Open banking fintech Abound raised £500M to help grow its consumer lending platform, which uses AI to offer cheaper loans.
The valuations of Revolut and Varo Bank were slashed amid question marks over both neobanks’ bottom lines.
The exit illustrates the challenges of major restructurings at banks and builds pressure on the lender to win over backers.
They want banking regulators to look into how banks that offer Zelle protect consumers as fraud concerns grow.
Sen. Brown wants the OCC to discuss the consequences of branch closures with affected communities. But that might not be enough to reverse the trend.
The government is here to help: A fintech industry body is pushing for changes to UK Open Banking rules, but it shouldn’t hold its breath.
Banks offer poor-fitting digital solutions and forget about SMBs’ physical needs. Those that can seamlessly provide both will win the market.
Its report found that many BNPL users have subprime credit scores and are under economic distress—which could increase the case for regulation.
On today's episode, we discuss the fintech investment trends of 2023. In our “Headlines” segment, we look into why 2022’s fintech investments were lower compared to 2021. In “Story By Numbers,” we question the lack of mega deals in 2022 and consider what they may look like this year. And in “For Argument’s Sake,” we focus on future investment strategies in terms of disruption. Tune in to the conversation between our host Rob Rubin, analyst Eleni Digalaki, and Alex Sion, managing director of Motive Create at Motive Partners.
Klarna is about more than BNPL: Its Kosma open banking platform is growing as the company creates new revenue streams on the back of its banking and payments infrastructure.
The technology has promising use cases across the banking sector. We highlight where and what banks should do to prepare.
A lawsuit alleges it issued the wrong loans and is forcing repayment for what should be forgiven. BofA will likely blame government pressure to move quickly.
It plans to focus on integrating its newly-acquired startup, Power Financial, and improving business efficiencies.