Payments News

On The Web

nbsp;

Providers

Challenging the Challenger Banks

“Fintech start-ups have begun a phenomenon some call the “unbundling of financial services” through stand-alone products such as unsecured consumer loans, credit cards, checking and savings accounts, or personal financial management tools. A cohort of entities known as “challenger banks” or “neo-banks” have also entered the market in an attempt to take on digital banking […]
nbsp; nbsp; nbsp;

Providers

Mash and Nets Partner For Pay Later Solution Across Nordics

“Mash and Nets have teamed up to provide a “pay later” solution to merchants across the Nordics. As the name suggests, this will offer consumers an option to pay later for purchases while “enabling merchants to increase their average basket size, growing their business”. At the time of purchase a user can select the Mash option from a […]
nbsp;

Providers

JPMorgan’s Clampdown on Data Puts Silicon Valley Apps on Alert

“Long-simmering tensions between the financial industry and Silicon Valley startups are erupting behind-the-scenes into a battle over the reams of valuable data held inside Americans’ bank accounts. In recent months, major banks including JPMorgan Chase and Capital One have led the industry into a fresh campaign to control how outsiders tap into sensitive customer information. […]
nbsp;

Providers

Machine Learning and Data Are Powering Monzo’s Fintech Disruption

“App-only fintech startup Monzo is scaling up its machine learning capabilities and plugging employees into the rich stream of data generated by 1.7m global users as it forges ahead of the high-street banks in the digital space. Neal Lathia, data scientist and machine learning lead at the UK-based bank, told The Drum how his team […]
nbsp;

Providers

NAB Backs Online Portal to Boost Bank-fintech Collaboration

“NAB, Israel’s Bank Leumi and Canada’s CIBC have launched an online portal intended to facilitate collaboration with fintechs. The site solicits pitches from fintechs to address a range of challenges facing the trio of banks. A representative of a fintech can select which problems they think they can address, choose which bank they want to […]
nbsp; nbsp;

Providers

Online Lender SoFi Has Quietly Raised $500 Million in Funding, Led by Qatar

“According to SoFi’s release about funding, its pre-money valuation is $4.3 billion, the same valuation it was assigned at the time of that Silver Lake-led round two years ago. Seemingly, that owes to competitive pressure in the space, including a flood of non-bank lending companies that includes Lending Club and Prosper for consumer loans, OnDeck […]
nbsp;