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Why Amazon buying Capital One isn’t a crazy idea

February 26 · Issue #71 · View online
Tearsheet Weekly Newsletter
Why big banks are helping startups
Finlab, short for Financial Solutions Lab, is an 8-month startup accelerator program funded by JPMorgan Chase and run by the Center for Financial Services Innovation. Here’s what it’s up to (and why).
PayPal's plans for TIO
Its acquisition of Canadian bill pay service TIO Networks may bring more utility to PayPal’s Venmo app. But it also gives the payment giant greater reach into the underserved.
Banking’s omnichannel dreams
Banks have been giving omnichannel strategy a lot of thought and investment, but few have executed a good strategy. Even the ones that have are now moving on. Here’s why.
Inside USAA’s new 120-person design studio
The San Antonio bank chose Austin for its design chops
San Antonio-based USAA launched a design studio in Austin to focus on improving digital experiences. It all comes down to the designers and team members themselves – the humans behind the products.
How banks are using Watson
A lot of banks are chattering about AI. But when it comes to talking about IBM’s Watson, they’ve been more mum. For compliance to wealth management to basic customer interactions, a few banks are getting their toes wet with Watson.
Amazon + Capital One isn’t such a crazy idea
Despite the reasons not to, it could be a good match
For all the reasons a retail giant wouldn’t want to acquire a bank, Amazon has many reasons to be eyeing Capital One and its credit card expertise.
Malauzai's Robb Gaynor on digital banking, mobile payments, and chatbots
There are approximately 8000 community banks and credit unions in the U.S. Many of these FIs are small businesses themselves, with under 100 employees. This week on the TS Podcast we discuss how smaller banks leverage technology to compete against the big boys.
Startups raising/Investors investing
  • Ant Financial to invest $200M in South Korea’s Kakao Pay (CNBC)
  • Micro-loan startup Tala raises $30M (Fast Company)
  • App-only bank Monzo raises £19.5M and is crowdfunding again (Business Insider)
  • Retail POS marketing network Ecrebo raises £12m (Ecrebo)
  • Insurance marketplace EverQuote gets $13M more as growth accelerates (Xconomy)
  • Clinc raises $6.3M to advance its AI for banking platform (TechCrunch)
  • Group payment app Tilt disappointingly sells to AirBNB (Fast Company)
What we're reading
  • Ransomware has exploded thanks to Bitcoin’s anonymity (VentureBeat)
  • With Zelle, big banks declare war on Venmo (Bloomberg)
  • Expect more apps to incorporate payments like Uber does (Forbes)
  • AI hedge fund created a new currency to make Wall Street work like open source (Wired)
  • DocuSign to handle dollars, not just documents (Inc)
  • TransferWise launches international money transfers via Facebook (Reuters)
  • It’s all talk at Santander as voice recognition banking begins (The Guardian)
  • Working with the underbanked in the age of Trump (American Banker)
  • U.S. Bank wants to remove passwords from login in 2017 (Bank Innovation)
  • RBS plans fintech fund to stimulate banking competition (Financial News)
  • Fintech, the buzzword finance loves and hates (Bloomberg)
  • Silicon Valley tried to upend banks. Now it works with them (NYT)
  • In fintech, China shows the way (Economist)
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