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'Once you’re a pirate, serving in the navy is hard': Dan Kimerling's next move

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Join us and senior execs from around the industry as we host our first event on Bitcoin and Blockchai
 
September 17 · Issue #100 · View online
Tearsheet Weekly Newsletter
Join us and senior execs from around the industry as we host our first event on Bitcoin and Blockchain on September 25 in New York City.
Get the speaker roster, attendee list, last minute ticket information, and sponsorship packages by clicking here.

Analysts: Facial biometrics in banking still face security hurdles
Apple’s announcement that Face ID will allow users to unlock the iPhone X with their face can be extended to mobile banking apps. Banks are encouraged by the possibilities Face ID offers for mobile banking, but are adopting a wait-and-see approach.
How a Norwegian virtual bank is using machine learning
A Norway-based digital bank is using a machine-learning platform to allow for immediate decisions on loan eligibility. Provenir, the platform Instabank uses, is deployed by banks and finance companies around the world, some of which have incorporated social media data in determining loan eligibility criteria.
Samsung is working with banks to roll out retail pop-ups
Though Samsung is a consumer electronics company, it’s been working with banks for five years, helping transform the customer experience, first with mobile payments and now with branch (and pop-up) experience.
Why Georgia State is launching a fintech lab
Georgia State University launched a fintech lab to connect graduate students with fintech companies in the area. Graduate students, faculty and companies will partner on use cases involving data as applied to real estate, risk management and insurance technologies.
‘Once you’re a pirate, serving in the navy is hard’: Dan Kimerling goes back to his VC roots
Dan Kimerling has made his mark on banking but is ready to return to his true passion: working with and mentoring startups. After two years at Silicon Valley Bank, Kimerling talks about his impact and what he’s learned working there.
Chase is streaming concerts on its Facebook page
Chase is jumping on a trend towards live video marketing, but is treading cautiously with financial advisory content. Chase Bank will be streaming portions of a live concert (Clapton!) on Facebook as a means to draw customers into other bank services. 
Need a smartphone loan? Spruce up that Facebook profile
The future of mobile phone financing may have a lot more to do with your Facebook profile than you think. PayJoy, a two-year-old lender, evaluates borrowers based on their government-issued ID, public Facebook profile and phone number, with no social security number required. 
‘We can’t pawn it off on other companies’: Equifax has changed the industry’s approach to digital identity
Equifax-gate taught us that customers have to start taking control of their own data security. There’s no immediate solution that’ll come out in response to the breach, but it augments a space that was quickly increasing in popularity.
Personal finance app MoneyLion is experimenting with augmented reality
Using iOS 11’s ARKit technology, PFM app MoneyLion offers an augmented reality feature called Grow Your Stack. Visualizing account balances is just the beginning of how augmented reality will transform personal finance, as customers use new ways to feel their financial realities.
Avoid ‘FOMO’: Why banks need to focus on humans, not tech
Banks like to talk about customer experience, but they still largely conduct their businesses around product cycles. Employee experience is key to customer experience, so banks should be employing fintech for internal operations and leave consumer fintech to startups.
How XE’s Beric Farmer turned foreign exchange rates into a real business
XE was a fintech/internet pioneer when it launched the web’s most popular foreign exchange information source. Founder Beric Farmer joins us on the podcast to talk about the 25 years+ he invested in the business, lessons he learned along the way, and his exit to Euronet. Listen.
What we're reading
Square becoming a bank is brilliant. Here’s why.
JPM Chase’s Jamie Dimon is taking care of America’s “stupid shit” himself. Apparently, that includes discouraging people from using “fraud” Bitcoin.
Not everyone thinks demonetization is good – some people want to hang on to their cash, as they see the dash to digitize as “dangerous”.
Goldman Sachs invests £100m in fintech lender, Neyber. GS also poaches 20 employees from failing Bond Street. It’s also expanding its retail bank, Marcus, to the UK.
SoFi markets touchy-feely banking. Can it survive sexual-harassment allegations that forced out CEO Mike Cagney?
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