Bye Bye Banks?

By James Haycock | Curating the latest articles about disruption in Financial Services. Expect articles on new entrants, technology and consumer behaviours as well as innovations from the established players.

Apple is in talks to launch its own Venmo

Could the money-transfer service be called Apple Cash, perhaps?<p>Apple’s on-again, off-again flirtation with building its own money-transfer service appears to be back on.<p>The company has recently held discussions with payments industry partners about introducing its own Venmo competitor, according to …

Banking

Millennial lender Upstart just raised $32.5 million to license its tech to other companies

Upstart, a nearly five-year-old online lending company that prides itself on quickly identifying people who are less likely to default on money leant them, has raised $32.5 million in fresh funding that brings its total funding to date to around $85 million. Partly, the company plans to use the …

Root Insurance launches a new car insurance company

Alexander Timm has been working in the insurance industry since he was 14. While that’s strange enough, what’s even weirder is that Timm really loves the work.<p>He’s so enamored of the business that he’s founded his own insurance company, Root Insurance, to remake the process of applying for — and …

MasterCard users will soon be able to manage their accounts over Facebook Messenger

MasterCard account holders will soon be able to check on their accounts, track their spending, review past purchases and more right in Facebook Messenger. That’s right – MasterCard is the latest company to embrace Facebook’s chatbot platform as a new means of interacting with its customers in an …

Verse banks $8.3M Series A to accelerate its p2p payments play in Europe

Another player in the packed p2p payments space is announcing an $8.3 million Series A funding round today. SF and Barcelona based Verse is gunning to be the Venmo of Europe — given Venmo hasn’t yet shown an inclination to expand its mobile social payments app outside the US.<p>The Series A is led by …

N26 announces a premium Black card with Allianz travel insurance

What’s missing from N26? The company has been slowly but surely building a new bank account from the ground up. This time, the company is trying to recreate the insurance product that you typically get with a Visa Premier or MasterCard Gold. So N26 is launching the N26 Black card.<p>The startup has …

Lending Club zooms into car refinancings in turnaround effort

Many Americans learned through Lending Club that they can refinance their credit card debt online; now, the lending marketplace is hoping they’ll start refinancing their automotive loans using its platform, too.<p>Indeed, though automotive lending is a massive market, car refinance is far smaller …

What’s On Your Phone? Probably Not Your Wallet

Mastercard is just the latest financial behemoth to jump into the mobile wallet game, but it’s not clear if anyone is winning in this space.<p>At a grandiose event atop the World Trade Center, Mastercard unveiled new technology that will enable partnered banks and retailers to send and accept money …

Money transfer company TransferWise raises further $26M at a $1.1B valuation

After months of rumours, TransferWise, the London-headquartered money transfer startup and fintech darling, has confirmed that it has raised a further round of funding.<p>Described as ‘top-up funding’, the $26 million round was led by investment management firm Baillie Gifford, with participation from …

Lending Club: from disruptive outsider to traditional financier

Remember when peer-to-peer lending was supposed to be the antidote to the financial sector’s shady practices? Instead of dealing with firms full of …

Morgenthaler