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From Investing To Budgeting, How Millennials Are Disrupting Personal Finance

CB Insights

But legacy institutions are fighting back, cherry-picking the best financial innovations that their younger competitors develop — investment robo-advisors, AI-based budgeting, and expense monitoring — and incorporating them into their services. Investing: Robo-advisors and micro-investing lower barriers to entry.

Finance 77
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SMB Lenders: SmartBiz Wisely Targets Small Businesses Looking for SBA Loans

Fintech Labs Insights

SmartBiz Loans, originally founded in 2009 as BillFloat by Ryan Gilbert and Sean O’Malley. In 2014, the company changed its name and pivoted to the small business arena with an SBA loan-focused marketplace called SmartBizLoans.com. Founded: 2009 (originally as BillFloat). the so-called payday lending space). Company Vitals.

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Where Top US Banks Are Betting On Fintech

CB Insights

In the last year, banks have homed in on the consumer, backing robo-advisors and companies offering easy-to-use money management apps. . These moves are also in line with the growth of Goldman’s digital finance arm Marcus , which grew to $2B in personal loan originations in November 2017. . in disclosed funding.

FinTech 78
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UK Cards Show Signs of Post-Christmas Debt Stress

FICO

Although results are still noticeably below those seen during the last economic downturn, more recent activity indicates possible areas of concern and debt stress: The percentage of 2 cycle accounts was 26% higher than in February 2016, and was the highest for February since 2014.

Posting 40
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LendingClub Settles With SEC, DOJ

PYMNTS

Both the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) have officially ended a two-year investigation of LendingClub, its subsidiary LC Advisors (LCA), its founder and former CEO Renaud Laplanche and its former CFO Carrie Dolan. On Friday (Sept. The SEC Finding. The DOJ Finding.

P2P 54
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Foot In Mouth: 43 Quotes From Big Corporate Execs Who Laughed Off Disruption When It Hit

CB Insights

Even Apple founder Steve Jobs voiced hesitations about variations on the original iPhone, arguing that phones with larger screens would never catch on: “You can’t get your hand around it,” Jobs said when Samsung and Google came out with phones larger than the 3.5” original iPhone. “No Robo-advisors. We have ‘I’.

Bitcoin 78
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From AT&T To Xerox: 65 Corporate Innovation Labs

CB Insights

Originally opened in 2008 by a group of Googlers who wanted someplace a bit more free-form to do their “20% work.” (“20% work” itself is a form of constant innovation: it’s the 20% of the workweek during which Google employees get to work on projects not directly connected to their core tasks.) Founded: 2014. Founded: 2008.