Tagged: digit

CFPB Targets Hello Digital that Allegedly Used a Faulty Algorithm that Depleted Checking Accounts

The Consumer Financial Protection Bureau (CFPB) has announced an enforcement action against Hello Digit (or just Digit), a neobank that claims to be the “first truly personalized and automated savings tool.” At the end of 2021, Hello Digit was acquired by Opportun. According to the… Read More

Oportun Completes Acquisition of Neobank Platform Digit

Announced last month, Oportun (Nasdaq: OPRT) reports that it has completed the acquisition of neobank platform Digit. Digit will operate as a business unit within Oportun and continue to be led by Digit founder and CEO, Ethan Bloch. All of Digit’s 100+ employees are said… Read More

Oportun, Digit Celebrate $213 Million Acquisition

Oportun a consumer credit Fintech, today announced that it has agreed to acquire neobank Digit, a platform that provides automated savings, investing, and banking tools. By adding Digit Oportun will further expand its A.I. and digital capabilities. “This is a transformational deal that will expand… Read More

Financial Management App Provider Digit Adds Automated Investing Tool

San Francisco-based Digit, a financial management and savings company, recently added an automated investing tool to its app. Digit describes itself as a financial wellness expert that has assisted its customers with automatically saving around $5 billion and paying down more than $150 million in… Read More

New Consumer Financial Data Rights Group Submits Comments to CFPB: Advocates for Consumer’s Rights to Financial Data

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Consumer Financial Data Rights Group (CFDR), a new organization that was created to defend consumers’ access to their data and fuels innovation in the fintech industry, announced on Tuesday it has submitted a response to the Consumer Financial Protection Bureau’s (CFPB) request for information (RFI) in regards… Read More

Consumer Financial Data Rights Group Formed by Fintech Companies including Kabbage, Affirm & More

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 A group of fintech companies announced on Thursday they have come together to create the Consumer Financial Data Rights (CFDR) group. This organization will notably defend consumers’ access to their data and fuels innovation in the fintech industry. Founders of the CFDR group includes leaders from Affirm, Betterment,… Read More

Financial Solutions Lab Wants to Fund the Future of Finance

Financial Solutions Lab is a five-year program aimed at harnessing and developing top FinTech companies to create products that tackle Americans’ most pressing financial issues. In July, the lab chose 9 startups to join year one of its five-year program. Each of the companies received $250,000 in… Read More

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