Daily Tearsheet: How Stash uses financial education to acquire users, DataDay Awards 2022 winners, and the effects of payments on the environment
- On the Acquire Podcast, we discuss Stash's marketing plans with CMO Dale Sperling.
- Also, the challenges of making payments more attentive and sensitive to their impact on the environment.
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The Acquire Podcast Ep. 13: How Stash uses financial education to acquire cradle to grave users
In episode 13 of Acquire, Tearsheet’s Marketing Podcast, host Rebecca Alma Cohen, Head of Tearsheet Studios, speaks with Stash’s CMO, Dale Sperling, to pick her brain about how, without needing to spend huge budgets, Stash uses creativity, data, and the right partnerships, to develop and strengthen Stash’s brand mission of financial literacy across America – in their Stash101 campaign and beyond.
Stash is a personal finance app that aims to make investing accessible to 99% (of Americans).
The 2022 DataDay Awards winners
As apps and institutions further integrate, data and data sharing have become the building blocks of modern finance. Entire ecosystems are being built around financial institutions and fintechs that incorporate rich and impactful information about their customers.
Tearsheet’s DataDay Awards are the industry’s top awards program, recognizing and celebrating the best data products, services, and brands powering the modern financial system.
We take a look at this year’s winners.
It’s digital, but is it green? The effects of payments on the environment, in 4 charts
Within the lifecycle of a penny or dollar, waste is produced at multiple junctions. Moreover, end-user equipment like ATMs adds to the overall energy consumption. Incinerated waste and electricity produced from non-renewable resources contribute to climate change.
However, over the last decade, card-based payments have taken center stage, and while one may have expected that our old woes of adding to global waste and emissions would have disappeared, they haven’t. These “digitally advanced” methods are only making the planet hotter.
Unfortunately, even if we were to make a radical shift towards greener payment cards or alternative methods like card-not-present payments, we wouldn’t be able to effectively cut down on the financial industry’s impact on Earth. The problem goes even deeper.
Read more (exclusive to Outlier members)
Just look at the charts
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Goldman Sachs revamp faces a pre-recession hit
Dealmaking used to be Goldman Sachs’ bread and butter, but eventually, it could just be the crusts — the firm reported a collapse in deal fees in the second quarter, just like rivals did. Sprightly trading revenue helped cushion the blow, but still, under all that noise, CEO Solomon’s pivot towards more predictable fee-and-interest income has received a helpful pre-recession shove (Reuters)
Citi is eliminating P2P payments fees for the underserved
Citi is now accepting peer-to-peer payments as direct deposits that qualify for checking account monthly service fee waivers — the move is part of the bank’s “ongoing commitment” to further financial inclusion in underserved communities, making it the only FI that ranks among the top four in the U.S. that accepts P2P payments this way (PYMNTS)
Starling pulls back European bank license application
British digital bank Starling is ending its bid to obtain a European banking license, dealing with a significant setback to the company’s international expansion ambitions. It has withdrawn its application for a bank license from the Irish central bank, four years after initiating the process — it will instead focus on selling its software-as-a-service product, aimed at helping banks with their digital transformation strategies, and expanding into new areas of lending (CNBC)
US Treasury is open to nonbanks issuing stablecoins
As Congress considers a path for nonbanks to be allowed to issue stablecoins, Nellie Liang, the U.S. Treasury Department’s undersecretary for domestic finance, says that’s fine with the agencies that once recommended issuers be regulated as banks (CoinDesk)
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