TFU | Feb. 17 – 23

Leading Off It was a huge week for acquisitions: LendingClub became the first fintech firm to purchase a bank, buying Radius for $185M, Morgan Stanley acquired E-Trade for $13B, Intuit is reportedly buying Credit Karma for about $7B, and Ally purchased CardWorks for $2.65B. In other news, Sweden is testing an “e-krona” CBDC; Shopify joined…

TFU | Feb. 10 – 16

Leading Off The FDIC approved Varo’s application to become an insured depository institution; N26 is shutting down its UK operations due to Brexit complications; Canada Stablecorp is launching a stablecoin pegged to the CAD; Senator Kirsten Gillibrand (D-N.Y.) announced legislation to create a federal Data Protection Agency; and Regtech firm Fenergo raised $80M in new…

TFU | Feb. 3 – 9

Leading Off SEC Commissioner Hester Pierce proposed a three-year safe harbor for crypto token sales; Goldman Sachs is reportedly considering building a financial services-specific cloud platform; Cambridge University released a new report on a global study of AI in financial services; Worldline is purchasing Ingenico for $8.6B, creating the world’s fourth-largest payments firm. In the…

TFU | Jan. 27 – Feb. 2

Leading Off California’s financial regulator established an Office of Innovation based in San Francisco; New York City became the latest city to ban cashless stores; Citi rolled out its new robo-advisory service; Wawa experienced a data breach exposing 30 million credit card records; Klarna raised $200M; and the NYT profiled the rising use of Bitcoin…

The Big Idea | Big Tech and Financial Services (Jan. 31, 2020)

Throughout the year, we’ll be offering a deeper look at some of the biggest trends in fintech, which we believe will continue to impact financial services in the coming decade. This week, we’re taking a look at the expansion of the “Big Tech” firms into financial services. As always, if you have any ideas for…

TFU | Jan. 20 – 26

The Bank of England is looking for a technology partner to help it develop a “fit for purpose cloud environment”; Japanese lawmakers are creating a proposal for a government-backed digital currency; Vodafone became the latest firm to drop out of the Libra Association; Democrats urged the U.S. FTC to investigate Yodlee for allegedly selling consumer financial data without consent; and Canapi Ventures unveiled a new, $545 million fintech fund.