and 2020, according to the ABA Banking Journal.

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Online Lending Survey Digital Banking 195

PYMNTS

JANUARY 18, 2021

Last week, Grab announced that its Grab Financial Group had raised $300 million in a Series A funding round led by Hanwha Asset Management and joined by K3 Ventures , GGV Capital , Arbor Ventures and Flourish Ventures. Last month, Grab and Singtel announced they had received a license to set up a digital bank in Singapore.

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PYMNTS

JUNE 30, 2020

challenger bank Allica Bank has launched using Profile Software ‘s banking programs in order to ensure small- to medium-sized business (SMB) customers a way to manage their banking and risk operations, according to a press release. Allica Bank will use Profile’s FMS.next as its core banking platform.

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Bank Innovation

FEBRUARY 21, 2020

In this episode, editors discuss the following news developments: Implications from LendingClub’s acquisition of Radius Bank; How Ally’s acquisition of the non-prime lender CardWorks boosts the bank’s long-term plans; and The launch of digital banking startup Level […].

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PopularBank

SEPTEMBER 23, 2020

Joseph Culotta Brings More Than 18 Years of Leadership and Wealth Management Expertise to Popular Bank. NEW YORK, NY – September 15, 2020 – Popular Bank , a subsidiary of Popular, Inc. We are thrilled to welcome Joe to our Wealth Management leadership team to head our Popular Investments business,” said Ford. “We

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Management Leadership New York New Jersey 52

PYMNTS

JANUARY 21, 2021

Stats from banks, pretty much across the board, have given evidence that consumers have been pivoting to their mobile devices to attend to their everyday financial needs. In just a few recent examples: Bank of America said this past week that active mobile banking users rose 6 percent to 30.8 million during the quarter.

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PYMNTS

FEBRUARY 24, 2020

The move also means that, as LendingClub had applied for bank charters in the past (with the Office of the Comptroller of the Currency), it decided to buy its way into deposits and checking. PYMNTS (@pymnts) February 21, 2020. Radius Bank is not in the lending market, but has $1.4 billion worth of loans.

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PYMNTS

JULY 27, 2020

Financial institutions (FIs) are still struggling to respond to the rise in digital banking adoption spurred by the pandemic. The increase in digital banking use has also breathed new life into the discussions surrounding the technology FIs are employing to make sure they can offer this level of support. banking industry.

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PYMNTS

JULY 7, 2020

The Peoples Community Bank is broadening its existing relationship with banking technology provider Finastra , the firms revealed this week in a press release , with the financial institution (FI) looking to accelerate its own innovation and product rollouts. payment schemes.

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CB Insights

DECEMBER 10, 2020

Bank of America, for one, saw profits drop 16% year-over-year (YoY) in Q3’20 to $4.9B. The pandemic has also accelerated recent trends in banking, especially among the millennial demographic, which tends to favor digital banking and online brands over traditional banks. Consumer deposits & savings.

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PYMNTS

DECEMBER 28, 2020

Chinese financial regulators are moving to check the influence of Jack Ma’s Ant Group by instructing it to switch focus back to its payment business while remedying problems in wealth management, personal lending and more. Ant’s much-awaited double initial public offering (IPO) was nixed earlier in 2020 by the government.

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PYMNTS

AUGUST 13, 2018

David Chubak, head of global retail banking and mortgage, will be in charge of the global-branded cards and the consumer lending business, reported CNBC. Anand Selvakesari, who is the current head of the consumer banking in Asia-Pacific, will become head of U.S. billion by 2020.

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PYMNTS

APRIL 6, 2020

JPMorgan, the country’s largest bank by assets, is in a solid position to grapple with the financial fallout caused by the pandemic, he said. He added that the Fed could do more, such as “including additional lending facilities and relaxing capital and liquidity requirements to boost the system if needed.”. trillion a year.

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PYMNTS

JANUARY 15, 2021

Morgan Chase, Citigroup and Wells Fargo showed the pandemic’s impact on critical lending and spending, and of course debt repayment, may not have been as bad as had been feared in the dark days of Spring 2020. billion, and managed to earn $2.08, where analysts had expected $1.34. The Great Digital Pivot .

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Gonzobanker

FEBRUARY 11, 2021

But some things do change, and according to Cornerstone Advisors’ 2021 What’s Going On In Banking study, the change in three priorities signal a shift in how FIs are managing technology: 1. A few institutions indicated they’ll roll out new treasury management services in 2021. Increasing revenue generation opportunities.

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PYMNTS

DECEMBER 9, 2020

But fast-forward to 2020, and the world is a very different place. Lukies said the balance of regulatory trust has altered, ushering in a wave of regulations like open banking , PSD2 and GDPR. Moreover, noted Lukies, they can offer these now competitive services “riding over the rails that used to be exclusively owned by the bank.”.

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Fintech Labs Insights

NOVEMBER 10, 2023

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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PYMNTS

SEPTEMBER 18, 2020

ClearBank, a cloud-based clearing bank, has started to provide multicurrency bank accounts via an API. The financial institution will let users access more than 30 multicurrency accounts starting in Q4 2020. Facebook's Libra Hires HSBC Veteran as Managing Director. Mortgage Lender LoanDepot Looks Toward $15B IPO.

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California Payments Management Retail 142

PopularBank

JANUARY 27, 2020

New York, NY – January 27, 2020 – Popular Bank, a subsidiary of Popular, Inc. Nasdaq: BPOP) announced today that it has received the Banking Development District (BDD) designation from the New York State Department of Financial Services (DFS) for Popular Bank’s 1620 Pitkin Avenue Branch. Our Community Commitment.

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New York Community New Jersey Houston 91

PYMNTS

APRIL 21, 2020

As Verdon told Webster, embracing platforms such as the one offered by Railsbank — which enables companies to issue unique international bank account numbers (IBANs), receive and send money and issue and manage cards — means that banking becomes a service rather than a series or suite of separate products.

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Gonzobanker

MAY 4, 2020

As Cornerstone Managing Director Brad Smith put it, this deal might not get the coverage of Visa/Plaid, but it should, because Galileo is like a mashup of Plaid and Q2’s CorePro if CorePro was extended to payments, lending and investments. Unnamed Industry Heavy, March 2020. TechCrunch, April 2020. SoFi/Galileo: This $1.2

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Fintech FDIC Capital Community Bank 109

Banking 2020

APRIL 28, 2015

Digital banks are no longer in the ‘money’ business but rather, in the ‘value’ business. Unlike in the past, when more than two products from one bank made a customer loyal, customer behavior is fleeting and their expectations for digital banking is increasing every day, because technology is giving them numerous choices and control.

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Customer Experience Digital Banking social media Millennials 40

PYMNTS

NOVEMBER 27, 2019

When it comes to a country such as the UAE, demographics can play a role on that — some 80 percent of the population is made up of expats, and they don’t always have the best luck in navigating the local financial, banking and regulation landscape. New Venture. The new venture, E20, is geared toward entrepreneurs and SMBs. More Improvements.

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PYMNTS

NOVEMBER 23, 2020

Small and medium-sized businesses (SMBs) got their clocks cleaned by the pandemic, and turning to their traditional lending sources, they’ve encountered sclerotic systems and outdated policies not conceived for the needs of the recovering Main Street merchants of 2021. Meanwhile, for many, their primary banking relationships went fallow.

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Fintech Labs Insights

OCTOBER 13, 2020

Description: Alternative credit scoring and lending in emerging markets. Description: Digital banking and spend management platform for global NGOs. Founded: Jan 2020. Description: Digital wealth manager connecting Africans to U.S. Founded: Oct 2019 (Product launch: Jan 2020). Founded: 2020.

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CB Insights

FEBRUARY 20, 2020

In 2018, companies from 31 countries and 19 categories — spanning payments, digital banking, insurance, and more — made it onto the CB Insights 2018 Fintech 250 list. Two of these unicorns have already exited: Plaid was acquired by Visa in January 2020, and Bill.com held an IPO in December 2019. Click to enlarge. .

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CB Insights

SEPTEMBER 10, 2020

Our recent webinar — The State of Fintech Q2 2020: Funding Rebound Reveals the Next Leg of Fintech Innovation — highlighted key fintech trends and deals from the second quarter of 2020, including the rise of embedded fintech applications and demand for digital banking services. Free Download: State of Fintech q2’20.

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Fintech Labs Insights

AUGUST 26, 2020

Stripe (YC 2009) is the most valuable private fintech company outside of China ( see full fintech unicorn list ), valued at $36B in its April 2020 round Coinbase (YC 2012) is the 9th most valuable fintech (outside of China), valued at $8B in its last round (Oct 2018), but most likely above $10B now. Summer 2020 YC Fintech Startups.

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PYMNTS

MARCH 15, 2019

As reported in The New York Times and elsewhere, the extension may be voted on by Parliament to last a few months, or it may go toward the end of 2020. That speaks to some long-term expectations that digital banking and other “sea changes” will continue in financial services (and maybe hasten changes within the U.K.),

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PYMNTS

MARCH 15, 2019

As reported in The New York Times and elsewhere, the extension may be voted on by Parliament to last a few months, or it may be go toward the end of 2020. Thus: The ability for consumers to cover bills more easily, or for companies to manage working capital more efficiently.

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Apple social media Fintech Lending 101

FICO

AUGUST 19, 2022

who consider a digital bank (like Chime, Cash App, or PayPal) to be their primary checking account provider has more than doubled since 2020. This makes BNPL a dangerous competitor to banks’ payment and unsecured lending products. Niche Neobanks.

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Fintech Millennials Lending Tools 52

CB Insights

AUGUST 26, 2021

In the fiscal year ending March 2020, SoftBank disclosed a loss of nearly $18B from its Vision Fund 1, with almost $10B in losses coming from WeWork and Uber alone. Konfio , for instance, provides business credit and lending. Digital banking. But SoftBank has wasted no time in seeking returns elsewhere. . Enterprise.

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Regional Fintech Analysis Company 94

Gonzobanker

DECEMBER 17, 2021

Bank Deal of the Year. It was a cray cray year for mergers and acquisitions (M&As) in 2021 coming out of COVID slowdown in 2020. With prices rational and revenue pinched, there were some nice acquisitions by many banks. Bancorp for grabbing MUFG Union Bank. Congrats to Randy and a great management team.

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PYMNTS

FEBRUARY 21, 2019

The bourgeoning challenger bank community in the U.K. AlbaCo is one FinTech hoping to emerge as an as-of-yet-unnamed challenger bank in 2020, according to Iain McBride, the company’s current program director and upcoming operations director (once the bank goes live). wants to challenge that signal, though.

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