Member Exclusive

Robinhood says yes to regulators and no to gamification

  • Robinhood has agreed to pay a $7.5 million fine and change its practices to settle Massachusetts' securities regulators' claim that the firm led inexperienced investors to make unsafe investments. 
  • Massachusetts' securities regulators have highlighted a whole list of UX features and UX elements that the firm failed to “reasonably supervise”.
Rabab Ahsan | January 31, 2024
close

Email a Friend

Robinhood says yes to regulators and no to gamification

Robinhood has agreed to pay a $7.5 million fine and change its practices to settle Massachusetts’ securities regulators’ claim that the firm led inexperienced investors to make unsafe investments.

The news: Due to the settlement Robinhood will be doing away with some of its most famous features like emojis as well as “permanently cease the future use of confetti,” the consent order states.

Context: Robinhood’s confetti feature was a UX element that filled the consumers’ screen with a shower of confetti every time they made a trade or achieved a milestone like upgrading to Robinhood Gold. Due to regulatory pressure the company discontinued the use of this feature in 2021 and replaced it with more standard graphics.

But the confetti feature isn’t the only part of its UX that the firm will have to do away with due to its settlement. Massachusetts’ securities regulators have highlighted a whole list of features and UX elements that the firm failed to “reasonably supervise”:

subscription wall for TS Pro

0 comments on “Robinhood says yes to regulators and no to gamification”

10-Q, Member Exclusive

Big Banks Q1 earnings: ‘Higher for longer’ rates create a questionable future

  • Net Interest Income took a downturn for some of the incumbent banks, impacting their financial performance in the first quarter of 2024.
  • While some of the big banks experienced growth in non-interest income this quarter, too, the impact of decreased Net Interest Income on revenues can ratchet up the focus to reduce costs and maintain earnings.
Sara Khairi | April 22, 2024
Member Exclusive

Letter from the editor: Banks don’t have a Gen Z problem – they have a major issue with UX

  • As the largest generation in history, getting Gen Z right is an existential issue, particularly for plain-vanilla financial institutions. 
  • But shifting the goalposts can be an effective way forward for banks and other FIs as they build for the future.
Zachary Miller | April 17, 2024
10-Q, Member Exclusive

On all things Jamie Dimon

  • In his annual letter to shareholders, Dimon shared his perspectives on a range of subjects. However, he placed a distinct focus on JPMorgan's efforts to advance its capabilities through AI.
  • On the same day, the company's annual proxy statement was also made public. Besides zeroing in on the growing significance of AI in banking, it highlighted the board's priority of planning for an orderly CEO transition in the medium term.
Sara Khairi | April 15, 2024
Member Exclusive, Payments

Payments Briefing: Exploring JPMorgan’s approach to payments through embedded banking solutions

  • JPMorgan identified a demand for the offering based on requests from its corporate clients, who highlighted the need for comprehensive financial solutions embedded into their own ecosystems. 
  • This year, JPMorgan has actively expanded its presence in the payments sector, aiming to develop new growth opportunities and deliver a broader range of interoperable products and services.
Sara Khairi | April 10, 2024
10-Q, Member Exclusive

A closer look at JPM’s Chase Media Solutions

  • JPMorgan Chase has introduced its newest endeavor, a retail media network named Chase Media Solutions. 
  • Breaking away from its traditional banking methods, Chase has embraced a rather unexpected and contemporary approach by stepping into a market already under the sway of major retailers.
Sara Khairi | April 08, 2024
More Articles