lafgrp + rb20-fi   33

Toast Launches Restaurant Payments Device to Take on Samsung, Square
QUOTE Toast is betting restaurants will choose its own device because it has been designed specifically to survive exposure to the “extreme environment” of a restaurant, from spilled drinks to kitchen heat.

The new product puts Toast—backed by more than $133 million from Generation Investment Management, Bessemer Venture Partners, and other investors—in competition with tablet makers like Samsung and Apple. It also intensifies the startup’s rivalry with other payments technology companies, such as Square, which sells payments software and small credit card-reading devices that can snap onto smartphones.
3PW  FK  RB20-FI 
may 2018 by lafgrp
1Q18 profits: Binance ($200m) is now more profitable than Deutsche Bank ($146m)
QUOTE Binance is barely 8 months old, yet it has already overtaken one of Europe’s biggest banks in profitability. Deutsche was started 148 years ago and has 100,000 employees while Binance was launched last year and has 200 employees.
3PW  FK  RB20-FI 
april 2018 by lafgrp
U.S. Bank Offers New Online Tool for car loan approvals
QUOTE Working with financial technology startup AutoGravity, U.S Bank created a new platform on USBank.com that provides a simplified, streamlined loan application process for users that typically takes just minutes to receive a loan decision.
3PW  FK  RB20-FI 
february 2018 by lafgrp
Meniga
QUOTE Meniga is a global leader in white-label digital banking solutions. Its award-winning products enable the world's largest financial institutions, such as Santander, Intesa, Commerzbank and mBan
RB20-FI 
december 2017 by lafgrp
Nubank investors
$56m from Goldman Sachs [out of $377m total funded]
RB20-FI 
december 2017 by lafgrp
Canada Post's partnership with Amazon Cash stops short of postal banking
QUOTE Amazon Cash launched in Canada earlier this month, and customers can top up their accounts at post office locations across the country. Canada Post's partnership with Amazon is a way to enhance money services the postal provider offers, but it's more of a service add-on and a distribution point for Amazon rather than a full-out foray into banking.
3PW  QN  RB20-FI 
november 2017 by lafgrp
Mobile payment and loyalty platform Yoyo Wallet integrates with Starling Bank
QUOTE The new integration sees Yoyo use Starling’s Open Banking-compliant API to let you link your Starling bank account to your Yoyo Wallet so that whenever you pay at one of Yoyo’s retail partners using your Starling Bank card, you automatically collect any loyalty points on offer. This means that you don’t have to remember to pay using the Yoyo app (or, presumably, a retailer’s white labelled version), which otherwise requires opening the app and scanning a bar code.
3PW  RB20-FI 
november 2017 by lafgrp
Varo
QUOTE Intelligent Mobile Banking With Chatbot, Lending & Savings. Your Varo Bank Account is provided by The Bancorp Bank, Member FDIC, and is insured to at least $250,000.
F566  RB20-FI 
november 2017 by lafgrp
China Citic, Baidu launch direct bank in fintech push
China Citic Bank and Internet search engine Baidu have teamed up to launch AiBank, a direct banking institution that will provide finance management and micro loans, while leveraging AI and big data. The bank is intended to capitalise on the country's growing fintech sector, Reuters noted. "AiBank is the future of intelligent finance...It is an institution that understands customers best and understands finance best", said Baidu Chief Operating Officer Lu Qi.
3PW  RB20-FI 
november 2017 by lafgrp
Brazilian fintech Nubank offers accounts for transfers, payments
Nubank, the Brazilian start-up, is expanding the services it offers as it aims to muscle in on the territory currently occupied by the more mainstream banks. Credit cards have generally been Nubank's area of specialty, but soon they will offer digital accounts so that future customers will have access to services including transfers and bill payments. "Our real revolution begins today. Now we are offering services to 100 percent of Brazilians", founder and CEO David Velez said, per Reuters. Approximately 60 million Brazilians do not have a bank account at present, so Nubank's expansion of services could help reduce that number, depending on how successful they are in relaxing their notoriously stringent credit checks, which have typically been counterproductive to the challenger bank's lofty ambitions.
3PW  RB20-FI 
october 2017 by lafgrp
Fiji: HFC Bank Partnership Introduces Rural, Maritime Services
QUOTE A partnership between the HFC Bank, Vodafone Fiji, the Pacific Financial Inclusion Programme (PFIP) and Epay could see 66,000 Fijians in the rural and maritime areas potential beneficiaries of a new financial service.
3PW  RB20-FI 
october 2017 by lafgrp
Atom Bank to offfer retail savings in Germany
QUOTE partnered with Deposit Solutions in order to launch fixed-rate products for German savers. The partnership allows Atom to diversify its deposit base without having to set up additional retail infrastructure in Germany.
3PW  PDF  RB20-FI 
september 2017 by lafgrp
Fintechs target Brazilian banks’ fat margins
QUOTE Online credit card company Nubank and other upstarts are winning market share
3PW  RB20-FI 
august 2017 by lafgrp
N26 partners with Auxmoney to offer credit to more customers
QUOTE Now, if you go to the 'credit' tab in the N26 app, you'll be asked how much money you want, the duration of the repayment and your current situation. Depending on your status, N26 will automatically suggest the best credit feature for you. So if you're a regular employee with a steady income, N26 will either give you money itself or match you with a third-party bank behind the scene. If you're a freelancer, N26 will suggest lending money through Auxmoney. Both products let you borrow between €1,000 and €25,000 at a duration of one to five years. It's hard to tell you about interest rates as it'll greatly vary depending on how much money you're asking for and your situation."

The P2P lender is ten years in business and has attracted backers including Union Sq Ventures, which also backs Lending Club. Earlier this year Auxmoney announced a €1.5 billion investment courtesy of Dutch insurer Aegon, to be delivered over the next three years.
3PW  RB20-FI 
august 2017 by lafgrp
JPMorgan plan for TPP access
Agreement with data aggregator Finicity will see JPM pushing customer data to Finicity for sharing with fintech apps for Chase customers.

QUOTE Finicity is slightly different from the other data aggregators in that allows its partners, Wells Fargo and Chase, to move data to the third-party fintech apps that work with it (like Mvelopes, Lendio, Drop and PocketGuard), whereas Intuit and Xero use banks' customer information for their own financial applications. JPMorgan was swooping up fintech partners — Zelle, Roostify, OnDeck Capital, TrueCar, Symphony — long before the industry as a whole began embracing collaboration and declaring 2017 the year of bank-fintech partnerships."
3PW  RB20-FI 
july 2017 by lafgrp
Tech companies invade banks’ territory with customer loans
It's several years since Amazon quietly launched its merchant lending offer, which originated $1 billion in the last year alone, and Amazon is now going to expand that lending to two million customers on its marketplace platform. -RL

QUOTE The move is also a sign of a broad shift of power away from the big bricks-and-mortar banks — which have pulled back from small-business lending under tougher post-crisis rules on capital — and from newer online challengers such as OnDeck and Kabbage, which have spent heavily on lead-generation and marketing to unearth creditworthy borrowers"
3PW  RB20-FI  F588 
june 2017 by lafgrp
Virgin Money signs with Jenkins-led startup
QUOTE 10x Future Technologies, the fintech startup established by former Barclays chief Antony Jenkins, has bagged its first major client, securing a contract to build a new digital core for Virgin Money.
3PW  RB20-FI 
november 2016 by lafgrp
Transferwise Moves Away From Banks
QUOTE Working with banks created problems, especially in the U.S., where money transfers are overseen by each state
3PW  RB20-FI 
august 2016 by lafgrp
Meniga | CrunchBase
Meniga is a provider of personal finance software for European banks and financial institutions.
Since 2008 Meniga has been building a best-of-breed Personal Finance Management (PFM) solution that rivals any other available in the world today in terms of functionality, usability, scalability and security.
Our sole focus is to provide services and technologies that enable financial institutions' customers to better manage their personal finances, and allow these financial institution to improve their customer relationship and leverage a holistic view of customers' accounts to cross-sell and attract new business and deposits.
On February 1st 2011, Meniga's White label PFM solution was voted "Best of Show" at Finovate Europe.
F467  RB20-FI 
july 2016 by lafgrp
OnDeck Is Largely Ditching Marketplace Lending
The foundations of marketplace lending are looking increasingly fragile as firms involved in the sector look to curb costs and refocus their business models. OnDeck's first-quarter results revealed that it is now looking to securitisation and other more traditional models as sources of funding as its funding sourced through the marketplace dropped to around 26 percent for the quarter whereas it ranged between 35 and 45 percent in the final quarter of last year.
3PW  DC  RB20-FI 
may 2016 by lafgrp
OnDeck Reports Fourth Quarter and Full Year 2015 Financial Results
QUOTE Net revenue was $42.3 million for the quarter, up 67% from the prior year period.
3PW  DC  RB20-FI 
february 2016 by lafgrp
Central Bank of Kenya warns against use of Bitcoin | The Paypers
QUOTE move comes a day after a Kenyan High Court judge issued a preliminary ruling that telecoms operator Safaricom will not be ordered to Reinstate Bitpesa's access to the M-Pesa mobile money service.
3PW  DC  RB20-FI 
december 2015 by lafgrp
Tencent launches WeChat mobile wallet in South Africa
QUOTE in partnership with Standard Bank. The service lets users of social messaging app WeChat make P2P transfers, pay for services such as airtime, data and electricity and make in-store payments by scanning QR codes at merchants supporting the SnapScan mobile payments platform
3PW  TLR-SM  RB20-FI 
december 2015 by lafgrp
JPMorgan inks lending venture with OnDeck Capital — FT.com
QUOTE Loans to be offered to 4m small-business customers using online lender’s platform
3PW  RB20-FI 
december 2015 by lafgrp
Your bank account: The next thing to go obsolete - Jun. 8, 2015
Abra

To withdraw $100 QUOTE find a bank teller [who charges a commission they choose] near you using your phone's GPS [then] meet somewhere convenient to both of you. Each person then gets a QR code, which one person scans to validate the transaction. Once validated, the teller would give you $100. A deposit works the same way, just in reverse.
3PW  RB20-FI 
june 2015 by lafgrp
BitPesa expands services to Tanzania | The Paypers
QUOTE second country in Africa where BitPesa will be offering their services. Similar to how its service works in Kenya, BitPesa lets anyone in the world send money to any mobile phone number in Tanzania. It is important to notice that all of Tanzania’s mobile money operators are included in this service, giving BitPesa a way to cover the entire country in terms of Bitcoin remittances.
3PW  PH  RB20-FI 
may 2015 by lafgrp
SnapScan launches beacon payments in South Africa | The Paypers
QUOTE system pops up a “pay here” button on the customer’s phone as they come within range of a store’s beacon enabling SnapScan customers to simply tap a button
3PW  RB20-FI 
april 2015 by lafgrp
Mobile payments via Bluetooth launched in SA
QUOTE The new functionality, already available at more than 40 SnapScan merchants...uses beacons to detect where users are, for example, enjoying their lunch or cup of coffee.This means customers won’t have to scan the usual [QR] SnapCode to pay, but will simply click “Pay here” in the app to initiate the transaction.
3PW  RB20-FI 
april 2015 by lafgrp
Finextra: Finextra news: Abra taps the blockchain for P2P remittances
QUOTE users hand over cash [to digital teller] in exchange for "digital cash"....sent to the user's phone using the blockchain to settle....they can send money to someone oversees. The recipient gets a message telling them they have been sent funds and pulls up a list of nearby tellers before meeting one and withdrawing the money."
3PW  RB20-FI  371 
march 2015 by lafgrp
Philippines: FIS partners PNB to deliver core banking solutions
covers QUOTE customer management, deposits, lending, and financial and management reporting capabilities
3PW  RB20-FI 
january 2015 by lafgrp

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