Hi! It’s Monday, June 29, 2020. Did you know that on this day 13 years ago, the Apple iPhone (1st generation) was released?? Leading Off Mastercard acquired open banking API platform Finicity for up to $1 billion. // The Brazilian central bank suspended WhatsApp’s mobile payments service only a week after it launched in the […]
Leading Off WhatsApp launched payments functionality in Brazil after several months of difficulty, allowing Brazilian users to send and receive money through the app using Facebook Pay. // The EU opened an antitrust investigation into Apple’s App Store and Apple Pay. // Quicken Loans, the largest U.S. mortgage lender, is planning an IPO, which could […]
Leading Off LendingClub laid off 30% of its workforce; Facebook acquired a $5.7B minority stake in Indian conglomerate Reliance Industries’ technology and telecoms arm; American multinationals are pilot testing China’s central bank digital currency; Monzo applied for a U.S. banking license; and Alibaba announced a major investment in cloud infrastructure. In the News LendingClub […]
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 […]
Leading Off Google will begin offering checking accounts to users through a partnership with Citi and a Stanford University credit union; Facebook announced its new Facebook Pay P2P payments service; FinCEN Director Kenneth Blanco discussed the applicability of the “travel rule” to crypto firms; the Fed highlighted the risks posed by stablecoins in its November […]
A federal judge ruled in favor of the NYDFS in its ongoing suit to prevent the OCC’s “fintech charter”; Mark Zuckerberg testified before Congress about Libra; Apple Pay is now the most popular U.S. mobile payments app; Kabbage expanded its product mix to include payments; Revolut launched in Singapore; and the Economist considers whether negative press and regulatory scrutiny have doomed the Libra project.