Pinwheel’s new partnership with Jack Henry will help the latter’s clients win primacy with more clients. It is also a perfect example of how fintechs can rapidly widen their reach in a competitive environment. The union makes Pinwheel’s direct deposit-switching solution accessible via Jack Henry’s digital banking platform. Pinwheel used the Banno Digital Toolkit to […]
Yesterday, Apple shared details on Apple Card usage for the first time. The card was introduced in 2019 and since then it has acquired 12 million users, not a bad effort in less than five years. Users earn Daily Cash rewards when they use the card and Apple reported that the total for 2023 was over $1 […]
Argentine payments fintech Pomelo secured $40 million in a Series B funding round led by Kaszek Ventures, taking its total funding to over $100 million since its inception. Founded in Buenos Aires in 2021, the company offers payment infrastructure capabilities to fintechs and tech startups seeking to launch online accounts, credit cards, or debit cards. […]
The largest small business lender that you may not even know exists is Amazon Lending. The tech behemoth loans out billions of dollars every year to small businesses on its marketplace. Today, we learned about a new fintech partnership Amazon is entering into with SellersFi (formerly Sellers Funding). SellersFi is a seven-year-old small business lending fintech focused on e-commerce platforms. They […]
As B2B payment technology catches up to other areas of fintech, TreviPay CEO Brandon Spear said exciting trends are emerging. In late 2023, TreviPay released the B2B Buyers Payments Preference Study. It updates similar research conducted in 2019. The report details how B2B buyers are frustrated by the purchasing experience. Inefficient processes, inaccurate invoices and […]
It was only Thursday of last week when our lead story was about the challenges banks were facing in the Banking-as-a-Service space. Then Friday we learned that Blue Ridge Bank was hit with its second regulatory action in less than 18 months and is now deemed to be in a “troubled condition”. Kudos to our unofficial fintech […]
It is a bold or naïve CEO that prefaces a major announcement with the words, “This will shock the world”. New PayPal CEO Alex Chriss said exactly that in his first public interview since becoming CEO. That was a week ago and he was referring to major announcements that would happen at the company’s Innovation Day that […]
SoFi reported earnings today for Q4 2023 and it was a blowout quarter despite the challenging macroeconomic environment. The big story was the company achieving profitability (officially GAAP net income profitability) in Q4, a first for SoFi. There was also a 35% year-over-year increase in adjusted net revenue, reaching $2.1 billion, and a significant boost […]
It is a bold or naïve CEO that prefaces a major announcement with the words, “This will shock the world”. New PayPal CEO Alex Chriss said exactly that in his first public interview since becoming CEO. That was a week ago and he was referring to major announcements that would happen at the company’s Innovation Day that […]
The SEC’s new cybersecurity rule is designed to protect investors and ensure companies take security seriously. But it creates as many questions as it answers. Public companies must report material cyber incidents within four days. They must also describe its impact, including whether data was publicly disclosed and the steps they took to mitigate the […]