Category: FinTech
Stay up to date on the latest trends in FinTech – where technology meets finance to create new market opportunities.
FinTech
FinTech
Kiva Adjusts Lending Model in the U.S.
Peer to peer microlender Kiva is changing the way people crowdfund on their site specifically for the U.S. market. The non-profit is best known as a platform where those in less fortunate countries can solicit loans in order to start a business or finance other expenses but expanded to include entrepreneurs domestically starting in 2009. However to date the company has only facilitated 3,700 loans to those in the U.S. — a small piece of the...
FinTech
FinTech in the 1950s?
In the minds of many of us the FinTech sector is a relatively new phenomenon that has grown over the past decade or so. However, following the trail of banking innovations back to the 1950s paints a different picture of FinTech and their supposed threat to the big banks. A recent article in Forbes argues that FinTech is not nearly as new a concept as we assume. They first point to...
FinTech
How Millennials Are Helping Drive FinTech Adoption
Once upon a time, people actually needed to visit their local bank branches in order to take out money, make a deposit, or get a loan. As International Business Times notes, this meant that customers were often making their banking decisions based on how much they liked the people they interacted with and might even open a new account or take out a loan for that reason. While some may miss...
FinTech
What Banks Think About FinTech (and Vice Versa)
You've probably heard it said that in the case of many large predators you might encounter in the wild, it's important to remember that they're more afraid of you than you are of them. When it comes to the traditional banks' perception of FinTech startups, that seems to be proving true. While few expect them to become entirely obsolete, a new study found that bankers are more bearish on the future...
FinTech
Square Launches Successful IPO
On November 19, the FinTech payments company Square went public, hitting the New York Stock Exchange under the ticker symbol 'SQ.' Although the stock's opening price of $9 was below the company's initially announced target, it closed the day at $13.07 — up 45%. According to The New York Times' Dealbook that gives the company a valuation of $4.4 billion. In an interview with CNBC, Square's CEO and co-founder, Jack Dorsey...
FinTech
Lending Club's Approval Process: A Peek Behind the Curtain
Perhaps the biggest question people have about online lenders is how they determine who will be a good borrower. Since FinTech companies like Lending Club never actually meet their borrowers face to face, they must rely on their application process, algorithms, and other factors to decide if a borrower should be approved and what their interest rate should be. While typical indicators such as credit score and history play a...
FinTech
