In an effort to lock in teen business before they seek out competitors when they turn 18 (aka Robinhood and apps like it), Fidelity is offering teens aged 13 to 17 debit cards, and investment and savings accounts.
Read MoreSocial Capital Hedosophia Holdings Corp. V (IPOE), the Chamath Palihapitiya-linked special-purpose acquisition company, has outlined next steps for its merger with SoFi, a deal that will take the 10-year-old fintech public.
Read MoreWells Fargo is launching a 10-year initiative to bring unbanked and underbanked Americans into the financial system.
Read MoreCard issuing and processing startup Marqeta has filed paperwork with the Securities and Exchange Commission (SEC) to go public, after more than doubling its 2020 year-over-year revenue.
Read MoreIn a major shift in underwriting practices, major banks are working together on a pilot program to share consumer account data in an effort to extend credit to thin-credit-file customers.
Read MoreFacebook, which has been spearheading a global digital currency initiative called Diem – formerly known as Libra – is moving its operations from Switzerland to the U.S. in an effort to focus efforts on a U.S. dollar-backed stablecoin.
Read MoreThe Senate passed a resolution to repeal the True Lender Rule, a rule that sets parameters for partnerships between banks and third-party lenders.
Read MoreGlobal money-transfer provider MoneyGram is letting customers buy and sell bitcoin at MoneyGram physical store locations thanks to a partnership with cryptocurrency exchange Coinme.
Read MoreArgyle, a fintech startup that aspires to become the “Plaid for employment records” by offering consumers capabilities to grant permission to access their payroll data, is being scrutinized over its motives to collect payroll data and offering to pay consumers for access to login information.
Read MoreBetter, a 5-year-old digital mortgage lender, is merging with special-purpose acquisition company Aurora Acquisition Corporation, in a $7.7B deal to take the company public.
Read MoreKlarna, a Sweden-based ‘buy now, pay later’ (BNPL) provider with global reach, is launching a program to help pandemic-affected U.S. businesses, which includes in-kind media services, and free BNPL offerings.
Read MoreThe Big Issue, a 30-year-old U.K.-based publication that employs homeless street vendors, is incorporating QR code payments to increase sales.
Read MoreChime, one of the largest digital banking startups in the U.S., has agreed to stop conflating its offerings with those offered by banks in its marketing and advertising messages, per a March settlement agreement with California regulators.
Read MorePayPal, in its first quarter 2021 earnings report, said it processed $285B in payments – a 50% bump year-over-year – and added 14.5 million net new active customers.
Read MoreGrayscale investments, the world’s largest cryptocurrency asset manager, entered into the first-ever cryptocurrency partnership with an NFL Team with a new agreement with the New York Giants.
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.
