Truth be told NerdWallet's new credit card selection tool for Alexa is unlikely to set the world on fire. That said it highlights a growing opportunity for FinTechs and other companies to supplement their current offerings, even if they don't lead to big returns just yet.
Much of the future of financial technology is wrapped up in how quickly technical capabilities advance. While the convenience on the horizon is mind-boggling, it must be approached with caution and sensibility to avoid compromising the privacy and stability of current financial practices.
On top of the record number of deals, increasing mega-deals, and a number of unicorns coming to life, it's also encouraging to see how many American companies are making an impact in the space. So while certain FinTech firms may not have made a major impact on the stock market...
Overall the increasing success of Zelle once again highlights the ability for traditional banks and FinTechs to coexist in harmony. In this particular case having big banks jump on board the P2P bandwagon seems like it could lead to a larger embrace of financial technologies across the board.
PayPal has been adding a number of features, including FDIC insurance on funds, debit cards that can be used for ATM withdrawals, direct deposits for payroll checks, and the ability to deposit paper checks by uploading photos of them.
Upgrade's Personal Credit Lines somewhat resemble HELOCs (home equity line of credit) except that they don't require borrowers to tap their homes for collateral. Instead borrowers are approved for an amount up to $50,000 and can choose how much they'd like to take out at any time, only paying interest...
Considering how many businesses are adopting or looking to adopt a subscription model, it makes sense that a FinTech company like Stripe would take a swing at simplifying the process and allowing smaller startups to jump on board.
While it might not be a life-changing shift — especially since Mastercard says 80% of North American transactions were already exempt from signature verification — this move should have positive effects for both consumers and merchants.