A new Harris Poll survey by Ondot Systems asked Americans their thoughts about banking with big tech companies like Apple,...
I started writing about marketplace lending back in 2010, so I have spent almost the entire decade immersed in this...
American Banker reports on the lobbying group called Financial Innovation Now and that some technology giants are meeting individually with government agencies; Amazon met with the OCC starting in the second quarter of 2016 and met again this year; PayPal has also met with OCC officials in several quarters last year. Source
PayPal just launched what it calls a super app. It has a cash account with a 0.40% interest rate, direct deposit, money movement, bill pay, and remittance features. It also integrates shopping functionality with rewards and cash back. In this analysis, we compare this offering with Google Pay and Square Cash App, as well as trace the DNA of PayPal to understand whether such an offering will succeed where others failed.
If asked where to get a small business loan most people would state their local banks or even some of the bigger traditional...
In his weekly Forbes column Ron Shevlin of Cornerstone Advisors wonders if Intuit is the best fit to buy Credit...
Much has been written about Amazon’s foray into financial services; a new survey shows that 3 in 10 consumers say...
Anyone watching Fintech over the last decade has recognized an increasing shift of power from product manufacturers to the platforms where those products are sold. In the case of Amazon, Google, and Facebook -- finance is just a feature among thousands of others. I've made this point since 2017, when Amazon launched lending into its platform. Brett King has been a bit more generous in the categorization, calling the shift "embedded banking". This means that banking products are built into you life's journey, not accessed in a separate customer center location. The financial API trend is a tangible symptom of this vector.
Amazon will now allow customers to add cash to their Amazon accounts through barcode scans at participating retailers throughout the US; funds will be immediately available for use; the firm says the initiative is expected to target underbanked customers; Morgan Stanley says the announcement could decrease the chances of the firm partnering with PayPal for payments which is a deal the market has been potentially anticipating between the two companies. Source
At the end of September, Lendistry reached the one-year mark running the Amazon Community Lending program.