The lack of transparency in the traditional financial system has long caused concern among economists. “A bank’s financial statements provide a depiction of reality, not reality itself,” wrote Robert Bushman in his paper on transparency and bank stability. Every quarter, the industry is provided with a snapshot of financial institutions’ health, isolated within the confines […]
An entire sub-niche of fintech has emerged in the last five years. Given the API economy that has been developed, it is now possible to connect in real-time to most sources of income for the vast majority of the population. This has enabled completely new products to be developed and made some existing products much […]
Affirm CEO Max Levchin opened the company’s earnings call with positivity and pride – a far cry from six months ago. RELATED: Job cuts and missed targets: Affirm’s earnings call In a letter sent to investors prior to the call, Levchin took stock of the past year, reiterating the company’s commitment to reaching profitability. In […]
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 { […]
On August 17, 2023, the Federal Reserve Board and Washington State Department of Financial Institutions (WSDFI) announced an enforcement action against Farmington State Bank and its holding company, FBH Corporation. The Fed and WSDFI found that the bank improperly changed its business plan without notifying the bank’s supervisors and obtaining prior approval for those changes […]
Rodney Williams of SoLo Funds The first wave of fintech focused on helping those people who already had money. The bottom half of the population was mostly ignored, and those companies that did try failed to get traction. But in recent years, there has been a new breed of fintech company emerging squarely focused on […]
How many times have you heard the word AI this week? It’s all everyone is talking about. And the real estate sector is no exception to this latest trend. In real estate, this revolution is led by mortgage lending where processes are the easiest to automate. In today’s swiftly evolving digital environment, mortgage automation is […]
Warren Buffett-backed Nubank reported a 44% increase in adjusted net income in the second quarter, up to $262.7 million, as the digital bank continues to expand its customer base in Latin America. With a market value of approximately $40 billion, Nubank stands as the largest fintech venture in Brazil. It has achieved positive net income […]
Reports of the bank branch’s death are greatly exaggerated, though you soon might be unable to recognize the old boy. The bank branch indeed has a future, especially if one caters to specific groups or is based in certain parts of the world, SunTec Business Solutions President Amit Dua said. Here’s what changed the bank […]
Hi guys, welcome to the Fintech Coffee Break. I’m your host Isabelle Castro. This week I sat down with Joe Robinson, co-founder and CEO of Hummingbird, to talk about generative AI and chat GPT and fighting financial crime. Hummingbird is on a mission to fight financial crime using better communications and technology. AI is a […]