TrueLayer, a British banking startup, has long-term goal of eliminating the need for credit cards.
Square Financial Services is designed to act as the originator of small business loans to retailers that already use the company’s technology to process card sales. Square already has a well-developed network of small businesses operating on its payment processing platform, and the management’s decision to focus on servicing those clients came as no surprise.
Root Insurance recently announced it’s ambitious plan to eliminate the use of credit scoring as a factor in its car insurance pricing model.
Business checking accounts with a 1.10% APY will soon be available from Kabbage.
Google is partnering with Citigroup to launch a personal checking account service.
Banks are adding a wide array of services in the face of competition from financial startups.
