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Would you take a yoga class at your bank?

Facebook's announcement this week about new group payments capabilities in Messenger wasn't a surpris
April 16 · Issue #78 · View online
Tearsheet Weekly Newsletter
Facebook’s announcement this week about new group payments capabilities in Messenger wasn’t a surprise – chat technology has long been seen as the next battlefield in payments. You just have to look to Asia to see the future.
– Zack Miller, Tearsheet
P.S. Early bird pricing is still available for our Money Conference in New York City. The speakers and agenda topics look awesome

Wells Fargo's password-less future
Wells Fargo is in the process of testing out various technologies in the arena of biometrics — whether it’s voice, fingerprints or eye scans — that it hopes will eventually phase out passwords altogether.
Transparency remains a sticking point for online lenders
Et tu, Brute? Almost half of all customers dissatisfied with online lenders blamed a “lack of transparency.” So, while online lenders market their openness compared to incumbent banks, there’s still a problem of transparency in online lending
Yoga classes and snacks: Umpqua's bank branches
Would you take a yoga class at your bank?
As nationals race to shutter local branches, Umpqua Bank is hard at work trying to drive more foot traffic though its network. And it’s doing it with branches that offer yoga classes, Wi-Fi, meeting rooms, coffee and snacks. Take a look.
“Why can’t we create a banking experience that’s approachable, engaging, and fun?” said Eve Callahan, evp of corporate communications.
Is the U.S. ready for WeChat?
30 percent of Chinese have made payments over messaging app, WeChat. Although the U.S. lacks a similar competitor, Facebook, Slack and other messaging apps have made their intentions clear to compete here. But will social payments ever take off in the U.S.
'It's hard to decouple loyalty from retailers' mobile apps'
CardFree powers popular mobile apps, Taco Bell and Dunkin' Donuts
There is an arms race on as retailers scramble to launch and market their own mobile apps. CardFree CEO Jon Squire joins us on the Tearsheet Podcast to talk about the formula behind Taco Bell’s and Dunkin’ Donuts’ popular apps.
Should fintech startups buy banks?
Fixing fintech startups’ scale problem calls for an entirely new approach to core banking. Most fintech solutions so far have focused on creating new entry points to the same old banking services. So, to really compete, should fintech startups buy banks?
Bank of Ireland's NYC innovation hub
Bank of Ireland's midtown Manhattan workspace
The Bank of Ireland just launched Startlab NYC, a mentorship program for startups looking to expand to the American market. Startlab is testament to Ireland’s emergence as a financial technology center.
BNP Paribas: 'The human-robot hybrid is the future'
For the past few years, emphasis has been more on the robos than advisers. That’s changing – for example, BNP Paribas recently rolled out hybrid human-robot solutions across various division. Seems that there will always be the need for a human engineer or expert who knows exactly what solution fits and in what context.
Facebook challenges Venmo through Messenger
Facebook users on Android and desktop can now send or receive money in groups of people on Messenger for free. Maybe more interesting is that the social network’s business model for Messenger won’t be payments and commerce after all.
What we're reading
  • How Goldman Sachs made $1B with your credit score (WSJ)
  • Chase, Wells report strong mobile user growth (Bank Innovation)
  • Your eyes say you’re here to get cash: The future of branch biometrics (American Banker)
  • Android Pay now works in Bank of America, USAA, Discover & other mobile banking apps (TechCrunch)
  • What American cities can learn from Atlanta’s fintech boom (AdWeek)
  • After trashing Swift gpi, Ripple hires its biz director (Finextra)
  • Experian enlists behavioral biometrics startup to combat fraudsters (Reuters)
  • Is fintech a revolution or hype? (Bloomberg)
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  • Have a tip or story you’d like to share? Email us with pictures of untamed, wild bank branches, examples of social payments that people actually use, and proof that we won’t all be replaced by robots to zack [at]
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