The top financial services and fintech stories this week
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Our top stories this week
Green Finance Briefing: When it comes to net zero, actions are yet to speak louder than words
Europe has been leading the way in terms of climate change policy, but banks there are also struggling with the transition to net zero.?
As pressures mount on the financial system, more banks will need to quantify their Scope 3 emissions and look under the hood of what they're financing.
Read more?(access for free)
Data Snack: As finance apps’ ad spend soars, their conversion rates are declining
The average ad spend on an app store by a finance app rose by 51% between 2020 and 2021, crossing the half-a-million dollars mark.?Conversion rates for finance apps fell across the App Store from 6.8% to 5.8%, and Google Play Store from 60% to 55%.
Read more?(exclusive to Outlier members)
Fintech versus fraudsters: Behind PayPal’s 4.5 million fraudulent accounts
PayPal recently disclosed that it has identified and removed 4.5 million illegitimate accounts on its platform.?As fraud continues to dog the ecosystem, experts believe the core of the problem lies in digital identity-proofing.
Payments Briefing: Behind Adyen’s H2 2021 earnings
This week, we explore Adyen's H2 2021 earnings and how they relate to broader global payments trends.
We also look at Mastercard’s collaboration with Highnote and Flowcast to build a credit card for SMBs.
Read more?(exclusive to Outlier members)
Where community banks stand in terms of tech and trust, in 4 charts
Community banks are still valuable in consumers’ minds.?Still, if these institutions want to stay relevant, they’re going to have to do some tech makeovers.
Lending Briefing: Fraud and BNPL credit scores
Fraud is starting to become a bigger issue in financial services, with both banks and fintechs getting increasingly targeted by fraudsters.
The rising popularity of BNPL products is paving the way for new products and services from legacy players - Experian is launching a separate BNPL specific credit score this spring.
Read more?(exclusive to Outlier members)
Earlier this week
Read the charts
1. Affirm revenue breakout for 2022
Source:?Randolph Duke
2. The U.S. pension fund gap
?Source:?Alf
What we're reading
Goldman is reshaping?itself after a turbulent decade
Goldman Sachs will outline its financial targets and growth plans for the future,?to win over investors yet to be convinced by its long-term strategy (Reuters)
领英推荐
A "radical"?proposal
Bolt's founder Ryan Breslow?is?offering his employees?money?to exercise their stock options?(TechCrunch)
Early payouts are all the rage
U.S. Bank is partnering with financial wellness company Payactiv to?leverage its?earned wage access tools?(Finovate)
The Klarna Card is coming
The waitlist for the Klarna Card is now open to all U.S. consumers,?which will allow them to pay in four installments for any in-store or online purchase?(Finextra)
Circle?doubles its valuation
Crypto?firm Circle says its valuation has?doubled to $9 billion following a tweaked SPAC deal with?Concord Acquisition Corp (Reuters)
What a climate-focused community bank looks like
Based in Florida,?Climate First Bank?claims to be the country’s first climate-focused community bank?(FinTech Futures)
Travel Rule, a headache for crypto?
Coinbase, Anchorage Digital, and Robinhood have formed a group that?offers a way for companies to comply with a FinCEN KYC rule (Protocol)
WHSmith launches the “Just Walk Out” store
WHSmith has finally debuted its checkout-free store in New York City’s LaGuardia airport after teasing its opening for months?(PYMNTS)
Coinbase muscling into a highly competitive space?
Coinbase is partnering with Remitly to push deeper into the U.S.-Mexico international money transfer business?(Banking Dive)
U.S. banks aren’t as desperate as they once were for new deposits
U.S. interest rates have soared everywhere but savings accounts and those promising ‘high-yield’ offerings haven’t budged on their rates after 2022’s sharp bond-market selloff (Bloomberg)
Global banks launch voluntary carbon offset platform
More banks join Project Carbon, an initiative to create a blockchain-based marketplace where firms can buy and sell carbon offsets (Finextra)
H&R Block taps Galileo for Spruce
Galileo's?API-enabled financial technology powers?Spruce, the mobile banking platform built by H&R Block (PYMNTS)
Marqeta partners with Plaid for seamless ACH transfers
Marqeta and Plaid team up to simplify and streamline the ACH transfer process to enable faster funding of financial accounts?(Finovate)
JPMorgan arrives in the metaverse
The Wall Street bank becomes the first bank to open a lounge in blockchain-based Decentraland?(CoinDesk)
Amex collaborates with Airbase on corporate spend
Airbase, a startup in the corporate spend space, teams up with Amex on a pilot that will offer its service to certain customers of the credit giant (TechCrunch)
No turning back
JPMorgan Chase?and HSBC?are embracing hybrid work?divided between home and headquarters (Bloomberg)
Goldman takes on commercial bank rivals
Goldman Sachs to ramp up transaction banking to 36 countries?(IFR)
Less freedom for the "Freedom Convoy"
TD Bank freezes accounts that received money for Canada protests?(Reuters)
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