Oportun, a lender focused on the low- to moderate-income segments of the population, announced that it acquired personal-finance app Digit for $212.9M ($98.5M in equity and $114.4M in cash).
Read MoreCryptocurrency exchange BlockFi is in the crosshairs of the Securities and Exchange Commission (SEC) over a product that pays high interest rates for lending out their digital tokens.
Read MoreMoneyLion, a New York-based fintech that offers banking, investing, loans and other financial services, announced that it acquired MALKA Media, a content studio and platform that helps creators reach consumers.
Read MoreFranklin Resources, otherwise known as Franklin Templeton – which provides investment advisory services to mutual fund, retirement, and institutional investors – is being accused of sabotaging a blockchain startup to help it enter the fintech market.
Read MoreInvestment firm VanEck is launching a bitcoin futures exchange-traded fund (ETF) this week, following in the footsteps of ProShares, which rolled out a similar product in October.
Read MoreRobo-advisers tout their transparency of fees and pro-consumer approaches, but the Securities and Exchange Commission (SEC) found that many were misleading clients through their advertising and not acting in clients’ best interests.
Read MoreLemonade, the publicly-traded insurtech firm that offers insurance for renters, homeowners, pet owners, and (very recently) car insurance, this week announced that it’s planning to acquire Metromile for $500M in stock.
Read MoreEarlier this year, Vanguard – the largest issuer of mutual funds in the world and the second-largest issuer of exchange-traded funds – claimed it would roll out a new app designed with clients’ needs in mind.
Read MoreAmid an inflation report that showed the consumer price index jumping 6.2% compared to one year ago – the fastest year-over-year jump since 1990 – the value of Bitcoin hit $68,950 on Wednesday before falling back. Meanwhile, Etherum soared past $4,800.
Read MoreAs neobanks replace the community banks of yesteryear as financial providers for affinity groups – including, for example, immigrants, LGBT consumers, and African Americans – Stretch is looking to zero in on the financial needs of the around 600,000 individuals in the U.S. who have been released from state and federal prisons every year.
Read MoreEthereum, the world’s second-largest digital coin, grew in value more than 4% to more than $4,700 Monday, an all-time high.
Read MoreTrading app Robinhood – which earlier this year faced scrutiny over its GameStop trading halt – is now reeling from the consequences of a data breach that exposed the names or email addresses of more than seven million people.
Read MoreApple CEO Tim Cook told an audience at the New York Times Dealbook Summit this week that the company has no immediate plans to allow crypto payments through Apple Pay.
Read MorePayments firm Square, which reported third-quarter earnings on Thursday, showed declining revenue from bitcoin transactions, although gross profit increased 43% to $1.13B
Read MoreDigital banking fintech Revolut is looking for a tech lead to build a crypto exchange, according to a recent job posting on LinkedIn.
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.
