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'
Tearsheet Editors | April 12, 2019
close

Email a Friend

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

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

Podcasts

The state of bill pay with Solutions by Text’s Nick Babinsky

  • Consumers struggle with one-time payments, frequently forgetting to pay their bills on time.
  • Banks, billers, and payers can find success when simple texts are used as reminders and onboarding to payment flows.
Zachary Miller | November 29, 2023
Podcasts

‘If you can get Gen Z right, it’s going to build your bank for the future’: Citizens Bank’s Vice Chair, Brendan Coughlin

  • Regional banks like Citizens face a variety of challenges, from high interest rates to rising consumer expectations.
  • Brendan Coughlin, the bank's Vice Chair and head of consumer banking, joins us on the podcast to discuss how his firm is navigating the challenges and opportunities in this market.
Zachary Miller | November 21, 2023
Podcasts

Revisioning banking and BaaS last mile to safely deliver financial products

  • The BaaS ecosystem has been evolving and that means different things for the banks, fintechs, non-banks, and middleware companies participating.
  • On the Tearsheet Podcast, editor Zack Miller is joined by executives from Thread Bank, CCG Catalyst Consulting Group, and Infinant to discuss the last mile and where business models are headed.
Zachary Miller | November 17, 2023
Podcasts

The Gen Z Effect: Sustainability, technology, and the future of finance

  • Gen Z has demonstrated an interest in shopping for sustainable fashion, in goods and companies whose values align with their own.
  • In this special episode of the Tearsheet Podcast, executives from Klarna, Publicis Sapient, and Good on You join us to talk about the intersection between sustainability, technology, and finance.
Zachary Miller | November 13, 2023
Podcasts

Wise’s partnership with Swift helps modernize X-border payments for FIs

  • Wise and Swift joined forces to create Correspondent Services for faster, more affordable international money transfers.
  • This partnership enables financial institutions and banks to enhance global payments without major system changes, simplifying adoption.
Zachary Miller | November 09, 2023
More Articles