With the approval of the coronavirus relief package, consumers anxiously await their stimulus deposits, an area where digital-only banking startups are pulling ahead of incumbent players.
Read MoreStripe, a company whose tools allow merchants to accept payments, says it’s growing its European operations amid a $600M Series H fund raise.
Read MoreThe Consumer Financial Protection Bureau (CFPB) this week issued an interpretive rule clarifying that it will enforce a federal ban on sex discrimination in lending practices, which also applies to cases where discrimination is claimed on the basis of sexual orientation or gender identity.
Read MoreWhile the bulk of stimulus payment cards are going out through direct deposit, a significant number will be sent via MetaBank-issued prepaid cards.
Read MoreGreen Check Verified, a company that offers cannabis banking software and service solutions, today launched a suite of account monitoring and compliance tools to enable institutions to meet regulatory requirements more efficiently.
Read MoreIn an apparent move to secure a bank charter as soon as possible fintech SoFi acquired California’s Golden Pacific Bancorp for $22.3M. SoFi offers banking, lending, and investing products.
Read MoreCredit bureau Equifax has acquired AccountScore, a 5-year-old U.K.-based company whose technology helps businesses obtain and understand bank transaction data. Terms of the deal were not disclosed.
Read MoreIn a crowded market of digital-only banks and bank-type platforms, cash back rewards are seen as a way to keep customers engaged.
Read MoreIn a move reaffirming their openness to bitcoin in traditional markets, Canadian securities regulators approved a third bitcoin exchange-traded fund – the CI Galaxy Bitcoin ETF – that will launch Tuesday on the Toronto Stock Exchange.
Read MoreStarling Bank, a 7-year-old U.K. neobank, crossed 2 million accounts on the heels of its biggest fund raise yet: $376M, led by Fidelity investments.
Read MoreMoneyLion, a New York-based banking, investing, and lending platform, has acquired Wealth Technologies in an effort to bolster its in-house tech capabilities that help users plan their financial lives.
Read MoreHippo, a 6-year-old insurtech firm that focuses on home insurance, is merging with a special purpose acquisition company (SPAC), in a $5B deal that will take the company public.
Read MorePayPal is reportedly planning to buy crypto custody firm Curv, at a price tag of between $200M and $500M, several news outlets reported.
Read MorePayments Canada and the Bank of Canada are in the process of setting up Real-Time Rail (RTR), a network that will allow Canadians to initiate payments and receive irrevocable funds in seconds, 24 hours a day, seven days a week. It will launch next year.
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.
