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SoFi To Buy Galileo Financial Technologies In $1.2B Deal

PYMNTS

In a deal valued at over a $1 billion, SoFi said it has inked a definitive deal to buy Galileo Financial Technologies. Galileo CEO Clay Wilkes said in the announcement, “SoFi has built a very strong diversified financial services company focusing on a full suite of financial services. I think it’s very powerful.”.

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OCC’s New Office of Financial Technology Portends Increased Supervisory Activity

CFPB Monitor

The OCC’s announcement that it will establish an Office of Financial Technology to “bolster the agency’s expertise and ability to adapt to a rapidly changing banking landscape” should come as no surprise to those who have been following recent pronouncements of Acting Comptroller Michael J.

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Fintechs seek US government funds to help make business loans

Bank Innovation

Financial-technology firms including PayPal Holdings Inc. Industry group Financial Innovation Now urged Congress in a letter to provide capital to online lenders including PayPal and Square Inc., government funding. and to permit the firms to […].

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Why Not All FinTech Providers Are FinTech Firms

PYMNTS

Such is the case in financial services, where “ FinTech ” is often used to describe financial technology vendors. “A A firm that offers financial technology is not necessarily a FinTech,” said Provenir Managing Director Paul Thomas, who thinks the distinction between the two needs to be clearer.

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Independent Panel To Review UK’s FinTech Sector 

PYMNTS

A panel established to grow the United Kingdom’s (UK) financial technology (FinTech) sector plans a review of the industry to identify opportunities for growth, the government announced Tuesday (July 21). Much is at stake when it comes to the country’s FinTech businesses.

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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

When deciding whether to use a BNPL service for a purchase, it is essential to read the fine print. Here are critical facts to know about some of the most popular BNPL service platforms: Afterpay: Afterpay was founded in Australia in 2014 but was acquired by fintech Square earlier this year.

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Middlegame Launches €150m FinTech Fund

PYMNTS

MiddleGame Ventures has launched a new €150MM fund targeting FinTech investments in Europe and North America. MGV’s Venture Fund I has already made three representative investments in financial technology startups in the UK: Nivaura, Railsbank and Gardenia Technologies.

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