It’s a truth universally acknowledged that fintech startups need banks and the services — not to mention the regulatory protections — they offer. Berlin-based “fintech company builder” FinLeap has taken this to its logical conclusion by building a licensed bank for its startups to leverage. The result, called solarisBank, markets itself as aRead More
Post Tagged with: "The Bancorp"
FinTech Acquisition Corp., created to acquire a fintech company, has fulfilled its mission. The Philadelphia-based company announced yesterday it would acquire CardConnect, a payments processing platform. Terms of the deal were not disclosed. CardConnect is currently majority owned by FTV Capital, a growth equity investor in payments companies. FinTech Acquisition Corp. hadRead More
The clock is ticking on FinTech Acquisition Corp. FinTech Acquisition Corp, believed to be the only “blank check” company in the fintech sector today, has by rule until Aug. 19 to consummate an acquisition with its $100 million, or face dissolution. A “blank check” company’s sole purpose is to make an acquisitionRead More
Google has split its Wallet service into Android Pay and a Venmo-like peer-to-peer payments service. Now Google appears to have started to phase out the Google Wallet Card, which is a debit card issued by The Bancorp. To be sure, consumers can still order a Google Wallet Card here — IRead More
It is a sad truth: AML violations have cut the innovation practice at The Bancorp. The Bancorp, which released earnings yesterday, arguably has been a leading advocate for fintech over the last several years, notably providing the bank charter behind Simple. But The Bancorp is facing regulatory scrutiny for itsRead More
Frank M. Mastrangelo has been abruptly replaced today as chief executive officer of The Bancorp, a key player in the fintech sector. Mastrangelo first joined The Bancorp [ticker: TBBK] in September 1999, coming on board as its president after a stint as chief technology officer at Jefferson Bank based inRead More
The Bancorp, which is the rent-a-banking-license for many top fintech ventures, is in danger of being delisted by Nasdaq. Last Friday, The Bancorp [ticker: TBBK] disclosed that it once again missed its deadline for filing its 2014 financial disclosures to Nasdaq. The Bancorp has not released financial information since lastRead More
Prepaid is a great business for card issuers — but it’s one regulators are looking at with growing interest. For bankers, those are scary words.
As The Bancorp faces difficulties in prepaid, American Express wants to deepen its involvement with its prepaid customers — so much so that the company is giving $5 to Serve customers willing to verify their email addresses.
Just as The Bancorp‘s stock was plummeting 30% after the company was hit with a Federal Deposit Insurance Corp. consent order over too-lax anti-money laundering practices in its prepaid card business, the company’s chief executive officer did something unexpected: she bought more company stock. Betsy Z. Cohen, The Bancorp’s CEO, purchasedRead More