Category: FinTech News

Most Americans Are Skeptical About a Cashless Future

It seems that, despite fewer Americans using cash for daily transactions, the majority still can't envision a future where the U.S. would be rid of cash altogether. According to a new study by YouGov and reported on by MarketingCharts, less than half (46%) of the Americans surveyed said they could foresee a cashless economy coming to the country. At the same time only one-fifth of respondents report utilizing cash on...

Seven States Form Alliance for FinTech Licensing

Georgia, Illinois, Kansas, Massachusetts, Tennessee, Texas, and Washington state will share a licensing standard when it comes to money service businesses. This move should help FinTech companies save them both time and money during the process of obtaining licenses in these states.

Starbucks Chief Believes in Blockchain But Not Bitcoin

Given the enthusiastic response that other established brands have received merely by uttering the words "blockchain" or "Bitcoin," it seems it was Howard Schultz's turn to take a swing at it. However the Starbucks CEO wasn't so bullish on the leading cryptocurrency saying, “I don’t believe that Bitcoin is going to be a currency today or in the future." On the other hand, Schultz seemingly opened the door to his company integrating blockchain technology...

Investment App Robinhood to Add Cryptocurrency Trading

Robinhood plans to introduce trading for Bitcoin and Etherum next month with more coin options to follow. Moreover these trades will be made without any transaction fees. Meanwhile the popular Coinbase app charges users between 1.5% and 4% on trades.

Yahoo Launches "Tanda" — A Peer to Peer Savings and Loan App

This week Yahoo Finance launched a new mobile app that offers a twist on peer to peer lending and investing. Dubbed "Tanda," the app connects users and places them into groups where each participant makes monthly payments toward a combined pot. Then the lump sum is then awarded to one individual each month on a rotating basis, meaning each group member will receive the money they contributed back at some...

What's Next for Kodak? Cryptocurrencies

Once upon a time, Eastman Kodak was riding high, becoming nearly synonymous with both film and photography. Unfortunately the new millennium has not been kind to the company, leading Kodak to file for Chapter 11 bankruptcy protection in 2012. However, as displayed at the recent Consumer Electronics Show in Las Vegas, the company has a new comeback strategy: blockchain. Kodak says it plans to launch a new digital currency called KodakCoin. This...

Chase Joins AutoFi for FinTech Auto Financing

Last week JPMorgan Chase continued to grow their FinTech partnership roster, becoming the first national bank to offer auto financing on the AutoFi platform. AutoFi aims to make the car-buying process simpler, allowing users to select a vehicle and apply for financing on various deal websites.

Are P2P Loans Actually "Predatory"?

A new report released by the Federal Reserve Bank of Cleveland is causing waves in the FinTech community as it makes some harsh claims about the practice of peer to peer (P2P) lending — also known as marketplace lending. Among those assertions is the idea that P2P lenders engage in predatory practices, with the report stating, "P2P loans resemble predatory loans in terms of the segment of the consumer market...