FinTech – Karma

Robinhood Hits 10 Million Accounts as Demand Rises for Commission-Free Trading

Scarlett Kuang — Thu, 05 Dec 2019 22:08:23 +0000

Robinhood, the commission-free stock trading platform valued at $7.6 billion, again showed itself to be bright spot in the fintech industry as its accounts soared to 10 million. The seven-year-old Silicon Valley firm is tapping into millennial’s demand for free, easy-to-use mobile services. While much smaller than established behemoths like Fidelity Investments and Charles Schwab, […]

The post Robinhood Hits 10 Million Accounts as Demand Rises for Commission-Free Trading appeared first on Karma.

Bank of America Looks to Offer Broader, More Sustainable Portfolios to Retail Clients

Daria Solovieva — Wed, 04 Dec 2019 21:13:13 +0000

You may not immediately utter social impact and Bank of America in the same breath, but the giant lender kicked off its impact investing program for retail clients back in 2013. “It is a marked transition over the last 10 years, but even the last three years in terms of demand we see from our […]

The post Bank of America Looks to Offer Broader, More Sustainable Portfolios to Retail Clients appeared first on Karma.

How This Fintech Startup is Advancing Conscious Consumerism with Transparency

Macy Muirhead — Wed, 04 Dec 2019 14:37:27 +0000

This piece is brought to you in partnership with the Conduit Connect. With tangible spending data, the statement “vote with your dollar” can be more than just a feel-good phrase — but the lack of reputable information has prevented the evolution of the conscious consumer. CoGo, short for “Connecting Good,” aims to fix this. The […]

The post How This Fintech Startup is Advancing Conscious Consumerism with Transparency appeared first on Karma.

Figure Technologies Raises Funds as It Aims to Revive Home Equity Loans with Blockchain

Scarlett Kuang — Tue, 03 Dec 2019 22:05:04 +0000

Figure Technologies, co-founded by student loan refinancing company SoFi’s Mike Cagney, is attracting investors as it seeks to reignite interest in home equity loans that fell out of favor after the 2008 financial crisis. The San Francisco startup, which provides mortgage refinancing and home equity loans, has already secured $53 million in Series C funds […]

The post Figure Technologies Raises Funds as It Aims to Revive Home Equity Loans with Blockchain appeared first on Karma.

Nigeria’s Central Bank, in Bid to Help Nation’s Underbanked, Takes Measure to Boost Payment Firms

Daria Solovieva — Tue, 03 Dec 2019 21:26:22 +0000

Nigeria’s central bank is planning to issue licenses to more payment providers, aiming to “improve the country’s financial-inclusion rate to 80% by the end of next year from about 60%,” Bloomberg reports. Central Bank of Nigeria Governor Godwin Emefiele spoke in Abuja last week, promising the new licenses “will help support innovation and competition as […]

The post Nigeria’s Central Bank, in Bid to Help Nation’s Underbanked, Takes Measure to Boost Payment Firms appeared first on Karma.

Portag3 Raises Largest Canadian Fintech Fund Even as Investment in Sector Slows

Bruce Rule — Tue, 03 Dec 2019 20:46:49 +0000

Portag3 Ventures pulled in $321.2 million in closing its second fintech-focused fund, making it the largest Canadian investing pool committed to early development in a sector that saw a decline in interest this year. The fund, which initially raised money last year, already has made investments in 17 companies – among them financial services provider […]

The post Portag3 Raises Largest Canadian Fintech Fund Even as Investment in Sector Slows appeared first on Karma.

Robo-Advisors Not Replacing Human Financial Planners — At Least Not Yet

Ron Day — Mon, 02 Dec 2019 21:41:20 +0000

Private equity and venture capital are pouring billions into robotic financial tools, but consumers still overwhelmingly want to talk to a live financial planner when it comes to getting investing advice. Only about 11% of financial planners currently use digital investment tools, according to a survey by Financial Planning, and that number actually declined slightly […]

The post Robo-Advisors Not Replacing Human Financial Planners — At Least Not Yet appeared first on Karma.

European Central Bank Explores Creating Its Own Digital Currency

Bruce Rule — Wed, 27 Nov 2019 20:08:20 +0000

The European Central Bank is leaning toward a “if you can’t beat them, join them” stance regarding digital currencies, recognizing shortcomings of the existing system and consumer demand for better solutions. The bank will explore new technologies that could ensure safety for consumers, including a central bank digital currency, ECB board member Benoît Cœuré suggested […]

The post European Central Bank Explores Creating Its Own Digital Currency appeared first on Karma.

India’s Paytm Gets $1 Billion Investment, Plans Expansion in a Boost to Underserved Payment Services

Margot Habiby — Mon, 25 Nov 2019 22:07:36 +0000

Paytm’s billion-dollar round showcases investors continue to see opportunities in serving the underbanked in markets like India. “The very business model of acquiring customers and small businesses and bringing them to the formal financial system is viable and our investors understand that,” Vijay Shekhar Sharma told Business Standard. “India is underserved when it comes to […]

The post India’s Paytm Gets $1 Billion Investment, Plans Expansion in a Boost to Underserved Payment Services appeared first on Karma.

Small Banks See Tech Giants as Biggest Future Threats, Survey Finds

James Peter Rubin — Mon, 25 Nov 2019 16:07:59 +0000

Smaller, retail banks no longer see their biggest competitive threat coming from inside their industry but rather from the efforts by global tech giants like Apple and Google to expand into their territory. More than six in 10 banking executives ranked big tech firms as the most severe threat to their bottom lines, according to […]

The post Small Banks See Tech Giants as Biggest Future Threats, Survey Finds appeared first on Karma.