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In voice payments, Google and Amazon pull ahead of Apple

February 12 · Issue #69 · View online
Tearsheet Weekly Newsletter
How financial tech startups are reaching out to low-income Americans
Fintech’s promise of providing financial services to a much broader set of customers hasn’t quite played out that way yet. But the move towards more inclusive banking is certainly afoot, as incumbent FIs partner with more nimble startups. These partnerships, particularly in investing and lending, are starting to reach further down the socio-economic ladder.
“It’s going to be us working together that’s ultimately going to reach low-consumers,” said Colleen Briggs, executive director of community innovation at JPMorgan Chase. “That’s how we’ll move the needle.” Read more.
Why robo-advisers are looking to former magazine editors for the human touch
New financial services firms also have to build brands
Robo-advisers Wealthsimple and Ellevest believe in the human touch after all.
Both have plucked editors from top publications in order to personalize the often-dry world of investment advice by focusing on lifestyle matters. Upstart financial services firms are trying to find their voices to appeal to their customers’ emotional sides. 
For companies like these, it’s about way more than just publishing content. Read more.
On the road to voice payments, Google and Amazon pull ahead of Apple
Amazon and Google pull ahead in voice payments
“I’ll pay with Google.” 
Apple, though it had an early lead in voice with Siri, is lagging behind some formidable competition.
Google and Amazon, with voice-controlled devices, Home Assistant and Alexa, have the early lead in voice. 
That means they’re poised to lead as voice commands and payments collide. Here’s why.
WTF is conversational banking?
Customers continue to migrate out off branches and that provides a new challenge for FIs: without human-human interaction, what does a modern banking relationship really look like?
Many startups – legacy institutions, too – are betting on conversational banking to fill the void. But, WTF is conversational banking?
Accelerating mobile commerce and loyalty programs with Sionic Mobile’s Ronald Herman
Soinic Mobile's Ron Herman
Some core problems prevent SMBs from fully embracing mobile commerce and loyalty programs. That’s beginning to change as new technology provides an end-around expensive, legacy hardware. 
Sionic Mobile’s Ronald Herman joins us on the podcast this week to discuss what’s coming down the pike for retailers. Read/listen here.
The WSJ is exploring an ad-free digital offering
With sagging advertising revenues, the WSJ is exploring more ways to juice sales. It’s going to have to move aggressively because WSJ parent, Dow Jones has set a goal of reaching 3 million subscribers. Here’s what the WSJ is doing to make more money.
PayPal launches Slack bot for peer-to-peer payments
Banks Can't Wait to Wipe This Complaints Database
How a female fintech founder beat the odds -- and raised millions for child support app
What Silicon Valley expects from banks
Startups raising/Investors investing
  • Citi and AmEx join Plaid Technologies funding round (Fintextra)
  • Personal lender Float launches, announces $3M angel round (Crowdfund Insider)
What we're reading
  • Fintech is stimulating Chinese consumption and capital flow (TechCrunch)
  • Amazon Payments nearly doubles volume with help from 33 million customers (Which-50)
  • SoFi plays it safe with Super Bowl ad – and kind of wants to be your bank (deBanked)
  • The importance of data access for fintech (Forbes)
  • Want a bigger bank balance? Keep tabs on your friends’ savings habits (Jessica Ellerm)
  • Swedish Klarna acquires German online payment firm BillPay (EconoTimes)
  • SoFi to sell student loans to small banks through Promontory (American Banker)
  • How AI will become the most defining technology for the banking industry (Let’s Talk Payments)
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