Bank

  • Stellar Partners With Oradian To Bring Instant Money Transfer To Nigeria

    Stellar Partners With Oradian To Bring Instant Money Transfer To Nigeria

    Stellar, the Stripe-backed open-source payment network, has launched its first major integration in the form of a partnership with Oradian, a company that sells cloud-based software to micro finance institutions (MFIs) in developing countries. As a refresher, Stellar is a non-profit foundation with the goal of connecting different financial systems around the world. Started by the… Read More

  • Opportunities In The Risk Business Abound As Insurance Is Ready For Disruption Crunch Network

    Opportunities In The Risk Business Abound As Insurance Is Ready For Disruption

    Whether medical, automotive, life, residential, or commercial, the value proposition of smoothing out potential cash flow outlays often makes sense. Pretty cool. But on any chart highlighting relative customer satisfaction across industries, you will consistently find that insurance ranks among the last — only ahead of real estate, telcos and cable companies. Read More

  • J.P. Morgan, OnDeck And The Future of Alternative Lending Crunch Network

    J.P. Morgan, OnDeck And The Future of Alternative Lending

    Earlier this month, J.P. Morgan announced a strategic partnership with OnDeck Capital to originate, underwrite, and distribute loans targeted specifically at small businesses. As evidenced by a 28% single-day spike in OnDeck’s share price, this announcement clearly is a big deal to one of the leading FinTech companies today, and has major implications for the future of alternative lending. Read More

  • Aspiration, A “Merrill Lynch With A Conscience,” Gains Traction

    Aspiration, A “Merrill Lynch With A Conscience,” Gains Traction

    As consumers, we can probably agree that bank profits are, well, gross. In the second quarter of this year alone, U.S. lenders wrung a record $43 billion from their customers. It’s the kind of stat that a small but growing two-year-old, L.A.-based investment company called Aspiration is increasingly using to gain new customers. In the words of cofounder and CEO Andrei Cherny… Read More

  • Spare5 Raises $10M Series A Round For Its Mobile Mechanical Turk Service

    Spare5 Raises $10M Series A Round For Its Mobile Mechanical Turk Service

    Spare5 lets businesses outsource menial tasks like tagging and describing images, cleaning up data and classifying content to smartphone users who want to earn a few cents while standing at the bus station. It’s basically a mobile-centric version of Amazon’s Mechanical Turk and it now has another $10 million in the bank thanks to a Series A funding round led by Foundry Group… Read More

  • Capital One Acquires Oakland-Based Design And Development Firm Monsoon

    Capital One Acquires Oakland-Based Design And Development Firm Monsoon

    Capital One has now made another acquisition aimed at improving its product design capabilities with today’s announcement that it has bought Oakland, California-based Monsoon, a design studio, development shop, marketing house and strategic consultancy. The 40-person Oakland team, which has done work developing apps and sites for companies like Yammer, Zazzle, the NBA, HP, Cisco… Read More

  • Your Bank Should Be More Like Your Waiter And Less Like Your Landlord Crunch Network

    Your Bank Should Be More Like Your Waiter And Less Like Your Landlord

    The financial services industry in America is locked into a business model of exploitation. For far too long, this has gone largely unchecked and unquestioned, even when advances in technology mean it doesn’t have to be so. Read More

  • Rumor Has It That Pebble Is On The Rocks Even With $18 Million In The Bank

    Rumor Has It That Pebble Is On The Rocks Even With $18 Million In The Bank

    Smartwatch maker Pebble seems to be in some trouble. According to sources close to the company, the company is having trouble maintaining its growth and has turned to a Silicon Valley bank for a $5 million loan and $5 million line of credit. Valley VCs have been turning down the company’s requests for new capital. Pebble CEO Eric Migicovsky offered no comment. The company, which… Read More

  • Securing A Huge Growth Round Crunch Network

    Securing A Huge Growth Round

    Pitching VCs is a serious challenge at any stage, but asking for a $30-60 million check is usually the sale of a founder’s life. Convincing an investor to accept a valuation that most normal people think you’d deserve in a year’s time (at best) piles on the challenge. I’ve recently been working with a few of our portfolio companies on these kinds of deals and wanted… Read More

  • No Traditional Financial Institutions? No Problem Crunch Network

    No Traditional Financial Institutions? No Problem

    On Lending Club’s February 2015 quarterly earnings call, an analyst asked CEO Renaud Laplanche a simple question: have you considered getting the loans you’re issuing rated? Renaud had a simple answer: We have, but we won’t. As Renaud said, the marketplace lending platform’s loan grading system, which it illustrates on its website, is in many ways more transparent and… Read More

  • Online Banking Service Simple Just Made Bank Transfers Faster

    Online Banking Service Simple Just Made Bank Transfers Faster

    Simple, the online banking service acquired by BBVA earlier this year, had an overall goal of addressing the various pain points found at traditional banks, like minimum balance requirements, fees, overdraft charges, and more. Today, the company is making another improvement as it’s introducing a way to speed up bank transfers between Simple and accounts you hold at other… Read More

  • An End To Bank-related Phishing

    There’s no doubt that phishing has become a huge problem. If you legitimately bank online, use Paypal, or have an eBay account, it’s beyond my comprehension how you manage to tell the real e-mails and fake e-mails apart. But Mikko over at F-Secure has what seems like a foolproof plan to counter bank-related phishing scammers. Make a new top level domain called .bank. This new… Read More

  • Bow to Your New Banking Robotic Master

    We love robots. We really do. And we don’t just say that so that our asses are covered when we’re forced to serve mechanical overlords—we’re saying it from years of experience with Transformers. Robots can be helpful, like this Talking Robot Bank from Sharper Image. This robotic assistant is a piggy bank that features the grim visage of a destructive droid that… Read More