FinTech News
Fascinated by the rapidly evolving world of financial technology? Our FinTech news category is your insider’s guide to the most cutting-edge innovations disrupting the finance industry. Get up-to-date coverage on the latest breakthroughs in digital banking, cryptocurrency, investing, and more.
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SoFi Invest Expands to Hong Kong with Acquisition of 8 Securities
SoFi’s big year just got even bigger. This week the company not only announced that it would be bringing its SoFi Invest product to Hong Kong but also that it was acquiring the online brokerage firm 8 Securities in the process. The deal still needs to meet closing conditions but, once it’s complete, the current 8…
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Images of Google’s Reported Debit Card Project Surface
Over the past several months, a number of FinTechs have debuted their own takes on a debit card product. From Square to Robinhood and SoFi to Long Game, each of these offerings complimented the company’s other services, hopefully incentivizing users to come aboard. Now it looks like a much larger corporation is looking to enter…
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SoFi Set to Acquire Fellow FinTech Galileo
Even in the face of a pandemic, FinTech marches on. Not only have we seen firms reporting new funding rounds during these challenging times but we have also seen some online banking offerings experiencing increased sign-ups. Now there’s more good news for the industry as the streak of acquisitions we’ve seen so far this year…
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Payments API Platform Sila Raises $7.7 Million in Funding
Despite FinTech deals falling to multi-year lows amid the global COVID-19 crisis, funding is still flowing for some firms. The latest to reveal new rounds is the Portland-based payments startup Sila. Last week Sila announced that it had raised $7.7 million in seed funding. The round was co-led by both Madrona Venture Group and Oregon Venture Fund.…
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Fold Unveils New Bitcoin Rewards Visa Card
Despite the best efforts of FinTechs like Robinhood and Square, cryptocurrencies remain fairly esoteric in nature. However another company looking to change that is Fold — an app that uses Bitcoins as cash back rewards. Now the firm is taking that mission to the next level with the help of Visa. Today, Fold announced that…
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FinTech Deals Decline Amid COVID-19 Outbreak
With the COVID-19 pandemic not only delivering a public health emergency but also crippling the global economy, it should come as no surprise that new investments from venture capital are down as well. According to the latest report from CB Insights, the number of FinTech deals globally year over year was nearly cut in half.…
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FinTech Financial Planner Savology Closes Oversubscribed Seed Round
Once again it seems that the current pandemic hasn’t stopped some FinTechs from seeking investments and growing their reach. This week the Utah-based Savology announced that it had raised $750,000 in seed funding. The oversubscribed round included participation from MassMutual Intermountain West CEO Brady Murray, RevRoad CEO Derrin Hill, Ascend Finance co-founder/CEO Ben Tejes, and…
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HMBradley Launches Digital Banking Product that Rewards High Savings Rates
When the Federal Reserve made two emergency cuts to interest rates amid the COVID-19 pandemic, many formerly high-yield savings products lost a bit of their luster. Meanwhile a growing trend in FinTech online banking offerings (which typically come via partnerships with actual banks with FDIC deposit insurance) has been to peg interest rates to different…
