(Potentially) big news broke this week, as USAA announced they are pursuing royalties for the remote deposit capture technology used by 5,000+ institutions. This may come as a surprise to many, since remote and mobile deposit capture has become so ubiquitous so quickly, with banking software providers offering the same functionality to thousands of financial… Read More


Most value propositions are dumb. Take my four years at Morgan Stanley as a case study. Every few months or so, the newest recruits head off to a centralized training center in the Northeast to be taught how to create an elevator pitch and have conversations with potential clients. Two hundred newly minted financial advisors… Read More


Two weeks ago I told you about Sallie Krawcheck’s keynote address at the Empire Startups Fintech conference in New York as part of Fintech Week NYC. If you didn’t get to it yet, here it is. The day after the Empire Startups event, I attended the FinXTech Annual Summit at the Nasdaq MarketSite. The day… Read More


Peer-to-Peer Lender Goes Public The IPO market for online lenders has been very quiet over the past year. However, China Rapid Finance just raised $60MM through an ADR offering on the NYSE. While public market valuation of $350MM is much lower than the private market value of $1B the company achieved a few years ago,… Read More


Sallie Krawcheck was fired. Twice. It made the front page of the Wall Street Journal. But her story didn’t stop there. After a brief hiatus, Sallie got back to work. She is still making headlines, but now they center around her fintech startup Ellevest, which has raised about $19MM in total funding over the last… Read More


No column today – plenty to chew on from last week and the first article below. I promise I’ll back off on the Amazon stories as soon as they stop being so good. Amazon Strategy Teardown As a follow-up from Bezos’ shareholder letter last week, I wanted to share this “Amazon Strategy Teardown” from CB… Read More


Small departure from our normal financial innovation focus, but the below (abridged) shareholder’s letter from Amazon’s Jeff Bezos is too good to pass by. It also doesn’t feel too off the mark given the scope and ambition of Amazon’s payments business, including the recently launched Amazon Cash, which allows customers to upload cash to their… Read More


In what has become something of an annual tradition, I wanted to break down portions of Jamie Dimon’s letter to JPMorgan shareholders. This year’s letter started off sounding a little more like Warren Buffett than in previous years, but the most interesting sections (to me) are the responses to the technological changes in the market… Read More


Last month, Tommy Nicholas (co-founder of Alloy) wrote a great article on the need for fintech to innovate on the business model. While it is a short (10 minute) read, I wanted to summarize it here. An aside for you bankers – if you have a need (and you do!) for automated identity verification for… Read More