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Financial Services Platform SoFi Plans IPO Via SPAC

PYMNTS

SoFi’s technology platform Galileo , which it acquired in April, has helped position the startup at the nexus of the digital transformation in banking and financial services. SoFi partnered with Samsung and Mastercard to launch a new cash management account feature with no fees. The deal is anticipated to provide as much as $2.4

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The Bank-FinTech Tie-Up Evolves

PYMNTS

As bank-FinTech collaborations evolve, more traditional financial institutions (FIs) are not only implementing services and technologies developed by FinTech partners, but they’re also lending their own expertise to augment FinTech solutions. Bottomline Rolls Out Open Banking Service. Morgan Enhances Virtual Cards Via Marqeta.

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FSB: Tech Giants Will Shake Up Financial Industry

PYMNTS

New entrants into the financial services space, including FinTech firms and large established technology companies … could materially alter the universe of financial services providers,” the FSB said. Many companies have moved into the financial space, including Tencent, Baidu, Google, Samsung, Microsoft, Mercado Libre and Vodafone.

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Alibaba Acquires EyeVerify

PYMNTS

Passwords could soon become a thing of the past if Ant Financial succeeds in its efforts to bring new authentication technology to market. The acquisition will further the firm’s biometric technology, which will be used to authenticate online transactions using pictures of the human eyeball.

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The Big Sizzle: Winning Week For Wearables

PYMNTS

Wearables also got a B2B showcase this week, with Samsung and HSBC rolling out S3 gear at the bank’s flagship Fifth Avenue location. The plan, HSBC and Samsung jointly confirmed in a press briefing, is envisioned for wider rollout in the U.S. and globally, though an official timeline has not been set.

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Voice-Activated Tracker: Echo Show, The Speaker Who Would Be King

PYMNTS

The timing of Amazon’s latest release is a bit inopportune for new market entrant Microsoft, which just one day prior had announced a partnership with Samsung Electronics unit Harman Kardon to launch a smart speaker, called Invoke, powered by AI assistant Cortana. The remaining 5.6 In 2017, eMarketer projects 35.6

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Q&A: The Next Leg Of Fintech Innovation

CB Insights

Will all neobanks die as big tech companies launch new products (Facebook Financial, Apple Pay, Samsung Money, etc…)? Our funding data primarily shows that B2B companies like Airwallex are building technology internally, then enabling non-financial companies to offer financial services.

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