#PFM / UK challenger Finndon lands e-money licence

The start-up, which plans to launch in 2021, intends to offer current accounts armed with a range of “smart budgeting tools” aimed at turning spenders into savers. Finndon claims to have “stripped back the financial jargon” so “the everyday person can understand” how its products work. [CEO:] “Banks frequently bamboozle customers and hide behind complexContinue reading “#PFM / UK challenger Finndon lands e-money licence”

#FinancialInclusion / Step’s CJ MacDonald on building a bank for teens

…CJ MacDonald, founder and CEO of Step… was the co-founder of gyft, a startup targeting the massive gift card market and was acquired by First Data. He’s come back to fintech with Step, a bank targeting teens and their parents. My last company was called gyft. We built a digital gift card platform that actuallyContinue reading “#FinancialInclusion / Step’s CJ MacDonald on building a bank for teens”

#FinancialLiteracy / HSBC and Young Money develop financial education portal

Developed with support from HSBC UK, the new programme aims to improve financial capabilities of one million children ages 3 to 11 over the next three years. In addition to giving teachers and parents access to a steady stream of resources and guidance, they can also track and share individual children’s learning plans on theContinue reading “#FinancialLiteracy / HSBC and Young Money develop financial education portal”

#PFM #AI #WealthTech / Santander launches money manager with Tel Aviv fintech Personetics

The bank wants to use Personetics’ AI-based approach to drive better customer engagement through a smoother digital experience… The new ‘My Money Manager’ feature will send “financial tips”, “helpful nudges” and “personalised insights into spending and upcoming financial commitment” via push notifications. … this means expected deposit dates for regular payments such as salaries, pensionsContinue reading “#PFM #AI #WealthTech / Santander launches money manager with Tel Aviv fintech Personetics”

#PFM #AI / BMO launches AI-powered cashtrack tool

Bank of Montreal has added an AI-driven feature to its PFM platform that helps customers identify potential cash shortfalls. The BMO CashTrack Insight feature uses AI and machine learning models to provide customers with real-time financial insights that predict an upcoming cash shortfall, such as an account balance dropping below zero. The system looks upContinue reading “#PFM #AI / BMO launches AI-powered cashtrack tool”

#SME #PFM / NerdWallet makes second acquisition in 2020 with Fundera

NerdWallet, a credit card marketplace which doubles up as a personal financial management (PFM) tool, is powering on with its small acquisition spree this year. Instead of continuing its UK expansion, the San Francisco-based start-up has gone back to its roots, acquiring Fundera, a New York-based small business loan comparison site. The move sees NerdWalletContinue reading “#SME #PFM / NerdWallet makes second acquisition in 2020 with Fundera”

#OpenBanking / Basiq announces partnership with Plaid to expand financial access

… Basiq, a platform providing fintechs with access and insights into financial data, has partnered with Plaid, a data network powering thousands of digital financial tools, to expand developers’ financial access and consumer access to open finance. Together, Basiq and Plaid enable their clients to expand into new markets and disrupt financial services on aContinue reading “#OpenBanking / Basiq announces partnership with Plaid to expand financial access”

#CryptoCurrency / ZenGo To Create Crypto Payment Card

[ZenGo:] “People want to be able to spend crypto.” Bitcoin and digital currency wallet company ZenGo… will create a new digital currency payment card, according to an announcement. ZenGo said the card will be the first card connected to a “self-hosted, on-chain, multi-currency wallet" in which the user manages the funds… According to ZenGo, theContinue reading “#CryptoCurrency / ZenGo To Create Crypto Payment Card”

#FinancialInclusion / US financial literacy app Jassby plans virtual debit card for kids

Jassby provides spending and budgeting tools for children and teens. *** Massachusetts-based financial literacy app, Jassby, is set to add contactless payments to its list of family-focused features. The app, first founded in 2017, provides a virtual debit card for young adults and teenagers. The account is connected to a parent, who can manage theirContinue reading “#FinancialInclusion / US financial literacy app Jassby plans virtual debit card for kids”

#FinancialInclusion #PFM / UK challenger Strive launches waitlist for family-focused account

Strive, a challenger banking service focusing on 0-18-year-olds, has launched its waitlist. The fintech is a product of Budapest-based fintech ff.next’s acquisition of Australian start-up GoSave, which offers interactive piggy banks for kids. … The fintech is hoping to take on the junior and family banking market in the UK, rivalling the likes of goHenryContinue reading “#FinancialInclusion #PFM / UK challenger Strive launches waitlist for family-focused account”