Survey to Study Financial Planning Behavior in a Pandemic Chicago wealth startup Genivity launched a behavior research survey, Financial Planning in a Pandemic-Driven Economy. The survey is designed to measure the consumer behavior and attitude towards long and short term financial planning in wake of the 2020 economic recession and a global pandemic. “This information will … [Read more...] about Chicago FinTech News – Female Founders Lead
Addressing the Challenges of Synthetic Identity Fraud
The Federal Reserve recently released a white paper sharing insights on combating the risk of synthetic identity fraud. As we noted in an earlier article on the subject, this type of fraud is particularly difficult for traditional detection methods to flag, and it represents the fastest-growing type of financial crime in the United States. It’s a problem uniquely built for … [Read more...] about Addressing the Challenges of Synthetic Identity Fraud
Emerging Cannabis Market Presents Opportunities for Payments Trailblazers
In January 2020, Illinois joined 10 other states in the country (along with the District of Colombia) by legalizing recreational marijuana. While this has presented an immediate business opportunity that many have taken advantage of, the continued federal ban on the drug has led to unique challenges for both business owners seeking ways to process payments, as well as for … [Read more...] about Emerging Cannabis Market Presents Opportunities for Payments Trailblazers
FinTech Reaches a Digital Tipping Point
The world of digital transactions is in the middle of a meteoric rise, spurred by major lifestyle changes in the face of Covid-19. Ecommerce has developed more in the past three months than in the ten years prior, and that growth still hasn’t plateaued. How do FinTechs take advantage of that growth and adjust for the future? That was the theme of Plug and Play Ventures’ … [Read more...] about FinTech Reaches a Digital Tipping Point
Chicago FinTech News 6-26-2020
Chicago Student Loans by A.M. Money offers no-cosign funding. Chicago born-and-raised black FinTEx member A.M. money has matched his life experience with a team and a vision to expand funding for students without access to a cosigner for student debt. Rapunzl Co-Founder Highlights Diversity Continuing Diversity Problems. Rapunzl co-founder (a previously-featured company on … [Read more...] about Chicago FinTech News 6-26-2020
FinTech Offers New Tools in Fighting Fraud
Cybercrime continues to become more sophisticated and more prevalent as ecommerce accelerates. Synthetic identities are being used to open accounts, and account takeovers can be automated by networks of bots. Fraud targeting businesses will likely only continue to expand as the post-Covid world turns increasingly to online business, and staying on top of those attacks will … [Read more...] about FinTech Offers New Tools in Fighting Fraud