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Fintech startups raised $34B in 2019

“Financial services startups raised less money in 2019 than they did in 2018 as VC firms looked to back late stage firms and focused on developing markets, a new report has revealed. According to research firm CB Insights’ annual report published this week, fintech startups across the world raised $33.9 billion* in total last year […]
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Providers

Growth of Digital Payments Set to Cost Australian Banks US$3 Billion

“As much as 13.7% of Australian banks’ payments revenue, or US$3 billion, is likely to be displaced by the growth of digital payments and competition from non-banks, as payments become more instant, invisible and free, according to a new report from Accenture. The report found payments revenue in Australia will likely grow at an annual rate […]
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Providers

Credit Sesame Launches Digital Banking Service

“Credit Sesame, a company that helps consumers manage their credit, is launching a digital banking service called Sesame Cash, offering consumers bank accounts that charge no overdraft, minimum balance or monthly service fees.  The service will offer customers a debit Mastercard, an FDIC-insured account with Community Federal Savings Bank, free access to 55,000 ATMs and […]
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Providers

Microsoft Announces Money in Excel Powered by Plaid

“One of the earliest forms of “fintech” is a budgeting spreadsheet. For years, people have relied on Microsoft Excel to budget and track expenses for their personal finances or businesses, typically copying data over from multiple sources. Money in Excel features a Plaid integration and the new capabilities essentially turn the spreadsheet software into a […]
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Providers

Kabbage Finds a Way to Support Emergency Loan Program

“Kabbage, an online lender that recently stopped lending after being routed by economic fallout from the coronavirus pandemic, has started accepting applications for the Paycheck Protection Program. The company’s leaders hope that by helping to distribute the program’s funds they will help small businesses bounce back and rehire workers who were furloughed.”