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Daily Tearsheet: A day in the life of MX’s VP of product, and is the ‘Apple Pay Later’ hype warranted?

  • It's always interesting hearing about how professionals spend their time and what propels them to the top of their games.
  • Also, our new Banking on the Planet Conference and an Outlier Briefing that looks at Apple's new BNPL product.
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Daily Tearsheet: A day in the life of MX’s VP of product, and is the ‘Apple Pay Later’ hype warranted?

Tearsheet provides daily summaries of the top news stories and events, like this piece, in a nifty, neat, nicely-packaged daily email. Stay informed. Subscribe here.

‘I actually have three notebooks in front of me’: A day in the life of Crystal Anderson, vp of product at MX

MX is a Utah-based financial data platform. As VP of product, Crystal Anderson’s role involves all things product, from organization to management, to design. 

Anderson has been with MX for about a year now and has been in the financial industry for over twenty years, with almost all of that time spent in product management or product development.

But it’s not finance that kicked off Anderson’s passion for product, but rather a hunting and fishing TV show, where she was working as an editor at the time. 

As one of the central figures in all things product at MX, Crystal Anderson is no stranger to a busy schedule. But her passion for writing and her love of sports help keep her day centered. Here’s how. 

Read more

Introducing Tearsheet’s inaugural Banking on the Planet Conference

Where banks lend, money matters. So do the consequences of those lending models. The rising sentiment in the global conversation is that banks must assume accountability for the financial industry’s impact on the environment.

How do we move from greenwashing to making a difference?

Tearsheet’s inaugural Banking on the Planet Conference brings together leaders from the banks that set out to make a difference, and the fintechs and technology providers enabling those promises.

Join us virtually at the Banking on the Planet Conference 2022 on July 26th for a day of critical dialogue on the responsibility bestowed upon the financial industry, and the players rising to the challenge.

Get your ticket

The latest briefing

Payments Briefing: Is the ‘Apple Pay Later’ hype warranted?

At this year’s Worldwide Developers Conference, Apple announced a major update called Apple Pay Later, scheduled for launch with iOS 16 this September, which will allow US users to split up their Apple Pay purchases into four equal installments spread over six weeks, without interest or late fees.

Apple Pay Later runs on the Mastercard network, and can be used anywhere Apple Pay is accepted online or in-app. However, the service will not be available for point-of-sale transactions.

The news comes at an uncertain time for the BNPL industry, owing to slow economic growth, rising inflation, and higher interest rates. The Apple Pay Later news has attracted a lot of hype in the media and across the tech world but how much of it is justified?

Read more (exclusive to Outlier members)

Just look at the charts

1. The rise of open banking

Source: Mastercard

2. Worldwide crypto owners by country

SourceSanjeev Kumar

Today’s stories

Mastercard has released an album featuring its ‘sonic brand’
Mastercard has dropped an album available on Spotify — the Priceless album — featuring 10 original songs from 10 emerging artists from around the world, each incorporating the melody of Mastercard’s “sonic brand sound” (Finextra)

Citi partners with Metaco for digital asset custody
Citibank has selected Swiss cryptocurrency custody firm Metaco to develop the bank’s digital assets safekeeping capabilities — Citi, which holds about $27 trillion assets under custody, intends to fully integrate Metaco’s “Harmonize” crypto custody platform (CoinDesk)

Shopify eyes the untapped market of B2B sales
Shopify is setting its sights on a “huge untapped market” for business-to-business commerce, as it introduces new tools in an attempt to fend off competition from Amazon and revive its fortunes after a bruising stock sell-off — the push would unlock opportunities “multiple times” bigger than its existing model (FT)

Truist unveils banking tech center in Charlotte
Truist Bank is looking to fuse tech and finance with a new 100,000-square-foot banking Innovation and Technology Center that debuted Tuesday at its headquarters in uptown Charlotte — the two-football-field sized facility will serve as a research lab and collaboration hub for engineers, designers, and customers to “build a better banking experience” (The Charlotte Observer)

JPMorgan reduces headcount in mortgage unit due to rising inflation
JPMorgan has started laying off employees in its mortgage business, as elevated inflation and rising mortgage rates slow the housing boom in the US — more than 1,000 employees will be affected and about half of them will be moved to different divisions within the bank (Reuters)

Stay ahead of the game with Outlier — Tearsheet’s exclusive members-only content program and join the leading financial services and fintech innovators reading us every day.

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