FinTech Futures: Top five news stories of the week – 18 October 2024
Our pick of the top fintech news stories this week includes TD Bank, Barclays, Klarna and more.
SoFi
SoFi secures $2bn deal with Fortress Investment Group to expand loan platform business
The deal will help fuel the company’s personal loan origination activities.
FINRA fines SoFi $1.1m after consumer identification flaws led to multi-million dollar heist
SoFi Money – the unit targeted by fraudsters – was ultimately closed by the fintech in June 2022.
SoFi set to end crypto services, taps Blockchain.com as “strategic crypto partner”
SoFi’s cryptocurrency services will formally end on 19 December.
Demystify Podcast: Core banking modernisation and BaaS with Miguel Santos and Dave Feuer, Galileo
Real examples of several innovations only made possible by a modern core, and more!
SoFi acquires Wyndham Capital Mortgage in all-cash deal
The acquisition includes both “talent and technology” and is designed to help SoFi scale.
Core banking tech vendor Technisys acquired by SoFi Technologies
Technisys’ shareholders will receive 84 million shares of SoFi common stock worth $1.1 billion.
US mobile banking app Spruce launches powered by SoFi Technologies’ Galileo
The mobile banking platform has been built by H&R Block and launched on 20 January 2022.
SoFi realises ambition to become national bank with US regulatory approval
The firm filed an application with the Office of the Comptroller of the Currency in July 2020.
SoFi partners Pagaya to boost access to financial services
SoFi plans to extend its credit lending services to a broader audience.
Galileo hires former Google Cloud exec Derek White as new CEO
White replaces Galileo founder Clay Wilkes who will switch to vice chair.
SoFi to acquire Golden Pacific Bancorp in $22m quest for US bank charter
US fintech switches tactics to nab an existing licence.
The US market: are EU-based challengers coming to rustle up some feathers?
A deep dive and step-by-step comparison of US banks’ and EU challengers’ capabilities.
SoFi set to go public via merger with Palihapitiya’s fourth Spac
The IPO will value SoFi at $8.65 billion.
2020 review: Top 10 fintech and bank M&A deals
Despite COVID-19, the financial sector has still enjoyed some notable M&A deals.
Blockchain-based lender Figure seeks US bank charter
Figure wants to simplify its regulatory and compliance procedures.
SoFi files banking charter application with OCC
The $4.3 billion fintech wants to take another crack at banking.
Samsung unveils ‘Samsung Money’ with SoFi
User deposits will be FDIC insured for up to $1.5 million.
SoFi acquires Hong Kong stock trading app 8 Securities
“Hong Kong, a financial capital of Asia, is ripe for innovation,” says SoFi’s CEO.
Consumer fintech SoFi to acquire Galileo for $1.2 billion
Both CEOs say now is “the right time” for this deal.
Amazon VP Maria Renz joins Californian fintech SoFi
For a time, Renz was Bezos’ first and only female adviser.
Mike Cagney’s Figure Technologies set to raise $103m in Series C
Figure is also edging into the student financing space.
Video: fintech news weekly round-up – 5 June 2019
News on CIBC, NAB and Bank Leumi alliance, SoFi funding and more!
Top fintech stories this week – 31 May 2019
The first Amadeus event on payments, a new Indonesian payment standard, and more!
SoFi confirms $500m investment led by Qatar
SoFi’s total capital now stands at $2.3 billion.
SoFi goes insurtech with Lemonade and Root
Until this month, SoFi’s insurance offering was limited to life insurance.
Salary Finance completes $32.8m funding for US push
Sofi co-founder will lead the US branch of the firm.
Lendtech SoFi flying low as losses linger
US firm has lost money for the second consecutive quarter.
SoFi reportedly cutting 65 jobs from mortgage division
The Wall Street Journal reports the firm is looking to make its mortgage process more automated.
SoFi’s choice: former Twitter COO to take helm as new CEO
Social media’s loss is social finance’s big gain.
Ex-SoFi CEO on rebound with new fintech venture
Ex-CEO and SoFi founder plotting a comeback with a new fintech start-up amidst allegations of sexual harassment.
Innovation spotlight: North American FIs going social
As banking continues to go digital, online innovators and niche players in North America are getting personal by adding social activities to their customer services.
SoFi buys mobile banking start-up Zenbanx for $100m
US-based personal finance firm SoFi (Social Finance) has acquired mobile banking start-up Zenbanx as it looks to stretch out in the world of financial services. SoFi is paying about $100 million in stock for Zenbanx’s technology, according to Bloomberg and “a person familiar with the agreement”. Zenbanx offers a mobile account in the US and […]
