Capital

Bank of America Adds Mobile Users, Sheds Branches

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1
April 16, 2014
Bank of America Adds Mobile Users, Sheds Branches

Mobile users continue to grow at Bank of America. The bank grew mobile users by 4% in the first quarter of 2014, while shedding 1% of its branches. Mobile users reached 15 million, almost 20% higher than one year ago. JPMorgan Chase and Wells Fargo both saw about 5% QOQ mobile user growth. 10%...
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Building a Bank from Scratch

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2
April 15, 2014
Building a Bank from Scratch

The bank of the future probably won’t be made of brick or stone, and may not be much to look at. It’s easier to say what it will do. Entrepreneur and startup mentor Jack Gavigan, who traded tweets with Marc Andreessen and others on the subject back in February, elaborated on his vision for a...
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VIDEO: Alternative Lenders Are So Hot Right Now

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0
April 10, 2014
VIDEO: Alternative Lenders Are So Hot Right Now

If you need to borrow money, you picked a great time. New “alternative” –meaning nonbank — lenders are popping up every day. Within the past week, Kabbage, a small business lender, and SoFi, which helps refinance student loans, received large votes of votes of confidence from investors. More recently, person-to-person lender Peerform received $1...
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Kabbage Starts White-Labeling Its Lending Service

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0
April 9, 2014
Kabbage Starts White-Labeling Its Lending Service

The recent successes of online lenders has made them attractive to investors — and now banks are entering the fray. Small-business lender Kabbage will soon white-label its service to “a very large financial services company,” according to TechCrunch. The online lender recently secured a $270 million credit facility from Guggenheim Securities, an investment arm of...
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SoFi, Flush With Funds, Plans to Offer Mortgages

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0
April 4, 2014
SoFi, Flush With Funds, Plans to Offer Mortgages

SoFi (Social Finance) just raised $80 million. How will it celebrate? By offering mortgages and personal loans, naturally. The company was founded by Stanford University Graduate School of Business graduates in 2011 to take on student loans. The idea was that students could finance their schooling by borrowing from alumni of their school, rather than...
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Four Technologies That Will Revolutionize Financial Services

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3
April 2, 2014
Four Technologies That Will Revolutionize Financial Services

A new wave of technological change is right beyond the next hill, really in the next couple of years. Its most visible symptom is the hyper-connectivity to the Internet, which fuels the evolution of: bitcoin-inspired distributed systems open APIs (application programming interface) as a new way to consumer business services on the internet crowd-sourced...
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Payment Processor PayStand Will Be a Router for Money

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0
April 2, 2014
Payment Processor PayStand Will Be a Router for Money

A new payments startup called PayStand will accept credit cards, e-checks and — you guessed it — bitcoins. CEO Jeremy Almond sees virtual currencies as a kind of online cash that gives more options to merchants and makes them less reliant on the card networks. “We’re looking to give all payments types equal weighting...
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Square Accepts Bitcoins, Too

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0
April 1, 2014
Square Accepts Bitcoins, Too

It was only a matter of time. Payment processor Square announced a partnership with Coinbase last night that will allow its merchants on Square Market to accept payments in bitcoins. If this announcement had come a year ago, we might have suspected it was an April Fool’s Day joke, but so quickly does the payments world...
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Andera to Be Acquired by Bottomline Technologies for $45 Million

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0
April 1, 2014
Andera to Be Acquired by Bottomline Technologies for $45 Million

After a long cold winter, warmth and sunshine are finally coming back — and M&A activity is heating up right along with it. The frenzy in financial services isn’t limited to the banks. Vendors have caught the bug too. Andera, the online account-opening specialist, will be acquired by cloud-banking provider Bottomline Technologies, the companies...
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Q2 Goes Public — with Patent Problems Looming

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4
March 20, 2014
Q2 Goes Public — with Patent Problems Looming

Q2 (formerly Q2 EBanking) may have some patent problems. Austin-based Q2 Holdings, the parent company of Q2 which is going public today, offers cloud-based banking services to some 300 community banks and credit unions as customers. Its software-as-a-service offerings are some of the most innovative in the industry, with an early emphasis on mobile account...
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