This week in fintech: how AI will help max out your returns, a $500 million funding round, and the growing need for new solutions in compliance.
AI can make your money work for you (TechCrunch)
AI is still in its early stages, but soon it will serve more specialized functions. For investors, that means maxing out your returns by keeping your money in balance between checking, savings, and investments. Here’s how AI will help you max out your investment returns.
SoFi Looks to Raise $500 Million in Latest Test for Fintech (Wall Street Journal)
SoFi is one of the largest privately held fintechs, is looking to close one of the largest fintech funding rounds of the year, marking a new test for the growing online-lending industry. As the company expands beyond HENRYs into students with good-but-not-great credit scores, it faces tougher competition from incumbent lenders.
You’ve Heard of Fintech, Get Ready for ‘Regtech’ (American Banker)
Back-office innovation is taking off as the less-flashy but more-lucrative version of consumer fintech. Compliance is one of the costliest bottlenecks, slowing down new initiatives and leaving them months behind their startup competitors. Now, a new flurry of “regtech” startups are improving banks’ internal processes, allowing them to keep pace with their more agile competitors.