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Chase is rolling out advice-driven ‘Express’ branches next month

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It's 2018 and we're already seeing a continuation of some of last year's big themes. The bank branch
 
January 14 · Issue #117 · View online
Tearsheet Weekly Newsletter
It’s 2018 and we’re already seeing a continuation of some of last year’s big themes. The bank branch continues to evolve (see Chase’s Everyday Express). Financial services further migrate to chat platforms (see Tencent’s new license to sell mutual funds on WeChat). And Google is honing its focus on payments, consolidating its activity under a single brand.
– Zack Miller, Tearsheet

Purchase financing is creating more points for financial services brands to compete for consumer attention.  Here are three things to watch in the hotly discussed point-of-sale financing space this year.
After lagging for years behind Apple Pay and Samsung Pay, Google is finally putting its many payments capabilities — Google Wallet, Android Pay and Pay with Google — under a single name, Google Pay.
Just nine percent of banks running AI pilots are planning to invest more in AI. That hasn’t stopped TD, which just made its first fintech acquisition, an AI startup that will help it personalize and predict the next steps of its customer relationships.
Transferwise is piloting a cross-border debit card for borderless account customers, letting them withdraw funds in local currency. Can we call it a bank yet?
JPMorgan will see huge savings from the new reform legislation. The bank says it will reinvest its $3.5 billion tax benefit in ‘communities’.
Chase's new Everyday Express format
Chase is piloting a new branch format. Next month, the largest U.S. bank will roll out six “Everyday Express” branches, complete with Digital Advice Bars and video conferencing to connect customers with companion branch bankers for more complex matters.
China’s Tencent has received a license that allows it to sell mutual funds on WeChat, its messenger platform with nearly one billion users.
Wells Fargo is letting cardholders pay with their wrists. On Thursday it began supporting FitBit Pay payments, which customers can use by waving their FitBit smartwatch at merchants whose payment terminals accept NFC.
With all the excitement around online lending, there are still some spaces that have a long growth runway. Michael VanErdewyk, CEO and founder of Reliamax joins us on the podcast this week to discuss the private student loan market.
What we're reading
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How businesses can use chatbots more effectively
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Chinese fintech competitive, not overcrowded (yet)
What Citi’s move toward digitalization means for mortgage lenders
MoneyGram jumps after saying it’ll test Ripple’s digital coins
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