Lending

Top 5 Reasons to Read Ron Shevlin’s New(ish) Book

Top 5 Reasons to Read Ron Shevlin’s New(ish) Book

by May 22, 2015 at 11:28 am 0 comments

In a sense, if you’ve been reading Ron Shevlin’s Snarketing 2.0 blog, now part of The Financial Brand, you have already read his book Smarter Bank, published Jan. 30. Much of the material is familiar, but lacking the vibrant comment section that followed those online posts. So why would anyone in FinTechRead More

Venture Funding for FinTech Climbs 62% YOY, New Data Shows

Venture Funding for FinTech Climbs 62% YOY, New Data Shows

by May 21, 2015 at 11:49 am 0 comments

FinTech venture funding continues to increase. A total of $520 million was invested in financial services startups last quarter, up from $289 million during the last quarter of 2014 and $321 million, in the same quarter last year — a 62% year-over-year increase — according to new data from PricewaterhouseCoopers’s MoneyTreeRead More

BankMobile Offers ‘VIP Experience’ to Lure Millennials

BankMobile Offers ‘VIP Experience’ to Lure Millennials

by May 20, 2015 at 5:16 pm 0 comments

Customers depositing $1,500 a month into their BankMobile accounts will automatically qualify for a VIP service, which includes refunding all ATM fees incurred, and access to a financial coach, the company announced today. The move signals the bank’s need for deposits and depositors. BankMobile’s explicit target group is millennials, but theyRead More

PayPal Hit with CFPB Fine for ‘Illegally’ Pushing Credit Products

PayPal Hit with CFPB Fine for ‘Illegally’ Pushing Credit Products

by May 19, 2015 at 12:10 pm 0 comments

PayPal will pay $25 million for allegedly signing customers up for its credit products without permission, $10 million to the Consumer Financial Protection Bureau (CFPB) and $15 million to consumers, the bureau announced today. PayPal is accused of deceptively advertising promotions it does not honor, and pushing customers into its credit products without properRead More

Moven Preps PayPal Integration, Global Growth

Moven Preps PayPal Integration, Global Growth

by May 15, 2015 at 11:53 am 0 comments

Moven is expanding to new geographies and increasing customers’ money movement options with a PayPal integration. Financial services these days are built on APIs, integrations, and partnerships. Which systems can you connect to make your customer’s life easier? Which partners can help you fulfill your mission of building the best productRead More

In the Bank Account of the Future, Context is King

In the Bank Account of the Future, Context is King

by May 14, 2015 at 11:51 am 0 comments

SAN JOSE, Calif. – Three companies gave Finovate attendees a look at the bank account of the future yesterday: Moven, CBW Bank/Yantra Financial, and NAMU. The second and concluding day of the conference saw 31 companies show their wares, and a major theme was providing context around transactions. As RonRead More

Purge the Word ‘Frictionless’ from Banking

Purge the Word ‘Frictionless’ from Banking

by May 13, 2015 at 8:59 am 3 comments

SAN JOSE, Calif. — It’s time to relegate the phrase ‘frictionless’ to the FinTech trashbin. It will join words such as “omnichannel,” “disruption,” and “mobilefirst” in exile. All were used so often that they lost all meaning and just plain got on everyone’s nerves. Removing friction from financial services — with orRead More

Rare Commercial RE Finance Startup Gets Funding

Rare Commercial RE Finance Startup Gets Funding

by May 12, 2015 at 10:35 am 1 comment

A rare commercial real estate finance startup scored an $8 million funding round yesterday. Credifi, an Israeli company, secured the Series A funds from Battery Ventures, Carmel Ventures, and OurCrowd. This is the only funding Credifi has completed since its launch in 2014. A few CRE startups have surfaced recently. There is Realty Mogul,Read More

Affirm Hiring Push Starts Not a Week After Raising $275 Million

Affirm Hiring Push Starts Not a Week After Raising $275 Million

by May 11, 2015 at 5:51 pm 0 comments

Well, that didn’t take long. Affirm is not a week from its $275 million round of fundraising, and already it is looking to add staff. The company this week began soliciting applications for three new positions: director of manager of consumer risk; “customer success manager”; and recruiting coordinator/junior recruiter. ThatRead More

Mega Social Media Data for Financial Services Has Arrived

Mega Social Media Data for Financial Services Has Arrived

by May 7, 2015 at 11:24 am 2 comments

It wasn’t too long ago that the suggestion that social media data could feed financial services underwriting and products was, well, dubious. Yes, we paid it lip service — isn’t it cool that OnDeck and Lenddo are using social media to make loans? The lip service ends today. Like a slow-moving glacier thatRead More

Affirm’s $275M Round Coincides with Climbing Traffic

Affirm’s $275M Round Coincides with Climbing Traffic

by May 6, 2015 at 9:53 am 3 comments

Affirm Inc., the POS lender, closed a $275 million round today, which coincides with climbing traffic. The site is now hosting around 80,000 unique visitors a month. SimilarWeb.com estimates that Affirm.com is getting around 250,000 visitors per month now. By comparison, PayPal.com, the site Affirm’s founder, Max Levchin, helped launch,Read More