FintechNews

Fintech Platform Dave Shifts Banking Partnership to Coastal from Evolve

3 months ago

In a significant move that underscores the dynamic nature of the fintech landscape, the popular personal finance app, Dave, has announced a strategic transition in its banking partnership. The company will be shifting from its long-standing relationship with Evolve Bank & Trust to Coastal Community Bank, marking a new chapter in its service offerings.

Mass Layoffs Loom at Fintech Lender Stenn Following Collapse

5 months ago

In a shocking turn of events, Stenn, the recently collapsed fintech lender, has confirmed that a majority of its employees will be terminated as the company wraps up its operations. This news comes after Stenn encountered significant financial difficulties, leading to its abrupt downfall amidst shifts in the financial technology landscape.

Klarna Strikes Major Deal with Elliott, Offloading $30 Billion Portfolio

7 months ago

In a significant shift for the fintech landscape, Swedish payments firm Klarna has announced a landmark agreement with the investment firm Elliott Management Corporation. This move sees Klarna divesting a staggering $30 billion portfolio of loans, which includes a substantial share of its buy now, pay later (BNPL) offerings. This decision is part of Klarna’s broader strategy to streamline its operations and enhance its balance sheet in an increasingly challenging economic environment.