Chime is getting into the earned wage access business. The leading digital bank announced yesterday that it is launching MyPay, a new earned wage access service that will allow customers to access up to $500 of their paycheck before payday. There are no mandatory fees but if a customer wants to receive the money instantly they will […]
Los canales digitales se han convertido en el principal objetivo de fraude para empresas minoristas y financieras en América Latina, según un reciente estudio solicitado for LexisNexis, revelando el costo no deseado del fenomenal y rápido proceso de digitalización que están experimentando las principales economías de la región. Según el estudio, que contó con una […]
Over the past few years, many issues have surfaced in the banking and fintech sectors due to the growing complexity of financial crimes. This has resulted in fines for non-compliance, and AML violations doubled in value, reflecting the severity of the regulatory response. The main problems in 2023 were not reporting suspicious activity, lacking proper […]
Visa is hosting its annual Visa Payments Forum in San Francisco this week, and yesterday, there were some major announcements. Some are calling this the biggest thing in card payments since the card chip. Here is a breakdown of the major announcements: Passkeys – confirm a consumer’s identity and authorize online payments with a fingerprint or […]
When I interviewed Stash CEO Liza Landsman earlier this year, she mentioned she was excited about the new B2B platform the company was launching in Q2. Today, Stash has launched StashWorks, what they are calling the “first automated savings solution that rewards your employees for achieving their financial goals.” While Stash has made a name […]
Enjoying our podcasts? Don’t miss out on future episodes! Please hit that subscribe button on Apple, Spotify, YouTube, or your favorite podcast platform to stay updated with our latest content. Thank you for your support! Brendan Carroll, Co-Founder & Senior Partner of Victory Park Capital In the early days of the online lending space, when it came to institutional […]
While both Generation Z and millennials are maturing during difficult financial times, TransUnion’s study Solving for Z shows Generation Z has it harder. Solving for Z compares the credit usage of 22-24-year-olds today to how folks the same age fared a decade ago. Generation Z is an emerging force. They are already half the size […]
Yesterday, in a 7-2 vote, the U.S. Supreme Court ruled that the funding structure of the Consumer Financial Protection Bureau is constitutional. This is a big deal for financial institutions. Even though the agency has been a thorn in the side of many fintechs and banks, if the Supreme Court found it unconstitutional, it would undo more […]
Embedded consumer lending offers many benefits over BNPL. Working with a BaaS provider like Finastra allows banks to control their roadmap in an increasingly bust sector. Finastra’s lead client partner for embedded finance and BaaS, Venu Appana, said there is opportunity for financial institutions of all sizes, embedders, and merchants. That is due to several […]