Daily Tearsheet: SoFi and Galileo CEOs on the Technisys acquisition, why user experience matters in identity proofing, and 2021 BNPL results

  • Inside SoFi's plans to be a leading DTC bank and platform for others.
  • Also, identity proofing and what's going on around BNPL.

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Daily Tearsheet: SoFi and Galileo CEOs on the Technisys acquisition, why user experience matters in identity proofing, and 2021 BNPL results

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Quick Take: SoFi and Galileo CEOs on the Technisys acquisition

SoFi is on a mission to become a well-rounded and fully equipped financial services platform. It wants to enable any firm, ranging from banks to non-banks, to build financial capabilities from scratch and roll out financial products for their customers. 

Along with its Galileo division, SoFi is expanding into white-label products for other businesses.

Galileo will operate as an independent subsidiary to SoFi and keep its current CEO. It remains committed to its evolution of becoming a one-stop-shop financial services platform.

Read more

The Identity Proofing Guide: Why user experience matters in identity proofing

Tearsheet Studios worked with consulting firm Ulysses Partners to create a four-part series on identity proofing and the importance of user experience in its emerging landscape. 

Our guests in this session are David Milligan, managing partner at Ulysses Partners, and Ruby Walia, advisor to fintechs and startups.

This session consists of a fireside chat about identity proofing and why it matters, why we need to think about UX when it comes to identity proofing, and how financial providers can bring this technology to market.

Read/listen more (Sponsored)

The latest briefing

Lending Briefing: 2021 BNPL results, C&I lending picking up again

Buy Now, Pay Later is undoubtedly growing as the preferred e-commerce payment mode, and so is the appetite for more growth from the fintechs in the sector. 

But aggressive growth doesn’t necessarily mean healthy growth, and investors are closely monitoring the underlying performance of these businesses. 

Recent results disclosures revealed potential warning signs for the future, signaling that confidence in the BNPL sector might be dwindling. So what’s been going on?

Read more (exclusive to Outlier members)

Just look at the charts

1. Development of crypto commerce

SourceFlagship Advisory Partners

2. Amazon’s foray into banking and fintech

SourceCB Insights

Today’s stories

Mastercard bolsters BNPL partner network
Mastercard announced a growing list of leading partners, including BNPL specialists and globally recognized brands, further expanding Mastercard Installments (Finextra)

SWIFT, you’ve got competition
Nium, a global leader in the modern money movement, introduced a new brokerage payments solution that offers international FIs a faster and more cost-effective method of settling transactions to select U.S. brokerages enabling customers to easily invest in U.S. equities (PYMNTS)

The “ApeCoin” drop
A hotly anticipated token tied to NFT project Bored Ape Yacht Club has been announced, which will be owned and operated by ApeCoin DAO (CoinDesk)

TAB Bank faces backlash for animal & consumer rights
TAB Bank partnered with EasyPay, which lends to people with low FICO scores who couldn’t get credit elsewhere — the relationship has drawn criticism from advocates for animal and consumer rights (American Banker)

Fintech firing up the worldwide Net-Zero revolution
Regardless of feel-good assurances of an Net-Zero bid by members of the Paris Settlement in 2015, the outlook seven years later for the environment is bleak (LendIt Fintech)

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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