JPMorgan Chase has launched a digital banking product to U.K. customers to rival challenger banks like Monzo and Starling on the one hand, and old-guard players like Goldman Sachs, Lloyds, Barclays, NatWest, and HSBC on the other.
Read MoreAccording to Congress’s nonpartisan Joint Committee on Taxation, more than $279B sits in ‘mega-IRAs’, or individual retirement accounts with at least $5M each.
Read MoreCryptocurrency exchange Coinbase has signed an agreement with the U.S. Immigration and Customs Enforcement (ICE) branch of the U.S. Homeland Security Department in an undisclosed use case for its blockchain analytics software.
Read MoreGoldman Sachs is deepening its push into financial services for the masses with a planned acquisition of GreenSky, a lender focused on home improvement.
Read MorePagaya, an American and Israeli fintech firm that uses artificial intelligence (AI) to manage institutional money, is going public through a merger with special purpose acquisition company EJF Acquisition Corp.
Read MoreRevolut, a London-based digital banking fintech worth $33B, is facing blowback over a 2.75% surcharge levied on former employees who will participate in an upcoming secondary share sale.
Read MoreMoney transfer giant Wise (formerly TransferWise) – which went public in July and boasts a market capitalization of more than $14B – is expanding its wings beyond payments and testing investing products for its U.K. customers.
Read MoreBanking and investing app Acorns is waiving subscription fees for veterans in an effort to reach more underserved customers.
Read MoreA group of investors have brought a class-action complaint against brokerage Charles Schwab. They claim the company violated fiduciary and consumer-protection responsibilities through its Schwab Intelligent Portfolios’ cash sweep program.
Read MoreCredit reporting company TransUnion announced plans to acquire Neustar, a Virginia-based company that offers real-time business information and analysis tools that help businesses find new customers and determine which ads should serve them.
Read MoreFacebook is buying up $100M of unpaid invoices from small businesses who will, in turn, pay back Facebook under terms the company says are affordable.
Read MoreCryptocurrency exchange Coinbase, which recently went public, says it’s facing possible enforcement action from the Securities and Exchange Commission (SEC) over its Coinbase Lend product that it expected to launch in the coming weeks.
Read MoreMastercard announced plans to acquire Menlo Park, California-based blockchain analytics startup CipherTrace for undisclosed terms.
Read MoreIf Walmart’s fintech offering will be called Hazel, then Walgreens is going Scarlet. The pharmacy chain this week launched a bank account, debit card and personal finance planning tools under the Scarlet brand name.
Read MorePayPal expanded its global ‘buy now, pay later’ (BNPL) bet through its planned acquisition of Paidy, a Japan-based BNPL provider.
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.
