Articles by Anna Irrera

Personal Finance Firm Credit Karma to Offer Checking Account in U.S.

Personal-finance company Credit Karma said on Tuesday it would launch a checking account to U.S. members this year, making it the latest fintech to join the crowded digital banking market. Credit Karma Money Checking will initially be available only to …

Swiss Cryptocurrency Fundraiser to Pay Tezos Investors $25M to Settle Class Action

A three-year-long U.S. court battle over a cryptocurrency fundraiser, one of the largest initial coin offerings ever, has ended with a Swiss foundation paying $25 million to participants who lost money and their lawyers. The litigation followed a Reuters investigation …

Analysis: Fintech Funding Slides as Coronavirus Casts a Chill with Venture Capitalists

Aritra Chakravarty, founder of London-based online accounts and investments provider Dozens, admits it’s a tough time to be seeking up to 15 million pounds ($19 million) for a start-up. “It’s definitely a bearish market” said Chakravarty, who is seeking funding …

Financial World’s Blockchain Euphoria Gives Way to Pragmatism as Projects Stall

Two years ago Nasdaq Inc. and Citigroup Inc. announced a new blockchain system they said would make payments of private securities transactions more efficient. Nasdaq Chief Executive Adena Friedman called it “a milestone in the global financial sector.” But the …

Facebook Plans Global Cryptocurrency, Entry into Financial Services

Facebook Inc. announced ambitious plans on Tuesday to launch a new global cryptocurrency called Libra, part of an effort to expand into digital payments that immediately raised privacy concerns. The social networking giant has linked with 28 partners including Mastercard, …

Insurtech Lemonade Raises $300 Million; SoftBank, Allianz, Alphabet Among Investors

Lemonade, the insurance company built around artificial intelligence and behavioral economics, announced the signing of a $300 million Series D funding round led by SoftBank Group with participation from Allianz, General Catalyst, GV (formerly known as Google Ventures), OurCrowd, and …

Credit Karma Enters Auto Insurance Market

Financial technology startup Credit Karma said on Tuesday it is expanding into insurance through a new service that makes it easier for users to find cheaper auto insurance policies. The tool generates suggestions by analyzing government information on drivers and …

Lloyd’s Provides Insurance for Cryptocurrency Storage

Kingdom Trust, a company that stores digital currency for investors, has secured insurance coverage through Lloyd’s of London to protect against theft and destruction of those assets, the company said on Tuesday. The move by Kingdom Trust, which has $12 …

Elites Ponder Applying Market Principles to Harassment, Other Social Problems

The global social media movement known through the Twitter hashtag #MeToo has highlighted sexual misconduct in business, entertainment and politics, and is on the agenda at this year’s Milken Institute Global Conference, which started on Sunday. Beginning with accusations of …

WEF Helps Create Fintech Cyber Security Consortium; Members Include Zurich, Citigroup

The World Economic Forum has led the creation of an industry consortium focused on improving the cyber security of financial technology companies, as collaboration between fintechs and financial institutions grows. The consortium’s founding members include Citigroup Inc, online lender Kabbage, …