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SoFi Rolls Out Mobile Checking Account Aimed At Millennials

“The checking account, which is in beta, is called SoFi Money. It marks an important step for the company that started out as a digital lender seven years ago, then branched out to wealth management, personal loans and mortgages. SoFi is aiming at digitally native millennials; owning deposit relationships keeps customers within SoFi’s ecosystem and lets it cross sell […]
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Plum, The Fintech Chatbot That Helps You Save, Adds Theme-Based Investing

“Plum, the fintech startup co-founded by early TransferWise employee Victor Trokoudes, is continuing its mission to help you manage your finances and save money. The AI-powered Messenger chatbot already offers savings functionality, including round-ups and regular savings, and today is launching an investment tool that lets you choose fund investments based on themes, such as ethical […]
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Digital-Only Banks Grapple With Integrating ‘Human’ Interaction Into Their Products

“Recent customer surveys indicate otherwise, according to research findings released this month from Celent, commissioned by Samsung. It revealed that customers want some kind of human interaction for complex issues. The study found that about half of U.S. banking customers aged 18 to 44 said they banked digitally, but prefer to resolve some matters in-person. Overall, […]
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A Sea Of Sameness: As Startups Turn Into Bank-Like Platforms, Differentiation Remains An Issue

“While platforms offer opportunities to deepen relationships with customers and grow multiple revenue streams, the risk is that they will appear too similar. Founders are preparing for a scenario in a few years that will likely see a range of different platforms available for consumers, one in which maintaining a distinctive product offering will become crucial […]
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Revolut Announces A Robinhood-like Trading Product

“Fintech startup Revolut likes to announce new things all the time. Even though nothing is going live today, it’s interesting to see where the startup is heading. The company is working on a trading platform for traditional shares without any commission. You’ll find stock from public companies from the U.K. and the U.S., as well as various ETFs […]
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N26 Now Has 1 Million Customers

“You don’t sign up for a bank account every day. And yet, German startup N26 has managed to attract 1 million clients across Europe. They generate €1 billion in transaction volume every month ($1.17 billion). It took N26  only nine months to grow from 500,000 to 1 million. And the company now plans to have 5 million users by 2020. It’s […]
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British Fintech Startup Revolut To Seek U.S. Banking License: CEO

“The company is one of the UK’s most valuable fintech startups having raised $250 million at a $1.7 billion valuation in April. Other financial technology companies seeking banking licenses in the United States include Square Inc (SQ.N), the payments company launched by Twitter Inc (TWTR.N) CEO Jack Dorsey and digital bank Varo Money. Student lender […]
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