Fintech News Stories
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
Read MoreCapital 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.
Read MoreNubank, 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.
Read MoreN26 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.
Read MoreFintech 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.
Read MoreLender 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).
Read MoreNeobank 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.
Read MoreUK 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.
Read MoreM1 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.
Read MoreWith 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.
Read MoreUmpqua 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.
Read MorePostal 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.
Read MoreICYMI: 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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