Two months after filing a patent for fintech offering Hazel by Walmart – an amalgam of products and services that look a lot like a robo-adviser – the retail giant announced a partnership with bill payment fintech PayNearMe and Green Dot Bank in an effort to get customers to pay their bills at its stores.
Read MoreAt a bitcoin conference in Miami last week, Square CEO Jack Dorsey said the company was considering creating a non-custodial hardware wallet for bitcoin, a move Dorsey said could help “take it to the next level and get to 100 more million people.”
Read MoreDave, a California-based challenger bank, personal finance app and earned-wage access provider, announced plans to merge with VPC Impact Acquisition Holdings III, Inc., a special-purpose acquisition company sponsored by Victory Park Capital.
Read MoreSquare is partnering with Google to offer sellers on its platform greater visibility.
Read MoreJamie Dimon, JPMorgan Chase CEO, along with bank CEOs of the five other largest banks in the U.S., testified before the Senate Banking Committee on Wednesday, May 26. A focus was overdraft fees, which banks continued to charge during the pandemic despite additional flexibility from regulators.
Read MorePayPal’s head of blockchain and crypto, Jose Fernandez da Ponte, announced that Paypal and Venmo users will be able to send bitcoin and other cryptocurrencies to one another and to other apps.
Read MoreHSBC, a global bank with nearly $3T in assets, has decided not to offer bitcoin-related products and services to clients, bucking the trend of other large banks and traditional financial companies that are warming to digital assets, including JPMorgan Chase and Wells Fargo.
Read MoreSquare is quickly expanding its territory beyond payments. The firm, which obtained a bank charter in March, is reportedly on the cusp of offering checking and savings accounts for its small-business customers.
Read MoreIn an apparent nod to digital-centric customer behaviors, Merrill Lynch Wealth Management is no longer making cold calls a part of its training program for incoming brokers.
Read MoreZip Co, an Australia-based ‘buy now, pay later’ (BNPL) company, is in a race against rivals Klarna and Afterpay to capture as much global market share as quickly as possible.
Read MoreIn testimony before the House Financial Services Committee this week, acting Comptroller of the Currency Michael Hsu suggested fintech charters may be looked at more closely.
Read MoreEco, a personal finance app that takes deposits and offers savings accounts paying 2.5-5% interest, appears to undertake a lot of banking activities without positioning itself as a bank or a cryptocurrency firm.
Read MoreBitcoin hasn’t been declared dead, but a decline in value is causing some pullback among investors and affecting the value of other digital currencies such as ether, dogecoin, and XRP.
Read MorePipe, a Miami-based company that lets companies sell their recurring revenue streams on its platform, raised $250M, bringing its valuation to $2B a year after its launch.
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.
