Two years ago the Federal Reserve released Strategies for Improving the US Payment System, a plan that was intended to improve the payment system by making it faster, more secure and more efficient. Since this plan was released, the Fed has collaborated with key stakeholders to implement strategies from...
There have been heated discussions about where our country is heading under the Trump administration since the presidential election ended. In particular, FinTech, a sector with increasing significance to the economy, is watching closely to figure out where the future lies for the industry. An open internet environment, as...
SoFi, an online personal finance company, has partnered with Fannie Mae to offer student loan borrowers a cash-out refinance option. This new loan option, called Student Loan Payoff ReFi, allows consumers to use their home equity to pay off their student debt. By paying down student debts, borrowers can...
As fintech companies continue to grow and garner worldwide attention, the Hong Kong Monetary Authority decided to capitalize on this. The Hong Kong Monetary Authority is establishing a regulatory “sandbox” to enable faster trials of products and to maintain competitive versus its peer countries such as China, Australia, and...
As of today, the US may be the financial center of the world, but many believe it is lagging behind when it comes to innovation. This is partly due to the many laws and regulations financial services firms are required to follow. The proposed “Financial Services Innovation Act of 2016”...
JP Morgan joined hands with OnDeck Capital to help make loans available to its small business customers in an inexpensive and quick process. Bank of America similarly inked a deal with ViewPost in an effort to provide small business users with a way to manage their cash flows better....
Fundraising with online crowdfunding platforms can be rewarding but there are risks and still many open questions. Beyond the obvious concern of fraud or misleading information provided by companies, many believe the “wisdom of the crowd” in often highly technical, early stage businesses is flawed. Many believe without a...
As digital payments such as credit cards are widely accepted nowadays, one may wonder whether the payment methods of card and non-card (for example, account to account/ACH) will move in different orbits. Will the digital payment replace the traditional payment method some day or will they just merge together...
Goldman Sachs values the fintech industry at US$4.7 trillion. This value has increased recently because of the large influx of VC and strategic capital in the last two years. In 2013, there were $4.05 billion of investments into FinTech. This increased over three times to $13.8 billion in 2015....
The people of China have been slowly but surely getting more involved in fintech services. Unlike in the West, where the people have been sticking more to traditional institutions where they believe it’s safer than online companies, the people of China have no issues with trusting online mediums for...
Castle Placement
