2 Aug 2021

Banking, SMB Finance

U.S. Bank’s Shruti Patel on the future of SMBs and how the bank is positioning itself to align with their needs

• U.S. Bank's Shruti Patel explains how the firm is adapting its approach to serve the evolving needs of SMBs in the coming months.
• "I am really excited about several product launches we have planned for this year... they will bring to life our strategy to deliver a fully integrated suite of banking + payments + software solutions for our clients.”

Podcasts, Running an SMB

“We don’t use the word ‘disrupt’”: The future of financial services, starting with distribution

• Tearsheet editor Zack Miller discusses the future of financial services technology, as he reflects on his conversation with Brian Busch, host of the SMB Tech Innovators Podcast powered by Gusto.
• The two discuss the intersections of traditional financial institutions and fintech innovation, the challenges of integrating innovation, the impact of industry consolidation, the rise of embedded finance, and the imperative of partnership in driving the industry

Payments

Visa+ expands its availability for PayPal and Venmo users across the US

• Expanding on last year’s announcement, the recent development marks the official consumer launch of the Visa+ service with inaugural partners PayPal, Venmo, and DailyPay.
• In addition to improving consumer experiences in P2P transactions, Visa+ also offers cross-platform interoperability for B2C payment flows via its APIs.

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.

Banking, Innovation

Technology as the hero and the anti-hero in the quest of building products for Gen Z

• We often think of technology as a driver for innovation in the financial industry. The word “technology” is in some ways synonymous with new and better. But not all technology pushes the envelope further for FIs. 
• We look at the cross-section of the industry to see how different FIs are navigating the question of technology in different areas such as retail, SMBs, and payments.