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Ride-hailing giant Uber has launched a series of financial services that establishes the firm’s payments arm. The US firm unveiled its Uber Money unit yesterday, which includes a digital wallet, no-fee $100 overdraft protection, as well as upgraded debit and credit cards. The business will roll out “real-time payouts” to its four million drivers around…
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Fintech start up Greensill has landed a $655m investment to launch a new service that will target payday lenders. Japanese conglomerate Softbank has backed the funds for London-based firm, whose main business is to provide small firms working capital finance to run their day-to-day operations, to cover payments due from large corporations. Greensill said today…
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The collapse of peer-to-peer lender FundingSecure into administration this week has left some in the industry estimating that up to half of these specialist lenders could close their doors in the UK over the coming year as new city rules take effect. The fall of Buckinghamshire-based FundingSecure has put £80m of loans at risk threatening…
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Revolut has launched today in Singapore, making it the digital bank’s first venture into Asia. The London-based bank, which has over 7 million customers in Europe, said its new service already has 30,000 customers as it has been testing its app on the island city-state for the last year. The move comes days after the…
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Ripple, the company behind the popular, banking-centric XRP cryptocurrency, has just opened up an office in Washington D.C., reports Forbes. On top of this, the company’s Global Head of Government Relations is representing the company in the Blockchain Association. Worth noting even more is the fact that Craig Phillips has joined the Ripple Board of…
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Revolut has struck a deal with Mastercard that will see the US giant handle the fast-growing digital bank’s credit card business when it first launches in America. The agreement with British-based Revolut also means Mastercard will handle “a minimum of 50 per cent of all existing and future cards Revolut issue in Europe”. Loss-making Revoult…
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BNP Paribas has snapped up a stake in a Spanish wealthtech firm allowing it to “significantly” beef up the reach of its wealth management platform. The powerhouse French bank said it had agreed a deal to buy a 22.5 per cent stake in Allfunds for a undisclosed sum. BNP said the agreement allowed the two…
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Freetrade is a challenger stock broker that is working to change how users have access to stock trading and the whole financial market. By offering a freemium number of services, the company is providing solutions to make it possible for everyone to have easy, accessible, and affordable stock ownership. In a recent interview with LearnBonds,…
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The fintech industry is growing all around the world, and Asia is not being left behind. According to a recent report released by the ADBI Institute, challenger banks could surge in China and Hong Kong this last quarter. The Hong Kong Monetary Authority (HKMA) aims at embracing technology and innovations related to the fintech market….
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This week has been good for some, not for others. Bitcoin has failed to remain at support and is revisiting the high $7k region again. Technical indicators are predicting more declines, and total market capitalization has shrunk again since Monday. Bitcoin has been on the back foot for most of this week, starting out at…
