Category: FinTech News

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 this year. Back in February, Switch unveiled CardSavr as a way for card issuers to allow customers to utilize new...

Global Accelerated Ventures Announces FinTech Startup Challenge

Next February,  Global Accelerated Ventures (GAV) will award more than $100,000 to innovative startups as part of their inaugural FinTech Challenge competition, sponsored by FIS. Set to take place February 6th and 7th at the Florida Theater in Jacksonville, this elimination-style event invites companies exploring blockchain, banking, payments, and other spaces to participate. In addition to crowning winners in different categories, a final round of competition will also name the GAV FinTech Startup of the...

Walmart Exec Gives Update on Retailer's FinTech Efforts

Of all the retailers you might expect to be pushing forward the adoption of digital wallets and other FinTech products, Walmart is probably not be first on your list. And yet the mega-chain has been doing just that via their Walmart Pay option, partnerships with PayPal, and more. That's why the technology site Benzinga recently invited Walmart's head of digital wallets Karla Allen to speak at their 2018 Benzinga FinTech Summit in...

P2P Lender Prosper Announces Plans for HELOC Product

When it comes to being a FinTech "disruptor," stagnation can easily mean death. Because of this, companies in the business of revolutionizing finance and technology are constantly looking for new markets to enter and ways to improve their product. In some cases — as we recently saw with OnDeck spinning off its platform — this could also mean leveraging your strengths to help improve how other companies operate. On that note,...

OCC to Continue FinTech Plans Despite Legal Challenge

Even before the Office of the Comptroller of the Currency (OCC) announced official plans to offer FinTech companies national bank charters, there were lawsuits in place to stop such a move. Although a judge dismissed one round of complaints saying they were premature, the Conference of State Bank Supervisors (CSBS) filed suit against to OCC just a couple of weeks ago following a similar suit by New York Department of Financial Services (NYDFS)...

OCC Faces Another Lawsuit Over FinTech Charters

Weeks after New York Department of Financial Services superintendent Maria Vullo filed suit against the Office of the Comptroller of the Currency (OCC) in a bid to halt the agencies issuance of FinTech bank charters, more state regulators are following in Vullo's footsteps. As Reuters reports the Conference of State Bank Supervisors (CSBS) has filed a complaint in Washington D.C., arguing that the Special Purpose National Bank charters should not move forward. This...

JP Morgan Chase to Open FinTech Campus in Palo Alto

JP Morgan Chase is headed to Silicon Valley. The bank's CEO Jamie Dimon recently announced that it was working to create a new campus in Palo Alto that will house more than 1,000 employees and focus on finding new FinTech solutions. Currently the opening of this new campus is set for 2020 while greater development and planning for the space will kick off next year. As CNBC reports, Dimon has said that...

OnDeck Spinoff Company to Create FinTech Lending Solutions for Banks

This week FinTech lender OnDeck announced that it was spinning off a new company that will bring online small business lending solutions to banks. Known as ODX, the software as a service (or "SaaS") operation will partner with institutions in order to offer their customers small business loans. This includes allowing the banks to accept online applications and issue capital in as little as one day. In a statement announcing the formation...