Accion Raises $23 Million to Invest in Startups
Vested's Emma Clarke reports on how nonprofit small business lender Accion has raised $23 million to invest in inclusive startups. The Accion Venture Lab Limited Partnership fund will make investments of around $500,000 to startups that leverage technology to bring underserved populations into the financial services system. TechCrunch reported that the fund is committed to making around one-third of its investments in Africa, which contains a majority of the world’s underbanked population.
Capital One Buys Robo-Advisor United Income
Capital One is snatching up robo-advisor United Income. The online company uses new technologies to offer integrated financial planning, forecasting, investment management, tax reduction, and retirement management. United Income CEO Matt Fellowes says United Income will still be managed by the same team, and it will be expanding to accelerate innovation.
Visa Launches Program to Help Fintech Startups
Global fintech investment reached nearly $111.8 billion in 2018. Visa sees this as an opportunity, and is launching a program to help fintech startups.
Fintech and the Banks: An Evolution
Milton Ezrati, Chief Economist at Vested, highlights the evolution of technologies and emerging business models that challenged traditional banking. Ezrati mulls the advent of mobile technology and evaluates the advancements and hurdles in the fintech industry.
DocuSign Earnings Awaited Amid Recent Investments
DocuSign earnings will be closely monitored next month as digital signatures are steadily adopted throughout the private and public sector. Quarterly results for the eSignature company are expected to reflect recent investments, partnerships and expansion efforts.
Chatbots Could Boost Retail Sales
Automated customer service that harness disruptive technologies could improve user experiences and boost annual savings for retailers. A research study by Juniper Research forecast improved retail sales through chatbot-based interactions.
Envestnet To Launch Advisor Analytics Tools
Envestnet introduced a suite of analytics tools to help advisors make improved data-driven decisions. At the 2019 Envestnet Advisor Summit in Austin, Texas, Advisor Analytics and RIA Pulse were presented.
Fidelity Survey - Institutional Investors Eye Digital Assets In Portfolio
Fidelity Investments surveyed U.S. institutional investors to research the appeal of digital assets. The findings showed half of the investors surveyed view digital assets as having a place in their investment portfolios, but opinions varied on how they would prefer to hold the assets.
Millennials Gobble Up Personal Finance Apps
Personal finance brands are seizing the opportunity to grab a piece of the millennial 'personal wealth' pie. CB Insights analyzed the fastest-growing personal finance apps to figure out the formula for capturing the Millennial generation.
FINRA Establishes Fintech Office
The Financial Industry Regulatory Authority launched an Office of Financial Innovation to aid in the digitized financial innovations in the markets. FINRA aims to foster investor protection and monitor market integrity with its latest move.
JP Morgan Eyes Blockchain Payments
JP Morgan is planning new settlement features on its Interbank Information Network (IIN) that aims to tackle the banking industry's payment system.
Vestwell Announces Funding Led By Goldman Sachs
Vestwell Holdings Inc. raised $30 million from Goldman Sachs Principal Strategic Investments. The technology platform for retirement plans offers companies a way to manage employees’ 401(k) retirement plans.