BBVA shutters Simple after paying $117m for it in 2014
The bank is cutting out standalone entities which no longer make sense to operate solo.
Consumer/Personal Finance
SoFi set to go public via merger with Palihapitiya’s fourth Spac
The IPO will value SoFi at $8.65 billion.
Customer service start-up Glia lands $78m to help banks and credit unions
The round was led by Shopify and Checkout.com backer Insight Partners.
Webinar: Deep dive on ServiceNow’s purpose built product for finserv operations
How to improve customer and employee experiences. Featuring a demo of The Now Platform from ServiceNow.
2020 review: Top 10 fintech and bank M&A deals
Despite COVID-19, the financial sector has still enjoyed some notable M&A deals.
Personalisation: the Gen Z banking imperative
This generational cohort represents a lucrative target market for financial services institutions.
US state regulator says Robinhood is “aggressively marketing” to novices
The regulator calls out Robinhood’s approach of “gamifying” trading.
Mozper lands $3.55m to launch kid debit card in Mexico
In August, Mozper – with the help of partner Visa – launched its closed beta with 500 families.
Financial assistant app Cleo raises $44 million
Cleo has four million Gen-Z and millennial users; and recorded a 400% revenue growth in the last year.
The perennial BNPL crown
Blind allegiance has seen the BNPL sector explode in 2020.
Web Summit 2020: A fintech summary
Stripe is looking at products around digital identity.
Libra and Facebook exec joins rental insurtech LeaseLock
The fintech removes the need for renters to pay a deposit for a rental property.
Banking Tech Awards 2020 hosted online by Tom Ward
Join comedian Tom Ward for the 2020 Banking Tech Awards. Broadcast online on 10 Dec, 3:30pm GMT and is free to attend.
San Fran alternative lender Oportun applies for banking charter
Oportun currently has licences in 12 states.
New York challenger Current lands $131m in Series C funding round
The capital will go towards Current’s product offerings.
Google Pay unveils integrated banking challenger Plex
Plex will sit in the wider, revamped Google Pay app.
Rebooting savings during the COVID-19 crisis
How then should we think about structuring our savings plan for success?
MSU Federal Credit Union built its own app in 2009 – where is it now?
MSU holds around $5.5 billion in assets and is America’s 48th largest credit union.
PNC buys BBVA’s US arm for $11.6bn creating America’s fifth-largest bank
PNC expects the acquisition will generate around $900 million in cost savings.
Uber plans return to financial services with hires “across the board”
The firm is “not ready to announce anything yet”.
HSBC launches Global Money account in US to rival fintechs
The bank’s aim behind the new service is to create “one global account”.
US fintech lender Upstart Holdings files for IPO
To date, the fintech has raised some $165 million in funding.
Alliance Data to buy BNPL fintech Bread for $450m
The acquirer expects the deal to increase its earnings per share by 2023.
A banker goes a-banking, volume 7: why can’t we be friends?
What 15 years of digitisation & modernisation have gotten us from the consumer’s point of view? It’s not looking great.
Mexico’s credit alternative challenger Klar lands $15m Series A
“We help people build credit by looking at how and where they spend their money.”
Future economic relief should care for more families
Deserving families have continued to be unfairly excluded from government relief throughout the COVID-19 crisis.
Canadian robo-advisor Wealthsimple lands unicorn status with $87m raise
Wealthsimple serves some 1.5 million users.
Affirm files IPO application, but financials are confidential
Fintechs in the BNPL space have seen their valuations rocket.
LendingClub shuts retail P2P offering as it focuses on institutional investors
The fintech allowed consumers to invest in Notes, corresponding to fractions of loans.
Argentina’s money management app Ualá launches in Mexico
“It’s a much better product than we had in Argentina [upon launch],” says the CEO.
JP Morgan-backed Greenlight joins unicorn club with $215m Series C
The start-up says the new funding will be used to push its customer growth further.
The shifting ground of payments: are banks and SMEs aligned?
It’s safe to assume that in time, every business and consumer will expect immediate settlement as a norm.
Challenger Envel plans “autonomous” banking with Autumn launch
The fintech claims it will “optimise” users’ money.
UK challenger Samie to launch in 2025
The start-up claims it hit the 500,000 future customer mark in mid-2019.
FinovateFall 2020: The one-app strategy is unit banks all over again, says Google
Network centrality isn’t new to banking, says Google Cloud head.
Supplement: FinovateFall 2020
Read our free FinovateFall Supplement, packed with fintech goodness!
To win the battle of banking, you need a digital war room
Here, banks can get visibility into every single process in their business as they actually behave.
What the Fintech? Episode 13 | Commerce in the wake of COVID-19
Travis Skelly tells FinTech Futures all about how Citi Ventures evaluates ecommerce companies.
Small challenger Jiko buys Minnesota bank
Instead of sitting in deposits, Jiko customer money sits in Treasury Bills.
Aussie BNPL Zip closes $296m acquisition of US player QuadPay
“The US is a critical part of our global strategy,” says CEO.
