Nubank, the world’s biggest standalone digital bank, cuts IPO valuation
/Nubank, the Berkshire Hathaway-backed digital banking behemoth based in Brazil, cut the targeted price range for its planned IPO by about 18% this week.
Read MoreNubank, the Berkshire Hathaway-backed digital banking behemoth based in Brazil, cut the targeted price range for its planned IPO by about 18% this week.
Read MoreN26, a Berlin-based neobank which operates in 25 countries and boasts more than 7 million customers (including 500,000 U.S. customers), is considering a slowdown of its U.S. market outreach.
Read MoreJiko, a banking technology provider that uses customer deposits to buy short-term treasury bills, is partnering with tech platform Euphoria on the company’s launch of a transgender-focused banking app called Bliss.
Read MoreOportun, a lender focused on the low- to moderate-income segments of the population, announced that it acquired personal-finance app Digit for $212.9M ($98.5M in equity and $114.4M in cash).
Read MoreAs neobanks replace the community banks of yesteryear as financial providers for affinity groups – including, for example, immigrants, LGBT consumers, and African Americans – Stretch is looking to zero in on the financial needs of the around 600,000 individuals in the U.S. who have been released from state and federal prisons every year.
Read MoreStarling Bank, one of the U.K.’s biggest challenger banks with millions of customers, is on a trajectory to go public in one or two years, CEO Anne Boden said.
Read MoreBrian Barnes, CEO of M1 Finance, a Chicago-based fintech that offers automated investing, borrowing and banking services, announced that he acquired First National Bank of Buhl, as an individual.
Read MoreJPMorgan Chase exceeded profit expectations in its third-quarter earnings call this week, progress that aligns with a wider economic recovery.
Read MoreUmpqua Bank and Columbia Bank have agreed to merge, bringing together two West Coast institutions which have a combined $43B in deposits.
Read MoreThe U.S. Postal Service is launching a pilot program in four cities in an effort to deliver financial services to underserved Americans.
Read MoreGoogle, which had planned to launch bank accounts under the Plex brand, announced it was abandoning the initiative in favor of “digital enablement for banks and other financial services providers.”
Read MorePayPal unveiled a new version of its app this week, which incorporates a host of new features that position itself to compete with neobanks.
Read MoreJPMorgan Chase has launched a digital banking product to U.K. customers to rival challenger banks like Monzo and Starling on the one hand, and old-guard players like Goldman Sachs, Lloyds, Barclays, NatWest, and HSBC on the other.
Read MoreNerve, a neobank for musicians, aims to serve musicians with FDIC-insured accounts that help the musician separate their personal and financial lives; streaming and follower data; free instant payments to other Nerve users; and a networking feature that allows musicians to collaborate with one another.
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.