On the heels of the Ant Financial IPO news earlier this week leading Chinese online wealth management platform Lufax is...
In the past some fintech companies and financial aggregators have accessed JP Morgan customer data by using user’s passwords; JP...
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·Mike Cagney is the Co-Founder and CEO of Figure, a full stack financial services blockchain company with consumer offerings in market or on the way in lending, banking and more. In late-2019, Figure raised $103 million at a $1.2 billion valuation and continues to grow.
Prior to starting Figure, Mike co-founded and ran SoFi, one of the most successful consumer fintech companies ever.
In this conversation, we discuss Figure’s routes to asset origination and capital markets disruption, Figure’s previously unannounced consumer banking and payments offering, lessons learned building and scaling multiple billion dollar companies and more.
Dimon noted that new customers can open a new deposit account in less than five minutes and that the bank...
The news marks the first time a major US bank has created a cryptocurrency; the bank plans to start trials...
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·This week, we look at:
How the music industry needed The Pirate Bay and Napster
Why J.P.Morgan is paying $1B in fines for allegedly manipulating the precious metals market
Whether DeFi is flirting with self-dealing and veering towards apathy
Why QAnon and 8chan are a bad example for global governance
And how the European Commission’s proposed crypto-market rules are highly productive for blockchain-based capital markets infrastructure
Well this morning started out as a bit of a bummer! See -- Charles Schwab to buy TD Ameritrade in a $26 billion all-stock deal. The $55 billion market cap Schwab is gobbling up the $22 billion TD Ameritrade at a slight premium. Matt Levine of Bloomberg has a great, cynical take on the question: Schwab lowering its trading commissions to zero is actually what wiped out $4 billion off TD's marketcap a few months ago. For Schwab, the revenue loss from trading was 7% of total, while for TD it was over 20%. Once Schwab dropped prices, TD started trading at a discount and became an acquisition target. You can see the share price drops reflected below in the beginning of October.
Thanks to improvements in technology, innovative businesses like Melio are bringing B2B payments into the 21st century. This week, Melio launched Real-Time Payments, supported by J.P. Morgan.
TechCrunch reports that JP Morgan is recruiting for a secret project based in London; while few details are known, the...
It was recently reported that JPMorgan Chase was entering the POS financing market; their entrance comes at a time when...