#BankTech #WealthTech / Mobile bank MoneyLion in talks to go public via SPAC

MoneyLion, a mobile banking, lending and investment platform, is in talks to go public through a merger with Fusion Acquisition, a blank-check company, according to people with knowledge of the matter. New York-based MoneyLion, led by founder and Chief Executive Diwakar “Dee” Choubey, has more than 6 million members. Its features include RoarMoney, which givesContinue reading “#BankTech #WealthTech / Mobile bank MoneyLion in talks to go public via SPAC”

#BankTech / Fair, a neobank and financial services platform, raises $20 million

Fair, a neobank and financial services platform, is set to launch nationwide in April to provide its banking, lending, investment and retirement services. The funding will mostly be used for marketing, public relations and continued technological development… Other recently launched neobanks and banking platforms like Jiko and Oxygen have dedicated their seed and series AContinue reading “#BankTech / Fair, a neobank and financial services platform, raises $20 million”

#BankTech / Fintech startup Narmi closes $20.4m

Narmi works with financial institutions and builds enterprise solutions that span consumer digital banking, business banking and digital account opening… Narmi’s co-founders built the company after they saw that many financial institutions, such as regional/community banks and credit unions, had technology that “for lack of a better word, sucks… It doesn’t move the needle forContinue reading “#BankTech / Fintech startup Narmi closes $20.4m”

#FinTech #BankTech / What’s in store for financial services in 2021?

[Key takeaways from the article by Fintech Futures] …what the rest of this year might have in store for the world of financial services and fintech. Your marketing strategy will focus on Gen Z… For Gen Z, it is customary for birthday money to arrive via bank transfer, and for different APIs to track andContinue reading “#FinTech #BankTech / What’s in store for financial services in 2021?”

#BankTech / BofA, Chase, Wells Fargo pilot service to rein in screen scraping

A new type of vendor service aims to make life easier for bankers who want to assess the risks of working with certain data aggregators. Bank of America, JPMorgan Chase and Wells Fargo are among the banks that have piloted a risk-assessment service for data aggregators, with the ultimate goal of having less customer dataContinue reading “#BankTech / BofA, Chase, Wells Fargo pilot service to rein in screen scraping”

#BankTech / Goldman Sachs Taps Marqeta to Power Checking Accounts for Marcus

The new digital checking accounts will launch for Goldman’s Marcus clients later this year, though there is no word on the exact timing. Marcus currently offers limited consumer banking tools, including savings, certificates of deposits, and loans. The bank also partnered with Apple in 2019 to serve as the banking partner behind the Apple creditContinue reading “#BankTech / Goldman Sachs Taps Marqeta to Power Checking Accounts for Marcus”

#BankTech / Blend Raises $300 Million for Mortgage and Consumer Banking Services

Blend offers banks no-code, drag-and-drop workflows to help them customize the end user experience and launch new products quickly in response to consumer demand. The company launched in 2012 with a focus on helping banks revamp the mortgage application process for consumers. Last September, Blend introduced a consumer banking suite, a set of tools toContinue reading “#BankTech / Blend Raises $300 Million for Mortgage and Consumer Banking Services”

#BankTech / GM, Goldman and Mastercard agree credit card partnership

General Motors, Goldman Sachs and Mastercard have agreed a multi-year relationship for co-branded rewards-based credit cards. Goldman Sachs beat out competition from Barclays late last year to buy GM’s credit card business in a deal worth around $2.5 billion. Mastercard will continue to act as the network of choice when Goldman starts acting as issuingContinue reading “#BankTech / GM, Goldman and Mastercard agree credit card partnership”

#BankTech / MX ties up $300m in Series C funding

MX provides account aggregation services to banks, credit unions, and fintechs. It claims its systems enhance financial data to reduce fraud, approve loans faster, and help clients invest. The firm claims more than 2,000 customers, and 30 million end customers. “The financial industry is at an inflection point as organisations look to become not onlyContinue reading “#BankTech / MX ties up $300m in Series C funding”