Figure launches digital fund services using blockchain

September 18, 2020.
U.S.-based fintech Figure has launched the first end-to-end digital fund services using blockchain technology, adding to its existing portfolio of lending and banking offerings.

Figure opens first blockchain-based loan marketplace with promise of transparency

August 25, 2020.
U.S. startup Figure launched the first loan marketplace to host the buying and selling of loans on blockchain, saying it will provide a cheaper, faster and more transparent system than existing loan-purchasing options.

Most Australian wealth managers cutting fees to compete with robo-advisors: GlobalData

August 11, 2020.
Three out of four Australian wealth managers have either reduced fees or plan to do so in order to remain competitive with a growing proliferation of lower-cost robo-advisors, showing a particularly strong shift, Global Data said.

Bill would mandate Federal Reserve use economic levers to promote racial equity

August 5, 2020.
Democrats in the House and Senate banking committees unveiled legislation on Wednesday that would make unprecedented changes to the mission of the U.S. Federal Reserve, creating a mandate to reduce racial disparity across the economy.

Senators accuse Upstart, SoFi of discriminatory credit evaluation standards

July 31, 2020.
Three U.S. lawmakers accused fintechs including Upstart and SoFi of using credit assessment methods that could result in systemic racial discrimination, and called on the Consumer Financial Protection Bureau to curb those practices.

Varo becomes first US fintech allowed to operate as a national bank

Last modified July 31, 2020. Published July 31, 2020.
Mobile banking platform Varo Money received approval from U.S. regulators for a national bank charter, becoming the first fintech to receive that designation as the sector fights for greater legitimacy.

Fintech SoFi makes renewed pitch to regulators for bank charter

July 9, 2020.
Financial technology company SoFi applied for a national bank charter with the U.S. Office of the Comptroller of the Currency on Thursday, after an earlier attempt in 2017 for an industrial loan charter was withdrawn amid controversy involving former executives.

Credit Suisse merges investor portfolio software startups

June 17, 2020.
Credit Suisse Asset Management’s fintech equity group NEXT Investors is combining two of its existing portfolio companies into a new platform, Portfolio BI, which provides enhanced tools for portfolio managers.

Payments startup Marqeta increases valuation to $4.3B with new funding

May 28, 2020.
Fintech startup Marqeta has added $150 million in new funding from an institutional investor that valued the card issuing and payment processing company at $4.3 billion, more than double its $1.9 billion valuation from May 2019.