Industry leaders often refer to the a16z prediction that every company would become a fintech company when talking about embedded finance. However, as the space has developed and that prediction comes closer to being true, deficiencies are starting to emerge. Earlier this year, regulators issued a consent order to Cross River Bank, a banking-as-a-service provider, […]
For years, Big Tech has been edging in on financial services, largely without the regulatory constraints befitting a bank or credit union, despite operating similar services. But that may all come to an end soon if the CFPB’s latest proposal comes to pass. Yesterday, the CFPB proposed supervision of “larger nonbank companies that offer services like digital […]
Marqeta reported third-quarter 2023 financial results after the bell yesterday and overall it was a solid quarter. The company reported a total processing volume of $57 billion, which is a 33% increase year-over-year from $42 billion in the third quarter of 2022. They reported an adjusted EBITDA loss of $14 million in the third quarter […]
InformedIQ helps lenders find opportunities in today’s challenging environment while others pull back. The main difference is who embraces AI. Co-founder and CEO Justin Wickett saw how technology could help lenders provide fair credit access while lowering operating costs. With partners, they built a company with a mission to reduce the cost of credit using […]
Despite card payments now out-ranking ACH and checks as the payment method of choice for bills, 37% of American billpayers still use them regularly. ACH offers a better alternative to the friction and speed of checks, but users still experience problems. “Today, there are still trillions of dollars of business that runs on ACH and […]
Alana Levine, CRO, and Nicky Senyard, CEO and Founder of FintelConnect Hi guys, welcome to the Fintech Coffee Break. I’m your host Isabelle Castro. This week I shared my coffee break with Alana Levine and Nicky Senyard from FintelConnect to talk about affiliate marketing and the role of the influencer in building big name financial […]
After the highs of 2021, fintech funding came crashing down. As 2022 rolled out, it became clear the bubble was no more. As inflation started to creep up, cash-strapped startups started to fall, and the drops seen in public markets started to ripple into private. At the beginning of this year, the trend continued. Valuations […]
A new report from Trustwave SpiderLabs provides a rich description of the myriad of threats facing financial services companies. 2023 Financial Services Sector Threat Landscape covers prominent threat actors and tactics, breaks down the financial services attack flow into steps, and covers several common hacker entry points. Financial services firms are especially vulnerable to leaks […]
Last week, in a weirdly confusing yet optimistic press release, we heard that OG budgeting app Mint was shutting down and directing its customers to Intuit’s similar service, Credit Karma. To some, it may have come as quite a surprise. For at least a decade, Mint, launched in 2006, reported that its user base was […]
We have something for everyone in the news this week. There was a small news item in the crypto space, a new product launch, some AI news, a product is shutting down and we have small business lending news. Have a great weekend everyone. Here are the top five news stories in fintech this week: […]