PYMNTS

DECEMBER 23, 2020

The teenager with a Fortnite habit who manages to clean out Dad’s checking account via the debit card linked to the gaming account. The company offers FDIC-insured bank accounts and a Visa -branded payment cards for teens (aged 13-18) with budgeting features and other financial education tools built in. 2021 And Beyond.

Fintech 322

Fintech Cards FDIC Lending 322

Payments Source

FEBRUARY 19, 2021

Brex currently relies on bank partners to offer credit cards and cash management accounts to small and midsize businesses. It is looking to charter its own FDIC-insured institution to be a direct provider.

Resources 87

Resources FDIC Fintech Cards 87

American Banker

FEBRUARY 19, 2021

Brex currently relies on bank partners to offer credit cards and cash management accounts to small and midsize businesses. It is looking to charter its own FDIC-insured institution to be a direct provider.

Resources 99

Resources FDIC Fintech Cards 99

PYMNTS

MAY 23, 2019

Zero, a company that aims to modernize credit cards for the millennial generation, has raised $20 million in a Series A funding round, according to a report. 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.

Cards 135

Cards Millennials FDIC ATM 135

PYMNTS

OCTOBER 22, 2019

announced that it is partnering with Evolve Bank & Trust , an FDIC-insured financial services organization, to offer a full suite of customizable credit, debit, prepaid and DDA products. Its partnership with ic2 will include the latest innovations in credit cards, prepaid cards, debit cards, and a host of core-banking solutions.

Fintech 100

Fintech FDIC ATM Cards 100

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

NOVEMBER 9, 2020

percent in 2019, its lowest rate in a decade since the FDIC first began tracking this statistic in 2009. Another FDIC report found that 31 percent of American consumers are now using peer-to-peer (P2P) mobile wallet apps, for example. This represents a noted reversal from trends of the past decade.

Tools 203

Tools Mobile FDIC Examples 203

PYMNTS

JULY 24, 2019

Profits from the new offerings will come from debit card interchange fees, the article said. Like other FinTechs, Betterment will partner with FDIC-insured institutions since it doesn’t have a bank charter. Betterment is among several FinTech startups that have launched deposit account products. .

Fintech 162

Fintech FDIC National Online 162

PYMNTS

MAY 4, 2020

The FinTech startup, which works to help millennials get into equities, crypto trading and other options, has benefited from the quarantine’s effects as people stay at home and have time to explore new finance options. FinTech startups like Robinhood have been popular lately, attracting numerous new backers.

FDIC 131

FDIC Fintech Millennials Management 131

PYMNTS

DECEMBER 12, 2019

“We’ll still have existing revenue streams, and, in addition, we’ll add revenue from interchange on debit card transactions. The cash management feature is offered in partnership with a bank, and has debit cards, as well as deposits backed by the Federal Deposit Insurance Corporation (FDIC).

FDIC 135

FDIC Millennials Management Fintech 135

PYMNTS

JULY 15, 2020

European FinTech Revolut, which recently debuted in the U.S. with an app and debit card, is expanding its range of services into the realm of cryptocurrency trading with a big assist from Paxos. In a Wednesday (July 15) press release, Paxos Trust Co. said Revolut is its first customer for its new product, the Paxos Crypto Brokerage.

US 233

US cryptocurrency FDIC Compliance 233

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

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. But, as SoFi and now Square have demonstrated, the interest is there, and the FinTechs aren’t going away.

Industry 108

Industry Fintech FDIC Community Bank 108

PYMNTS

JULY 14, 2020

“Given how much the demand for installments is increasing, we are also using the already existing parts of the credit system today to scale installment payments with every [Visa] card across the board,” Cetin Duransoy , Visa ’s global head of installment solutions, told PYMNTS. Fast and Furious BNPL Action. The account comes with 1.30

Lending 130

Lending FDIC Minneapolis Utah 130

PYMNTS

JULY 16, 2019

In the continued linkups between banks and FinTech upstarts, new markets beckon across various borders. Among the latest examples, N26 , which is a digital-only bank based in Europe, has entered the US market through partnership with Axos Bank in order to offer FDIC insured accounts.

Digital Banking 101

Digital Banking US FDIC Cards 101

Fintech Labs Insights

APRIL 4, 2023

The new Mercury Vault ( company announcement , 13 March 2023 ) includes $5M of FDIC insurance (achieved by shipping deposits in excess of $250k to a network of 20 banks). Using this link new customers earn a $250 bonus after spending $10k on their new Mercury debit card. Related: Top 15 U.S.

FDIC 15

FDIC Online Tools Digital Banking 15

PYMNTS

SEPTEMBER 18, 2020

And within FinTech, that most incandescent of sectors, things might look a bit, well, frothy. Also, in terms of pure valuation, to get a sense of the enthusiasm: CNBC said at the end of last year that Chime’s sales were likely around $300 million, tied to swipe fees on debit cards. billion, as CNBC reported.

Los Angeles 231

Los Angeles UX Cards FDIC 231

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. percent per credit card transaction until June 2020. The urgency, and speed, of Kabbage’s situation comes even as the U.S.

Lending 151

Lending FDIC Fintech Operations 151

CB Insights

AUGUST 3, 2021

Mercury , a fintech company, has raised $120M in a Series B. California-based Mercury is an online banking platform that offers a suite of financial services such as FDIC-insured bank accounts, physical and virtual cards, and cash management for startups, e-commerce stores, and angel investors, among others.

Digital Banking 73

Digital Banking Company FDIC California 73

Fintech Labs Insights

JUNE 23, 2023

Rewind to 2019 and there were more than 50 fintech/insurtech accelerators. And only 7 of those are fintech market specialists. Here is our curated list of accelerators actively looking for fintech startups. Ranked more or less by their total portfolio of fintech graduates.

San Francisco 15

San Francisco Fintech Charlotte CA 15

PYMNTS

NOVEMBER 12, 2020

FDIC) study found that the number of unbanked U.S. Because for those with a smartphone but not a bank account or charge card, life is extra tough right now. A recent Federal Deposit Insurance Corp. consumers will likely start rising again as a result of the pandemic recession. New approaches are about simplicity.

Mobile 202

Mobile Study Tools FDIC 202

PYMNTS

APRIL 24, 2019

In addition, Wealthfront works with FDIC-insured partner banks — including East West Bank , New York Community Bank and others — to hold customers’ deposits. There are also plans to launch direct deposits and a debit card by the end of the year. percent interest rate, while money market accounts return an average 0.21

FDIC 108

FDIC New York Community Bank Course 108

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. But that mix is not a smart tactic for managing company spend and finances.

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

Gonzobanker

FEBRUARY 1, 2024

many we talked with in the halls acknowledged that credit quality remains a wild card to start the year. 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.” The Fate of Glass The French have a saying that it is the fate of glass to break.

Conference 88

Conference FDIC Arizona Industry 88

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

SEPTEMBER 18, 2020

And within FinTech, that most incandescent of sectors, things might look a bit, well, frothy. Also, in terms of pure valuation, to get a sense of the enthusiasm: CNBC said at the end of last year that Chime’s sales were likely around $300 million, tied to swipe fees on debit cards. billion, as CNBC reported.

Los Angeles 140

Los Angeles UX Cards FDIC 140

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

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.

FDIC 100

FDIC Cards Mobile Data 100

Fintech Labs Insights

OCTOBER 14, 2021

The startup, launched in 2017, found early product-market fit and has become one of the fintech darlings of the past few years. High-limit (non-revolving) charge cards (based on bank account balance, not founder(s) personal credit history. FDIC insured deposits ($250k). Emigrant Bank — Card issuer. in just four years.

Cards 15

Cards FDIC Fintech Software 15

CFPB Monitor

AUGUST 5, 2021

He also testified that there is an ongoing interagency effort to address the “$35 coffee” concern, which is a reference to a scenario in which a consumer incurs a series of large overdraft fees as a result of using a debit card to make a series of small dollar purchases. Community Reinvestment Act.

Data 78

Data FDIC Community Analysis 78

Fintech Labs Insights

SEPTEMBER 3, 2020

At one time or another, every consumer fintech company wonders if they should buy a bank. But most fintech startups want to buy a ticket to the financial rails, not a large customer base. But we haven’t seen a pre-revenue, basically a stealth fintech startup, buy a bank. The 18 Fintech Startups in the 2020 INC 500.

Fintech 15

Fintech FDIC Oakland Minnesota 15

Fintech Labs Insights

APRIL 6, 2023

Are we about to see a rush of fintech startups serving the interest-sensitive small business market? Case in point: Just days after the Feds took over SVB, Mercury was in market with its Mercury Vault, offering $5 million in FDIC insurance by distributing balances across 20 insured banks. 95,000 6 Meow * 11 4.3%

Digital Banking 15

Digital Banking Online FDIC San Francisco 15

Independent Banker

NOVEMBER 25, 2015

A mix of players, FinTech firms pose threats and opportunities. Call them disruptors, upstarts or the voguish FinTech companies. FinTech customers have no idea they are exposing themselves to identity and financial risk. Illustration by Getty images / Chris Ede. By Kelly Pike. Siphoning customers.

Community Bank 70

Community Bank Community Analytics Lending 70

Fintech Labs Insights

JUNE 26, 2023

Are we about to see a rush of fintech startups serving the interest-sensitive small business market? Case in point: Just days after the Feds took over SVB, Mercury was in the market with Mercury Vault , offering $5 million in FDIC insurance by distributing balances across 20 insured banks. Maybe, maybe not.

Digital Banking 15

Digital Banking Online FDIC San Francisco 15

Bank Innovation

APRIL 9, 2018

insurance for balances, a debit card for cash withdrawals […]. Well, according to a report by the Wall Street Journal, the payments company has been reaching out to certain customers to add certain banking features PayPal is offering. Through the PayPal digital wallet, the payments platform is offering Federal Deposit Insurance Corp.

Cards 249

Cards Payments Report Company 249

CFPB Monitor

SEPTEMBER 9, 2020

Our letter draws on Ballard Spahr’s two-plus decades of experience in representing banks and savings associations (“Banks”) in establishing lending programs (“Bank-Agent Programs”) where a Bank obtains substantial assistance from a fintech or other non-Bank company (an “Agent”) to offer Bank loans to consumers or small businesses.

FDIC 78

FDIC National South Dakota Lending 78