PayPal is connecting with Acorns, an automated savings/investing platform; users will be able to contribute and manage their account from the PayPal app; the first users will get access today which will expand access to all US users by early 2018; PayPal previously has invested in Acorns, leading a $30 million round. Source
There are new ways for Americans to build their emergency savings today from a new government program offered through retirement plans to new fintech offerings.
Most financial services firms look to educate users by having a blog or providing some links to resources; Acorns CEO Noah Kerner says the company wants to go further, they have their own online magazine, interviews with celebrities and provide financial how tos; they will also push content to you based upon how you use the app, trying to customize your experience; the big difference they see is when they combine education with the app experience, helping to move education beyond just reading articles. Source.
Cambr was created as a banking-as-a-service partnership between Q2 and Stonecastle but Q2 has decided to end this partnership; Q2...
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·Google has done it. In a massive update to Google Pay, the company highlighted exactly the direction of travel for high tech, fintech, and the global banks. It has articulated a vision for competing with Apple Pay and Ant Financial. Let's walk through the features.
We look in detail at the state of marking recently-private-fintechs to the public market in mid-2021. Multiple industry segments have seen IPOs, direct listings, and SPACs transition fintech darlings into traditional stocks. How is performance doing? Is everything as magnificent and rich as we expected? Have multiples and valuations fallen or held steady? The analysis explores the answers and provides an explanatory framework.
Acorns Targets Babies With New Custodial Account Capital raises $9M for its AI-based ‘capital as a service’ funding platform for...
The new Mighty Oak Visa debit card from Acorns has a solid foundation for success says a representative from long-time partner Helix by Q2. GM Ahon Sarkar said he’s not surprised by Acorns’ prosperity since the two companies first partnered seven years ago, which is an eternity in fintech.
Lincoln Savings Bank is a 117-year-old community bank based in Iowa; but five years ago they started a fintech initiative...
The fintech industry is coming up on the tipping point of funding, revenue generation, and user acquisition to rival traditional finance with $20 billion in YTD fintech financing, the several SPACs, and Visa’s $2B Tink purchased. Defensive barriers have eroded.
Let’s take a moment to compare capital. While it is not the money that wins markets, it is the transformation function of that money into novel business assets that does. And while the large banks have a massive incumbent advantage with (1) installed customers and assets, and (2) financial regulatory integration (or capture, depending on your vantage point), there is a real question on whether a $1 generates more value inside of an existing bank, or outside of an existing bank — even when it is aimed at the same financial problem.