Category Archives: Fintech

Online lender Kabbage to launch payment services by year-end

NEW YORK (Reuters) – Kabbage Inc, a U.S. online lender for small businesses, plans to launch payment processing services by year-end, President Kathryn Petralia said on Monday, helping it to diversify and compete more directly with industry leaders PayPal Holdings Inc (PYPL.O) and Square Inc (SQ.N). The Atlanta-based startup will offer tools to enable clients, […]

Read More

TPG, Carlyle Consortium Acquires Baidu Financial Services Group For $1.9B

Chinese internet giant Baidu Inc. has sold a majority stake in its Financial Services Group (Baidu FSG) for US$1.9 billion to an investor group  led by TPG and The Carlyle Group, with participation from Taikang Group, ABC International Holdings and others. China Money Network first reported that Baidu was planning to “dispose of a majority equity stake” in FSG on Friday. TPG […]

Read More

AI in Banking and Payments

How artificial intelligence is cutting costs, building loyalty, and enhancing security across financial services?   Artificial intelligence (AI) is one of the most commonly referenced terms by financial institutions (FIs) and payments firms when describing their vision for the future of financial services. AI can be applied in almost every area of financial services, but […]

Read More

BankThink Blockchain Is Fintech’s Real Game-Changer

In Forbes’ third edition of the “Fintech 50”, a list of the top 50 financial technology companies globally of 2018, released on Feb. 13, eleven of the companies listed use Blockchain technology or are connected to the cryptocurrency industry. The founders of three of the companies, The Bitfury Group, Coinbase, and Ripple that made the Fintech 50 also made Forbes’ list […]

Read More

Startup Affirm Creates Apple Pay Credit Card Without the Plastic

Affirm Inc., a startup from PayPal co-founder Max Levchin, is going after millennials with a new kind of credit card alternative that only exists online.   People can sign up through the website or at checkout on some web stores for financing from Affirm that’s paid off in monthly installments. On Monday, the company said […]

Read More

Lending FinTech GreenSky Files For IPO

Lending FinTech GreenSky has confidentially filed paperwork for an initial public offering (IPO). Atlanta company could seek to raise $1 billion at a valuation of roughly $5 billion in public offering GreenSky doesn’t make loans directly. Instead, it arranges financing for customers of retailers such as Home Depot. PHOTO: MICHELLE GUSTAFSON/BLOOMBERG NEWS The Wall Street Journal reported that […]

Read More

Marcus by Goldman Sachs: Digital Finance

Goldman Sachs was recently honored by Fast Company as one of the most innovative companies in finance. Head of Digital Finance Harit Talwar discusses the culture of innovation behind Marcus, the firm’s first consumer digital lending platform, and what it’s been like building a start-up within a nearly 150-year-old company. On innovation, Harit notes: “The […]

Read More

Personal Loan: Too Many Big or Small Players

Personal Loans: Estimated offers for $10,000 Debt consolidation loans for borrowers with good credit You can use an unsecured personal loan to consolidate debt or finance large purchases. Interest rates and terms can vary, based on your credit score and other factors. Compare loans from multiple lenders and learn more about personal loans. Competition heats […]

Read More

The Profitability of the Average Checking Account

Maintaining a customer’s checking account costs your financial institution money. The American Bankers Association estimates the annual cost to a bank to maintain a checking account is between $250 and $400 per year. For community financial institutions with less than $5 billion in assets, the average according to other researchers is closer to $250 to […]

Read More

SOFI: Social Finance

    A finance company that can get you ahead Type Private Industry Financial services Founded August 2011; 6 years ago Headquarters San Francisco, California Key people Anthony Noto (CEO) former COO of Twitter Products Student loan refinancing Mortgages Personal loans Parent loans Wealth management Website sofi.com History SoFi was founded in 2011 by Mike Cagney, Dan Macklin, James […]

Read More