The Consumer Financial Protection Bureau (CFPB) announced on Friday, July 26, that it will propose new rules on how third parties can access consumer financial records later this year.
Read MoreTire Agent, a digital tire marketplace, picked up $5 million in funding to grow its business and support its tire financing platform called PayPair, which matches lenders with consumers of any credit score with a payment plan.
Read MoreWest Malling, U.K.-based startup battleface, an insurtech company backed by Fintech Ventures Fund, Greenlight Re and Tangiers Group, this month launched a COVID-19 travel insurance package, covering medical expenses resulting from the coronavirus for U.K. and EU citizens under 59 years of age.
Read MoreAtlanta-based small business lender Kabbage, which has 400,000 business customers, is partnering with Green Dot Bank to offer checking accounts with no monthly fees and 1.1% interest on all balances.
Read MoreGoldman launched an app for clients called Gemini to help its clients find merger and acquisition prospects.
Read MoreFintechs that specialize in rounding up customers’ spare change and investing those funds are getting a boost. Plum, a U.K.-based savings and investment app picked up $10 million in new funding as it plans European expansion.
Read MoreMastercard inked a partnership with London-based crypto platform Wirex that will allow the company to issue cards on Mastercard’s network. Wirex already offers crypto-friendly Visa cards.
Read MoreHome Point, which claims to be America’s second-largest wholesale mortgage lender for residential loans, is partnering with digital lending fintech Figure to offer a white-labeled digital home equity line of credit product to its customers powered by Figure’s software.
Read MoreRadius Bank, a digital bank with $1.4B in assets, is incorporating goals-based saving into its app. Radius, which has partnered with many fintechs, is in the process of joining LendingClub upon the close of a $185M acquisition of the bank.
Read MoreLemonade is betting on the strong bonds forged between humans and pets during the pandemic. It’s launching dog and cat health plans that start at $12 per month, and to sweeten the offer, it will donate leftover premiums to animal-focused charities.
Read MoreIn its first-ever earnings report, insurtech firm Lemonade reported a $21M net loss in the second quarter of 2020.
Read MoreDiscount brokerage Robinhood raised $320 million as part of its Series F round, bringing its valuation to $8.6 billion. The company in May raised $280 million as part of the same round, signaling investor confidence in its growth and IPO prospects.
Read MoreBanking core technology provider FIS this week unveiled a flat-fee, month-to-month subscription model for community banks and credit unions called ClearEdge.
Read MoreAs the Trump administration eyes a TikTok ban amid security concerns, U.K. fintechs see it as a customer acquisition channel, pulling in quarantine-weary TikTok users who may be open to changing their money habits.
Read MoreHow LoanStreet helped credit unions thrive during the pandemic
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.
