Anyway you slice it, we have not been doing a good job in stopping money laundering.
It is estimated that we only catch 1-2% of all illicit money flowing through the banking system. Yet as an industry, we spend many billions of dollars in this fight.
One of the problems with making loans like BNPL such a standard part of the checkout is that they are...
By Peter Renton Since Visa announced late Monday their new $100 million fund focused on generative AI startups much has been written....
Being a direct-to-consumer fintech can be expensive and difficult.
The path to profitability is often a long and winding one, so we have seen several companies pivot to B2B in the last year or so.
You could say Banking as a Service is under siege.
The number of severe enforcement actions BaaS banks received skyrocketed in 2023 to 13.5% of the total. When you consider there are probably only around 100 banks out of 4,800 that are involved in banking as a service, you can see why this number is disturbing.
The Wall Street Journal is reporting that Apple has indeed decided to move on from Goldman in roughly 12 to 15 months. This will mean both the Apple Card and the savings account (that was rolled out just a few months ago) will need a new banking partn
More positive signs for fintech as spend management unicorn Ramp closed another large funding round.
The $150 million was officially called a Series D extension, but it comes at a $7.65 billion valuation, a significant improvement over the $300 million raised for the initial Series D, which was at $5.8 billion.
The buy-now-pay-later industry continues to grow in popularity. And part of the reason is consumers are starting to understand that most of BNPL stands outside the traditional credit scoring system.
BaaS fintech Synapse is having a rough year. Synapse and its clients need to be removed from Evolve's platform by December 31.
Stripe has, for some time, been one of the leading fintech companies globally when it comes to scale.
But the numbers it revealed today in its annual letter are truly staggering. It processed $1 trillion, around 1% of global GDP, through its platform in 2023. It crossed that milestone just 15 years after it was founded.