To date, more than $525B in Paycheck Protection Program (PPP) funds have been made available to help U.S. businesses in the wake of the economic downturn caused by the COVID pandemic. With the U.S. Small Business Administration (SBA) accepting applications for the second round of PPP loans through the end of March, lenders should be preparing for another influx in SBA loan requests if they have not yet done so.
Plaid announced on Thursday its new product deposit switch that aims to make it easier and quicker for clients to establish or change the destination of their paychecks, although it is currently in beta.
Mobile banking app Ando recently launched and says that the bank’s investments will go towards sustainable initiatives that combat the climate crisis.
Payroll infrastructure startup Check has publicly launched on Wednesday, and the company raised $35 million in Series B funding from Stripe and Thrive Capital.
Citizens is not stranger consumer financing or point-of-sale financing arena. Citizens Pay has has originated over $6.4 billion in loans and served more than 5 million accounts. And a new partnership with BJ’s may signal more growth ahead for this consumer financing business line.
Blackstone-owned wealthtech player Alight Solutions — a benefits and recordkeeping company that’s going public through a $7.3 billion SPAC merger — is using a potentially multibillion-dollar deal with the federal Thrift Savings Plan as the launchpad for its next-generation “wealth cloud” service.
Insurtech Rhino has raised $95 million in a funding round led by investment firm Tiger Global Management.
Insurtech Joshu has closed a $3.7 million seed funding round led by Blumberg Capital with participation from Engineering Capital, Correlation Ventures, Innovation Endeavors and Sure Ventures.
Insurtech Branch Insurance has a strategic partnership with security and smart home solutions ADT to offer ADT home security customers discounts on their home and car insurance.
Having been in fintech for more than two decades, Syncapay CEO and Chairman Juli Spottiswood knows a thing or two about the industry.
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