Fintech News Stories
Bank of America’s Life Plan feature gains more than five million users
/Bank of America announced that Life Plan – a digital financial planning tool it launched a year ago – has crossed five million users, calling it the company’s “most rapidly adopted digital feature of all time.”
Read MoreRobinhood popularity takes a hit after meme stock fad fades
/Activity on stock trading app Robinhood plunged during the third quarter of this year, a development that may be connected to the end of the meme stock fad.
Read MoreRevolut to roll out stock trading for US customers
/Revolut, the U.K.-based challenger bank with a global footprint, will roll out commission-free stock trading capabilities for U.S. customers in an effort to compete with the likes of Robinhood, Public, and SoFi.
Read MoreAI-supported asset manager Pagaya to go public via merger with SPAC
/Pagaya, an American and Israeli fintech firm that uses artificial intelligence (AI) to manage institutional money, is going public through a merger with special purpose acquisition company EJF Acquisition Corp.
Read MoreMoney transfer firm Wise launches index investing feature in beta
/Money transfer giant Wise (formerly TransferWise) – which went public in July and boasts a market capitalization of more than $14B – is expanding its wings beyond payments and testing investing products for its U.K. customers.
Read MoreAcorns reaches out to veterans to kick off underserved customer strategy
/Banking and investing app Acorns is waiving subscription fees for veterans in an effort to reach more underserved customers.
Read MoreHuman Interest rides a pandemic wave of interest in small-business 401(k)s
/Human Interest, a San Francisco-based startup 401(k) provider, claims to “launch a retirement plan in minutes and put it on autopilot.”
Read MoreRobinhood shares surge as investors give it ‘meme stock’ status
/Shares of trading app Robinhood, which gained notoriety earlier this year by enabling retail investors to pump up so-called meme stocks including Gamestop and AMC Entertainment, are surging a few days into its launch on the Nasdaq.
Read MoreM1 Finance launches credit card with up to 10% cash back
/M1 Finance, a Chicago-based financial app that includes investing, lending, and banking, launched an Owner’s Rewards Card that offers up to 10% cash back for users when they shop at select companies whose stock they own.
Read MoreRobinhood seeks $35B valuation in upcoming IPO
/Trading app Robinhood is reportedly seeking to raise $2.3B in an upcoming initial public offering (IPO).
Read MoreVanguard acquires startup Just Invest in bid to grow toolset for advisers
/Pennsylvania-based investment behemoth Vanguard, which is the world’s second-largest asset manager, is buying Just Invest, a 5-year-old startup whose technology helps advisers customize portfolios.
Read MoreJPMorgan Chase to acquire startup OpenInvest to enhance ESG capabilities
/In its third fintech acquisition of the year, JPMorgan Chase announced plans to acquire OpenInvest, an Andreessen Horowitz-backed startup founded by former Bridgewater Associates employees.
Read MoreInvesting app Stash expands education push with PayGrade acquisition
/Stash, a digital investing app that’s expanded to a full complement of financial product offerings including banking and financial wellness and savings tools, has acquired PayGrade, a financial literacy platform aimed at school-age kids.
Read MoreJPMorgan buys digital wealth app Nutmeg as it preps UK launch
/JPMorgan Chase has acquired U.K. robo-adviser Nutmeg as it prepares to launch a digital banking offering in Britain later this year.
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