Amid the GameStop trading frenzy in recent weeks, the U.S. House Financial Services Committee heard from tech CEOs, including Robinhood CEO Vlad Tenev, on Thursday, Feb. 18.
Read MoreGoldman Sachs, the famed Wall Street investment bank, is increasingly moving to Main Street with the rollout of consumer financial services offices offerings, the latest being Marcus Invest this week.
Read MoreAs the dust settles over the Robinhood-GameStop debacle, the company is picking up the pieces with a bruised reputation, lawsuits, and the likelihood of enhanced government oversight.
Read MoreCNN's Chris Cuomo speaks with Vlad Tenev, CEO of the stock-trading app Robinhood, after the company barred traders from buying shares of GameStop promoted by WallStreetBets, a popular subreddit for investors.
As retail investors on Reddit boosted heavily-shorted stocks like AMC Entertainment, Blackberry, and GameStop – which rose hundreds of percentage points in recent weeks
Read MoreBlackRock, the world's largest asset manager with $8.68T in assets under management, announced that it’s integrating tools offered by Clarity AI, a sustainability analytics and data science platform, into Aladdin, BlackRock’s operating system for investment professionals.
Read MoreTruist Financial is selling off its 401(k) unit, the company announced on Wednesday, January 6. Terms of the transactions were not disclosed.
Read MoreWahed, a U.S.-based Islamic fintech that offers a compliant investment management platform, has acquired Niyah, a British company that runs a banking app designed for Muslim communities. Terms of the deal were not disclosed.
Read MoreBetterment and Wealthfront, two early robo-adviser startups that ushered in a wave of automated investment tools more than a decade ago, are preparing to expand their market share and scale more quickly.
Read MoreJPMorgan Asset Management this month acquired 55ip, a Boston and Mumbai-based fintech that offers tax automation technology for financial advisers. Terms of the deal, expected to close by the end of the year, were not disclosed.
Read MoreThe J.D. Power 2020 U.S. Wealth Management Mobile App Satisfaction Study reports that while customers use wealth management apps more the pandemic, client satisfaction lags behind other consumer financial institutions such as credit card companies, retail banks and insurance companies.
Read MoreFinancial Planning first reported that 6-year-old wealth management software firm Oranj is shutting down by the end of the year.
Read MoreBumped, a Portland, Ore.-based investment app, launched after years in a controlled beta. The app partners with brands to offer consumers fractional share rewards after making purchases.
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.
