US FinTech | 2023 #25
Weekly news up to Thursday, 22nd of June 2023
THIS WEEK’S FUNDING NEWS OVERVIEW
For the past week’s funding news overview, we recommend reading our weekly #DoneDeal newsletter 👇
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REPORT
The Banking Battleground 2023: Pulling Back and Pushing Ahead.
This third edition of The Banking Battleground presents the findings of CCG Catalyst’s 2023 US Banking Study and explores how the industry is thinking about what comes next.
👀 NEWS HIGHLIGHT
Lenders can now more easily embed Plaid Link into their user journey so that they can start using cash flow data in underwriting.
With cash flow underwriting becoming the industry standard, our goal is to make it as easy as possible for lenders to access real-time cash flow data through Plaid.
💡INSIGHTS
The Bay Area dominates this year's Forbes Fintech 50 list.
- 22 in Bay Area
- 11 in NYC
- 2 in Utah, Boston
- 1 in Miami, Chicago, ATL etc.
🧐 ANALYSIS
Analyzing Apple’s fintech strategy: How the tech giant is quietly building a next-gen fintech ecosystem.
From high-yield savings accounts and credit cards to installment loans and contactless payments, the tech giant is growing its footprint in financial services. We mined Apple's acquisitions and partnerships to discern its strategic priorities.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🇺🇸 NATIONAL HIGHLIGHTS
⭐️ONE is offering users a 5% annual percentage yield on savings accounts of up to $100,000.
⭐️Synapse is laying off almost a fifth of its workforce. CEO, Sankaet Pathak, announced the 18% job cut.
⭐️AmEx to debut on-demand virtual cards for expenses with PayEm integration.
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VC FUNDS
Blackbird AI raised $20m in a series B funding round. The funding was led by cyber security investor Ten Eleven Ventures, alongside a number of other venture capital firms.
PAYMENTS
Treasury Prime announced a strategic partnership with Checkout.com. The collaboration aims to foster payments solutions that benefit enterprises and their end-users, who will work directly with Checkout.com to enable new capabilities.
BNPL
Citizens announced that it is working with Wisetack in a partnership that will initially focus on BNPL loans for consumers fixing up their homes, repairing vehicles and getting medical services in a tightening economy.
CRYPTO
U.S. withdraws new charges in Sam Bankman-Fried case. Federal prosecutors asked a judge to remove five charges against alleged crypto fraudster.
EDX Markets launched after a litany of finance behemoths announced its creation back in September 2022.
Wyre has said it is winding down operations “in order to protect the best interests” of its users and stakeholders.
INVESTMENT
Blackboxstocks invests $8.5 million in first step towards merger with Evtec. The companies entered into a securities exchange agreement.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.