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Credit Karma Wants to Be in Top 3 Among Tax Filing Companies

Bank Innovation

EXCLUSIVE – It’s Credit Karma’s second tax season as a tax prep/filing company, and already about 3 million people have started using Credit Karma Tax, according to Jagjit Chawla, general manager of Credit Karma Tax. That number is three times the 1 million filers in the company’s last tax season.

Taxes 218
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YES BANK Taps Tax Return Data For SMB Loan Underwriting

PYMNTS

India’s YES BANK is tapping into tax data to expand small business (SMB) lending. Reports in MENAFN on Friday (April 13) said the company plans to offer loans to micro, small and medium-sized businesses based on their Goods and Services Tax (GST) returns. Singapore, Germany and Hong Kong.

Taxes 108
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Apple Pay And A Decade Of Innovation Top Payments News This Week

PYMNTS

We have deep, data-supported dives on Apple Pay, the outlooks for payments innovation in the 2020s, web sales taxes and Amazon’s holiday shopping season news. Ten Years Of Payments Innovation And Reinvention. Lights out for the FinTech charter idea ? NRF On The Case For Revising eCommerce Sales Tax Laws.

Apple 101
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Fifth Third Gets a Boost from M&A in Both Banks and Fintech

Bank Innovation

Fintech partnerships paid off for Fifth Third Bank this quarter. The sale of five million shares of common stock of Worldpay resulted in a $205 million pre-tax gain. The largest gains came from the bank’s ownership stake in the payment processing company Worldpay, formerly Vantiv. of […].

Fintech 199
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WiseBanyan Is Going Premium

Bank Innovation

The free digital investment advisor, WiseBanyan, is prepping a series of “Premium Packages” for an array of its financial products, Bank Innovation has learned. The first of the packages, Tax Protection, went live today, according to the company’s co-founder Vicki Zhou.

Taxes 207
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IMF’s Lagarde Calls Out FinTech As Industry Disruptors

PYMNTS

According to the official , although technology and innovation will modernize the financial markets, it could also make them vulnerable because payment and settlement systems will be in the hands of a small number of tech companies. Tech companies are accused of using them to get around paying higher corporate taxes.

Industry 190
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Top Banks Keep Ahead Of FinTechs’ Competitive Threat

PYMNTS

The delicate balance between bank-FinTech competition and collaboration continues to teeter in the U.S. In a market without Open Banking regulations, FinTechs continue to enter in to the market, collaborating with bank partners to offer their own financial services — which often compete directly with other financial institutions.

Fintech 144