Remove 2009 Remove enablement Remove incumbents
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Sila banks $13M to offer single API for developing financial products, services

TechCrunch

CEO Karkal has a long history in the fintech space, co-founding Simple, an app unifying various accounts into one accessible bank card, in 2009. Its banking APIs enable developers to create their own digital wallets, replacing the need to integrate with legacy financial institutions.

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Headless CMS platform Kontent secures new capital to grow its customer base

TechCrunch

On the developer side, customers can integrate Kontent with other apps and technologies through APIs and “flexible content models,” enabling control over the structure of content and how it’s delivered to websites and apps. The incumbent solutions were designed for on-premise, monolithic architecture.

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Disrupting Finance From Above: Wealthfront

abovethecrowd.com

First, they believe that the current offerings from the financial incumbents are lacking. This supposedly “electronic” network enables people to transfer funds from one bank account to another. In July of 2009, the UK instituted a new network known as Faster Payment Service with same day settlement to replace their equivalent of ACH.

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History of The MP3

Unvalidated Learnings

Not only did the incumbents fail to grasp the potential value, but it would have made no sense for them to go after such a small unprofitable niche, which would have been irrelevant to their top line, and eating away at their bottom line (CDs were 90%+ gross margin products back then). most of the value created would accrue to new entrants.

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Brex: The Future of Business Banking and Cash Management

Y Combinator

Even with $125K from YC and $1–2M in venture funding, a startup’s credit limit is still likely to tap out at $20K from an incumbent creditor—which is not nearly enough to cover software, marketing, and other expenses. Stripe’s launch in 2009 made it possible for startups to easily collect payments online via developer-friendly APIs.

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“Customer First” Healthcare

abovethecrowd.com

In 2015, 46 percent of workers were enrolled in a plan with an annual deductible of $1,000 or more, up from 38 percent in 2013 and 22 percent in 2009. Here are a list of the new forces pushing the U.S. As such, the ACA has been a key driver for the continued rise of high-deductible plans.

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Extend raises $40M for its virtual card offering to help banks better compete with fintechs

TechCrunch

But it feels like we have written far less about fintechs that exist solely to help the incumbents better compete with fintechs. in 2009 to help the credit card giant incorporate new digital payment capabilities, one of which included virtual cards. . “I We help the incumbents close the gap relative to those players.”.