By Miles Raises $18 Million for Pay-By-Mile Auto Insurance

With the coronavirus keeping drivers off the road, there has been a lot of discussion surrounding auto insurance. In fact, many providers have recognized the decreased daily mileage (and the increased need for cash) during this time, and responded by offering rebates and credits to consumers in return. Because of this, the pay-by-mile insurance model Read more…

Ethical AI, Corporate Governance, and the Future of Financial Services

For every conversation about AI that begins with insects, moves quickly through primates, and then launches into the stratosphere of high-minded conceptions of superintelligence, talk about artificial intelligence among executives and entrepreneurs in the financial services and fintech world is far more grounded. This was the message from Clara Durodié, CEO of the Cognitive Finance Read more…

Raisin Launches Savings-as-a-Service Solution in the U.S.

European wealth management firm Raisin is bringing its Savings-as-a-Service solution to the U.S. The new offering, the first U.S.-based product from the Berlin-based fintech, will enable banks and credit unions to provide private-banking services typically not available to the average banking customer. Foremost, FIs that partner with Raisin will be able to leverage the company’s Read more…

Plaid Exchange Offers Open Banking in a Box

Since the dawn of APIs, the U.S. has struggled to create a consistent open banking approach. Banks and fintechs have battled with each other on screen scraping, customer data, and open access to third party providers. Banking technology company Plaid announced a new launch today to solve this struggle and unite banks, fintechs, and consumers. Read more…

Eltropy and Prisma Campaigns Help Credit Unions Better Engage Members

Text messaging platform Eltropy and omnichannel marketing innovator Prisma Campaigns have teamed up to help credit unions communicate more effectively with their customers. The new solution, which integrates technologies from both companies, will enable credit unions to leverage online banking, mobile banking, text, and SMS channels to launch targeted marketing campaigns. “Increasingly, credit unions are Read more…

Emailage Acquired by LexisNexis Risk Solutions

Fraud prevention solutions provider Emailage recently announced it has been acquired. LexisNexis Risk Solutions, owned by parent company RELX, closed the deal for $480 million. Emailage was founded in 2012 by Rajesh Pandey and Rei Carvalho. The company offers an email risk score that uses email address metadata to help businesses assess transactional risk and Read more…

Robinhood Raises $280 Million; Earns $8+ Billion Valuation

Score another bullseye for Robinhood. The millennial-focused social trading and investing app, which drew criticism during the market meltdown in March for repeated outages, is now sitting with $280 million in additional funding. The new capital comes courtesy of a just-completed Series F round led by Sequoia Capital, and gives the company a valuation of Read more…

Banks, Credit Bureaus Take Baby Steps Toward Broader Blockchain Embrace

From sharing customer data to smart payments, a number of central banks around the world are turning to blockchain technology to make markets easier for new entrants and to improve processes in everything from payments to regulatory authorizations. In Argentina, the country’s central bank has embarked upon a pilot project with IOV Labs, which has Read more…

Email Specialist SparkPost Celebrates Fifth Anniversary

The coronavirus pandemic has accelerated many technology trends that were already in place. The growing reliance on digital communication is one of many examples of technologies whose value we may have taken for granted and are once again re-appreciating. This is especially true for businesses that have not kept up with innovations in digital communications Read more…

Onfido Raises $100 Million Because “Identity is Broken”

Digital identity verification platform Onfido reeled in $100 million in a round led by TPG Growth this week. Salesforce Ventures, Microsoft’s M12 Capital, and others also participated. The London-based company’s total investment now sits at just over $182 million. The company, which counts TechStars, YCombinator, and 500 Startups among its previous investors, will use the Read more…

Aussie! Aussie! Aussie! Challenger Banks Down Under Raise Capital Amid Crisis

What a week it’s been for the challenger bank business in the Land Down Under! Australian small business challenger bank Judo just announced a major fundraising, securing an investment of $307 million (AUD 500 million) from a pair of Australian government agencies. The Australian Office of Financial Management (AOFM) and the Australian Structured Finance Support Read more…

Building a Financial Advisor for Main Street America

We recently chatted with SuperMoney Founder and CEO Miron Lulic to give us an update on the company’s platform that helps consumers reach their financial goals. Miron, who strives on “creating something from nothing,” founded SuperMoney in 2013. The California-based company has raised $1 million and topped $2 billion in loan requests on its platform Read more…