Category: FinTech News

Square Introduces Square Installments Option for Financing Purchases

FinTech firm Square announced this week that is was launching a new product that will make it easier for merchants to offer customers financing on large purchases. Dubbed Square Installments, the company says it's hoping this new feature will help small businesses make more sales and allow them to better compete with larger businesses that may have already had financing options in place. Furthermore in a press release the company said, "Square...

Bank of America Adds One-Tap Investing Access to Mobile App

In a 21st century upgrade that Senator Glass and Congressman Steagall would sure shake their heads at, Bank of America has unveiled new features that make it easier for banking customers to access their investments via a streamlined app experience. Now, instead of needing to log into the Merrill Lynch app when switching over from the BofA application, users will simply need to make a single tap to be transported to...

Senator Elizabeth Warren Criticizes Treasury Department Report on FinTech

It seems the latest FinTech news has been less about funding rounds, acquisitions, or IPOs and has instead been dominated by talks of regulation. Just a couple of weeks ago New York Department of Financial Services superintendent Maria Vullo filed a lawsuit against the Office of the Comptroller of the Currency, seeking to stop the agency from issuing national bank charters to FinTech firms. Not long after that the Senate Banking Committee also...

Acorns Launching "Money Lab" to Find Financial Wellness Solutions

If you follow FinTech, there's a good chance you've heard of the micro-investing app Acorns. Using painless savings methods such as their "Round Ups" feature, Acorns aims to make investing easy and help its users to improve their finances Now the company is looking to further that goal with the launch of Money Lab. Today at Yahoo! Finance's All Markets Summit, the company announced that it was bringing Shlomo Benartzi of...

New York State Regulator Suing OCC Over FinTech Charters

Just over a month after the Office of the Comptroller of the Currency began accepting applications from FinTech firms to become Special Purpose National Banks, one state regulator is now suing the federal government in hopes of halting those charters. Reuters reports that New York has filed a lawsuit suggesting that the FinTech charters are unconstitutional and in violation of the 10th amendment. The suit also accuses the OCC of overstepping the...

FinTech App Robinhood Eyeing Initial Public Offering

2018 has been a pretty good year for the stock trading app Robinhood. Earlier this year the company introduced Robinhood Crypto, allowing users to buy and sell various cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and others. Additionally the app recently introduced support for options trading. Now, speaking at TechCrunch Disrupt SF, Robinhood CEO Baiju Bhatt revealed that the company is currently looking to go public. As part of his announcement, Bhatt explained that the...

Bitcoin, Other Cryptos Get Hit on Bad News

The rollercoaster experience that comes with cryptocurrencies seems to be in full effect this week, with Bitcoin and others falling significantly. In less than 24 hours, $BTC plunged from a high of around $7,380 to a low of nearly $6,400. Notably that puts the currency below the $7,000 mark, which as Forbes notes has been regarded as a psychological milestone. As usual, it's hard to say exactly what is causing this...

Survey Asks "What Could Help Spur Mobile Wallet Adoption?"

There's no doubt that the use of mobile wallets and contactless payments have increased greatly over the past few years. However, in spite of this, adoption still hasn't reached the levels that some had previously predicted. This has led companies like Apple, Google, Samsung, and Chase to explore various plans with the hopes of bringing more users to their payment solutions. Now a survey from Vibes (as reported on by...