New banks, Podcasts

The Challengers 5: Why would anyone want to be a bank — the rise of BaaS — Wells should heed Buffett

  • This week's episode explores the growing trend of brands introducing financial services
  • It calls into question who and what is a bank: 'People want to bank with the brands they love'
The Challengers 5: Why would anyone want to be a bank — the rise of BaaS — Wells should heed Buffett

On today’s episode, Josh and Zack dive into the rising trend of banking as a service. As companies like Walmart and Apple continue to introduce financial services, they clearly don’t want to be banks. Instead they turn to banking as a service players.

Interestingly, challenger Starling Bank is embarking on a BaaS strategy, much like Amazon does with its AWS group. The young company will continue to grow its retail brand and B2B banking services in parallel.

Also in this episode:

  • South Africa’s first challenger TymeBank uses a hybrid online/offline user acquisition strategy and conversational AI to scale Source
  • Uncle Warren’s admonition for Wells Fargo’s CEO search committee to find someone outside of Wall Street Source
Payments, Podcasts

Square’s David Rusenko on the relaunch of Online Store

  • About a year ago, Square acquired website builder, Weebly.
  • Founder David Rusenko now runs Square's ecommerce efforts and has relaunched Online Store.
Zack Miller | April 18, 2019
Finance Everywhere, Podcasts

FI.SPAN’s Lisa Shields on why ERPs are the banking channel of the future for businesses

  • Lisa Shields broke on to the fintech scene in 2000 with Hyperwallet for mass payments.
  • Her new startup FI.SPAN integrates banks into their customers' corporate ERP systems.
Tearsheet Editors | April 17, 2019
Payments, Podcasts

Branch’s Atif Siddiqi on how the largest brands use salary advance to attract and retain workers

  • Branch is a popular app that is used by hourly workers to communicate and arrange shift changes.
  • With Branch Pay, the app has moved into providing financial services for its userbase.
Zack Miller | April 11, 2019
Blockchain and Crypto, Podcasts

Wave Financial’s David Siemer: ‘I’m all in on crypto’

  • David Siemer was a traditional venture capitalist investing in seed stage companies.
  • For him, the move to crypto is a generational event that he's going after.
Tearsheet Editors | April 10, 2019
Modern Marketing, Podcasts

Equifax’s Mykolas Rambus: ‘There are still a lot of problems in data wrangling’

  • Data driven marketing is still a distant goal for most financial services organization.
  • But they're closer than ever, according to the head of Equifax's data driven marketing group.
Michael Deleon | April 09, 2019
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