Houston-based fintech offers to help Afghan refugees establish financial lives

Houston-based fintech offers to help Afghan refugees establish financial lives

Fair, a neobank that is a subsidiary of Houston-based tech firm Amsys Group, is working with Austin-based nonprofit World Relief to help Afghan refugees set up bank accounts and other financial products after they arrive in the U.S.

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Gen Z-focused financial services capture imagination of incumbents and startups

Gen Z-focused financial services capture imagination of incumbents and startups

Gen Z consumers have garnered considerable recent attention as incumbents and newer platforms launch offerings to cater to this market

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Capital One kills overdraft fees, citing need for consumer ‘safety net’

Capital One kills overdraft fees, citing need for consumer ‘safety net’

Capital One announced that it’s removing overdraft fees, and the $150M in annual revenue that goes along with it. The bank is also getting rid of non-sufficient fund (NSF) fees.

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Nubank, the world’s biggest standalone digital bank, cuts IPO valuation

Nubank, the world’s biggest standalone digital bank, cuts IPO valuation

Nubank, the Berkshire Hathaway-backed digital banking behemoth based in Brazil, cut the targeted price range for its planned IPO by about 18% this week.

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N26 to wind down US operations, closing 500,000 accounts

N26 to wind down US operations, closing 500,000 accounts

N26, a Berlin-based neobank which operates in 25 countries and boasts more than 7 million customers (including 500,000 U.S. customers), is considering a slowdown of its U.S. market outreach.

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Fintech Jiko powers soon-to-launch transgender-focused banking app

Fintech Jiko powers soon-to-launch transgender-focused banking app

Jiko, a banking technology provider that uses customer deposits to buy short-term treasury bills, is partnering with tech platform Euphoria on the company’s launch of a transgender-focused banking app called Bliss.

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Lender Oportun acquires personal-finance app Digit

Lender Oportun acquires personal-finance app Digit

Oportun, a lender focused on the low- to moderate-income segments of the population, announced that it acquired personal-finance app Digit for $212.9M ($98.5M in equity and $114.4M in cash).

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Neobank Stretch aims to serve the formerly incarcerated

Neobank Stretch aims to serve the formerly incarcerated

As neobanks replace the community banks of yesteryear as financial providers for affinity groups – including, for example, immigrants, LGBT consumers, and African Americans – Stretch is looking to zero in on the financial needs of the around 600,000 individuals in the U.S. who have been released from state and federal prisons every year.

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UK neobank Starling plans to go public within two years

UK neobank Starling plans to go public within two years

Starling Bank, one of the U.K.’s biggest challenger banks with millions of customers, is on a trajectory to go public in one or two years, CEO Anne Boden said.

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Chime is reportedly targeting March 2022 for IPO, sources say

Chime is reportedly targeting March 2022 for IPO, sources say

Digital banking fintech Chime – which in August raised $750M on a $25B valuation – is reportedly advancing in its journey to go public, according to a report.

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M1 Finance CEO Brian Barnes buys a bank

M1 Finance CEO Brian Barnes buys a bank

Brian Barnes, CEO of M1 Finance, a Chicago-based fintech that offers automated investing, borrowing and banking services, announced that he acquired First National Bank of Buhl, as an individual.

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With 24% bump in profit year-over-year, JPMorgan Chase leans into acquisitions

With 24% bump in profit year-over-year, JPMorgan Chase leans into acquisitions

JPMorgan Chase exceeded profit expectations in its third-quarter earnings call this week, progress that aligns with a wider economic recovery.

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Umpqua Bank to merge with Columbia Bank in $5.2B, all-stock deal

Umpqua Bank to merge with Columbia Bank in $5.2B, all-stock deal

Umpqua Bank and Columbia Bank have agreed to merge, bringing together two West Coast institutions which have a combined $43B in deposits.

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Postal banking pilot launches in four cities as USPS explores financial services

Postal banking pilot launches in four cities as USPS explores financial services

The U.S. Postal Service is launching a pilot program in four cities in an effort to deliver financial services to underserved Americans.

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ICYMI: Google pulls back on bank-account plans

ICYMI: Google pulls back on bank-account plans

Google, which had planned to launch bank accounts under the Plex brand, announced it was abandoning the initiative in favor of “digital enablement for banks and other financial services providers.”

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