PYMNTS

DECEMBER 2, 2020

Silicon Valley FinTech startup Step has raised $50 million in a Series B funding round, the company announced Wednesday (Dec. Stripe invested in this round as well, as did returning investors Crosslink Capital, Collaborative Fund and Will Smith’s Dreamers VC. million in a June Series A funding round led by Stripe.

Fintech 217

Fintech FDIC Resources Management 217

CFPB Monitor

MARCH 24, 2020

The FDIC has issued a proposed rule setting forth the conditions it would impose and the commitments it would require to approve a deposit insurance application from an industrial bank or industrial loan company (collectively, ILC) whose parent company is not subject to consolidated supervision by the Federal Reserve Board (FRB).

FDIC 60

FDIC Taxes Industry Policies 60

CFPB Monitor

AUGUST 13, 2018

McWilliams stated that the FDIC’s top priorities included: (1) reducing regulatory burden on community banks; (2) increasing the speed with which the FDIC reviews charter and deposit insurance applications; and (3) assisting banks to introduce new financial products that serve underserved communities.

FDIC 68

FDIC Community Lending Guidelines 68

Gonzobanker

MAY 4, 2020

All the capital flowing into the digital fintech space is helping to solve banking industry challenges. As the industry’s appetite for digital technology grows, the capital that’s been flowing into mostly digital-focused fintech is solving real industry challenges right now. SoFi/Galileo: This $1.2 customer impact.

Fintech 109

Fintech FDIC Capital Community Bank 109

CB Insights

MAY 27, 2020

Fintech saw its worst quarter in 2 years in Q1’20, as investors pulled back from deals amid the coronavirus pandemic. The quarter saw fintech activity fall to $6.1B across 404 deals, marking the worst Q1 since 2016 for fintech deals and the worst Q1 for funding since 2017. REGISTER NOW: FINTECH WEBINAR. First name.

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Fintech FDIC Trends Capital 92

PYMNTS

MAY 27, 2020

And, they said, traditional players can find competitive strength by linking up with firms that had previously been viewed as foes (that would be FinTechs). If you talk to a bank CEO, they will tell you that most of them want to grow deposits, unless you are big enough that you worry about allocating capital.

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Fintech Innovation Digital Banking FDIC 236

PYMNTS

AUGUST 13, 2019

Challenger banks have raised $100 million worldwide in the second quarter and are the fastest-growing FinTechs, Lindsay Davis, a senior intelligence analyst at CB Insights, told the FT. . challengers partners with traditional banks to get backing from the Federal Deposit Insurance Corporation (FDIC).

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FDIC Millennials Capital Fintech 164

PYMNTS

JANUARY 9, 2018

INTRUST Bank recently announced it is also taking part in the trend of collaborating with FinTechs. In July 2017, the Federal Deposit Insurance Corporation (FDIC) held a meeting with a group of community bankers which told officials about the competitive pressures they’re facing from FinTechs.

Community Bank 131

Community Bank Community Fintech Lending 131

PYMNTS

MARCH 7, 2017

Aiming to back and support FinTech startups focused on the underserved, Accion International and VC Quona Capital raised $141 million in funding. The Accion Frontier Inclusion Fund is setting its sights on emerging markets in Sub-Saharan Africa, Latin America and Asia that have shown the most potential for inclusive FinTech.

FDIC 100

FDIC Capital Fintech Analytics 100

PYMNTS

MAY 4, 2020

Robinhood Markets, coming off a new $280 million funding round backed by Sequoia Capital, has seen its value and services expand during the coronavirus pandemic, according to a Reuters report. FinTech startups like Robinhood have been popular lately, attracting numerous new backers. The company, launched in 2013, is now valued at $8.3

FDIC 131

FDIC Fintech Millennials Management 131

PYMNTS

MARCH 6, 2019

“Time and time again we hear from small businesses that access to capital is the biggest obstacle to growth,” Company.com Chief Operating Officer David Kramer said in the announcement. Yet the FDIC said in previous analysis that the actual volume of traditional bank loans to small businesses in the U.S.

FDIC 116

FDIC Lending Capital Analysis 116

PYMNTS

OCTOBER 17, 2017

An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956. Square already has an SMB lending arm – Square Capital – which it operates through a deal with Utah-based Celtic Bank.

Industry 108

Industry Fintech FDIC Community Bank 108

Jeff For Banks

MAY 7, 2016

Recent news of Prosper scaling back and OnDeck Capital's ongoing losses has taken a little shine off of the FinTech apple. Recently a former bank director and active bank stock investor asked me about the rise of FinTechs and how it impacts community banks. FinTechs have yet to earn it. FinTechs want them.

Community Bank 60

Community Bank Community Fintech FDIC 60

Bank Innovation

FEBRUARY 18, 2019

Aura, a San Francisco-based fintech offering affordable loans to low to moderate-income households, wants to partner with banks to offer those loans to consumers who have traditionally been unable to secure them from larger institutions.

San Francisco 186

San Francisco Fintech Innovation Security 186

PYMNTS

SEPTEMBER 30, 2020

The agency first proposed a special banking charter for FinTechs in 2014 that would limit pushback from the Federal Deposit Insurance Corp. FDIC), the states and the courts. The industry claims that means payments banks wouldn’t be subject to the same capital liquidity requirements that regular banks are.

Regulation 349

Regulation National System Industry 349

CB Insights

MAY 7, 2019

The full agenda for the Future of Fintech (June 11-13, NYC) is here. The lineup includes: 1:1 firesides with CEOs/founders of top global fintech companies including unicorns: Affirm, Palantir, Plaid, Circle, Credit Karma, Oscar Health, & Toss and public companies: LendingTree, Green Dot, Citigroup, & Quicken Loans.

Fintech 36

Fintech FDIC Trends Capital 36

Gonzobanker

FEBRUARY 1, 2024

The FDIC Approved This Ad How many times did we hear a speaker admonish the audience to “be sure and sign up for the FDIC notification list.” Joint presentations between bankers and fintechs abounded, showcasing collaborative initiatives. Five Hundred? (Oh

Conference 88

Conference FDIC Arizona Industry 88

PYMNTS

MARCH 30, 2020

government’s $2 trillion stimulus package allows a number of entities — FDIC banks, credit unions and, most notably for this discussion, FinTechs such as Kabbage — to make loans to smaller firms. The availability of capital also may be less robust than it once was.

Lending 151

Lending FDIC Fintech Operations 151

CFPB Monitor

SEPTEMBER 12, 2022

To achieve the safety and soundness of banks and stability of the financial system, Barr intends to focus on mitigating evolving risks through regulatory capital reform, resolution planning for large banks, and revisiting the criteria used by the Fed to analyze and approve large bank mergers.

System 78

System Capital Regulation Analysis 78

Abrigo

FEBRUARY 12, 2020

The main drivers of expected CRE growth in 2020 are: Low interest rates Continued job growth and low unemployment Moderate consumer spending growth Abundant capital and return-seeking investors/lenders, and Increased property values (albeit slowing in appreciation). “2020 could be a pivotal year for the U.S. Learn More. Learn More.

Lending 195

Lending Trends FDIC Survey 195

The Financial Brand

OCTOBER 8, 2023

This article Should Fintechs Buy or Build Their Way into Banking Today? Acquisitions aren't easy, but new charters for fintechs are elusive. A bank law veteran weighs options in which both banks and fintechs have a stake. This article Should Fintechs Buy or Build Their Way into Banking Today?

Fintech 36

Fintech Branding Banking Trends FDIC 36

Abrigo

MAY 5, 2022

Breaking Banks Breaking Banks , billed as the #1 global fintech podcast and radio show, began in 2013 and is hosted by media firm Provoke.fm. Some recent episode titles: “Secret Sauce for Deeper Relationships & What’s So Nifty About NFTs” and “Fintech Investment and Growth Opportunities.” keep me informed. Whitepaper. CECL Models.

Community 195

Community Lending Maine Resources 195

PYMNTS

JULY 14, 2020

Silicon Valley FinTech Affirm is also a regular in the top 5 this year. percent annual percentage yield (APY), an optional auto-deposit, no fees or minimums, and security as “Affirm Savings is FDIC-insured and accounts are held by our bank partner, Cross River Bank, member FDIC,’” a statement said. The account comes with 1.30

Lending 130

Lending FDIC Minneapolis Utah 130

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.

Regulation 52

Regulation Fintech Lending Branding 52

PYMNTS

SEPTEMBER 18, 2020

And within FinTech, that most incandescent of sectors, things might look a bit, well, frothy. What shall we make of private fundraising rounds that make valuation leaps, tacking on billions of dollars with each new capital raise? Accounts are FDIC-insured through a partnership with Bancorp Bank.

Los Angeles 231

Los Angeles UX Cards FDIC 231

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.

Report 100

Report FDIC Lending Fintech 100

PYMNTS

AUGUST 14, 2019

This challenge has led to an influx of challenger banks and FinTechs specifically targeting startups, solopreneurs and small- and medium-sized businesses. Last October, the Federal Deposit Insurance Corporation (FDIC) released a report that suggested the U.S. Again, this issue is not isolated to Australia.

Lending 122

Lending Cards FDIC Capital 122

PYMNTS

NOVEMBER 23, 2020

While many digital-first companies springboard from payments into lending, Figure Technologies , a FinTech focused on home improvement, debt consolidation and retirement products that leverage blockchain protocols, is branching out from lending into payments. Blockchain and a bank charter might do much to boost financial inclusion.

National 215

National blockchain Montana Lending 215

PYMNTS

OCTOBER 30, 2019

Open banking jumped onto the financial services scene with a focus on enabling consumer-facing FinTech platforms to connect with their users’ bank account data. The company operates a suite of APIs for financial institutions and FinTechs to connect data and power customer-facing products. Banks, FinTechs Team Up.

Lending 102

Lending Fintech America Data 102

PYMNTS

SEPTEMBER 18, 2020

And within FinTech, that most incandescent of sectors, things might look a bit, well, frothy. What shall we make of private fundraising rounds that make valuation leaps, tacking on billions of dollars with each new capital raise? Accounts are FDIC-insured through a partnership with Bancorp Bank.

Los Angeles 140

Los Angeles UX Cards FDIC 140

PYMNTS

AUGUST 12, 2019

The bank combines an FDIC-insured account and a merchant account and accepts a variety of payments. “At Joust, we understand the growing market of self-employed workers, freelancers and small businesses, and their need for an all-in-one banking solution –especially one that gives them the same benefits enjoyed by major corporations.

Payments 143

Payments FDIC User Experience Apple 143

PYMNTS

NOVEMBER 25, 2016

According to a report by TechCrunch , the VC funding came from Bessemer Ventures Partners, CFSI (Center for Financial Services Innovation), 500 Startups and 500 Fintech. The app can also transfer money automatically from a bank to Albert Savings, which is an FDIC savings account that is part of the app. million round of seed funding.

FDIC 100

FDIC Cards Mobile Data 100

Independent Banker

MARCH 31, 2022

based banks, fintechs and more, sits on top of a payments rail operated by Payrailz, a digital payments company based in Glastonbury, Conn. For a community bank to be innovative means you need to make big bets with your depositors’ capital—and that’s something we take very seriously,” Thurlow says. “By

Community Bank 91

Community Bank Community Payments Meeting 91

PYMNTS

FEBRUARY 19, 2019

As concerns are raised about how industry consolidation might impact competition, Federal Reserve Chairman Jerome Powell is warning that it could hinder small businesses’ access to capital and financial services. months in the first half of 2018, from 5.6 months in the first half of 2017.

Marketing 108

Marketing Community Community Bank Industry 108

PYMNTS

DECEMBER 14, 2018

Among those agencies, alphabetically speaking: the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network (FinCEN) and the National Credit Union Administration.

Compliance 148

Compliance Innovation FDIC Examples 148

PYMNTS

MAY 23, 2019

However, it is combined with an FDIC-backed checking account called Zero Checking. The company plans to market its card to credit-wary millennials who want to avoid getting into a deep debt cycle, but who also want the incentives of owning a credit card. The Zerocard, as it is called, is a World Mastercard that earns credit card cash back.

Cards 135

Cards Millennials FDIC ATM 135

PYMNTS

AUGUST 17, 2017

Chase, Wells Fargo, Bank of America and Citi, to name a few, all scaled back their physical bank branch locations between 2012 and 2016, according to the Federal Deposit Insurance Corporation (FDIC). Among the participating FinTechs are Payso, SnapCheck and Token. Among the participating FinTechs are Payso, SnapCheck and Token.

Millennials 132

Millennials Digital Banking San Francisco Fintech 132