Paycheck Protection Program (PPP) loans presented trouble for FinTech lenders, a University of Texas study released Tuesday showed. The study, which examined more than 10 million loans for potential red flags, showed 9 out of 10 of the highest rates of suspicious loans being approved by FinTechs. To some extent, this dubious distinction makes some sense; more than 70% of all … [Read more...] about FinTechs Led in PPP Fraud, UT Study Shows
Chicago News: Cannabis Payments, FinTech Partnerships, Record VC
As a Chicago-based publication, FInTech publishes occasional updates on FinTech news and reports from Chicago's vibrant finance and technology organizations. A Guide to Cannabis Payments Building on success and partnerships in cannabis payments processing, AeroPay published the 2021 Guide to Cannabis Payment Processing Solutions. The startup provides a platform that moves … [Read more...] about Chicago News: Cannabis Payments, FinTech Partnerships, Record VC
Institutional DeFi 101
During a week that featured a dramatic battle over crypto taxation in the U.S. Senate, a major recovery in the price of bitcoin and ether, and the most bizarre crypto hack and recovery ever, the steady interest in decentralized finance by institutional investors continued. The evidence: a steady stream of comprehensive DeFi research for institutional investors. The … [Read more...] about Institutional DeFi 101
In FinTech We Trust
As the digital revolution becomes more and more ubiquitous, the question of what’s going to make FinTechs stand out from the pack becomes increasingly more pressing. The answer, that said, is as old as business – reputation and trust are the drivers that will make or break any financial company no matter how cutting-edge their technology products. How best to build that … [Read more...] about In FinTech We Trust
FinTech Innovation: It’s About People
FinTech innovation has driven a revolution in financial services that has, over the past year, truly come to the foreground as digital banking increasingly becomes the trusted norm for many customers. From groundbreaking new services in mobile payments, digital currencies, blockchain, peer-to-peer lending, and much,, innovation has long been an important focal point in the … [Read more...] about FinTech Innovation: It’s About People
Washington DC Gets Crypto Fever
The political jockeying for regulatory positions on digital asserts continued this week. The head of the Commodities Futures Trading Commission let the Securities Exchange Commission know that only the CFTC could regulate crypto. The Biden administration fought cuts of provisions to regulate cryptocurrencies in the infrastructure bill. Meanwhile, American Banker wonders … [Read more...] about Washington DC Gets Crypto Fever