Daily Tearsheet: Say hello to Microsoft’s alternative to Excel, Amount and Stilt on the future of lending as a service, and the SMB Brexit

  • Microsoft is recommending a new alternative to its Excel-centric PFM.
  • As Brex abandons SMBs, lending as a service is filling in the void.

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Daily Tearsheet: Say hello to Microsoft’s alternative to Excel, Amount and Stilt on the future of lending as a service, and the SMB Brexit

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Tiller: the personal finance platform replacing Microsoft’s Money in Excel

Microsoft announced that it’s shutting down its Money in Excel offering by mid-2023. Excel, however, remains a people’s favorite when it comes to managing money. So, it makes sense that Microsoft is merely handing over the baton — to an outside developer on a mission to make spreadsheets fitter for personal and business money management.

Say hello to Tiller, an automated personal finance service built on Microsoft Excel and Google Sheets, which aims to combine the ease of an app with the power of spreadsheets.

Tiller’s product is already in the market and has garnered much popularity. 

Read more

Where Credit’s Due Ep.3: Looking at the future of lending as a service with Amount and Stilt

In the third episode of Where Credit’s Due – Tearsheet’s lending podcast -host Iulia Ciutina speaks with Adam Hughes, who’s the CEO of Amount, and Rohit Mittal, the chief executive of Stilt.

This episode focuses on lending as a service – which is one of the trickiest lines of business in our industry and comes with many complexities and challenges, as well as opportunities.

Listen / read more

The latest briefing

Lending Briefing: The SMB Brexit, and digital lending VC funding

Brex took over the headlines these past few days after its announcement that it will stop serving traditional small businesses, focusing only on tech startups with capital backing. 

This news triggered many conversations and opinions in the industry, giving us all a break from talking about crypto and layoffs – the spotlight is now on corporate expense fintechs, which were industry darlings not too long ago. 

Long story short – the fintech realized SMBs were more complicated than anticipated. Given the recent announcement from Brex to stop serving SMBs, how are its competitors looking to address the market?

Read more (exclusive to Outlier members)

Just look at the charts

1. Klarna valuation history

Source: Florian Graillot

2. Has the bankless society officially begun?

SourceTimo Dreger

Today’s stories

Citi makes a move in a push against overdraft fees
Citi has removed overdraft, overdraft protection transfer, and returned item fees from Citi Retail Banking consumer deposit accounts, with the changes have gone into effect the past Sunday (PYMNTS)

The Canadian Purpose Bitcoin ETF has lost half of its assets
The world’s largest Bitcoin spot exchange-traded fund, the Purpose Bitcoin ETF, lost half of its assets likely because of a huge liquidation last Friday, which might have exacerbated Bitcoin’s drop to $17,600 this weekend (CoinDesk)

China’s digital yuan notches $13.8 billion in transactions
China’s digital yuan wallet has been downloaded by 261 million people – about a fifth of the country’s population – and has been used for transactions worth 87.5 billion yuan ($13.8 billion) (Finextra)

Indagare offers luxury travel experiences to Bank of America clients
BofA is offering an exclusive travel experience for ultra-high-net-worth clients through an arrangement with boutique travel company Indagare — the loyalty program offering is connected with BofA’s Preferred Rewards Program, which in total has about 10 million members (PYMNTS)

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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