#Roboadvisor #Betterment is not interested in having its own national #bank #charter, Bank Innovation has learned. Last week, alongside the endorsement of the US Treasury, the OCC was finally opened the application process for fintechs seeking a special national banking charter. The one major stipulation from the Treasury was that the charter only be open […]
Bank Innovation
EXCLUSIVE – Roboadvisors are common knowledge in the #financial world nowadays. But eight years ago, that wasn’t the case. Just ask Jon #Stein, founder and CEO of the first roboadvisor, #Betterment. A graduate from Harvard University and Columbia Business School, Stein came up with the idea of automated investing on a digital platform as a freshman […]
Bank Innovation
EXCLUSIVE—Roboadvisor investment firm #Betterment experienced service interruptions yesterday when customers flocked to its #site and app after the Dow fell more than 1,500 points. The firm has attributed these interruptions to “particularly #high volume,” according to a statement the company sent Bank Innovation. Betterment said in the emailed statement: Due to particularly high volume, clients […]
Bank Innovation
EXCLUSIVE—#Users of roboadvisor investment service #Betterment who hoped to minimize the damage of the DOW’s crash—1,500 points as of last count—are finding themselves unable to access their portfolios or even make it to the website. The DOW’s present tumble led many to check on their investments and stocks, but Betterment customers trying to do so […]
Bank Innovation
Six years ago roboadvising was the domain of just a few startups, but today the space is getting increasingly crowded. #Betterment saw that coming since Day One (exactly six years ago), according to CEO Jon Stein. “But that’s a good thing for us, because every time one of these incumbentsRead More
Bank Innovation
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