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big tech digital transformation neobank

·Aug. 10, 2020

Google banking shows that tech giants are the storefront for everything, and other distributors will fade away

The tech companies will become the storefront to absolutely everything.

There is no Internet, there is only Google.

There is no commerce, there is only Amazon.

There is no finance, there is only WeChat / Tencent?

I don't know about you, but I cannot pay for anything in cash in London anymore. COVID has made the city go cashless. For China, QR codes have long replaced the need for paper money. And if there is no cash, what is the point of ATMs, and ATM fees, and bank branches, and bank branch staff? Financial firms no longer need to be the place where you shop for financial product.

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acquisition digital lending digital transformation financial advisors Investing neobank roboadvisor

·May. 18, 2020

Goldman is trying to build a Fintech powerhouse, and this is how they should do it

This week, we put on the Goldman hat and go shopping for companies. We buy a little bit of Folio and sell some Motif. We look at Personal Capital and the $1 billion it wants for its $12 billion of assets. We examine the private markets with Addepar / iCapital and SharesPost / Forge, and then move over to the banking sector. Should we buy Wells Fargo, as rumored, or some digital wallet apps? Read on for how to acquire a best-in-class Fintech.

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digital transformation neobank venture capital

·May. 5, 2020

Inside The Decision to Shutter Moven’s B2C Business, with Brett King

Today we're joined by Brett King, founder and executive chairman of Moven, one of the world's original digital banks, and Lex Sokolin, global head of fintech at ConsenSys. Lex and I discussed Moven's recent announcement to shutter its B2C business on episode 170 of Rebank. And we're happy to have the opportunity to connect with Brett directly to discuss the decision in more detail.

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asset management covid pandemic ICO / IEO neobank roboadvisor small business venture capital

·Apr. 6, 2020

Why Fintech Venture Capital firms are not returning your calls and emails

We look at why venture capital investors are slowing down, and the dynamics of how their portfolios work under duress. We talk about the incentives of limited partners to derisk exposure, the implication that has on cash reserves, new deals, and fundraising. We also touch on how the various Fintech themes are responding to an increase in digital interaction while seeing fundamental economic challenges. Shrewd competitors will be able to consolidate their positions and gain share during the crisis, but that will have to come from the balance sheet, not intermittent growth equity checks.

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digital transformation mega banks neobank roboadvisor

·Oct. 7, 2019

Fintech Price War — Goldman’s $1.3B Marcus burn, Neobank £200MM loss, ETrade’s $75MM trading fees

We are like the hungry at the all-you-can-eat buffet. In the beginning, there is not enough! Let's democratize access to food; to music; to transportation; to healthcare; to finance; to payments; to banking; to lending; to investing. The billions in institutional capital across universities, pensions, and sovereigns are delegated to smart portfolio managers. The day before yesterday, it was allocated by small cap stock pickers (hi Warren!). Yesterday, it was the alternative managers of hedge funds and private equity. Today, it is the trading machine and the venture capitalist. Tomorrow, it is the cryptographic artificial intelligence.

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decentralized finance digital transformation neobank

·Sep. 18, 2020

Finance blood in the water ($900B wasted on digital transformation) is why neobank Chime is $15B, and why Uniswap could be next

This week, we look at:

PwC estimating that $900 billion has been wasted on digital transformation projects for enterprise, meaning finance is vulnerable
Chime is worth $15 billion in the latest round of valuation, same as $200B+ depository bank Fifth Third, which is quite the achievement
Decentralized exchange Uniswap distributing 60% of its token to the community, flipping the ownership and value accrual model

As a thought experiment -- today, if you want to save for a house, you may create a financial plan in Betterment and wait for the portfolio to accrue. Tomorrow, you may bring cashflows to a housing protocol which intermediates property markets, and build your portfolio directly into your desired goal of buying a house. Your stated selection and articulation of that goal, by choosing the housing protocol, generates value on its own through rewards, participation, governance, and various interest rate products.

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digital lending insurtech Investing IPO / SPAC neobank venture capital

·Aug. 1, 2021

What do SPACs and IPOs say about Coinbase, Robinhood, Lemonade, SoFi, and other fintech darlings?

We look in detail at the state of marking recently-private-fintechs to the public market in mid-2021. Multiple industry segments have seen IPOs, direct listings, and SPACs transition fintech darlings into traditional stocks. How is performance doing? Is everything as magnificent and rich as we expected? Have multiples and valuations fallen or held steady? The analysis explores the answers and provides an explanatory framework.

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digital lending entrepreneurship neobank paytech

·Jun. 19, 2020

How to Build a $3.5B Profitable Digital Bank with Tinkoff

Oliver Hughes is the CEO of Tinkoff Group, one of the world’s most successful digital banking groups with over 10 million customers. This is one our most interesting conversation to date, full of fantastic operating advice.

Tinkoff is publicly listed with a $3.8 billion market capitalization, which brings clarity to its operating model in a time when many noteworthy consumer digital banks are pursuing customer acquisition at the expense of profitability.

Oliver has led Tinkoff through three financial crises, and brings experience and perspective to the current COVID crisis. This is a fascinating discussion about unit economics in digital banking and winning business models with a CEO with thirteen years of experience in this space.

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Embedded Finance marketing neobank roboadvisor

·Apr. 29, 2019

Wealthfront’s $1 Billion of Cash in Two Months

In news of cross-selling financial products across categories, roboadvisor Wealthfront has gathered a nifty $1 billion of deposit assets for its 2.29% interest-yielding non-bank cash account. Given that the firm has a little over $10 billion in managed investment assets, charges somewhere between 0 and 25 bps on those assets, and took years of wiggly pivoting to get to the current stage, it is fair to consider this influx a big win in terms of client traction. It is also $22 million of annual interest payments. A couple of things come to mind that are worth pulling apart.

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digital transformation neobank super app

·Dec. 4, 2020

Anne Boden of Starling Bank on $4B of deposits, 1.8MM customers, and neobank profitablity

In this conversation, we talk with Anne Boden, the CEO of Starling Bank. Starling has just turned profitable, and reached several significant milestones in terms of 1.8 million clients, $4 billion in deposits, and $1.5 billion of lending.

That is quite meaningfully ahead of our model, and probably ahead of everyone’s model, of where neobanks would be in 2020. While COVID has accelerated the digital lifestyle, Anne credits deeper demographic, technology, and cultural insights and choices she has made in building Starling for success.

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