How Stripe built a Powerhouse Payment Platform Online and Now Going Offline

I remember many years ago talking with one of the early investors in Stripe.  He told me that Stripe built a PSP/PF platform and their target market was Developers.  My initial reaction was, “another gateway”, as there were already so many on the market.  Companies were already building on top of Vantiv and Wells Fargo.  In retrospect, I was so wrong. However, Stripe did something remarkably different.  By targeting Developers, they realized that Developers were the decision makers most of the time when a business owner asks them to “setup payment processing for me”.  With Stripe, developers were now able Read more…

7 Things to Consider Before Launching a Fintech Startup

Fintech is here to stay. Fintech is all about solving pain points we all experience. It’s making an impact in all avenues in our life.  Fintech is not reinventing the wheel, but in fact, improving the Customer Experience as a whole.  It’s improving our spending habits, providing choice, faster access to capital, access to better services. For example, getting a loan is a standard process.  You go to the bank, fill out some forms, and the loan officer will get back to you in a few days to determine if you qualify.  Fintech’s have improve the collection and validation process, now with Read more…

The Fintech Banks Are Coming: Why You Should Care

Reposted from: https://www.forbes.com/sites/donnafuscaldo/2018/09/13/the-fintech-banks-are-coming-why-you-should-care/ The fintech banks are coming. With regulators accepting applications from financial technology startups for national bank charters, traditional banks are going to see a lot more competition. Potentially bad news for them. But for consumers, it could be a win if it results in better service and lower costs. The influx of bank fintechs is already happening, with fintech banks Simple, Chime, Varo and Moven offering checking accounts, overdraft protection, savings accounts, and direct deposit. Bigger name financial technology companies including Social Finance, Wealthfront, and PayPal are gauging interest in entering the fray. SoFi, Stash Getting Bank Accounts Ready Read more…

Why FinTech Startups Need to Make Compliance a Priority

There’s no denying it, FinTech is hot!  It seems everyone is trying to build the next FinTech solution whether they’re focused on P2P Lending, Processing, Cyber Security, Block Chain, Bitcoin, Payments or any number of other pain points that are ripe for disruption. Companies tend to forget that Financial Technology is made up of two distinct words. Many times, you will see amazing startup ideas who end up focusing on the Technology side by creating amazing UI/UX and pay little attention to what I consider the most important aspect of the Financial side: Compliance.  This is a risky approach, from Read more…

How Criminals Have Shaped the Online Financial World As We Know It

For as long as we have had finance, we have had financial crime. In today’s internet age, thieves can rob consumers and organizations from anywhere in the world. As security has grown more advanced, criminals have become more sophisticated in response. This constant push and pull as both sides have tried to always stay one step ahead of the other has been one of the primary forces in the development of e-commerce over the last two decades. In fact it could be said that, both directly and indirectly, criminals have played a major role in shaping the online financial world Read more…