Where have all the SPACs gone?
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Special Purpose Acquisition Companies (SPACs) once seemed like the future of public launches. But, where there were more than 300 SPAC IPOs in Q1 2021, less than 70 took place a year later.
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Fintech News Stories
Inflation may be a boost to rewards programs
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With a surge in gas prices, travel costs, groceries, and rent, US consumers are adopting cost-cutting measures. Many are turning to credit card rewards programs as a needed windfall, especially cards with cashback offerings.
Read MoreHedge funds anticipate a recession
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US-based hedge funds are making more conservative bets on stock prices than they have in a decade. Funds like Bridgewater and BlackRock have increasingly taken short positions on billions of dollars in assets.
Read MoreWhat’s the financial sector doing post-Roe?
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The Supreme Court overturned Roe v. Wade on Friday, ending the federally protected right to an abortion. In response, banks and financial institutions like JPMorgan Chase, Wells Fargo, and Goldman Sachs said they would cover travel costs for employees seeking an abortion in other states.
Read MoreMillennials report low confidence in retirement plans
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Research by Alto Solutions, Inc., a self-directed IRA provider, claims 53% of millennial investors aren’t confident they will ever be able to afford retirement. And 76% worry that a market crash could erase their savings.
Read MoreIs a recession really coming?
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A recession is defined as a “significant decline in economic activity that is spread across the economy and lasts more than a few months.” The uncertainty of the term, as well as improving supply-chain conditions in the auto industry, suggest a slump isn’t inevitable.
Read MoreOutsourcing the front office with Northern Trust
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In an interview with The Financial Revolutionist, Gary Paulin, Head of Global Strategic Solutions at Northern Trust, argues that the future of the front office rhymes with the cloud-computing landscape. He envisions an ecosystem of partnerships built around a client’s value chains, which, he asserts, would offer all firms the opportunity to compete with the fund manager giants.
Read MoreRent increases may seriously affect proptech’s future
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The Council of Economic Advisers reported that skyrocketing rents were responsible for 40% of the Consumer Price Index increase in May. At least 35% of people in the U.S. live in rented housing.
Read MoreMaking sense of Klarna’s tanked valuation
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The BNPL giant is in talks to fundraise at a $15B valuation. It had previously been valued at $46B.
Read MoreRemaking Samsung Pay
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Samsung announced that it’s merging its Pay and Pass apps into Samsung Wallet, a single, integrated platform for financial products, official documents, home and car keys, and more. Users in France, Germany, Italy, Spain, the UK, and the US are the first to have access to the updated service.
Read MoreThe metaverse may be a gateway for marijuana payments
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Golden Ark, a marijuana payments startup, has launched a metaverse-based payments system. It’s developed virtual cannabis as a cryptocurrency that supports real-life cannabis authentication and transactions.
Read MoreAre traditional loans the future of BNPL?
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PayPal announced the launch of its “PayPal Pay Monthly” service, which lets customers pay in monthly installments for purchases between $199 and $10,000. WebBank is the lender for the service.
Read MoreInsurtech in a bear market with MTech Capital
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In an interview with The Financial Revolutionist, Brian McLoughlin, Partner and Co-Founder of MTech Capital, details upcoming fundraising challenges, discusses the likelihood of major acquisitions, and describes why insurtech remains a promising site for investment.
Read MoreFormer OCC head talked big bank out of gun control measure
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Brian Brooks, former acting Comptroller of the Currency during the Trump administration, said the head of “one of the two largest banks in the United States” was considering a ban on gun purchases using the bank’s debit and credit cards. Brooks convinced the bank CEO to not go ahead with the move.
Read MoreCredit unions risk major climate-related losses
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A report by the Filene Research Institute and Ceres Accelerator for Sustainable Capital Markets suggests more than 60% of credit unions risk climate-related losses. These credit unions represent over $1.2T in assets.
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