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Daily Tearsheet: How Amex uses Kabbage to help SMBs with cash flow, and why regulators are cracking down on bank-fintech partnerships

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Daily Tearsheet: How Amex uses Kabbage to help SMBs with cash flow, and why regulators are cracking down on bank-fintech partnerships

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How Amex uses Kabbage as ‘the heartbeat’ of its strategy to help SMBs with cash flow

In this episode of the Tearsheet Podcast, CMO Kabbage from American Express, Brett Sussman joins host Zack Miller, Tearsheet’s editor-in-chief. 

American Express’ Kabbage is growing and evolving. As a standalone company, we’ve known Kabbage as a small business lender, and post-acquisition, as part of Amex’s strategy, it’s expanding its lending capabilities into becoming a cash flow home base for the firm’s SMB clients.

Sussman talks about the opportunities and challenges SMBs face, and how Amex and Kabbage are working to support them. He discusses the evolution of Kabbage as a product, and Amex in general as it expands to meet the needs of small businesses. He also talks about Amex’s two-pronged strategy to grow Kabbage.

Listen / read more

Why are regulators cracking down on bank-fintech partnerships?

Across the board, federal banking agencies seem to be preparing to clamp down on market activities by enforcing regulations in the finance industry. Just recently, CEOs of the largest banks in America were summoned to Capitol Hill, and probed on all manner of issues ranging from the war in Ukraine to their role in slavery.

Perhaps it’s a political tactic to appear busy due to the upcoming elections. Or a more cosmic shift is at play, with the new moon in Libra suggesting new legal developments are in order. Not fans of speculation, Tearsheet deferred to Brian Graham, partner at Klaros Group, to help us make sense of what is happening.

Read more (exclusive to Outlier members)

Just look at the charts

1. BaaS could hit mainstream adoption within 2 years

SourceDavid Jimenez Maireles

2.  Key differences between traditional apps and super apps

Source: Nicolas Pinto

Today’s stories

Buffett-backed Nubank hits 70 million clients
Brazil’s Nubank has reached 70 million clients across its three operating countries. The digital bank, backed by investors including Warren Buffett’s Berkshire Hathaway and Softbank Group, had 66.4 million customers in Brazil, its main market, up from 62.3 million at the end of June. (Reuters)

How a ‘payday loan’ alternative made a small bank famous
OneUnited Bank — the largest Black-owned bank in the US — created a small-dollar loan option for Covid-impacted customers, which led to the bank starring in the first segment of a new docuseries aired on CNBC. (The Financial Brand)

PNC acquires Linga to expand its digital resources
The PNC Financial Services Group has acquired Linga, a point-of-sale and payments solutions firm providing a cloud-based restaurant operating system. The acquisition will expand PNC’s digital resources and enhance the bank’s capabilities to serve its hospitality and restaurant industry clients. (Finextra)

Why two Goldman Sachs employees decided now’s the time to leave for fintech
Is this the right moment to leave your Goldman Sachs job to work in the fintech industry? That clearly depends partly on the job you’re doing at Goldman and the sort of fintech you’re joining, but at least two people have recently made the jump. Brian Steele and Cyrus Mahler are the latest to announce their fintech move. (eFinancialCareers)


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