Roblox stock tumbles by 25%
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In a settlement with regulators, BlockFi agreed to register with the SEC and pay $100M in federal and state fines. It plans to launch an SEC-approved crypto interest-bearing security.
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Fintech News Stories
UK banks to face higher standards for AI-driven loans
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Financial regulators told banks that they must prove that the use of AI in loan applications does not discriminate against minorities. The move follows growing concerns over systeming racism in banking.
Read MoreDiscover to offer non-card payments
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Through a partnership with fintech Buy It Mobility Networks Inc. (BIM), Discover will let merchants accept payments directly from consumers’ bank accounts. The feature is popular in Asian markets.
Read MoreFacebook Messenger debuts ‘split payments’ feature
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Launched yesterday, the feature lets users split bills evenly or in customized amounts through Facebook Pay. Facebook had publicly tested the feature for two months.
Read MoreFollowing PayPal, Meta shares tumble 26%
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Meta, the company formerly known as Facebook, reported disappointing fourth-quarter earnings as well as its first-ever decline in users. The company’s market capitalization tanked—sliding from $898.5B to $668.4B.
Read MoreWhat’s Apple’s payments strategy?
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In the coming months, Apple will let iPhones accept credit cards without additional hardware. By turning its smartphones into POS systems, Apple is placing itself in direct competition with platforms like Square.
Read MoreExpensify finds a gateway through CPAs
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Expense-management giant Expensify announced the launch of a card exclusively for CPAs and accounting firms.
Read MoreWill NFTs shake up ad-driven platforms?
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YouTube CEO Susan Wojcicki announced that the video platform is looking into NFT features for its creators. The Google-owned company joins Twitter and Instagram in exploring services related to the crypto-based financial system.
Read MoreWhat’s behind JPMorgan’s fintech fight?
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In its earnings call on Friday, JPMorgan announced that it will spend $1B per month in 2022 to move its operations to the cloud.
Read MoreThrough Stripe, Ford zooms ahead on fintech
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Payment-processing platform Stripe announced a five-year contract with Ford Motor Company: an effort to revamp the automotive giant’s e-commerce strategy.
Read MoreThe metaverse’s battle royale for tech talent
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Over the past year, more than 40 Microsoft employees working on augmented-reality technologies have been poached by Meta, which has poured billions into metaverse initiatives.
Read MoreSXSW 2021 Pitch Winners Announced
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“What is your customer acquisition strategy?” is a typical question for startups. And many of the 40 companies pitching in eight categories during the 13th annual SXSW Pitch Event showed they had a clear roadmap for attracting ideal customers to grow their businesses.
Read MoreQ&A with Devon Sherman of MassChallenge FinTech
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Devon Sherman, Senior Managing Director of MassChallenge FinTech and HealthTech
Read MorenCino to go public despite incurring losses “for the foreseeable future”
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Cloud-based bank operating system nCino, filed to go public on Monday and is seeking to raise $100 million, despite no indication of when it plans to be profitable.
Read MoreTech Snafu Hampers Start of Election Season
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The glitches that arose during the Iowa Caucus are another reminder that while technology has made our lives more convenient in many ways, it also is not perfect, and can sometimes be a hindrance rather than a boon.
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