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 […]
On Friday, the CFPB announced it was suing mobile peer-to-peer lending platform SoLo Funds for multiple issues. SoLo Funds targets minority and other underserved borrowers with short-term loans of up to $575. This is a challenging population to serve and a difficult niche to profit from. The CFPB alleges that SoLo Funds has misrepresented the cost of […]
Speaking at an event yesterday, CPFB Director Rohit Chopra said his agency is looking at “price gouging” in credit reporting. With credit reports required for selling mortgages to Fannie and Freddie, mortgage lenders have no choice but to pay for them. Some lenders have shared that the costs for credit reports have increased by up to 400% […]
Brazilian digital bank Nubank got off to a great start in 2024. The digital bank booked a $380 million net profit during the first three months of the year as it accelerated its pace of cross-selling and continued to expand its customer base. The Latin American fintech flagship, operating in Brazil, Mexico and Colombia, reported […]
Mobile payment rates, active digital bank users, and chatbot deployment are some of the numbers on the rise in a report from Alkami and Cornerstone Advisors. The Digital Banking Performance Metrics report compiles data from 81 financial institutions, including 39 banks and 42 credit unions, with an average asset size of $4.6 billion. Some findings […]