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Are you too neurotic? Lenders now testing personalities

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Financial incumbents continue to staff up their tech groups and senior fintech executives benefit fro
 
April 23 · Issue #79 · View online
Tearsheet Weekly Newsletter
Financial incumbents continue to staff up their tech groups and senior fintech executives benefit from a healthy job market. When the music stops, it looks like the strong will keep getting stronger.
– Zack Miller, Tearsheet
P.S. Early bird pricing is still available for our Money Conference in New York City on June 5. We’ve added some more great speakers from JPM, BlackRock, HSBC and CitizensFind out more and sign up here.

Ant Financial is transforming the Chinese payment industry
Alibaba’s Ant Financial has brought people with low income and limited credit history onto the financial grid. It’s done so via social payments and alternative data.
With Google, PayPal moves into retail
A new PayPal-Google partnership allows customers to pay for purchases at physical shops with their PayPal balances, via Android Pay. 
“PayPal has been granted its first real opportunity to play a role in brick and mortar commerce,” wrote Jordan McKee, an analyst at 451 Research.
5 charts that show blockchain is too immature for finance
No matter how excited everyone is about blockchain, only 19 percent of financial firms say they’re investing in blockchain this year. Here are some charts that show blockchain isn’t ready for the big show in finance.
Zelle, hardly a Venmo killer
Bank-backed peer-to-peer payments network Zelle is being integrated into mobile banking apps. But until technical issues get worked out, its bank clients and owners are holding back on pushing Zelle as a brand.
Are you too neurotic? Lenders test personalities
Though it’s been slow to catch on in the U.S., personality characteristics derived from psychometric tests are being increasingly used to assess borrowers in the developing world.
Anthemis and Exponential Ventures get into financial wellness
“How do we create a set of products and services that accomplish multiple needs of the consumer?” Anthemis and Exponential Ventures launched an incubator program focusing on financial health.
Inside Bond Street's content strategy
Bond Street is just one example of a financial services firm looking to strengthen customer relationships by strengthening its brand. Here’s how the business lender is doing that
Mastercard's new card has a built-in finger scanner
The credit card giant revealed Thursday that it’s testing fingerprint biometrics in cards in South Africa to help it to detect and prevent fraud, with plans to run the same trial in Europe and Asia. Here’s the scoop
5 charts on mobile payments in China
very healthy growth in Chinese mobile payments
Mobile and social payments are growing at an astounding rate in China, and Alipay and WeChat are the dominant forces. Here are a few charts that illustrate how mobile is quickly gaining on card payments.
How First Green Bank is selling customers on its environmental ethos
First Green Bank, a regional bank with seven branches across Florida, pushes environmentalism in design, products and marketing. Read how the bank attracts customers who prefer to bank with an institution that shares their values.
After 20 years, finance is less than 20 percent paperless
Inlet’s Chuck Cordray joins us this week on the Tearsheet Podcast to talk about the finance industry’s (slow) paperless evolution.
Fintech horse trading
Incumbents are recruiting up more tech minions. JPM, for example, is said to be tripling the size of its NYC tech hub. Goldman’s staffing up, too, but it couldn’t hold on to its own development head – he’s joining Chain. This added activity is leading to a surge in new patent filings (and a somewhat-hard-to-explain scaling back in bank lending).
Maybe we are seeing some ‘Uber moments’ in finance.
Dealflow, moneyflow
Quietly, Airbnb acquired high-flier group payment technology, Tilt. What amounted to a bargain for Airbnb was a classic loss for fintech investors like Andreesen Horowitz.
*Also check out:
New fintech products, technologies
French telecom, Orange is launching a bank this summer, well, just because.
BBVA taps blockchain to make international payments in seconds.
Robo-adviser Wealthfront enters consumer lending.
What we're reading
  • Simple is closing some customer bank accounts, and users are mad as hell (TechCrunch)
  • How peer-to-peer payment pioneer Venmo grew up and got serious (Fast Company)
  • Banks rack up advisory fees as fiduciary rule’s future hangs (WSJ)
  • Amex, challenged by Chase, is losing the snob war (NYT)
  • The risk of rising consumer borrowing (WSJ)
Stay connected to Tearsheet
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  • Have a tip or story you’d like to share? Email us with tales of Chinese payment dominance, green banks (where ‘green’ doesn’t refer to the color of money), and connections between your IQ and your creditworthiness to zack [at] tearsheet.co
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