LendingClub to cut 225 jobs as interest rate rises impact loan demand
Company execs say the layoffs are a result of “reduced marketplace revenue” due to interest rate increases.
Company execs say the layoffs are a result of “reduced marketplace revenue” due to interest rate increases.
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Reuters reports the firm outlined a pre-tax loss of $1.2bn for the first nine months of 2022.
FinTech Futures chats with Pushkar Mukewar, founder and CEO of Indian fintech Drip Capital.
Post-acquisition, Pagaya and Darwin’s SFR business now operates in more than 30 markets across the US.
CEO Kris Marszalek says several factors have led to the decision to let go of around 800 employees.
Amex plans to “integrate Nipendo’s team, technology and capabilities” to boost its B2B payments offerings.
Firms would need to submit information on terms and conditions that “waive or limit” consumer rights.
JP Morgan acquired the student loan application fintech for $175 million in 2021.
The cuts amount to around 6.5% of the total staff headcount at Goldman and less than 3% at BlackRock.
Jain will build out the firm’s product team and manage its expanding product roadmap.
The round consists of $33m in equity and $7.5m in debt from Silicon Valley Bank.
Kathi Klawitter joins Allied Payment Network from banking and payments tech heavyweight Fiserv.
Coinbase CEO and co-founder Brian Armstrong says he is “still optimistic about our future and the future of crypto”.
With Paya’s acquisition, Nuvei expects to capitalise on domestic and global payments opportunities.
With Jack Henry’s tech, L&N FCU plans to continue expanding its services while maintaining its “hyper-local approach”.
Prior to Funding Circle, Allocca was chief operating officer (COO) at small business banking provider BlueVine.
The payments software firm is working with financial advisors as it gauges interest levels, sources tell Bloomberg.
The news comes after Wyre was set to be acquired by e-commerce checkout fintech Bolt in April last year for $1.5bn.
Silvergate Capital’s share value dropped by over 40% in response to the financial results.
Coinbase has also been ordered to invest an additional $50m into its compliance programme over the next two years.
Nadine Chakar replaces Sucurrency founder and CEO Dan Doney, who moves to the CTO role.
In a year marked by “significant volatility”, the agencies highlight a number of risks banks should consider.
The combined firm has plans to focus on the burgeoning market of wealth management aimed at Gen Z and millennials.
Watson joins The Clearing House from Swift, and will take up the new role from 1 February 2023.
The CFPB says between 2013 and 2021, the firm “failed to comply” with many electronic money transfer requirements.
FinWise says it selected Finastra to propel its banking business and build on its fintech partnership lending programme.
MacLean brings to the role more than two decades of experience, having spent over 21 years at Celero Solutions.
The Series B was led by a16z crypto and saw participation from A Capital, King River, Variant, and others.
How industry leaders leverage mortgage-as-a-service to increase minority and first-time homeownership.
Wells Fargo must pay more than $2bn in redress to 16 million affected consumers and a $1.7bn civil penalty.
The bank is expanding its partnership with Finastra to introduce new business payments services.
After January 2024, it is expected that Eschenbach will take up sole CEO responsibilities.
Voyager says the bid “sets a clear path forward” for customer funds to be unlocked “as soon as possible”.
The deal is the latest in a string of acquisitions for LSEG this year.
Jeffery will lead the company’s core strategic and operational teams.
Visa says the move will enable “greater access” to digital payments in the region.
The new investment brings Dataiku’s total capital raised to date to approximately $600 million.
MICT owns “100% of the operating business and assets” of Tingo after snapping up Tingo Mobile.
Trovata will host JP Morgan Asset Management’s Morgan Money investing application.