Lending

PayPal Revenue Surpasses EBay Marketplaces As Spinoff Nears

PayPal Revenue Surpasses EBay Marketplaces As Spinoff Nears

by April 23, 2015 at 11:13 am 1 comment

PayPal is ready to go its own way. Revenue for PayPal exceeded that of its sister unit, eBay Marketplaces, for the first time in 1Q, it was revealed in yesterday’s earnings call for eBay Inc. PayPal posted $2.1 billion on the quarter, compared with $2.06 for Marketplaces. PayPal’s revenue was 14% higher thanRead More

Marketplace Lenders Share a Major Concern with Banks: Finding Borrowers

Marketplace Lenders Share a Major Concern with Banks: Finding Borrowers

by April 15, 2015 at 3:01 pm 0 comments

Marketplace lending is booming — but where are the borrowers? The LendItUSA event, taking place in New York this week, has trumpeted the victories of marketplace lending, and they are considerable: $9 billion in consumer loans written by marketplace lenders in the US alone in 2014, not to mention $5 billion in smallRead More

Average Pay for Fintech Software Engineers Tops $100k

Average Pay for Fintech Software Engineers Tops $100k

by April 9, 2015 at 9:56 am 1 comment

The average salary for a fintech software engineer is now more than $100,000, according to a Bank Innovation analysis. The exact average salary for a software engineer — a bread-and-butter position for a technology startup — is $100,188. With all the talk of an “overheating” fintech venture capital market, keeping an eyeRead More

Green Dot Diversifies Ahead of Regulatory Risk & Walmart Worries

Green Dot Diversifies Ahead of Regulatory Risk & Walmart Worries

by April 7, 2015 at 1:35 pm 0 comments

You can’t accuse Green Dot of standing still. In the past several weeks, the prepaid-player-turned-bank has added functionality and diversified its channel mix. A mid-March move to increase functionality on its cards and acquire two competitors, came on the heels of a January announcement of two forthcoming credit products. But looming overRead More

TransUnion’s Database on Consumers Grows 25% — Every Year

TransUnion’s Database on Consumers Grows 25% — Every Year

by April 6, 2015 at 6:45 am 1 comment

Do you know what a petabyte is? Well, TransUnion — which filed for an IPO last week — has 30 of them, and that number has been growing 25% every year since 2010. Those 30 petabytes (1 million gigabytes, for those of you who are not “Big Bang Theory” cast members)Read More

Startup Coinshark.io Wants You to Pay Your Mortgage with Bitcoin

Startup Coinshark.io Wants You to Pay Your Mortgage with Bitcoin

by April 3, 2015 at 9:30 am 4 comments

A new startup is looking to innovate in a space that has largely been bypassed by FinTech: mortgages. There has been a great deal of action in the alternative lending space, but outside of student-loan specialist SoFi, most startups have stayed away from home loans. New entrant Coinshark.io is bringing a FinTech focus to mortgageRead More

A still from Final's video. Final looks to replace credit cards with static numbers

Just 9 FinTech Startups Present at Y Combinator’s Demo Day

by March 25, 2015 at 11:46 am 2 comments

More than 100 companies demoed at Y Combinator’s Winter Demo Day, which runs for two days and concluded yesterday. Fintech, however, was not particularly well-represented. Just nine fintech startups in all presented. Y Combinator is arguably the leading incubator in Silicon Valley, which is why fintech’s under-representation this week at DemoRead More

Is Facebook Paying $0 for Payment Processing?

Is Facebook Paying $0 for Payment Processing?

by March 24, 2015 at 10:41 am 1 comment

One of the rumors circulating around Facebook’s new payments service is that the social media giant will not pay even 1 basis point to process payments. While this is just an unlikely rumor, the scuttlebutt is indicative. It shows that: a) Facebook may have negotiated hard with the payments networks; b) theRead More

Is There Hope for Community Banks?

Is There Hope for Community Banks?

by March 20, 2015 at 10:26 am 2 comments

Most Americans would like to do their banking with a community institution, but don’t. This is bad news for community banks. A survey released last week, the 2015 Consumer Banking Insights study, notes that Americans feel very positively about community banks and and credit unions. The study was sponsored byRead More

10 Coolest Brands in Banking 2015

10 Coolest Brands in Banking 2015

by March 19, 2015 at 11:55 am 8 comments

How do you define “cool”? The Urban Dictionary (which is way cooler than other dictionaries) says “cool” is: An adjective referring to something that is very good, stylish, or otherwise positive. [As in,] Your computer is very cool. Welcome to our fourth annual list of the 10 financial services brandsRead More

Bank Innovation, Open Bank Project Form API Research Partnership

Bank Innovation, Open Bank Project Form API Research Partnership

by March 16, 2015 at 11:16 am 4 comments

Bank Innovation has teamed with the Open Bank Project to conduct a research initiative surrounding the use of APIs in banking. Specifically, Bank Innovation and the Open Bank Project will undertake a research survey to better understand how banks worldwide are prioritizing API initiatives and why. We intend for the query to uncoverRead More