Issue #311 - Why Do Consumers Love Fintechs?

Fintech News Issue #311

2021-04-16

Why Do Consumers Love Fintechs?
Why Do Consumers Love Fintechs?
via The Financial Brand

Many consumers are facing financial stress as government relief programs are ending. This has opened the door for fintechs like Chime, SoFi, Credit Karma and others that combine the best of digital functionality with solutions that improve financial wellness on a personalized basis. How should traditional banks and credit unions respond to consumers in need?

Embedded Fintech Versus Embedded Finance: Jumpstarting New Product Innovation In Banks
Embedded Fintech Versus Embedded Finance: Jumpstarting New Product Innovation In Banks
via Forbes

Banks can protect and grow their core products—e.g., payments and loans—by finding new distribution opportunities through embedded finance. That might prove a difficult road, however, for mid-size financial institutions that find themselves shut out of those deals by retail platforms that partner exclusively with large banks.

Where will FinTech focus next and what problems remain to be solved?
Where will FinTech focus next and what problems remain to be solved?
via Financial Executives

Since March 2020, you’ve probably read countless articles hyping the acceleration of e-commerce, the digitalization of financial services, and other clichéd FinTech predictions.

Retail Banking’s “Blockbuster” Moment?
Retail Banking’s “Blockbuster” Moment?
via Starpoint LLP

Sandy Weill’s financial supermarket vision is coming to an inglorious end…. The Blockbusters of Banking…

Fintech apps outperform banks as pandemic shakes consumer finances
Fintech apps outperform banks as pandemic shakes consumer finances
via FinExtra

Finance app downloads spiked by 15% during the pandemic, with mobile fintech applications outperforming banks by a factor of up to 10.8x, according to figures from mobile anlaytics platform App Annie.

Fintech leader, One Finance CEO says overhaul of digital finance in banking 'coming fast'
Fintech leader, One Finance CEO says overhaul of digital finance in banking 'coming fast'
via Fox Business

Brian Hamilton says, 'You're going to see a lot more disruption in the space very soon'

6 Fintechs Make Top 20 US Valuation Leaderboard; Worth a Combined US$145B
6 Fintechs Make Top 20 US Valuation Leaderboard; Worth a Combined US$145B
via Fintech Switzerland

The past two years have seen the valuations of the US’s most valuable venture (VC)-backed fintech companies soar. As of March 19, 2021, six fintechs were amongst the country’s top 20 most valuable VC-backed companies, and worth a combined US$145.1 billion, up 68% from their worth in 2020 of US$86 billion, data from PitchBook show.

Taking UK fintech to the next level
Taking UK fintech to the next level
via New Statesman

The UK remains a hotbed for financial talent, technology, growth and investment, says Charlotte Crosswell, CEO of Innovate Finance.

The Future of Customer Experience in Banking is Personalized
The Future of Customer Experience in Banking is Personalized
via The Financial Brand

Financial institutions must combine data, analytics, technology, and marketing automation to deliver a personalized experience that is customer-centric. Engagement must be based on real-time changes in consumer behavior, avoiding traditional product sales pitches but providing proactive recommendations that are fast and easy to deploy and respond to.

Latin America’s Fintech Boom
Latin America’s Fintech Boom
via Andreessen Horowitz

The Brazilian fintech company Nubank is now the largest neobank in the world, with 33 million customers and a $25 billion valuation. That valuation is already half that of Itau’s market cap, the largest public bank in Brazil, which has been around for more than 75 years.

Fintech apps that strive for good
Fintech apps that strive for good
via Investment News

Fintech platforms are helping to ensure customers not only understand what diversification means, but also how it can help them build a more balanced portfolio.

Episode 385: Will the Real Challengers Please Stand Up?
Episode 385: Will the Real Challengers Please Stand Up?
via Provoke

In this episode of Breaking Banks, Brett King is joined by Dr. Leda Glyptis, Chief Client Officer for 10x Future Technologies in the co-host chair and special guests Ryan Halstead, Vice President Sales North America for Jumio and Vincent Bezemer, Head of Strategy North American with Backbase. In the first half of the show, we explore the shift in consumer digital banking expectations and highlight why challengers are able to scale more quickly than traditional financial institutions. Then, tune in for the second half to learn about the rise of the buy now / pay later economy and frictionless credit.

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