Challenger bank tailors rates to encourage savings
HMBradley will assign interest rates according to how much customers set aside from direct deposits each month. ... Read full article
News Topic: Max Levchin
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Consumer lender Affirm raises $300M to fund rapid expansion
The Silicon Valley-based fintech, which recently announced a new partnership with Walmart, plans to add hundreds of new workers this year. ... Read full article
Can Citi and Chase beat fintechs at their own game?
The upstart lenders have been chipping away at credit cards’ consumer-lending dominance by offering fixed-rate loans with predictable repayment plans. Now the card giants are fighting back. ... Read full article
Walmart teams with Affirm to offer point-of-sale loans
The deal marks the first time that the retail giant will enable its customers to use fixed-rate loans, rather than credit cards, for big-ticket purchases in its stores and online. ... Read full article
Online lender’s aim: Turn borrowers into depositors
Affirm, which for six years has plied its trade as a point-of-sale lender, wants to move deeper into banking by offering a high-rate savings account. ... Read full article
Why point-of-sale lending is hot right now
It’s not necessarily new, but a confluence of trends — advances in technology, changing consumer preferences and banks’ need to diversify their balance sheets — has made it more popular than ever. ... Read full article