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April 21, 2020
On the web
Betterment adds checking and savings products
TechCrunch
“Betterment , the New York-based automated advisory service for wealth management, is adding FDIC-insured checking and savings account services through partnerships with several banks. “It’s the culmination of something we’ve been working on for a long time.,” says Betterment chief executive and founder, Jon Stein. While the money management services company has long been one of the dominant forces in fintech — alongside its competitor Wealthfront — one key piece of its offering had been missing. That was its ability to operate as a bank and have an even better window into the finances of its customers.”
July 25, 2019
On the web
Betterment Faces Questions From Regulator After Launching Checking and Savings Accounts
CNBC
“Regulators have asked online wealth advisor Betterment to clarify some details surrounding its new checking and savings accounts just hours after they were launched. The digital wealth-management start-up unveiled new accounts that offer as much as a 2.69% annual yield. But Betterment was asked to provide more specifics to one of its regulators almost immediately after it went public Tuesday, according to two people familiar with the conversation. While the content of questions from the Financial Industry Regulatory Authority, or FINRA, is unclear, Betterment had been in contact with the agency, as well as the Securities and Exchange Commission, in the month ahead of Tuesday’s launch, one person said. As of Wednesday, the company had not changed any product details, or how it was labeled.”
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