N26 workers organize to address grievances
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Fintech News Stories
R3’s Rutter to Launch New Trading Platform LedgerEdge
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Financial services heavyweight David Rutter, founder of enterprise blockchain firm R3 and U.S. treasuries trading marketplace LiquidityEdge, has assembled a team to build a new trading platform called LedgerEdge.
Read MoreTSB to phase out branch cashier jobs as digital adoption grows
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British bank TSB is getting rid of branch cashiers next year, affecting 929 jobs.
Read MoreFifth Third Bank Launches Digital Wills
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Fifth Third Bank is partnering with San Diego-based digital estate planning fintech Trust & Will to offer online estate planning services to its customers.
Read MoreAmerican Express in talks to acquire business lender Kabbage
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American Express is in “advanced talks” to acquire small-business lender Kabbage for as much as $850 million in an all-cash deal, Bloomberg reported.
Read MoreUK challenger bank Starling reports strong revenue growth during pandemic
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In a business update, U.K.-based digital banking startup Starling reported an annualized revenue run rate increase of more than 370% in wake of the pandemic, to £80M ($104.6M).
Read MoreSquare acquires Stitch Labs to help grow its merchant toolkit
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Payments company Square last week acquired commerce operations firm Stitch Labs, whose tools let businesses oversee inventory, orders, channel management, and fulfillment.
Read MoreRoot Insurance to eliminate credit scores from consideration by 2025
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Root Insurance, a 5-year-old auto insurance startup that uses smartphone technology to understand its clientele’s driving habits, has pledged to eliminate credit scores as a factor in its car insurance pricing model by 2025.
Read MoreCustomers Bancorp sells BankMobile to Megalith Financial Acquisition
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Customers Bancorp has agreed to sell subsidiary platform BankMobile to Megalith Financial Acquisition. The company would then merge with Megalith, change its name to BM Technologies, and go public.
Read MoreCash App drives transaction growth for Square
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Square’s peer-to-peer Cash App, drove the company’s performance in the second quarter. Square reported $1.92 billion in net revenue for the second quarter – a 64% year-over-year jump – despite an $11 million loss.
Read MoreEnvestnent-owned Yodlee rolls out ‘hyper-personalization’ feature
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Data aggregator Yodlee, owned by Envestnet, launched a new offering called Insights Solutions, which allows companies to gain personalized views of clients’ finances.
Read MoreAmazon Pay, WhatsApp to enter Indian insurance market
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This week, Facebook-owned WhatsApp announced plans to pilot credit, micro-insurance and micro-pension products among lower-income populations in rural India.
Read MoreRide-hailing company Grab adds direct-to-consumer financial products
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Grab, a Singapore-based ride-hailing company that operates in several markets across southeastern Asia, began offering financial products for retail consumers through its financial unit. The new products include a micro-investment service, loans, and “buy now, pay later” capabilities.
Read MoreApple buys startup whose tech can ‘transform iPhones into payment terminals’
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Apple has acquired Canada-based payments company Mobeewave for $100 million. After launching a credit card with Goldman Sachs, this is the tech giant’s latest move into financial services.
Read MoreMixed fortunes for challenger banks
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The past week has been a mixed bag for challenger banks globally. U.S.-based Varo earned a national bank charter, clearing three years of regulatory hurdles and hefty investments; Australia’s DayTek Capital was granted a banking license, joining the likes of Xinja, Judo Bank and Volt; and U.K.-based Monzo posted $149M (£113.8M) loss for the year.
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