#SME / ZenBusiness Acquires Digital Banking Startup Joust

ZenBusiness offer a digital plug-and-play model to help small businesses get up and running with such things as filing legal paperwork, tax filing, websites, domain names and other services; now they will be able to offer financial services with the news today that they have acquired Joust, a digital banking startup focused on freelancers andContinue reading “#SME / ZenBusiness Acquires Digital Banking Startup Joust”

#SME / Intuit Launches New Small Business Bank Account Called Quickbooks Cash

The leader in small business accounting, Intuit, has announced a new tech-enabled bank account with a rich set of features and integrations; Quickbooks Online users… can open a new bank account today that will pay 1% on account balances and features tight integration with other Quickbook products such as Payroll, Capital, Bill Pay and Payments;Continue reading “#SME / Intuit Launches New Small Business Bank Account Called Quickbooks Cash”

#CryptoCurrency / Philippines Central Bank Eyes Issuing Cryptocurrency

The Philippines central bank is now considering creating its own central bank digital currency (CDBC)… The bank, called Bangko Sentral ng Pilipinas or BSP, will look at the feasibility and potential implications of implementing a digital coin. [Governor of the bank:] “Cryptocurrency for us has always been beyond the asset itself but more on theContinue reading “#CryptoCurrency / Philippines Central Bank Eyes Issuing Cryptocurrency”

#PersonalFinanceManagement / Betterment Debuts Cash Goals Feature To Help Users Save

Users can see all of their funds in a single location and save with intention by making distinct buckets for financial goals over the short or long haul through the functionality… Betterment offers automated investing portfolios, as well as financial advice, to its clients. While it seeks to bolster its use of automation across allContinue reading “#PersonalFinanceManagement / Betterment Debuts Cash Goals Feature To Help Users Save”

#Payments / Strong Venmo And QR Code Payments Growth Help PayPal Score Record Q2 Earnings

… PayPal not only beat analysts’ expectations… but enjoyed a record quarter. And the company credited its Venmo peer-to-peer (P2P) payments platform and QR code-based contactless-payments system for a big part of that success. [CEO:] “Our record performance in the second quarter — our strongest quarter ever — reaffirms the relevance of PayPal in theContinue reading “#Payments / Strong Venmo And QR Code Payments Growth Help PayPal Score Record Q2 Earnings”

#VirtualAccounts / Deutsche Bank Now Enabling Airwallex to Provide Virtual Account Collections & API-Enabled Foreign Exchange Services in Japan & Hong Kong

… the solution will further allow Airwallex to seamlessly process and convert cross-border payments made to its merchants based in Greater China by using virtual accounts and API technology. “Through these services, merchants using Airwallex will benefit from not needing to open bank accounts in the markets where their customers are based, thereby simplifying theContinue reading “#VirtualAccounts / Deutsche Bank Now Enabling Airwallex to Provide Virtual Account Collections & API-Enabled Foreign Exchange Services in Japan & Hong Kong”

#PersonalFinanceManagement / Wingocard Raises $2M

Wingocard, a Montreal, Canada-based personal finance platform designed to connect teens to the mobile, cashless economy and strengthen financial literacy skills, closed a $2M seed funding. … Wingocard is a mobile banking app designed for teens and parents. It allows parents to instantly transfer money and control how it is spent. In addition, the appContinue reading “#PersonalFinanceManagement / Wingocard Raises $2M”

#EmbeddedFinance / Shopify & Embedded Finance, Part 1: Analyzing Shop Pay’s Flywheel

Embedded finance is when a non-financial services company creates financial services products for their users, embedding them into its existing products. Companies with massive distribution and powerful data moats use these assets to create unique financial products that can be easily marketed to users. Shopify’s primary purpose is to help businesses sell online – theirContinue reading “#EmbeddedFinance / Shopify & Embedded Finance, Part 1: Analyzing Shop Pay’s Flywheel”

#CryptoCurrency / The World Bank Needs to Create a Universal Coin

… the World Bank should create a global coin that allows for financial institutions to use the system and exchange local currencies; there’d be no “new” money or mined coins, the only volatility would be the traditional currency exchange flux between the world’s two most used fiat currencies; this would help to accelerate the useContinue reading “#CryptoCurrency / The World Bank Needs to Create a Universal Coin”

#DigitalBanking / Enova to Acquire OnDeck to Create a Leading FinTech Company Serving Consumers and Small Businesses

This transaction brings together two complementary, market-leading businesses combining world-class capabilities in consumer and small business online lending. Enova and OnDeck are both innovators that have helped revolutionize online lending, using data and advanced analytics to simplify and expand access to financial services for underserved borrowers… Enova will add the OnDeck brand, products and servicesContinue reading “#DigitalBanking / Enova to Acquire OnDeck to Create a Leading FinTech Company Serving Consumers and Small Businesses”