Daily Tearsheet: Stash’s evolving brand identity, SoFi amps up Galileo with Technisys acquisition, and connecting the dots on Envestnet’s rebrand
- On Tearsheet today, Envestnet undergoes a rebrand -- the firm's CMO discusses how the firm's client personas impacted the new brand.
- Also, SoFi is making moves with another big acquisition after Galileo and Stash's brand principles.
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How Stash uses clarity, consistence, and cohesion to bolster its brand identity
Covid led to a boom in investing, according to a recent CNBC|Momentive Poll. 26% of the general public started investing in 2020. 60% of 18 to 34 year olds said they started investing in 2020 or later.
Consumers’ increased interest in investing has meant some nice upticks for a lot of investing apps. Stash, for example, saw a lot of growth over the course of the pandemic. The company went from 4.5 million customers in June 2020 to over 6 million customers today.
Stash started out as a pretty straightforward investing app with a clear investing product. But as it gained more users, it began to expand its product, covering both investing and banking. The company now has not only automated investing tools, but also banking products
That meant a challenge for explaining itself to new users — here’s how the firm handles communicating what it is and what it does…
The Acquire Podcast Ep. 1: Connecting the dots on Envestnet’s rebrand
This is our very first episode of the Acquire Podcast, Tearsheet’s marketing podcast, hosted by Rebecca Cohen, head of Tearsheet Studios.
The Acquire Podcast is all about exploring marketing campaigns for new brands, products and services in the financial industry.
On today’s episode, we spoke to Mary Ellen Dugan, chief marketing officer at Envestnet. Mary Ellen has been running the marketing show at various tech companies throughout her career, and has been serving as CMO at Envestnet for just about a year.
She’s here to talk about Envestnet’s recent major campaign, and company rebrand at large, “Fully Vested”.
The latest briefing
Embedded Briefing: SoFi amps up Galileo with Technisys acquisition
SoFi, which acquired API and payments platform Galileo in 2020, has now completed the acquisition of Buenos Aires-headquartered Technisys — a digital banking technology provider that enables traditional banks to go digital, and neo-banks to build from scratch.
The acquisition serves SoFi’s greater vision of becoming the ‘AWS of fintech’. The vision manifests in its banking as a service division Galileo becoming able to provide everything a company would need to get the ball rolling on launching a financial product.
Upon closure of the deal, SoFi will combine Galileo’s and Technisys’ technology stacks.
Read more (exclusive to Outlier members)
Just look at the charts
1. AI in banking: Can banks meet the challenge?
Source: Timo Dreger
2. Klarna’s underwriting losses
Source: Lex Sokolin
Papa John’s plans NFT drop
Pizza chain Papa John’s is planning to give away nearly 20,000 NFTs to customers in the U.K., shrugging off a previous warning from the country’s advertising regulator about its dalliances in the crypto world (CoinDesk)
The new round of layoffs
Online mortgage lender Better.com is poised to lay off roughly 50% of its staff of about 8,000 this week (TechCrunch)
Zeta raises another $30 million from Mastercard
Zeta has announced a five-year global partnership with Mastercard, which is a continuation of the $240 million funding round that Zeta raised last May (Finovate)
Santander partners with Agrotoken
Spanish banking multinational Santander has launched loans in Argentina collateralized with tokenized commodities (CoinDesk)
Atomic to build payroll connectivity ecosystem
Atomic, a market-leading provider of payroll connectivity solutions, recently announced that it has raised a preemptive $40 million Series B funding round (IBS intelligence)
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