AI fintech Stampli opens Austin office
Payments Dive
AUGUST 29, 2023
The California company extended its presence to a third U.S. city and aims to expand its employee headcount by 40%.
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Payments Dive
AUGUST 29, 2023
The California company extended its presence to a third U.S. city and aims to expand its employee headcount by 40%.
PYMNTS
MARCH 5, 2019
However, lawmakers in California are getting closer to making legislation that would protect small business borrowers using alternative lending platforms, with industry players working with policymakers to make the new rules palatable for everyone. California Governor Jerry Brown signed the bill into law late September.
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BankInovation
JUNE 1, 2022
Automated treasury payments solutions at Banc of California will be powered by Finexio, the companies announced last week. Finexio, an accounts payable fintech with previous buy-in from Mastercard and communications firm Nordis Technologies, received $1 million from Banc of California during a funding round.
BankInovation
JANUARY 10, 2022
To find out what's new on the horizon for fintech, Bank Automation News spoke with Matt Carbonara, managing director for the enterprise practice at fintech incubator and investor Citi Ventures. A division of $2.4
Bank Innovation
JUNE 5, 2019
A fintech incubator called Silicon Fintech Bay is launching in Redwood City, California. CEO Rick Frisbie declined to say what areas the incubator will focus on, but he told Bank Innovation that selected companies will get to work with the program’s partners on problems they’ve identified. “We
CFPB Monitor
MAY 24, 2023
A fintech peer-to-peer lender has entered into separate consent orders with California, Washington D.C., The fintech’s platform offers opportunities for members to act as borrowers or lenders and facilitates loans between its members.
CFPB Monitor
NOVEMBER 2, 2023
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Bank Innovation
DECEMBER 3, 2019
It had to be California. When two Irish brothers started Stripe Inc. together in 2010, there was little question about where they should put their headquarters. Now, though, Stripe is leaving the tech mecca of San Francisco, awash in tech talent and investor cash, and is in the process of moving its main office about 10 […].
PYMNTS
AUGUST 14, 2020
There’s been no shortage of big payments and FinTech announcements over the past few days, such as Apple ’s bundle bet, Goldman Sachs ’ move to bid on the General Motors credit card or Square ’s decision to test small-dollar, short-term loans. Birnbaum noted that many FinTechs benefited from facilitating the U.S.
PYMNTS
AUGUST 11, 2020
Revolut , one of the biggest players in the crowded financial technology (FinTech) sector, has yet to make a profit. Other investors included Menlo Park, California-based TCV and Index Ventures , the global venture capital firm with dual headquarters in San Francisco and London, along with half a dozen others.
CFPB Monitor
JUNE 14, 2023
In its April 2023 Opposition to the California Department of Financial Protection and Innovation (DFPI) motion for preliminary injunction , Opportunity Financial, LLC (OppFi) presents a spirited riposte, drilling down into the DFPI’s fact allegations and legal arguments and asserting “The DFPI is wrong on the law and wrong on the facts.”.
PYMNTS
SEPTEMBER 2, 2020
Checkbook has joined Visa 's FinTech Fast Track program and launched Virtual Cards , a program that will expand the reach of real-time payments, according to a press release. The program launched in 2018 had grown 280 percent at the time, including more than 140 FinTechs around the world.
PYMNTS
FEBRUARY 7, 2020
Also targeting supply chain management is ClearMetal , a California-based company that announced $15 million in new funding led by Eclipse Ventures, with additional backing coming from Prelude Ventures, Innovation Endeavors, NEA, SAP.io, Prologis, PSA Unboxed, DCLI, GT Nexus founders, Navis and Uber Freight. ClearMetal.
CFPB Monitor
JANUARY 12, 2021
The California Consumer Financial Protection Law (CCFPL) became effective on January 1, 2021. The CCFPL gives the California Department of Financial Protection and Innovation (DFPI) (the new name given to the state’s Department of Business Oversight) broad jurisdiction and sweeping new authorities that closely resemble those of the CFPB.
Bank Innovation
DECEMBER 31, 2019
With the start of the new year, banks and fintech companies that do business in California will need to grapple with the new California Consumer Privacy Act (CCPA), which goes into effect Wednesday.
CFPB Monitor
FEBRUARY 7, 2023
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PYMNTS
MARCH 8, 2019
Bank-FinTech collaborations have emerged as a viable, lucrative growth path for both sides of these partnerships. For FinTechs, the deals mean access to a broader range of customers through well-established industry names. For FinTechs, the deals mean access to a broader range of customers through well-established industry names.
Payments Source
JANUARY 17, 2020
The fintech Sezzle has finally received its point-of-sale lending license in California after agreeing to refund consumers in the state and pay a penalty for previously making illegal loans there, the California Department of Business Oversight said Thursday.
PYMNTS
APRIL 30, 2019
Ireland has been ramping up to boost FinTech efforts — a trend that has spanned several countries globally. The Times reported late last week that initiatives include a “FinTech foresight” group that will bring together various stakeholders across financial technology and multinational companies. In the U.S.,
BankInovation
JANUARY 28, 2022
Topping the news for fintech funding this week are two unicorns: a California cryptocurrency asset-tracking platform provider and a New York credit-building platform provider, both of which reached valuations of more than $1 billion.
CFPB Monitor
JULY 14, 2022
The California Department of Financial Protection and Innovation (DFPI) has filed its opposition to Opportunity Financial, LLC’s (OppFi) Demurrer to the DFPI’s cross-complaint. The DFPI also alleged additional CFL violations by OppFi, including the CFL’s “anti-evasion” provisions.
Payments Source
DECEMBER 3, 2019
Despite the growing success of fintech upstarts hailing from San Francisco, Wall Street institutions remain on top of the financial world. In some ways, the moves are natural for tech startups with financial ambitions.
PYMNTS
OCTOBER 21, 2018
JPMorgan Chase is doubling down with its FinTech aspirations, gearing up to start development of a new FinTech corporate campus in the early part of 2019. CNBC reported that the campus in Palo Alto, California will be home to more than 1,000 employees.
PYMNTS
APRIL 16, 2020
three California technology companies, all wanted a piece of the federal government’s $350 billion loan program, which was designed to keep businesses in the black during the COVID-19 pandemic. . FinTech companies have dramatically expanded the reach of traditional lenders, the paper wrote. PayPal Holdings Inc., Square Inc.
PYMNTS
DECEMBER 2, 2020
Luxembourg regulators have given a thumbs-up to the FinTech PingPong , authorizing it to do business as an Electronic Money Institution (EMI). The San Mateo, California-based company said the new license would aid its expansion efforts and ensure that it can “provide a secure electronic wallet.”.
PYMNTS
OCTOBER 13, 2019
The largest FinTech startup in Latin America — Brazil’s Nubank — is reporting a 25 percent increase in the number of clients since August, Reuters reported on Friday (Oct. The FinTech has expanded beyond fee-free credit cards and now offers bank accounts and associated services for both businesses and individuals.
BankInovation
JULY 17, 2020
Fintechs looking to expand beyond their Bay Area or New York City headquarters have welcomed an unlikely visitor in recent years: Utah Gov. We’ve done a lot of trips to Northern California, Southern California, […]. Gary Herbert. “The
Bank Innovation
OCTOBER 26, 2017
Based in California, Rentberry is a home rental service that […]. EXCLUSIVE – Blockchain-based rental payments platform Rentberry is looking to raise $30 million in an Initial Coin Offering (ICO) next month, Bank Innovation has learned. The ICO is set to take place on Nov.
CFPB Monitor
SEPTEMBER 8, 2020
We previously wrote about California Governor Newsom’s 2020-2021 Budget and an accompanying trailer bill that would rename the Department of Business Oversight (“DBO”) and significantly increase its ability to oversee financial services providers in the state. California Consumer Financial Protection Law. Register here. the “CFPA”).
PYMNTS
MARCH 27, 2020
companies, including $75 million landing at one FinTech looking to bolster small business credit card payment adoption. California’s Pathlight announced a $7 million Series A funding round this week for its B2B technology that enables businesses to streamline day-to-day team management operations.
PYMNTS
MARCH 18, 2020
The Federal Deposit Insurance Corporation ( FDIC ) is setting new regulations for FinTechs and industrial banks that will enhance transparency and establish record-keeping requirements, the agency said on Tuesday (March 17). Comments on the proposed rule are due 60 days from publication in the Federal Register.”.
CFPB Monitor
MAY 19, 2022
In 2019, California enacted AB 539 which, effective January 1, 2020, limited the interest rate that can be charged on loans less than $10,000 but more than $2,500 by lenders licensed under the California Financing Law (CFL) to 36% plus the federal funds rate.
CFPB Monitor
SEPTEMBER 10, 2020
In 2019, California enacted AB-539, the Fair Access to Credit Act (FACA), which, effective January 1, 2020, limits the interest rate that can be charged on loans of $2,500 to $10,000 by lenders licensed under the California Financing Law (CFL) to 36% plus the federal funds rate.
PYMNTS
JUNE 29, 2020
The Palo Alto, California startup said the no-fee account is the company’s latest move to build a next-generation banking service that is branchless, automated and optimizes every dollar. Wealthfront , the online investment service firm, has added checking features to its app.
Independent Banker
FEBRUARY 28, 2022
We asked several banking leaders how they’ve employed fintech to ramp up their marketing campaigns, hone their analytic strategies and gain new patrons in the process. The digital world has opened vastly broader avenues for community banks to attract new customers—especially if they partner with fintechs in their endeavors.
Payments Source
DECEMBER 31, 2019
A California regulator on Monday denied a lending license to the point-of-sale financier Sezzle in a detailed written decision that could have broader consequences for upstart consumer lenders.
PYMNTS
JANUARY 11, 2021
A California man has sued Robinhood Financial and Robinhood Securities, claiming he lost thousands of dollars after his brokerage account with the firm was breeched, according to a complaint. Mehta is represented in the matter by the California law firm Erickson Kramer Osborne.
PYMNTS
APRIL 28, 2017
venture capital sphere this week: VC funding for FinTech startups in Q1 alone hit $1.2 leads the rest of the world in the total value of FinTech investment due to the large amount of funds available to invest in the market, with investors focusing on late-stage, clear front-runner FinTech companies,” said KMPG U.S. “The
PYMNTS
JUNE 25, 2020
Plus, California seeks a court order to make Uber and Lyft classify drivers as employees. California Seeks Court Order To Make Uber, Lyft Drivers Employees. In response, Uber has said more than 158,000 Uber drivers in California would lose work if the reclassification happens. Samsung Electronics Co.
CFPB Monitor
JUNE 10, 2022
On June 1, 2022, plaintiff Kristen Michael filed a class action lawsuit against FinTech lender Opportunity Financial, LLC (“OppFi”) on behalf of herself and a putative class alleging, inter alia , that OppFi loans money at an interest rate upwards of 130% higher than allowed by state law. Opportunity Financial, LLC , Case No.
Payments Source
FEBRUARY 14, 2017
Jan Owen, California's commissioner of business oversight, on Tuesday invited representatives of 13 fintech companies to a "frank, constructive dialogue" on the obstacles they face with state licenses.
TheGuardian
JANUARY 13, 2022
London-based firm founded by Swiss surfing enthusiast Guillaume Pousaz overtakes worth of rival Revolut A London-based online payments company has become Britain’s most valuable private fintech business after its latest fundraising valued it at $40bn (£29bn), handing its surf-loving founder a paper fortune of around $20bn.
PYMNTS
OCTOBER 26, 2018
With only a few million dollars in combined investments, this week certainly wasn’t the most lucrative for B2B FinTech firms, but the variety and global reach of recent SMB FinTech investments offers a bright spot in an otherwise quiet moment for B2B venture capital. Businesses across Asia, South Africa, the U.K. Nisa Finance.
American Banker
FEBRUARY 7, 2020
Gavin Newsom's proposal to create a consumer watchdog modeled after the CFPB includes a provision that would make it easier for upstart financial firms to obtain industrial loan charters.
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