Most Active Financial Stocks: PayPal Holdings, Inc. (NASDAQ:PYPL), JPMorgan Chase & Co. (NYSE:JPM)
PayPal Holdings, Inc. (NASDAQ:PYPL) shown itself as moving stock, reduced -0.18% to close at $73.89. The savings deposit marketplace that lets you shop for a better interest rate across Europe, Raisin has picked up backing from PayPal. Described as a “strategic investment,” the new funding round remains undisclosed.
The Berlin-based firm had previously lifted a total of €60M from various backers, including Thrive Capital, Ribbit Capital, and Index Ventures. Meanwhile, I’m told the new investment will be used by Raisin to accelerate growth in its core European geographies.
Also it wouldn’t be surprised to see PayPal push Raisin to its users, as another channel for the startup to reach savers. Like other fintechs, half of Raisin’s battle is likely educating consumers that such as proposition exists. To that end, the company has already partnered with N26 to be listed in the challenger bank’s own app, and white labels its offering for others.
The Raisin marketplace lets you shop around and compare different rates European-wide. However, the key difference to a comparison site is that, via its own bank partner, the company offers consumers a single interface that includes account opening and anti-money laundering checks, making it easy to switch and continually ensure you get a competitive interest rate.
Related to this, for the banks that integrate with the Raisin marketplace, especially smaller and midsize banks, they get exposure to consumers across Europe that might otherwise never be reached. It also gives them potential access to many more deposits, which helps with their own balance sheet lending and scale. Currently, 40 banks offer savings accounts through Raisin, ranging from overnight flexible savings to long-term deposits. Its total outstanding shares are 1204.02 million shares and a floated share was 1140.02 million.
JPMorgan Chase & Co. (NYSE:JPM) stock closed at $107.45 in last session with the total traded volume of 14.57 Million. JPMorgan Chase & Co (JPM) is powering up a lower-cost computerized investment management tool this week and plans to offer the robo-adviser to some clients next March and on a wide scale in the middle of the year.
The firm will file needed disclosures on Wednesday with the U.S. Securities and Exchange Commission, bank officials told Reuters, so they could start testing the service this week with fewer than 100 employee accounts. The goal is to offer “guidance and advice for a broad range of clients, whether you have a few thousand dollars, or more,” said Kelli Keough, head of digital wealth management.
The service, piloted as JPMorgan Digital Investing, is the latest in a raft of online investing tools called robo-advisers that firms offer as a low-cost way to get basic advice and automated portfolio management. The services ask such questions as consumer age, risk appetite and objectives, then suggest investments like diversified exchange-traded funds, which often are selected by an investment committee. Computers rebalance portfolios according to preset rules.
The robo-advisers are viewed as a low-cost way to attract individuals who do not yet have enough money to make individual personal management worthwhile. Consulting firms estimate the services could be managing more than $10 trillion within several years. Financial companies including Morgan Stanley (MS), Wells Fargo (WFC) and Bank of America’s (BAC) Merrill Lynch, have followed fintech firms, such as Betterment, with the offerings.
As taking short look on the firm profit margin was recorded 40.00%, and operating margin was recorded 70.90%. The Financial Institutional ownership of the firm was 76.10% while by insiders was -0.87%.