Expensify targets socially-conscious companies with charitable rewards card
Expense management startup Expensify is including charitable donations as a perk for its corporate cards. The product, which launched in beta in October, became available to the public this week. It...
View ArticleWeekly Wrap: Visa acquires Plaid and retailers embrace fintech
Welcome to the latest episode of our Weekly Wrap video series, for the week ending Friday, January 17, 2019. In this episode, editors discuss the following news developments: The overlap of retail with...
View ArticleMUFG taps math expert as CEO to lead digital transformation
Mitsubishi UFJ Financial Group Inc. named Hironori Kamezawa as chief executive officer, turning to a math expert to help Japan’s biggest bank forge a path in the digital era. Kamezawa, 58, will take...
View ArticleFed: Big bank cyberattack could have serious spillover effects
A cyberattack on a major U.S. bank could have network effects that could cripple the financial system, a report from the Federal Reserve Bank of New York concluded. The study, released this month,...
View ArticleHSBC launches Treasury APIs for business clients
HSBC is improving payments for its business clients through a suite of tools launched last week called Treasury APIs, which are designed to speed up payments for small businesses and large corporate...
View ArticleDigit expands bill-pay automation
Personal finance app Digit is growing its bill payment automation capabilities with a new feature that pays users’ phone bills. The platform already allows for scheduled payments for credit cards and...
View ArticleTemenos to help US clients launch digital banks in 90 days
The race to create a challenger bank just got more competitive with a ready-made solution from core provider Temenos that can help brands stand up a digital bank in as few as 90 days. The...
View ArticleBrex to launch treasury, insurance and loan products
Brex, a corporate card and financial product startup aimed at businesses, plans to broaden its product ecosystem beyond bank accounts and cards. Chief Operating Officer Paul-Henri Ferrand told Bank...
View ArticleAlly reports strong deposit growth as it expands lending product suite
Ally Financial this week reported it’s continuing its winning streak in deposit growth. In a third-quarter earnings report, the bank reported total deposits of $119.2 billion, up 18% year over year....
View ArticleFresh off $260M in funding, AvidXchange poised for continued growth
Invoicing and accounts payable company AvidXchange has raised $260 million in equity funding, which co-founder and CEO Michael Praeger said would help grow the company’s sales, marketing, product...
View ArticleWeekly Wrap: Digit expands automation, Brex grows product suite
Welcome to the latest episode of our Weekly Wrap video series, for the week ending Friday, January 24, 2019. In this episode, editors discuss the following news developments: Brex’s expanded product...
View ArticleGrasshopper Bank advances inclusion, stamps out ‘pattern matching’
New York City-based Grasshopper Bank is geared toward startups, with a focus on pain points for founders. Grasshopper opened in May 2019 after securing FDIC and OCC approval, a rare distinction for a...
View ArticleSoFi taps Mastercard network for new payment products and rewards
Financial startup SoFi has changed its payment partner from Visa to Mastercard, allowing SoFi to ramp up its rewards program, offering complimentary cellphone insurance, cash-back rewards and...
View ArticleInside Joust’s subscription model for freelancers
Joust, a digital banking startup geared toward freelancers, is differentiating itself by offering faster access to earned income. “The pain points [for small businesses] are not banking. Plenty of...
View ArticleIndustry consortium on financial data sharing adds 25 new members
The Financial Data Exchange, an nonprofit industry consortium dedicated to unifying the financial industry around a common standard for secure and convenient consumer and business access to financial...
View ArticleMastercard’s bet on fintech pays off with higher card spending
Mastercard Inc.’s new initiative to team up with more startups on credit cards is starting to pay off. The company has been starting card programs for fintechs including Brex Inc., Revolut Technologies...
View ArticleUK card startup Curve launches Apple Pay
U.K.-based card consolidation startup Curve this week launched with Apple Pay, allowing customers to connect their Curve cards to their Apple iPhones, watches, iPads and other devices. Curve offers a...
View ArticleUniversity of Toronto launches fintech bootcamp to meet local labor demand
With nearly 200 startups, five major banks, 19 venture capital firms and representation from large tech companies like Google, Facebook, PayPal, Toronto is quickly becoming a center for fintech...
View ArticlePayPal highlights Venmo profit strategy
PayPal reports that peer-to-peer payments tool Venmo is on a path to profitability. In a fourth-quarter earnings report Wednesday, PayPal CEO Dan Shulman told investors the company is pushing ahead on...
View ArticleUS consumers reluctant to embrace contactless payments
While U.S. merchants and consumers believe in quick transactions at the point of sale, a Hanover Research survey commissioned by payments tech companies Ingenico and FreedomPay this month suggests...
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