Bank

  • Albert raises $2.5 million for its finance app that helps you save money

    Albert raises $2.5 million for its finance app that helps you save money

    Everyone knows the basics of how to improve their financial health: put money into savings, track your spending, reduce your debt, look for ways to save on your monthly bills, and make smart investments. Where people struggle is translating that knowledge into specific actions you can take today. That’s where an application called Albert steps into help. The startup, which has now closed… Read More

  • NSF may shut down West Virginia’s Green Bank Telescope and people aren’t happy

    NSF may shut down West Virginia’s Green Bank Telescope and people aren’t happy

    Tight budgets have forced the National Science Foundation to consider shutting down and deconstructing the Green Bank Telescope, the largest steerable telescope in the world. This consideration has caused controversy among astronomers and members of the general public alike. Located in Green Bank, West Virginia, the GBT was opened in 2001 and is a state-of-the-art radio telescope primarily used… Read More

  • N26 announces a premium Black card with Allianz travel insurance

    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. The startup has been working with an insurance company directly and is now able to provide the same kind… Read More

  • Zelle p2p payments push to compete with Venmo now has 19 US FI backers

    Zelle p2p payments push to compete with Venmo now has 19 US FI backers

    The US finance industry might finally be getting its ducks in order to compete with the likes of PayPal-owned social payments platform Venmo. Today bank network operator Early Warning announced it has 19 US financial institutions signed up to a forthcoming payments network called Zelle, due to launch in early 2017. Read More

  • Number26 is now a true bank as it now has a full banking license

    Number26 is now a true bank as it now has a full banking license

    Berlin-based startup Number26 is trying to reinvent the bank. This might sound crazy, and that's why the startup has processed step by step. After partnering with Wirecard for the banking back end, attracting 200,000 users and raising tens of millions of dollars, the company now has a full banking license to operate in Europe. Read More

  • Blackmoon launches in the US to match investors with balance-sheet lenders

    Blackmoon launches in the US to match investors with balance-sheet lenders

    It was only a matter of time before Tinder for balance-sheet lenders and debt investors became a thing. Financial matchmaking platform Blackmoon launched this week in the United States. The platform is designed to help institutional investors access non-bank balance-sheet loans. The Russian marketplace Lending-as-a-Service platform is also adding a New York office to its international… Read More

  • 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