Meta, Facebook’s parent company, announced it would reduce its engineer hiring goals by 30% this year. It will recruit between 6,000 and 7,000 engineers, down from an envisioned 10,000.
Read MoreThe Council of Economic Advisers reported that skyrocketing rents were responsible for 40% of the Consumer Price Index increase in May. At least 35% of people in the U.S. live in rented housing.
Read MoreA report by the Filene Research Institute and Ceres Accelerator for Sustainable Capital Markets suggests more than 60% of credit unions risk climate-related losses. These credit unions represent over $1.2T in assets.
Read MoreIn an interview with The Financial Revolutionist, Mark Loehr, CEO of OpenExchange, explains his path to OpenExchange, offers tips for organizing virtual meetings, and outlines his vision for the future of virtual contact.
Read MoreThis morning at its 2022 Worldwide Developers Conference (WWDC), the computing giant introduced attendees to Apple Pay Later, a proprietary buy now pay later (BNPL) service. Goldman Sachs is the lender for the instalment loans.
Read MoreIn an interview with The Financial Revolutionist, and a week after Clear Street’s $165M Series B announcement—making the company a unicorn—Bailey details the market gap Clear Street tackles, explains why capital markets have been slow to modernize, and outlines how new technology can level the playing field between large and small players.
Read MoreIn an interview with The Financial Revolutionist, Danielle Kane, Director of Small Business Banking at Grasshopper Bank, explains the bank’s lean partnership model, describes how small businesses can operate like consumers, and hints at the bank’s long-term goals.
Read MoreAlly Financial announced the launch of a new wealth management offering, which provides access to human advisors, rather than robo advisors, for clients with more than $100,000 in investable assets.
Read MoreThe payments giant announced the launch of its Biometric Checkout Program, which lets customers pay by smiling or waving their hand over a reader. It will first be used at five supermarkets in Brazil as a pilot program.
Read MoreThe BNPL provider announced that it will offer its solution on Fiserv point-of-sale technology, including the Carat commercial system as well as Clover POS devices at brick-and-mortar stores. Visa announced a similar partnership with FIS last week.
Read MoreIn the fall of 2021, the Seattle-based proptech abandoned its home-flipping blitz and laid off 2,000 employees. It’s now ramping up for another moonshot project: building a super app for real estate.
Read MoreThe computing giant has officially hired Desi Ujkashevic, Global Direct of Safety Engineering at Ford, to join Apple’s efforts to develop a fully electric autonomous car. Ujkashevic had worked at Ford for 31 years.
Read MoreGlobal shipping giant Maersk announced that it’s partnered with Stripe to overhaul its payments infrastructure. Stripe tailored its products to accommodate Maersk’s multinational compliance requirements.
Read MorePayPal was one of several companies that made an informal complaint to the European Commission about restricted access to Apple’s NFC technology for payments. On Monday, the Commission released its preliminary findings, which suggest that Apple unfairly prevents competitors from using NFC payments tech on Apple devices.
Read MoreThis morning, the European Commission released the initial findings of an antitrust case surrounding Apple Pay and third-party access to NFC technology on Apple hardware. The Commission has concluded that Apple unfairly prevents competitors from using NFC payments tech on Apple devices.
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.
