In some ways, the moves are natural for tech startups with financial ambitions. Despite the growing success of fintech upstarts hailing from San Francisco, Wall Street institutions remain on top of the financial world.
In marketing themselves to small companies, challenger banks are offering cool gadgets and a sympathetic ear about the hassles of being bank customers.
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Yale researchers have recommended several consumer banking products and services that could help those with mental health challenges manage their money.
Bank regulators are considering a bypass to the 2015 court ruling governing loan sales that would ultimately offer more credit options to entrepreneurs.
George Cook could have joined Somerset Trust, where his father is CEO. Instead, he founded Honeycomb Credit, a crowdfunding platform that competes with banks.
A more practical approach for U.S. regulators on whether to bring fintechs into the banking fold might be ‘better the devil you know than the devil you don’t.’
