We lead off this week with a big M&A deal with MoneyLion making its first major acquisition. Big funding rounds for crypto companies, a new small-dollar loan offering with a twist and an important op-ed by a former SEC Chairman. Here are what I consider to be the top ten fintech news stories of the past week.
Fintech, CDFI offer small-dollar loan with new twist from American Banker – The National Asian American Coalition, a CDFI in California, is partnering with Asenso Finance to offer a small-dollar lending product with a difference. To qualify for a loan borrowers must complete a financial literacy program and in return will receive the best interest rates I have ever seen for a small dollar program.
America’s Future Depends on the Blockchain from The Wall Street Journal – Opinion piece by the former Chairman of the SEC, Jat Clayton, arguing that U.S. regulators need to move quickly on crypto regulation if we are to maintain our leadership of the global financial system.
The Top 5 Trends In Fintech And Banking For 2022 from Forbes – Ron Shevlin shares the trends he is watching for 2022. While it omitted some of the trends I am following (more on that shortly) it is a solid list and provides some good context for fintechs and banks planning their 2022 roadmaps.
Chime Users Can Now Make Deposits at Walgreens For Free from Bloomberg – One of the missing links for fintech companies is dealing with cash. Even as we are moving away from cash this is still an issue preventing fintechs from being the primary account for all users. Chime users can now deposit cash at 8,500 Walgreens locations.
Every Thursday the LendIt Fintech News team and a special guest discuss the news of the week live on LendIt TV, YouTube, LinkedIn, and Twitter. We have now made the show available in podcast format – just click on the audio player below.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.