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: […]
Matt Bodkin Matt is a seasoned editorial cartoonist with a Bachelor of Fine Arts from Long Island University. He brings a strong background in the newspaper industry and skills in arts and design to his work. He aims to distill complex issues into funny doodles that resonate with readers. View all posts .pp-multiple-authors-boxes-wrapper.box-post-id-45383.pp-multiple-authors-layout-boxed.multiple-authors-target-shortcode.box-instance-id-1 .box-header-title { […]
The CFPB’s rule on Personal Financial Data rights, implementing section 1033 of the Consumer Financial Protection Act of 2010 (CFPA) is meant to supercharge the drive to open banking. Once finalized and passed, it is the hope that consumers will have more control over their data and competition within the financial services sector. On completion, […]
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! There is no technology that has generated more buzz this year than generative AI. We have all played around with ChatGPT and marveled at […]
Latin America’s leading e-commerce site, Mercado Libre, reported a surge in third-quarter profits. The company booked $359 million in net income, up 178% from $129 million a year ago, driven by robust growth in e-commerce in Mexico and the continued expansion of its fintech division, Mercado Pago. In its financial services arm, net revenue grew […]
The distinction between startups rooted in the finance world and startups that weren’t used to be an obvious one. Startup founders would pick an industry and stay there to grow. If that industry didn’t happen to be banking and finance, as it often wasn’t, then money-related services stuck to the basics, like a basic card […]
Like many others, UK Payment Service Providers (PSPs) have felt the squeeze of the challenging economy. In the past six months, its effects have rippled across the sector, leading to heightened fraud, business costs, and a wave of lost customers. Development in Open Banking could be key. According to a study conducted by EML and Nuapay, […]
Persistence can pay off. Funding Circle started working with the Small Business Administration (SBA) in 2019 to be included in their hallmark 7(a) lending program. Today, we learned that the SBA has approved three new licenses for this program: an Arkansas CDFI, an Alaska CDFI, and Funding Circle. This is a big win for Funding […]
Ed Mallon, CIO of Pagaya Hi guys, welcome to the Fintech Coffee Break. I’m your host, Isabelle Castro. This week, I shared my coffee break with Ed Mallon, Chief Investment Officer at Pagaya. This year has been difficult for lenders and the consumers they serve. Rates are at record highs, and ratings agencies are applying […]