This week’s banking innovation continued to be dominated by efforts to automate the Payroll Protection Program loan underwriting — before the PPP funds ran out this week, that is. How will banks respond should more loan funds become available?

Meanwhile, Moven, a “Gen 1” fintech startup, gave up on being a challenger bank, handing over its customers to Varo Money, which is an actual bank. We discuss the implications of this turn of events for Moven, an “old school” fintech.

This is the Weekly Wrap for the week of April 13, 2020.