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Tearsheet Weekly

By Tearsheet Editors -- June 23, 2019

We have a lot to cover this week. We also have a few spots left on our Tearsheet Outlier Panel. If you'd like to participate in periodic short research surveys, we're happy to share the full results with you. To apply for the panel, go here.

Our top stories this week

Walmart has recently rolled out Affirm's point of sale financing broadly in its stores. Affirm founder and CEO Max Levchin sat with Tearsheet to talk about the state of the business.

This month, Tearsheet is exploring the world of banking as a service. BaaS serves as a technological underpinning to modern fintech and is empowering the move of many tech companies into financial services. Read Part 1 + Part 2

‘Banking for humans’: Dave launches credit-building banking for its 3.5M users

Banks and credit unions are able to compete digitally with non-bank lenders. Mirador helps them compete on speed and customer experience.

The Challengers Podcast, Episode 7: A eulogy for Finn — Dave launches a bank — Monzo and Revolut prepare for US launch. Listen in

Square Cash app is accelerating growth, outpacing Venmo (For Outlier members)

A war for high yield deposits: The view from the consumer (For Outlier members)

Challenger banks aim to go big by going local (For Outlier members)

On Tearsheet Careers

Director, product management, bank product -- web & mobile (Capital One)
Financial partnerships, payments lead (Stripe)
Growth strategy and operations director (Revolut)
Fintech digital banking product manager (Morgan Stanley)

To apply for a position, create a profile, or post your own job opening, head on over to Tearsheet Careers

What we're reading

Fintech algorithms discriminate 40% less than traditional lenders (Quartz)

Facebook's cryptocurrency: Everything we know so far (PC Magazine)

Credit unions find friendly ground with fintech firms (PYMTS)

As community lenders sell out or go under, can publicly-owned banks restore local control? (San Jose Inside)

Fintech CEO claims Facebook ‘ripped off’ his bank start-up’s logo for cryptocurrency project (CNBC)

Fresh off a $2.65B valuation, Plaid co-founder William Hockey is leaving (TechCrunch)

A who's who of Canadian challenger banks (Fintech Futures)

Enabling the bank workforce for the new customer experience (Banking Exchange)

It’s official, the Confession of Judgment era is over (deBanked)

Core System Strategy: The era of the ‘Big Bets’ (Gonzo Banker)

This bank is ditching fees amid the rise of cheap checking accounts from fintech upstarts (CNBC)

Citi: API aggregation and incentives can ignite open banking (PYMNTS)

The 5 keys to U.K. digital bank Monzo's success in the U.S. (Forbes)

Why did Google and PayPal walk away from OCC's national fintech charter? (American Banker)

Chase's Finn shut down because, for now, consumers prefer in-person banking (Financial Brand)

Millions of Venmo transactions scraped in warning over privacy settings (TechCrunch)

UK challenger banks stumble on stress tests (PYMNTS)

Facebook's cryptocurrency ambitions face privacy concerns, political backlash (Reuters)

Sources: J.P. Morgan working on a secretive digital banking project out of London (TechCrunch)

Mastercard to let trans and non-binary people use their preferred name (Lifehacker)

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