Plaid Launches New Tool To Streamline Income Verification
Plaid, the financial technology upstart, is debuting Plaid Income, which is meant to simplify the income verification process. For instance, the product would make it easier for consumers to receive loans or rent apartments. The firm noted that income and employment verification is essential to processing loan applications, although it is generally a burdensome process that takes a lot of time. However, the new Plaid Income offering provides one simplified method for income verification that seeks to alleviate friction for lenders and those seeking loans.
Revolut Expands Its Digital-Only Banking To 10 More European Countries
Revolut Bank said it has launched services to 10 additional European nations. The company, which is based in the United Kingdom, said clients in those nations can now benefit from its “European specialised banking license” that comes with “a deposit-guarantee scheme,” according to a press release. Slovenia, Slovakia, Romania, Malta, Latvia, Greece, Estonia, Cyprus, Croatia and Bulgaria are the financial technology firm’s 10 new European markets. The news comes as Revolut rolled out in Lithuania and Poland in 2020.
Home Insurance Firm Hippo Plans To Merge With SPAC To Go Public
Hippo Enterprises Inc., the home insurance group, intends to go public by combining with Reinvent Technology Partners Z, a special purpose acquisition company (SPAC). “Through this strategic partnership with Reinvent and an incredible team of world-class entrepreneurs, investors, and employees, we can’t wait to transform the homeowner experience and accelerate our growth,” Hippo CEO and Co-Founder Assaf Wand said in an announcement. The board of directors of Reinvent and Hippo have unanimously given the go-ahead for the deal.
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