Fintech

Deserve wants to deliver credit cards to students and underbanked young adults through a system that underwrites credit without relying on FICO scores and instead by judging the applicants on their future potential.

Deserve is offering unsecured cards to young adults who do not have traditional credit scores. The Silicon Valley startup uses a proprietary algorithm that analyzes bank account activity to evaluate the likelihood that borrowers will repay.

It is often difficult to imagine how something will disrupt an industry because it may seem that the industry is already functioning with no problems. But there are inefficiencies that may not be apparent, writes Mariam Nishanian, a representative for Dentacoin.

The U.S. and Canada are far behind Europe and Asia in contactless adoption in general. A handful of mass transit agencies are stirring hopes about NFC fare payments, but even these cities are taking a cautious approach to open-loop payments.

For the second time in less than a week, First Data has found an already speeding car to hop on board in the company's strategy to cover as many digital commerce bases as quickly as possible.

Steve Wozniak indicated that he'd like to see the Silicon Valley behemoth continue to partner with banks, rather than applying for its own charter.

Increased investor appetite and the emergence of specialized debt ratings are expected to spur demand, and community banks are looking for ways to fund expansion and hedge against future economic downturns.

TransferWise Ltd., the London-based international money transfer service that is considered one of Europe’s more promising financial technology startups, is lowering the fees it charges to send money from the U.K., the company said Monday.

Business payments are notoriously resistant to automation and innovation, though there are some signs of digital processing showing up in the education and science market.

Any bank using IBM for managing transactions and funneling payment processing onto a single platform will now have access and support for the Zelle person-to-person payment service.