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After the early exuberance surrounding Apple Watch, banks and vendors are ramping up testing of bank apps on other wearable devices and everyday objects, preparing for a day in which most everything is connected to the Internet.
May 5 -
Citigroup and other banks are increasingly looking to startups to help them compete in a world in which Google, Apple and other tech firms are rapidly becoming potential threats.
April 30
The financial-technology explosion, or bubble, depending on one's viewpoint, continues.
NerdWallet, a startup Web company that provides consumer advice on a variety of financial services, from banking to credit cards to health care to mortgages, has raised $64 million in an initial funding round.
It also has backing in the form of a $33 million loan facility from Silicon Valley Bank in Santa Clara, Calif., which specializes in international tech investment.
The site essentially functions as a searchable marketplace and listing for various financial services and advisers, similar in user experience to a travel site that aggregates various airline and hotel prices.
NerdWallet makes money through advertising sponsorships from American Express, Bank of America, Barclaycard, Capital One Financial, JPMorgan Chase, Citigroup, Discover Financial Services, and U.S. Bancorp, along with other nonbank financial services companies.
The company also announced two new board members, Bay Area venture capitalists Jules Maltz and Tom Loverro, to a board that already includes a former Citigroup chief executive, Vikram Pandit; former American Express CEO James Robinson III; and former Yahoo executive David Henke.
