The Week in Review

The Week in Review

Friday April 5, 2019 –

Here are the new and noteworthy stories we have been following this week.

Novo raises $4.8 million seed round to make banking easier and more accessible for small businesses with no-fee, FDIC-insured digital banking

Novo, a new banking fintech catering to startup founders and business owners has raised $4.8 million in seed funding led by Crosslink Capital.

BBVA loan links interest rate to digital milestones

BBVA launches the ‘D-Loan’, that provides borrower companies interest rate reductions as they hit a set of 32 digital targets.

Spare Change Donation App Softgiving Launches Rebates App To Donate With Each Purchase

Softgiving partners with First Data to support consumer micro-donations and is launching the new Donor Rewards app that allows users to donate rewards earned on their card spend.

AmEx Renews Credit-Card Partnership With Delta Through 2029

American Express and Delta renewed their co-brand credit card agreement for an additional 11 years representing a strategic win for Amex, and a financially lucrative one for Delta.

Wells Fargo Adopts Tap-to-Pay Technology for Credit, Debit Cards

Wells is the latest large bank to start rolling out contactless cards starting with credit and then debit later in the summer.

Mastercard to invest EUR50m in African online retailer Jumia

Mastercard is investing EUR50 million in Jumia Technologies through a private placement ahead of its upcoming IPO.

Cambridge Blockchain Receives Investment from PayPal

PayPal has made its first blockchain related investment by joining the Series A funding round of digital identity provider, Cambridge Blockchain.

Max Levchin’s Affirm raises $300 million in latest funding round

Affirm raises $300 million led by Thrive Capital to continue to scale and grow the company.

Banco Santander earmarks EUR20 billion for digital spend

Banco Santander is to invest EUR20 billion on digital technology over the next four years as part of a large-scale digital transformation and efficiency initiative.

Klarna’s push into authentication and identity could be a gamechanger for retailers

Klarna has announced a suite of authentication technologies for e-commerce retailers allowing them to use Klarna as the login provider for their site.

One-third of retail banks planning to build digital brands

According to a survey of global banks conducted by the Economist Intelligence Unit on behalf of Temenos, one third of retail banks are looking to build a digital bank.

Consumer Credit in U.S. Rose by Less Than Forecast in February

Consumer credit growth decelerated modestly in February increasing at a seasonally adjusted annual rate of 4.5% to $4.046 trillion ($15.2 billion increase vs. the $17 billion median estimate).