Rep. Maxine Waters (D-California), who is chairwoman of the House Financial Services Committee, raised concerns over banking charters for fintech and crypto companies at a subcommittee hearing on the topic this week.
Read MoreMarcus by Goldman Sachs, which likens itself to a fintech startup operating inside a large bank, is these days looking more like a legacy bank unit facing a flight of talent – the latest being head of product Sonali Divilek.
Read MoreBanks like JPMorgan Chase, Goldman Sachs, and Wells Fargo are reporting blockbuster profits today, but their earnings reports are being overshadowed by a milestone moment for the crypto industry as Coinbase – the first major cryptocurrency company in the U.S. to go public – began trading on the Nasdaq.
Read MoreAs digital business payments surge during the pandemic, Citibank is helping its clients gain more visibility into payment paths, reminiscent of the process to track shipments of physical goods.
Read MoreHill Harper, an actor who plays Dr. Marcus Andrews on the ABC medical show The Good Doctor, is launching an investing and payments app geared toward minority communities, particularly Black and Latinx consumers.
Read MoreMastercard is teaming up with Sweden-based fintech Doconomy on the launch of the Mastercard Carbon Calculator, a feature which banks can embed into their apps.
Read MoreWalmart has tapped Citi executive Julia Unger as its vice president of financial services. Unger spent more than 18 years at Citi, most recently as head of global cards and unsecured lending.
Read MorePowerPay, a King of Prussia, Pennsylvania-based home improvement financing fintech has hit a $1B milestone in loans originated on its platform as it eyes additional products and services, including insurance and other types of lending products.
Read MoreWealth management tech giant Envestnet has acquired Harvest Savings & Wealth Technologies, a 7-year-old Bay Area-based fintech that offers savings and wealth solutions for banks and wealth management firms. Terms of the deal were not disclosed.
Read MoreAvant, a Chicago-based digital lender that’s raised more than $600M in equity funding, and has connected more than 1.5 million customers to $7.5B in loans and 400,000 credit cards, has acquired Zero Financial and its digital challenger bank Level.
Read MoreSignal, the messaging app that enables privacy via encryption, is testing a feature in the U.K. that will allow users to send currency to each other through the MobileCoin wallet and cryptocurrency MOB.
Read MoreInstinet, the Nomura-owned broker-dealer and Credit Suisse have settled U.S.-listed equity trades on a same-day timeframe while using Paxos’ blockchain-based settlement service.
Read MoreAlkami, a 12-year-old Texas-based banking technology startup with a cloud-based platform for banks and credit unions, announced an initial public offering (IPO) at a $2B valuation.
Read MoreBank of America has acquired Santa Barbara, California-based Axia Technologies, which is also known as AxiaMed. The 6-year-old payments technology company focuses on healthcare.
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.
