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Plaid Acquires Competitor Quovo

The FinTech firm Plaid has reportedly purchased rival startup Quovo in what amounts to the company's first major acquisition. According to CNBC sources, the deal was valued at just under $200 million, although terms were not officially made public. This news comes just a few weeks after Plaid raised $250...

Global FinTech Funding Reaches High in 2018

It seems that every year over the past several has been dubbed "The Year of FinTech" by someone — and often times for good reason. However, if you were considering bestowing such a title to 2018, you'd have one big stat on your side. As Business Insider reports it proved...

Robinhood Walks Back "Checking & Savings" Announcement

When Robinhood announced their "Checking & Savings" product this past week — something that they had apparently been working on for over two years — they were probably hoping to grab headlines. However, as it turns out, they may have received more than they bargained for when, after announcing their plans...

SIPC Says "Not So Fast" to Robinhood's Savings Account Plans

Yesterday, the investment app Robinhood made headlines by announcing a new checking and savings product that would pay users 3% interest on their money while skipping many of the fees that traditional banks charge. As part of that announcement, the company said that account funds up to $250,000 would be...

Robinhood Gets Into Banking with Checking and Savings Product

The free investment app Robinhood made a splash earlier this year when it announced it would allow users (in certain states) to trade cryptocurrencies on the platform. Now the FinTech is making big news again, but this time with fiat currency. Today, the company announced Robinhood Checking & Savings and...

Majority of Americans Foresee Cashless Future, But It's Not Here Yet

With new credit card technologies, mobile payments, and other such options coming to the forefront, some have wondered when the United States might be transitioning into a cashless society. In fact some merchants are looking to accelerate the process by banning cash from their stores — only for cities like Philadelphia...

FinTech Firm Switch Raises $2 Million in Funding

The FinTech startup Switch has just announced a $2 million funding round — its largest to date. Since its founding in 2013, the firm has sought to help consumers, merchants, and card issuers manage card info online. As GeekWire reports, these efforts culminated in the release of their CardSavr API earlier...