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SoFi To Buy Galileo Financial Technologies In $1.2B Deal

PYMNTS

In a deal valued at over a $1 billion, SoFi said it has inked a definitive deal to buy Galileo Financial Technologies. Galileo CEO Clay Wilkes said in the announcement, “SoFi has built a very strong diversified financial services company focusing on a full suite of financial services. I think it’s very powerful.”.

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Why Not All FinTech Providers Are FinTech Firms

PYMNTS

Such is the case in financial services, where “ FinTech ” is often used to describe financial technology vendors. “A A firm that offers financial technology is not necessarily a FinTech,” said Provenir Managing Director Paul Thomas, who thinks the distinction between the two needs to be clearer.

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Wyoming creates fintech sandbox

CFPB Monitor

Earlier this year, Wyoming became the second state to create a financial technology (fintech) sandbox by enacting the “ Financial Technology Sandbox Act ” (Sandbox Act). Arizona was the first state to create a fintech sandbox and we will soon be publishing a blog post about Utah’s new fintech sandbox.)

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Consumer Financial Protection Bureau Seeks Advice On Financial Data Access

PYMNTS

The announcement by the Consumer Financial Protection Bureau ( CFPB ) comes on the heels of a symposium it held in February which included experts from consumer groups, financial technology (FinTech) companies, trade groups, banks and data aggregators.

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What Can Banks Learn From The FinTechs?

Insights on Business

This is definitely related to the inflection point that the banking industry is today both from their own inability to drive change for rapid digitization and also to address the threat from non-banking firms. What can banks learn from the FinTechs? What should be their strategy for Digital Banking transformation?

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Canadian Fintech Market Map

CB Insights

Finally, looking at Canadian “fintech” (financial technology) specifically, funding was up substantially in the first half of the year. Canadian fintech companies raised $251M through the end of H1’19, nearly double the $133M raised in H1’18. The 2019 Canadian fintech market map. APIs) directly to end-users.

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What Can Banks Learn From The FinTechs?

Insights on Business

This is definitely related to the inflection point that the banking industry is today both from their own inability to drive change for rapid digitization and also to address the threat from non-banking firms. What can banks learn from the FinTechs? The post What Can Banks Learn From The FinTechs?

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