Magazine : Archives : 2nd Quarter 2021
The Latest, Oldest Thing in Banking
New technology is revolutionizing the industry. But now, tech companies are going after the oldest thing in banking: a charter. Financial technology firms, born from dislocation during the Great Recession and built with a digital-first approach to banking and money, are on a mission to disrupt — and improve — the bank space. A select few fintechs have decided to make a go of it by acquiring or applying for a bank charter, with some success. Startups such as digital-only banking company Varo Money have joined New York Stock Exchange-traded company Square to win approval from banking regulators in their...
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