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Free Trading App Robinhood Sets Sights On Britain

PYMNTS

It chiefly attracts millennials interested in trading stocks and cryptocurrency. Late last year , Robinhood began offering a cash management service. “As they grow and that comes to an end, they will just become another brokerage.”. The broad consumer appeal of free trading compelled the 2015 launch of Robinhood.

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Robinhood Rolls Out Interest-Earning Bank Account

PYMNTS

Online brokerage startup Robinhood has introduced a cash management service that will give customers 1.8 Silicon Valley’s Robinhood is known for making free stock trading accessible, and has spent the last year figuring out the best way to offer cash management services. No FinTech startup has been successful at getting a bank charter.

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Robinhood Nets $280 Million On A $8.3B Valuation

PYMNTS

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. By introducing the money management program, Robinhood was able to achieve a more modest version of its bank idea.

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Zero Launches Debit-Like Credit Card, Raises $20M

PYMNTS

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.

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SoFi Officially Files For A Bank Charter Of Its Own

PYMNTS

Which means it really doesn’t come as all that huge a surprise that as of June 6th, SoFi had applied for a new (de novo) bank charter according to the FDIC. Instead, SoFi as a bank will exist so it can “provide its customers an FDIC insured NOW account and a credit card product. SoFi has confirmed the news.

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Walden Mutual aims to serve New England’s food community

Independent Banker

submitted its application to the FDIC at the end of August with the intent to serve New England’s local and sustainable food community with a bank owned by its depositors. The native New Englander has worked in management consulting and composting and lives on a farm with his wife, kids, chickens and sheep. Fresh perspective.

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Seeking Banking Balance Between Physical And Digital

PYMNTS

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). A separate survey from management consulting firm Bain & Co.