Articles by: JJ Hornblass

OnDeck Is Largely Ditching Marketplace Lending

OnDeck Is Largely Ditching Marketplace Lending

by May 4, 2016 at 12:19 pm 0 comments

A deep read of OnDeck Capital‘s earnings report yesterday reveals this truth: the company is moving away from marketplace lending. OnDeck is largely ditching funding through marketplace in favor of more traditional sources of capital, such as securitization — no small development considering that OnDeck is a standard bearer of the marketplaceRead More

Uber Deal Bolsters Alipay as ‘Global Lifestyle Super App’

Uber Deal Bolsters Alipay as ‘Global Lifestyle Super App’

by May 3, 2016 at 10:51 am 0 comments

Uber’s deal with Alipay is more than just a win for riders of black cars. The deal moves Alipay further toward its goal of becoming a “global lifestyle super app” — Alipay’s words, not ours. Ant Financial, which operates Alipay, recently raised $4.5 billion in what is being called the largestRead More

Say Hello to Our Spring 2016 Class of Startups

Say Hello to Our Spring 2016 Class of Startups

by April 28, 2016 at 11:00 am 0 comments

Bank Innovation INV, this blog’s fintech accelerator, is pleased to today to announce the six extraordinary startups that have been admitted to its inaugural class. The companies selected from applications received from startups around the world are: CrossCues Dyme GoldBean Hermetic Security Spare We Are Briqs The companies, chosen after aRead More

How Payments Is Fueling China’s E-Commerce Megaboom

How Payments Is Fueling China’s E-Commerce Megaboom

by April 20, 2016 at 9:56 pm 0 comments

HONG KONG — The numbers are in “holy *$#%” territory. “The numbers” are for e-commerce sales in China, and they are astounding. In the first two months of 2016, China’s online retail sales hit $98.2 billion, an increase of 27% over the previous year. That puts it on pace to hit around $590Read More

ClearXchange Partners Lagging Bank of America by ‘Months’

ClearXchange Partners Lagging Bank of America by ‘Months’

by April 15, 2016 at 9:48 am 1 comment

Bank of America Corp. needs to wait “a few months” for its clearXchange partners to catch up to it. The megabank’s CEO, Brian Moynihan, said yesterday that clearXchange was “a few more months” from “heavy” marketing of the P2P payments platform. The holdup? The other partners. “We’re up and operatingRead More

Payments in Iran Now Said to Be Possible

Payments in Iran Now Said to Be Possible

by April 12, 2016 at 12:03 pm 2 comments

Yet another barrier to business in Iran appears to have fallen. Paymentwall, a San Francisco online payments company, announced today that it has integrated its payment services into the Shetab, which is Iran’s “unified, electronic clearance system for the entire Iranian banking operations that allows it to facilitate transactions fromRead More

SAFE Deal Structure Gains Momentum

SAFE Deal Structure Gains Momentum

by April 8, 2016 at 10:28 am 0 comments

Back in the days of the internet boom, it was straight up equity, then it became convertible notes. Now, the SAFE deal structure is gaining momentum as the structure of choice for certain investments in fintech startups. This after Y-Combinator, the incubator, posted details on its SAFE agreements last February. SAFE, whichRead More

FedEx Gets Deeper Into the Digital Payments Business

FedEx Gets Deeper Into the Digital Payments Business

by April 7, 2016 at 9:31 am 0 comments

Welcome to FedEx, the payments business. Amazon may be taking on FedEx in its core delivery business, but FedEx is also beefing up its competition with Amazon, as well as digital payments companies the world over. In an effort to capture a larger slice of the growing e-commerce market, FedEx re-launchedRead More

Tesla Model 3 prototype

This Guy Just Reserved His Tesla 3 with Bitcoin

by April 4, 2016 at 1:39 pm 0 comments

Of the more than 250,000 people who have pre-ordered a Tesla 3 in the last three days, one guy stands out. That guy is Mason Borda, a software engineer at BitGo, a bitcoin security firm. Borda uniquely has figured out how to pay for his $1,000 Tesla 3 reservation with bitcoin — 2.413612 bitcoins,Read More

Splitit’s CEO Sees Installment Credit Trending Up in the U.S. [VIDEO]

Splitit’s CEO Sees Installment Credit Trending Up in the U.S. [VIDEO]

by April 1, 2016 at 4:53 pm 0 comments

What’s the future of installment credit globally, and in the U.S. specifically? Alon Feit, the CEO and Co-Founder of Splitit, which provides such POS, retail financing, told Bank Innovation that installment credit is trending higher. There’s much going on in the space — and at Splitit, in particular — andRead More

It’s Getting GUI Out There

It’s Getting GUI Out There

by March 31, 2016 at 11:01 am 0 comments

All that GUI out there might just change fintech forever. Increasingly, developer-level applications are offering up their wares not as “only a math Ph.D can figure it out” interfaces, but with GUIs that even I can work with. A GUI, of course, is a graphical user interface, and having one meansRead More

Millennials’ Mobile Banking Usage Is Now Close to 70%

Millennials’ Mobile Banking Usage Is Now Close to 70%

by March 30, 2016 at 11:04 am 1 comment

For Gen Y, the rallying cry was, “I want my MTV.” For Millennials, the cry might as well be, “I want my mobile banking.” About 67% of Millennials now use mobile banking, according to a study released today by the Federal Reserve. This compares to 18% for those consumers aged 60Read More