Dive Brief: Walmart is creating a fintech startup in partnership with venture capital firm Ribbit Capital, the retailer announced Monday. The new venture will "develop and offer modern, innovative and affordable financial solutions" to customers and employees, Walmart said. "For years, millions of customers have put their trust in Walmart to not only save them money when they shop with us but help them manage their financial needs," John Furner, president and CEO of Walmart U.S. said in a statement. Dive Insight: The details of Walmart's new fintech startup are scarce. The Bentonville, Arkansas-based company did not disclose the name of the new entity, specific services or a launch date.