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How JPM Chase's partnership with OnDeck is working out

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About a year ago, JP Morgan signed a partnership with online lender, OnDeck, that hailed the imminen
 
June 25 · Issue #88 · View online
Tearsheet Weekly Newsletter

About a year ago, JP Morgan signed a partnership with online lender, OnDeck, that hailed the imminent rush for incumbents to form collaborations with fintech firms. This week on the website, we covered what that partnership looks like one year in. 
What I found interesting is the language Julie Kimmerling, head of Chase Business Quick Capital, used when asked how it’s going: “Additionally, our experience with it has also given us tons of ideas of how we can leverage our experience here to make more of our lending products even faster and even simpler.”  If you can’t live with ‘em…
– Zack Miller, founder, Tearsheet

5 charts that show where open APIs are taking banks
Recent survey shows that most banks see themselves evolving into banking platforms. But when you drill down, they still have significant reservations around collaboration.
Inside Western Union's refugee assistance program
Western Union has long served refugees “by default” but it is now looking to them as a new customer set “by design”. The company is recognizing that refugee communities can be emerging economies in their own right
Canadian startup buying an incumbent: Larger trend?
On Monday, Canadian personal finance startup Mylo acquired asset manager Tactex, a move that bucks the trend of incumbents buying fintech startups. Will more startups start buying incumbents?
(Sponsored) Your account, powered by Bazing
Why struggle developing and managing your own rewards-based app for your credit union or bank? StrategyCorp’s Bazing provides a seamless and modern user experience from the moment your customers open an account, branded with your firm’s name, look, and brand. Check out Bazing.
Ohio welcomes fintech accelerator
Fintech71 is a new fintech accelerator that aims to position Ohio as a global center for innovation. Bank partner KeyBank is employing a hands-on approach to developing talent along customer pain points.
JP Morgan and OnDeck: How's it going?
One year in: How JP Morgan's partnership with OnDeck is going
JP Morgan Chase does a lot of things – it’s one of the largest small business lenders in the U.S. One year after it inked a deal with online lender OnDeck, Tearsheet’s Tanaya Macheel checks in to see how it’s working out.
TD uses voice to bring retail experience to digital banking
TD Bank is giving customers an easier way to verify their identity: by integrating voice recognition technology into its call centers. The technology, branded as TD VoicePrint, reads about 150 different characteristics of a customer’s speaking patterns to create a vocal fingerprint.
How social responsible investing is moving beyond the wealthy
Common wisdom has millennials putting their money where their socially-conscious mouths are. Tearsheet’s Suman Bhattacharyya finds that wealthier and older clients are looking for social investing, too.
The challenge of solving for financial inclusion
Technology offers a lot of promise and potential for the financially underserved, but it’s a bitter truth that the most successful financial apps require linked customer bank accounts. Consequently, many tech firms are shifting their focus from inclusion to financial wellness.
William Mills’ Scott Mills: ‘We have to think about how technology is consumed’
Now the largest independent agency in finance, the William Mills Agency was founded in Atlanta 40 years ago. CEO Scott Mills joins us to talk about what successful firms are doing to generate more press.
Deal flow
What we're reading
  • Goldman Sachs is ready to disrupt fintech startups (Quartz)
  • Klarna, a Swedish fintech unicorn, gets a full banking license (Economist)
  • What the Amazon-Whole Foods deal means for banking (American Banker)
  • BBVA becomes the latest incumbent to join the digital ID race (Business Insider)
  • PayPal chief dismisses Apple Pay challenge (Telegraph)
  • Screen scraping: in or out? (Banking Technology)
  • The future of technology according to Bank of America’s chief technology officer (Forbes)
  • Instant bank transfers are coming to PayPal and Venmo (Techcrunch)
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  • Have a tip or story you’d like to share? Email us with visions of Amazon taking over banking, snippets about connected devices for finance, and money from Chase Pay to zack [at] tearsheet.co
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