Last year proved to be the year of contactless payments in the UK — more than 13bn transactions were made over 12 months, with an average of 415 every second.
Investments in fintech skyrocketed in 2021, as did consumer adoption of fintech apps. That makes finding the “biggest” winners and the rare losers more difficult. But that’s what we’re here for at the Fintech Snark Tank. This year’s winners: Square, Plaid, Klarna, SoFi, and OpenSea.
Although Chime gained 2.5 million new customers in 2021, Current more than doubled its customer base from 2.2 million to 5 million customers throughout the year. Why did Current do so well? Rewards is a big part of the story.
Brent Whitehead and Matt Lohstroh are mining bitcoin off flare gas from oil drilling.
European banking profits are at risk from digitization according to a McKinsey report; the report, "A Brave New World for Global Banking", says European banks have $35 billion, or 31%, of profit at risk from digitization; fee-based products for traditional banks versus online banks is the main factor for profit; McKinsey says banks must enhance their business models, provide competitive digital tools and data analytic platforms; also suggests that banks partner with financial companies across the industry to reduce and share innovation costs; the McKinsey report also says banks will need to streamline their information technology structures and be more proactive in their regulatory strategies. Source
According to new research by global payment network, Mercuryo, over one third of UK finance businesses are now using blockchain to facilitate payments, as demand for innovation soars.
A new survey by Fidelity found 36 percent of U.S. and European institutional investors own crypto assets with Bitcoin being...
JPMorgan Chase and HSBC are among the banks that have set up shop in virtual worlds or plan to.
A new report by the World Economic Forum shows that more than 40 central banks have begun some sort of...
ForUsAll is seeking to invalidate recent agency guidance that says companies that offer cryptocurrencies in retirement plans should expect to be investigated.