Stay up to date on the latest trends in FinTech – where technology meets finance to create new market opportunities.
FinTechOverall 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.
FinTechPayPal 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.
FinTechUpgrade'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 on funds they've drawn.
FinTechThis week Bancor debuted their Bancor Wallet, which currently allows users to convert between 65 different cryptocurrencies. The wallet also allows customers to purchase crypto with a credit or debit card and convert to any available token.
FinTechWhile 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.
FinTechOn the one hand you could argue that getting students to learn about investing early on is actually a good thing, even if they're using loan money to do it. Then again one of the important lessons of investing is not to risk anything you can't afford to lose.
FinTechBanks have been working to enhance their security and verification — especially as more and more customers do their banking online and on mobile phones. While they may be effective in preventing fraud, some of these methods have also proven pain points for consumers, putting banks in a lose-lose situation.